January 22, 2022

Money Talks: What is Cryptocurrency?

In this episode, Brandon breaks down the basics of cryptocurrency. Why is crypto gaining popularity? What makes it special? Should you invest? Listen to find out!

What is cryptocurrency? [00:45]
• Cryptocurrency is a form of payment that can be exchanged for goods and services. Brandon explains that you need to exchange “real” currency for the cryptocurrency and uses Chuck E’ Cheese tokens as an analogy.
Decentralization of cryptocurrency [02:14]
• Brandon explains blockchain, the decentralized “recording system” that makes crypto secure.
Buying cryptocurrency [06:33]
• Brandon discusses getting a “cryptocurrency wallet” to store cryptocurrency in. Zack and Brandon then go over the legality of cryptocurrency in different countries, as well as share the services that they themselves use to buy and hold cryptocurrency.
Zack and Brandon discuss the uncertainty in the future of cryptocurrency [12:57]
• Only ever invest money that you can lose!

#SWNS #crypto

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