Benefits of Crypto!
Good afternoon and welcome to our newsletter! Massive day for the markets. Bitcoin broke above $55k and is up 32% the past seven days. Bitcoin dominance is at 44.7% as expected. Remember Bitcoin is the king and typically money moves into Bitcoin and then follows into other coins. We try to educate our audience into investing into other cryptos to grow their stack of Bitcoin. The total market cap is currently at $2.3 Trillion. Remember that you can read our previous newsletters by going to our website. *Dips are for buying, It is always smart to take profits when everything is green, depending on your investment strategy! Profit is Profit*
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What are the benefits of Crypto?
Crypto has an insane amount of benefits relating to wealth, employment opportunities, Tech growth, Investment/ venture capital.
In my point of view there are a lot of benefits when you are an early adopter, the majority of these benefits being financial. Come 10 years when you understand how to use different bridges and NFT platforms, and are more understanding of the pop culture surrounded by the crypto space you will be more apt to make money and integrate with technology spaces moving forward.
Who isn't motivated by money, i think money is a factor of how early you are in an industry. There are really no asset classes across the world that can compete with the returns seen in crypto over the past 10 years.
Is Crypto only used for illegal activities?
This is a false statement, crypto is not only used for illegal activities. People who make this claim are often uneducated and naive. When looking at monetary environments you will see that the US Dollar is used for illicit activity as well as above board business across the world. Any form of value is subject to being used by the wrong people for the wrong reasons.
With Crypto it is actually feasible to engage in transactions that have been vetted to be above board depending on how the chain is structured- KYC, or permissioned chain.
Awesome Resource for statistics relating to illicit activity in crypto assets and fiat--ARTICLE LINK
What is Ethereum?
Ethereum is the second largest cryptocurrency with a market value of around $425 billion and a price of $3,592 at the time of this writing. Ethereum provides everyone, regardless of background or location, with open access to digital money and data-friendly services. It's the technology that powers the cryptocurrency ether (ETH) and thousands of other apps available today. Ethereum is a cryptocurrency-transfer system that allows you to send cryptocurrency to anyone for a nominal charge. It also powers open-source programs that no one can take down. It's the first programmable blockchain in the world. Ethereum is a fork of Bitcoin, with a few key modifications. Both allow you to utilize digital money without the need for a payment provider or a bank. However, because Ethereum is programmable, you may use it to create a variety of digital assets, including Bitcoin. This means Ethereum can be used for more than just payments. It's a financial services, gaming, and software store that won't steal your data or censor you. It is consisted the interest of the ecosystem with most applications being built on top of its protocol. NFTs and Defi which have exploded recently are mostly built upon its protocol.
What is Ethereum 2.0?
The Ethereum blockchain has been upgraded to Ethereum 2.0, often known as Eth2 or "Serenity." The upgrade intends to improve the Ethereum network's speed, efficiency, and scalability so that it can handle more transactions and alleviate bottlenecks. Additionally, one of the most important changes is the transition from a proof of work (PoW) to a proof of stake (PoS) consensus mechanism. We have explained the difference in a previous newsletter which can be accessed on our website. Ethereum 2.0 is being released in stages, with the first, known as the Beacon Chain, becoming online on December 1, 2020. The Beacon Chain adds native staking to the Ethereum blockchain, which is an important part of the network's transition to a PoS consensus process. It's a distinct blockchain from the Ethereum mainnet, as the name implies. The Merge, the second phase, will merge the Beacon Chain with the Ethereum mainnet and is planned in the first or second quarter of 2022.