Everything You Need to Know About Cryptocurrency

Photo by Zoltan Tasi on Unsplash

I talk about crypto a lot on this channel — mostly in passing or when I gloss over some news story. I haven’t really delved into the nitty gritty and I’d wager that a lot of my followers probably aren’t fully in-tune to what cryptocurrency really is.

And honestly, I get it. It’s confusing enough to explain that I have to make an entire video on it. So, let’s find out how cryptocurrency works… and how you could get involved, potentially making some extra money?

What is cryptocurrency? As it’s namesake suggests, it’s money… kind of. There’s a little more to it than that.

Crypto is basically any form of currency that only exists in a digital state. Obviously, you probably have a credit card or a debit card instead of carrying around a bunch of cash,

but that doesn’t make it crypto. You could go to the bank and make a withdrawal and now you have actual tangible paper money.

Crypto can ONLY exist in a virtual space. It’s also known as a “decentralized” system, meaning there’s no organizations deciding when to make more crypto, how many to produce, or keeping track of where they’re at. No banks or anything, crypto exists purely on the blockchain.

If you aren’t sure what a blockchain is, it’s basically a digital ledger of transactions. You…