Bitcoin, Blockchain, Dogecoin, Ethereum, NFTs, and everyone else is talking about cryptocurrencies right now, but what does it all mean? I’ll explain what it is, why it’s becoming more essential, which areas to invest in, and the downside.

WHAT IS IT?
When society was in its early stages, there was no such thing as money, so the only way to buy from someone was to go up to them and say, “I really like your horse and I will trade you my cat for it.” Still, the problem with that system is that even if you are pleased to give out your horse, you may not want a cat, so the trade will never happen. That’s when cash, namely coins, entered the picture. Because they are made of precious elements such as gold and silver, everyone assumed they would be valuable. The name pound comes from the fact that one pound used to equal one pound of silver. It makes no difference if you don’t want my cat; as long as I have coins, we can still deal with your horse. Even if you have no use for the silver, since it is a valuable metal, you have the security of knowing that you can take the coin and offer it to someone else in exchange for something you desire. Convenient, right?

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