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How does Crypto Currency works?

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On 8/31/2018 at 11:27 PM, bcsapper said:

I'll send you a PO box number.  You put all your currency in plain brown envelopes, send it to that address, and I'll crypto it and send it back to you.


J/K.  I have no idea how it works.

You got me there. :) I was seriously reading it though. ;)

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Don't consider it an investment. Look at it like any other market. Only spend what you are willing to lose.  It takes some tech know how to make it all work for you. I am an IT professional of close to 20 yrs now and I don't touch any of that stuff.

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  • 7 months later...

Direct investment in cryptocurrency is when you buy it at the initial minimum cost and wait a couple of years to have a profit))) You are already late for this train, now the last cars are just being sent. But you can trade in a crypto-exchange if you have a lot of money to buy the first cryptocurrency package. Do you know what Forex is? Here it will be the same. With the same risks.

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  • 1 month later...

Many poor answers here, which makes me question the intelligence of those who responded. I have been doing my own research, and this is my take on cryptos:

Cryptos offer another way to store value. Like gold became the standard centuries ago, and bank notes are the standard today, cryptos could become the standard of the future. The front runner being Bitcoin, because of its early adoption and proven ability to work.

The most interesting thing about cryptos is how they could create a shift in power!

Have a look at this simple guide, and try to think of the political implications of a decentralized system of exchange: https://www.upfolio.com/ultimate-bitcoin-guide


Edited by AsksWhy
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  • 2 months later...

Keep in mind that these cryptocurrencies are unregulated. No central bank to pass regulations to protect investors or the users of the respective currency. Do you really want to throw your money into something like that? You might as well be investing in a hedge fund in the 1920s.

YOu were right to ask people how it works to begin with, but I wouldn't start with a message board like this (despite the fact that I just answered you on it lol). Get a book on the subject.

Edited by JamesHackerMP
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