What is Crypto — A Breakdown

Let’s Talk About Why Everyone’s Crazy for Crypto

I’ve heard. But what IS cryptocurrency? Explain it like I’m 5.

How does it work?

And what’s Bitcoin?

  • Litecoin: founded in 2011 by a Google engineer as a scaled-down alternative to Bitcoin.
  • Ether: powered by the blockchain Ethereum, it’s the second-biggest cryptocurrency behind Bitcoin. First released in 2015, it’s now a popular way to buy NFTs (hint: stands for non-fungible tokens and refers to unique digital assets, another recent investing mania).
  • Dogecoin: the one nobody was supposed to take seriously. A couple of engineers created it in 2013 as a joke based on the popular Shiba Inu meme.

So this isn’t actually that new. Why are people so into crypto now?

Safe? But isn’t crypto kind of…dangerous?

Okay. But I was talking about the environmental impact.

No, wait. I meant the investing dangers.

How do I buy some?

What if I lose my keys?

What about taxes?

I’m sure there’s more I need to know.

theSkimm

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Reader. Thinker. Entrepreneur (Founder at www.FreshlyPressed.ng) Email: tosinjadeoti@gmail.com

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'Tosin Adeoti

'Tosin Adeoti

Reader. Thinker. Entrepreneur (Founder at www.FreshlyPressed.ng) Email: tosinjadeoti@gmail.com

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