Tag: Blockchain

What Is Dogecoin?

Posted on by Wayne Burritt

When I first started watching the meteoric rise of Dogecoin (DOGE) over the last few months, I couldn’t believe my eyes. And my eyes have seen a lot in the cryptocurrency world!

From trading for less than a penny for most of its life, it shot up to a couple of cents in January. From there, it took off, reaching a high of $.68 in May. It now trades around $.25.

That kind of volatility is nothing new. But when you’re talking about a cryptocurrency with a market cap in the billions, it’s something special.

So, we’re going to break down Dogecoin and see if it’s really worth all the hoopla it’s been getting.

Pronouncing Dogecoin?

First off, how do you pronounce Dogecoin (DOGE)? Continue reading "What Is Dogecoin?" →

What The Heck Is Defi?

Posted on by Wayne Burritt

I have to admit: Decentralized Finance – or “Defi” – is one of the most fascinating aspects of the blockchain and cryptocurrencies. In fact, it’s defi that got me really excited about crypto in the first place.

So, let’s get to it!

Defi Simplified

At its heart, defi uses the blockchain to make complicated things happen while cutting out the middleman in the process. Here’s what I mean...

Right now, finance is run by a hub-and-spoke model. And that model hasn’t changed much in a long, long time. In fact, it’s pretty much the same as it was before sophisticated computers and large financial networks.

And you can see why: The hub-and-spoke model organizes most financial transactions into large financial centers around the globe, such as New York and London. When financial transactions are made, activities are generated in one of these centers. Those institutions then determine the details of the transactions and make sure that they are carried out like all the parties intended.
Really, not very complicated. And for the most part, it’s not a bad system. Continue reading "What The Heck Is Defi?" →

The Truth Behind Mining Cryptocurrency

Posted on by Wayne Burritt

If you’re like most of us, when your first heard about cryptocurrencies, you heard about Bitcoin (BTC). And as you waded through the morass of information trying to get a handle on what Bitcoin really was, one of the first big obstacles you ran into was that BTC comes into existence by a process called “mining.”

I thought to myself, “you mean like gold?”

If that stumped you, you’re not alone. I know it did me.

In fact, as I began my cryptocurrency journey, the process of mining became one of the most fascinating – and tricky – concepts to get my head around. I really didn’t know what to believe.
Well, no worries.

In today’s installment, I’ll give you the truth behind mining cryptocurrency. I’ll break down the basics of cryptocurrency mining, what it’s about, how it’s done, and why people do it. And if I’ve done my job, you’ll get a good understanding without a bunch of technical jargon.

Now, if you’re looking for a starter kit on crypto, I recommend taking a look at a high-level explanation of cryptocurrency and why it’s such a big deal. You don’t need those to get a good understanding of what we’ll talk about today, but they may be able to fill in some holes.

First off, some housekeeping items. Continue reading "The Truth Behind Mining Cryptocurrency" →

Take A Look At Cosmos Now!

Posted on by Wayne Burritt

I tell you, I couldn’t be more excited about our next cryptocurrency.

In fact, Cosmos (ATOM) has some of the coolest features that the crypto world has ever seen.

And if you dig a bit deeper, you’ll discover that Cosmos’s real-world applications mean its price is likely headed much, much higher.

But before we get started, if you’re looking for a good primer on cryptocurrencies and blockchain, make sure to check out what is cryptocurrency anyway and why cryptocurrency and blockchain will transform our lives.

Now, you don’t need to wade through those articles to get your head around this one. But if you like to learn about the nuts and bolts of crypto, those two articles are a good place to start. Continue reading "Take A Look At Cosmos Now!" →

The Best Cryptocurrency Exchange

Posted on by Wayne Burritt

In our prior installments, we talked about Bitcoin (BTC) and Ethereum (ETH), two cryptocurrencies that were worthy of a place in just about everyone’s portfolio: BTC is the big boy on the block and is a great store of value while ETH takes advantage of the computational features of blockchain technology.

Hopefully, I was also painfully clear that investing in any cryptocurrency – including BTC and ETH -- involves substantial risk. You can lose big. So, if you’re thinking about taking the plunge, do so sparingly. A good rule of thumb: Don’t set aside more than 1% to 2% of your portfolio for crypto.

Now, after all, that, if you’re set to invest in a little cryptocurrency, welcome to the club! I think this class of assets is the future. It’s super-exciting and chock-full of potential, including profit potential.

But before you can get to that potential, you’ll need to actually buy some cryptocurrency. So, today, we’re going to do a deep-dive into one of the best ways to buy crypto: By using the popular crypto exchange, Coinbase (COIN).

Coinbase Is Big And Easy

Unless you’ve been under a rock for the past few months, you’ve heard about the wildly popular IPO (actually, direct listing) of Coinbase. Although it's off its highs, the shares now boast an eye-popping $63 billion market cap. And while Coinbase isn’t the biggest on a global scale, it’s the biggest in the U.S. Continue reading "The Best Cryptocurrency Exchange" →