WACO, Texas (KWTX) – You might need heard the time period cryptocurrency, or Bitcoin, however what precisely does that imply, and how will you get began with it?
Cryptocurrency is decentralized monetary medium, not linked to any nation. Dr. Rob Tennant, an accounting professor at Texas A&M College Central Texas, stated that’s totally different than most different cash, just like the greenback or euro.
You should use cryptocurrency to pay for items and providers, and a few companies have began accepting totally different types, like Microsoft and PayPal.
Nevertheless, many individuals are investing in cryptocurrency, such as you would a inventory.
Dr. Tennant stated it’s pretty straightforward to buy bitcoin or one other sort of cryptocurrency—all it’s essential do is obtain an app.
“Whether or not or not it’s Coinbase or Robinhood or one of many many others out there on the web, you’ll be able to select to obtain the app, fund your account, similar to you’ll a standard inventory account,” Dr. Tennant stated. “Whenever you get to the worth and the foreign money that you simply need to buy, you’ll be able to you should buy no matter your {dollars} or euros no matter foreign money you could have, will afford you at the moment.”
Dr. Tennant stated the worth of cryptocurrency adjustments steadily, generally by 1000’s of {dollars}.
As of Monday morning, one Bitcoin is value $33,615, in line with CoinDesk. Final week, one Bitcoin was value round $38,000.
“Within the final two years, what they discovered is that the worth of crypto appears to be tied to the worth of tech shares, not as a result of there’s a causal hyperlink to it, however they appear to maneuver in an analogous path,” Dr. Tennant stated.
He stated cryptocurrency could be a good funding, however it’s dangerous. In case you select to put money into cryptocurrency, Dr. Tennant recommends solely investing cash you’ll be able to afford to lose.
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