I get a lot of questions about cryptocurrencies. They run the gamut from basic beginner stuff to advanced trading…
I also get asked a lot why I’m bullish on crypto.
So briefly, what are cryptocurrencies and why are they valuable and so popular?
Cryptos give you a decentralized platform, which means you don’t have one government, one central bank like the Federal Reserve, or one entity that controls them. They are controlled by the users — meaning the people who are mining them and using them.
Price is derived from supply and demand, which is an attractive component and one reason why I’m bullish on crypto. The U.S. dollar and currencies all over the world, for example, are controlled by the various governments that issue them.
Cryptos are also transparent, meaning you have an open ledger of all transactions. For example, Paul paid Peter, Peter paid Mary, Mary paid Sarah, Sarah paid Johnny and Johnny paid Domino’s Pizza in bitcoins.
The transactions are encrypted so you can’t see peoples’ names and information. But the fact that they’re encrypted is a selling point in and of itself and another reason why I’m bullish on crypto. You can see the transactions going from Digital Wallet A to Digital Wallet B, to C, to D… You get the picture.
And that is brilliant because for the first time in human history, you have a way of seeing every single transaction in a certain currency — and it’s not controlled by any government or entity.
Another big selling point is the transactions are just about instant. Think about how long it takes to move money from one bank account to another, or to your brokerage account…
But here’s this disruptive tech being adopted by the masses that can move from account to account in an instant!
Bitcoin is of course the blue-chip name of the crypto world. It’s the most well-known, has the most liquidity and is the most adopted. And it took off in the aftermath of the COVID-19 pandemic as the Federal Reserve began filling the system with new money, sending BTC from $3,500 to $65,000 a coin — in one year…
Check out my short video and I’ll break down Bitcoin, Ethereum — which I said will be bigger than BTC at some point — Dfinity, which I’ve discussed before, Uniswap and Dogecoin!
And we’ll talk more about why I’m bullish on crypto — there are a lot of reasons to be! If you want more information and are interested in trading crypto, check out KingMaker Alerts for my No. 1 crypto play of 2021.
Also be sure to check your inbox each Monday for my free Alpha Intel Weekly Watchlist. I’ll also send you free trade alerts pulled from my watchlist every couple of weeks just as a thank you for being a reader.
And as always, please like and subscribe to our YouTube channel and podcast, “Smart Money Circle,” where I interview some of the most brilliant minds in the business. You can also follow me on Twitter, and read more of my thoughts on the market at WealthPress and on Forbes, where I’m also a contributor.
People are better off throwing their computers through the window than trying to kick-start their week trading on Mondays.
But now, thanks to a brand-new discovery called the Long Weekend Retirement Plan, everyday traders can set themselves up for stress-free, three-day weekends… for LIFE!
We’re talking about placing a simple trade on Tuesday and closing it out on Friday…
With the chance to lock in double-digit winners every single week.