What is Cryptocurrency?

What is cryptocurrency - Bitcoin, Ethereum and XRP coins on fiat money

The World of Digital Assets

We are living in exciting times to be able to recognize the adoption and implementation of digital assets in society. If successfully executed, these digital assets will revolutionize our transfer of money globally. Not only will society be positioned on a universal platform known as the blockchain, but the internet of value will allow the transfer of money and liquidity smoothly and efficiently. It will no longer take 3-4 business days to send large amounts of money internationally; it will be like picking up a cup of coffee. So what is cryptocurrency?

Cryptocurrencies are digital assets designed to solve problems that work on the blockchain. The blockchain is a system in which a record of transactions made in bitcoin or another cryptocurrency are maintained across several computers that are linked in a peer-to-peer network. Cryptos are not meant to replace fiat or cash. Each token or coin is created by a company that intends to solve a problem in technology, supply chains, finance, E-commerce, etc. The exception is Bitcoin which is not created by a company but by a hidden entity named Satoshi Nakamoto. Why the entity is hidden is beyond me. Frankly, I think the entity should be revealed. Why all the secrecy?

What is cryptocurrency - Ripple token

Cryptocurrency – The Future of Humanity?

Whether it’s Bitcoin, Ethereum or XRP, not many coins will survive in the long-run. Out of the 5,709 coins in existence, most likely 10-15 will remain prevalent in the mainstream world. It’s way too early to spot the future top contenders but the race is certainly on. Regardless of competition, we should all work together to help adopt this emerging technology that can help millions of people around the world. Third-world nations, in particular, need and deserve the most help from this promising technology.

Bitcoin is slowly adopting the role of “digital gold” while XRP wants to implement a new system that will make cross-border payments flawless. What about Dogecoin? The “joke cryptocurrency” that has been gaining momentum since Elon Musk has been talking about it is no longer a joke. Now there is also Shiba Inu! The easiest way to start learning about cryptocurrency is by watching educational and informative YouTube videos and doing your own research on the internet. I am not an expert at cryptocurrency so I don’t even want to attempt to get into the details. I just provided you with a very basic understanding. Your role is to now fall down the rabbit hole and become educated.

Warning! Once you get into crypto, be aware that you might become hooked (in a good way I hope).

Are you Ready? (This is Defeating Stigma Mindfully)

What is cryptocurrency - smiley GIF

Coronavirus Crashing Markets

Ethereum coin with logo on purple and black background

Coronavirus vs. Cryptocurrency

Part of the fear of the coronavirus crisis is that people are becoming worried about their investments and life savings. This is understandable considering that financial stress can bring upon anxiety and even depression. As the coronavirus continues spreading, the stock and cryptocurrency markets will continue to decline. Is this a good time to invest?

First things first: do not panic. Remember that your mindset means more than anything. If you think negatively, then your reality will attract negative results. If you think positively, then no matter how much negativity is in the environment, you will continue to be protected. The moment that you start accepting this mentality is the moment that you will start to see a change for the better.

At the end of the day, you have to decide whether investing during these times is wise. If you have been reading my previous articles, then you know how important it is to develop the skill to listen and trust your intuition. Believe it or not, while intuition is natural, many of us ignore it quite often, resulting in mistakes in our relationships, work environment and everyday matters.

This article is not meant to provide financial advice. But what this article provides is the emphasis on maintaining a positive state of mind, while the coronavirus continues eating away at the markets. Even if you see your financial portfolios crashing, you don’t want to make any drastic and impulsive decisions.

You always want to give time for your mind to marinate on a certain scenario. People who are successful in investing do not make impulsive decisions. This is because they are confident and do not allow a crisis like the coronavirus to ruin their lives by making poor decisions overnight.

If you are interested in investing in cryptocurrency, then you can start by taking a look at coinmarketcap.com. This is the official rank list for all cryptocurrencies in existence. The most talked about coins during recent times have been:

  • XRP
  • Bitcoin
  • Ethereum
  • Litecoin
  • Chainlink

Gold and silver are also very much talked about nowadays. Regardless of whether you decide to invest or not, remember one thing: your mindset and health come first. Continue to exercise, eat healthy, maintain good hygiene, meditate, socialize, stay positive and have fun! Do not allow the coronavirus to influence your mind.

The coronavirus is here to disrupt modern day society, but it should not disrupt you. See this as an opportunity for you to become bigger, better and stronger despite adversity.

Are you Ready? (This is Defeating Stigma Mindfully)

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