cryptocurrency

Crypto Update #8

I am not a financial advisor I am a pastor! You definitely shouldn’t invest anything in crypto you are not prepared to lose. Crypto is a high risk investment. That said . . .

Global Adjustments

Back in December, I wrote,

I still have some questions:

What will happen to the world’s economies if such a paradigm shift like Bitcoin takes hold globally? [7]

The upheaval in our financial institutions is going to be enormous. Won’t the rise of Bitcoin crash national economies? How could it not? We would not need banks anymore, at least not in their present form. Switching to Bitcoin is not just switching to a different currency but switching to an entirely different philosophy about money, how it can be used, and who can and cannot have a hand in your financial decisions. It will be a major paradigm shift. 1

If you have been following developments at all you know that governments world wide are scrambling to decide whether crypto is a scam or not, how and if it should be regulated or even banned, how it can be taxed, how it can be supported, and the list goes on.

Golden Opportunity

For this reason, crypto has taken a nose dive to historical lows. But here is what you have to understand: Crypto is not going away! Governments, financial institutions, businesses are all scrambling to figure out how to control it, use it, benefit from it, but you hardly hear anyone anymore saying that is is a fad or a flash in the pan. It is here to stay. Two reasons why: Millennials and jobs!

In an article at Brave New Coin, Alex Lielacher wrote:

…cryptocurrencies have gained substantial popularity among millennials, an age group that constitutes a large part of the voting population. Moreover, the blockchain startup sector has become a major source of jobs. That means it is highly unlikely that economies will go as far as to ban the use of cryptocurrencies and the blockchain.

This is an important observation supporting the idea that, regardless what governments try to do, they will not be able to stem the tide of the blockchain revolution.

So, if you have ever considered getting into crypto (reading the disclaimer and warning above) now is a great time to do it. Bitcoin is projected by some to go as low as $5000 in the next few days or couple of weeks. Ethereum will dive proportionately to Bitcoin. Altcoins are cheap. Ripple is down to the 68 cent mark.

How to do it?

  • Open an account on Coinbase.
  • Buy Bitcoin or Ethereum.
  • Open an account on Binance.
  • Transfer you Coinbase balance to Binance.
  • Purchase altcoins or keep Bitcoin and Ethereum (You can just keep your funds in Coinbase if you are not going to buy other altcoins)
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