What is a Crypto Wallet​

What is a Crypto Wallet​

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What are Cryptocurrencies? 🧑‍🚀

Cryptocurrency is digital money that’s stored on a blockchain.

You can send and receive crypto...

...without middlemen such as banks extracting fees

...without revealing your personal information

...at any time to anyone in the world in minutes

...in fractional shares

However, you do need to...

…pay network fees (e.g., Ether gas) which can be as high as bank fees

…deal with large price fluctuations

…be wary of scams and phishing attempts

Why should I own crypto?

Short term, owning crypto is like being on a rollercoaster.

Long-term, however, there are several arguments for owning crypto:

Crypto is a good investment long-term:

Bitcoin, for example, is the best performing asset of the past decade and the 5th largest “company” in the world

Ethereum, the 2nd most popular cryptocurrency, has grown even faster than Bitcoin in the last five years.

Crypto is a hedge against the traditional financial system.

For example, US inflation is at 6.8%.

So if you have your money in a bank savings account earning 0.5% APY, then you're losing 6% every year.

Bitcoin is a particularly good hedge against inflation because it's capped at 21M coins vs. governments that can always print more fiat currency.

Crypto is needed to get things done.

You can use crypto to send money to anyone in the world, buy a growing list of goods and services, and use decentralized apps to support creators and more.

Crypto is quickly becoming a utility in addition to an investment.

Where can I buy crypto?

Most people buy cryptocurrency through an exchange.

Popular exchanges include:

Binance: The #1 global exchange with low fees, but not accessible in the US.

Coinbase: The #1 US exchange with great security, liquidity, and UX.

Phantom and many more

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