This guide is meant to serve as both an easy-to-understand introduction to the world of cryptocurrencies as well as an insightful view into the different projects competing for your investments and market dominance and a look at the underlying technology, history and trends.
For many years Bitcoin would occasionally appear in the media after it spiked in price. I didn’t think there was anything inherently useful about it. I thought it was a novelty, a ponzi scheme, hysteria. It was only after the most recent price spike in another cryptocurrency, Ethereum, that the crazy returns finally tempted me. What started out as a skeptical look into a get-rich-quick scheme led me down a rabbit hole and my mind was promptly blown at the potential of the technology. The hype surrounding it is nothing short of mania, but it’s not without merit. Cryptocurrencies will almost certainly revolutionize everything from insurance, logistics and the stock market to ownership and even create entire economies which don’t currently exist. You may feel skeptical when hearing something so optimistic but when banks, governments and research institutions start to take notice and want to work with these projects maybe it’s time we paid some attention.
Many of you reading may be likening the current craze with the dotcom bubble and I’m afraid I absolutely agree with you. The speculation surrounding cryptocurrencies and the ease of which the average person can invest has created an environment where an idea can raise hundreds of millions of dollars without even a proof of concept. This is part of the reason this guide was written, to steer you clear of these massively overvalued “pet.com” equivalents and towards the future Amazons and Googles.