For those struggling to find out what the heck cryptocurrency is, Linda Akkoyan, aka "Crypto Liaโ, He explained it in simple terms in an interview with MTL Blog.
Akkoyan has been in the crypto game since 2016 and spends his days reading, networking, investing, and trading. From defining cryptocurrencies to explaining the reasons millennials should invest and which cryptocurrency exchanges to use, this montreal influence With over 34k followers on Instagram, he made understanding this trendy digital money easy.
You can read our interview with her below. Please note that Crypto Lia's answers are based on your personal knowledge and beliefs and are not intended as financial advice.
This interview has been condensed and edited for clarity.
What is cryptocurrency?
Cryptocurrency is a digital payment system that does not depend on banks to verify transactions.
Currencies are cryptographically protected digital assets distributed over a network.
They are created in many ways: each currency has rules or a consensus protocol that regulates these transactions and the circulation of the currency. So technically users own wallets instead of bank accounts.
Why do you think millennials should invest in cryptocurrencies?
I think millennials should learn about technology and industry before investing.
Cryptocurrency offers an opportunity unlike any other financial tool of the past because it is not tied to a financial institution or a state.
As millennials, we have the unique opportunity to experience the old and the new financial system.
It is important for us to seize that opportunity now. It's very accessible to us, so it's great that we get into it today.
In which cryptocurrencies do you believe the most?
I believe more in Bitcoin. You don't need to own a full Bitcoin, you can own fractions of it. It's always good to have an average dollar cost when buying Bitcoin, which means investing a fixed amount regularly.
But then you have the altcoins, which is everything else, and there are over 10,000 altcoins on the market.
There is Ethereum, which is one of the largest and has created a huge network of projects. It has VeChain which is integrated into the logistics and supply chain. Then you have Cardano, Stellar, and many more.
Many of these coins have a very solid technology behind them and they will go up a lot in price. The coins are attached to a development team, a community; they are like any other business out there.
At the end of the day, it is important to invest in securities that you believe in.
How can someone keep up with the trends and information of cryptocurrencies?
The biggest information centers that exist are Reddit, Twitter, Instagram, TikTok, Youtube and Twitch.
But don't underestimate the power of socializing and networking with people in space, that has been key for me.
For me, the best way to really understand cryptocurrencies is to start using them.
Download a wallet, access an exchange. coin base, crypto.com Y BinanceI would say are the three exchanges Montrรฉal could use (they are all over Canada as well). For starters, I find Crypto.com good, it's very easy to use.
Buy your first crypto and then the process will explain itself.
What advice do you have for people looking to start investing in cryptocurrencies?
It is always important to remain vigilant because there are many scams in the crypto space. So you need to be careful when it comes to opening emails. For example, you may receive an email from Crypto.com and it is not them.
And watch out for people on Instagram. There are many fake accounts that go around saying: "Invest with me, you are going to earn this amount of money."
The crypto space is amazing, there are so many opportunities, and it is safe. But you always have to be careful who you are dealing with.
Whatever you want to do, it is important to do it within the exchange. Beware of all the scams out there because there are so many of them.
The opinions expressed in this article are those of the interviewee and do not necessarily reflect the views of Narcity Media.
The cover image of this article was used for illustrative purposes only.
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