CRYPTO...

Crypto is usually short for cryptocurrency or digital currency. My dad was a cryptologist. That is a decoder of secret messages. When I hear crypto, I think secret or spy! :D

I have been watching a lot of videos related to cryptocurrency because I am helping some ESL clients who have an affiliated business. They are app developers working on blockchains. Blockchains are ways to manage the crypto. Other words to know: hash, valedators, node, bitcoin. (See below)

Before I try to explain all this and muddy the waters with my limited understanding, I recommend you do a little research as I did. There are some great YouTubes. My favorites are the ones with the cartoon drawings to show the big picture. Even after looking, I was still a bit confused so I began to ask questions.

Here is a list of my Questions and some Answers:

Q: What do I need to become a valedator?

What kind of investment do I need to make?

What is my risk in investing in crypto?

Which one is best?

Who can help me if I run into a problem?

What bills can I pay with crypto?

A: a good computer and maybe some up front money

Investment depends on the type of crypto

Risk is you could lose it all so don't put all your eggs on one basket

The best is also the most expense; so what can you afford?

Ask a crypto expert.

Not utility bills and you must make sure your investment has enough cash before doing transfer.

DEFINITIONS:

ESL English as a Second Language

App is an application

Cryptocurrency is digitial currency

Bitcoin is the first and most valuable crypto

Blockchain is the data management system for transactions

Valedator is a blockchain manager

Node is a computer with special software need to have a blockchain

Hash is the code for the transaction

CAVEAT EMPTOR ....buyer beware

1. Crypto is a risk

2. I am NO expert, only a beginner who has not yet made an investment. So I only have a basic understanding, but NO experience

3. If you are an expert and see I have something wrong, please enlighten me and all my readers.