Hopewell Valley Student Podcasting Network
Show Name: All About Business
Episode #5: Cryptocurrency
Check out the latest episode of #allaboutbusiness the podcast on hvspn.com. We discuss what cryptocurrency is, how it works, and we will be hearing from a guest who has knowledge on the topic.
You are listening to All About Business, the podcast with your host(s) Prithvi.
In this episode of All About Business the Podcast we discuss: what cryptocurrency is, how it works, cryptocurrency you should invest in, and we will be hearing from a guest about his opinion and experience with crypto, so let’s dive right in and head onto our first segment.
Segment 1: What is Cryptocurrency and how does it work?
In this segment I will be explaining what cryptocurrency is and how it works.
- Cryptocurrency is a relatively new type of currency, the main difference between it and traditional currency is its exclusively virtual, meaning there is no physical form of the currency
- The way it’s created is also unique, instead of being created by a central bank or government, cryptocurrency enters circulation through a technological process which involves the participation of volunteers from around the world using their computers.
- That’s why most cryptocurrencies are described as decentralized, they aren’t controlled by a single entity or nation, it takes entire networks of volunteers from around the world to validate and secure transactions made with cryptocurrency.
- Some Other Differences Between Crypto and Physical Currencies:
- Regulation: Because cryptocurrency is fairly new it is largely unregulated compared to physical currencies. Even with a few regulations established they vary depending on jurisdiction.
- Speed: Cross-border transactions around the world with cryptocurrency can take minutes instead of several business days like physical currency.
- Cost: Cross-border transactions with crypto can also cost significantly less than physical currency.
- Supply: Unlike physical currency, crypto has a limit on how many tokens can be released into circulation. When countries have a financial crisis governments and banks can print more money. But with crypto there is a certain limit to how many tokens can be produced. For example, the number of Bitcoin has to reach 21 million in circulation before it stops being released.
- Immutable: This means that all crypto transactions are final, once they are added to the ledger it’s virtually impossible to reverse it.
- If you want get started you can buy crypto on various platforms, here are a few:
- I will include the links in the show notes if you want to check them out.
- Speaking of buying crypto, there are over 13,000 different types to choose from and in our next segment I will list some that have the potential to grow in the future, let’s head on to segment 2.
Segment 2: Coins to Invest In
In this segment I will list some cryptocurrencies that could grow in the future.
- Ethereum: Experienced tremendous growth over the last 5 years in which it grew over 42,000% from $11 to $4,700. With its current market cap at over $557 billion and growing, this upwards trend may continue over the next few years and is a great coin to buy if you want to see potential significant growth.
- Binance Coin: With a current market cap of $104 billion and a value of $628 it has risen 627,000% over the last 4 years where it started at $0.10. Its amazing growth will most likely continue on and probably reach the $1,000 mark within the next 2-3 years.
- Solana: With its recent launch in 2020 it quickly grew 26,500% from $0.77 to $213.42 as of Nov. 30, 2021. It currently has a market cap of $64 billion and with such a recent start it has a higher potential of growing and carrying its increasing momentum for the next couple of years.
- Cardano: Although a relatively cheap coin, Cardano showed modest growth over the last 4 years growing from $0.02 to $1.57 a 7,850% growth, it also has a market cap of over $52 billion. Its slow growth may be good for those looking for long term investments, while its cheap price may be great for beginners.
- DogeCoin: Although it started out as a meme coin it rapidly grew from $0.0002 to $0.22, a 110,000% over the last 4 years. Its rapid growth was fueled by billionaires like Elon Musk who talked about it as a joke. With a market cap of $28 billion and a very fast growth rate it is a great potential investment.
Segment 3: Experienced in Cryptocurrency
In this segment me and my recurring guest Vayun (Vayun says hi) will be discussing his knowledge, opinions, and experiences with cryptocurrency.
- Do you know any cryptocurrencies that people should invest in right now?
- Why do you find crypto so interesting?
- What about crypto is so interesting?
- Have you researched or invested in crypto?
- Do you know anyone who invests or has invested in crypto?
- Why do you think Bitcoin is so highly valued/how did it become so highly valued?
- Would you invest in crypto in the future?
- What does the future of crypto look like?
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