Everyone knows someone who knows someone that allegedly got rich from crypto investing before it became a whole thing.

But if you don’t identify as a crypto billionaire (yet), here’s what you need to know so you can actually follow the next crypto conversation you find yourself in!

Starting with the most important question…

What is crypto?

Cryptocurrency is digital currency that can be used to buy goods and services.

Digital currency just means it's a currency that's stored on the internet, and it's secured by cryptography - which means it's pretty much impossible to do a dodgy with crypto (i.e. counterfeit or double-spend it).

Without getting into the nuts and bolts of it, crypto works on blockchain technology, and it's not issued by a central authority like a bank.

It's issued by the people, for the people, which is why some people love it - but others think it's a bit of a cowboy's game.

You’ve most likely heard of the big dawgs of crypto - like Bitcoin and Ethereum.

Or meme coins like Dogecoin that originated from an internet meme but can still be traded with real (although very volatile) value.

Bitcoin is famously bad for the environment (cos Bitcoin mining uses a TONNE of energy), and it's also prone to massive price swings.

But did you know there are more than 15 million different cryptocurrencies trading publicly on crypto platforms?!

Over the past few years, we’ve seen cryptocurrencies become more and more mainstream - with Tesla, Paypal and Apple recognising cryptocurrencies in some form.

Why are crypto fans so into it?

The reason people invest in cryptocurrency is because it is not dictated by inflation. Buyers are able to control the prices by working together to increase demand (like when Gamestop investors became overnight millionaires back in January 2021).

But people genuinely believe crypto is the future of currency.

I mean, we're becoming increasingly digital anyway, so a digital currency does make sense.

Now, big companies like Paypal, Apple and Tesla are offering cryptocurrencies as acceptable transactions within their businesses.

But there are many, many, MANY risks associated with investing in crypto: security, volatility...you name it. So, it pays to do your own research!