Don't be Scared of Bitcoin
Updated: Aug 26, 2020
If you're like us, you're asking yourself, WTF is Bitcoin and do you have to be totally nuts to be into it? Well, after much research and an amazing conversation with Rachael Horwitz, Silicon Valley veteran, mom, and VP of Communications at Coinbase, we now know that it's an accessible and great way for moms to make money.
Coinbase is an easy to navigate, educational, secure app where you can buy and sell cryptocurrency. But what is this Bitcoin? And how does it work? Here are the brass tacks explained well by Coinbase (another reason they are awesome):
Bitcoin is digital money that allows for secure peer-to-peer transactions on the internet.
Unlike services like Venmo and PayPal, which rely on the traditional financial system for permission to transfer money and on existing debit/credit accounts, bitcoin is decentralized: any two people, anywhere in the world, can send bitcoin to each other without the involvement of a bank, government, or other institution.
Every transaction involving Bitcoin is tracked on the blockchain, which is similar to a bank’s ledger, or log of customers’ funds going in and out of the bank. In simple terms, it’s a record of every transaction ever made using bitcoin.
Unlike a bank’s ledger, the Bitcoin blockchain is distributed across the entire network. No company, country, or third party is in control of it; and anyone can become part of that network.
There will only ever be 21 million bitcoin. This is digital money that cannot be inflated or manipulated in any way.
Still confused?? So were we. So we had Rachel Horwitz on our Band of Mothers Podcast to ask her ALL the questions and she does a great job of breaking down why investing in Bitcoin is a great idea and how Coinbase is the perfect introduction and educational tool to do so.
Also, Coinbase GIVES YOU FREE BITCOIN just for learning about Bitcoin. So even if this feels overwhelming and you don't want to invest much until you fully understand, you can play around with some free money and check it out for yourselves.
Lastly, we know you are asking, but what about Covid-19 and the current economy? How is Bitcoin affected because this seems like a terrible idea? Well, it seems that Bitcoin has proved to be as stable and resilient as Rachel claims it is in this interview. According to a recent report by Coinshare's (another leading expert in Bitcoin investment) head of research, "even after sustaining a drop... Bitcoin not only found a natural bottom, it vigorously rebounded over the succeeding weeks and liquidity levels have normalised. Not only does that demonstrate that what we observed was a market dislocation caused by exogenous shocks, not a broad revaluation, but it also shows that Bitcoin markets are highly resilient and self-correcting, even in the complete absence of external intervention."
We hope this overview encourages you to >>>!!!SIGN UP!!!<<< and explore this stable, secure opportunity if it interests you. It's easy to feel like an monetary investment is a high-risk/gamble-type venture, but we are here to assure you that by educating yourself with this trustworthy source, you could easily find yourself with some skills, knowledge and MONEY you never thought you'd have.