Crypto Basics
A Beginner's Guide to Cryptocurrency Investing
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Crypto Basics
Narrated by:
Virtual Voice
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Narrated by:
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Virtual Voice
This title uses virtual voice narration
Virtual voice is computer-generated narration for audiobooks.
About this listen
According to Forbes Magazine, major US banks reported over $12 Billion income from overdraft fees in 2020. That’s the money you, your family, and your friends worked hard for and saved in the middle of a global pandemic, and it’s gone. And what did you receive in exchange for these fees you paid? The privilege of saving your money in a fancy bank account that collects more dust than interest? If you’re too busy not laughing out loud, you might be wondering why we use banks at all. There are benefits to banking but watching your money grow is not one of them.
Why do banks hold our money? Why do banks dictate who gets a loan? Why do we let big corporations control our financial opportunities? The traditional financial institutions pick and choose who gets access to loans and fair financing. How can we trust them to be impartial gatekeepers for the next generation of financial investments? During the pandemic, most small businesses struggled with slow or no access to PPP loans while corporations and large businesses received red carpet treatment. Even the stock markets are monopolized by financial institutions and big trading companies who use fiberoptic internet to trade faster than any one person can participate. The decisions that determine who is granted real access to profitable opportunities are too often made behind boardroom doors.
Cryptocurrency offers a way to divorce ourselves from the current financial system and the way it constricts our growth, a way to emancipate from the constructs that have held us down for centuries. The banks gamble with our money, keep 99.9% of the profit when they win and get reimbursed by the government when they lose. Do we really expect them to let us into the game? When whole cultures and generations of people have been blocked from the opportunity to invest meaningfully and earn a decent return on investment, are we surprised that our economics revolve around borrowing money from others? What if we could grow our own finances without permission from the mysterious people who oversee the financial system from the shadows? We already know that low interest rate loans are not available for everyone. It is a privilege to be able to borrow large amounts of money from strangers, a privilege that is not available to everyone. Imagine if you could cultivate your own ability to multiply your savings without relying on the big banks? Crypto investing offers that opportunity to anyone willing to try something new.
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