Episode Summary: I talk with a cryptocurrency investor and learn about the opportunities in this market.
English Level: B2 🇩🇪🇨🇦
- What is cryptocurrency? (3:27)
- Can my account be hacked? (5:41)
- What are some of the risks involved? (10:41)
- What if I’m not technologically savvy, is crypto for me? (15:51)
- How much time do I need to invest into understanding crypt currencies? (18:07)
- What are some beginner tips for crypto investors? (19:21)
- What are some coins you would recommend? (23:41)
- What would you tell someone who is still unsure about investing into cryptocurrency? (26:52)
- Asset class (noun): an asset class is a group of financial instruments which have similar financial characteristics and behave similarly in the marketplace. Ex. Real estate, commodities (gold, silver), equity (ETFs, stocks)
- Interest (noun): money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt.
- Insane (adj.): shocking; outrageous.
- Blockchain (noun): a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system.
- Bitcoin mining (noun): the process of creating new bitcoin by solving a computational puzzle.
- Volatile (adj.): liable to change rapidly and unpredictably.
- deflate (verb): bring about a general reduction of price levels in (an economy).
Phrases to Remember:
- to stumble upon: To find or meet by chance
- Bull run: a long, extended period in the market when stock prices are on the rise.
- Halving cycle: Halving refers to the number of coins that miners receive for adding new transactions to the blockchain being cut in half. This will now diminish from 12.5 bitcoin to 6.25 and will halve again every 210,000 blocks until the last bitcoin is mined in 2140.
- Market capitalization: the value of a company that is traded on the stock market, calculated by multiplying the total number of shares by the present share price.
- Bear run: a period of time during which prices in a financial market are going down
- Dollar cost averaging: the practice of dividing an investment of an equity up into multiple smaller investments of equal amounts, spaced out over regular intervals.
Mistake to Avoid:
(For habits use Present Simple tense) The platform you use NOT you are using
- What type of returns has Florian seen in the last 30 days?
- Is Bitcoin a centralized or decentralized system?
- What is the total number of Bitcoin that will be available?
- What can you do to decrease your risk in the crypto market?
- Do I need to understand every aspect of Bitcoin in order to invest in it?
- What is the first thing you should know before you invest?
- What are some coins Florian recommends?
Question to consider:
How likely are you to enter the crypto currency market?
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