Right now, the world of cryptocurrency is like the Wild West. Just think of all of them modern prospectors in search of their fortune. If you are looking for gold in the digital world, I have tons of resources to help you out!
In a recent episode of Kim Komando Explains, my team and I give you all the tips you need for a successful crypto career. Basically, now is the best time to jump on the bandwagon. Retailers are also starting to accept digital currencies. (We even heard that Amazon will add crypto payment features!)
Get this: Some nonprofit groups accept donations through cryptocurrency. I spoke to recently The New York Times about how this can create a revolutionary game in the world of gift giving. Here’s what you need to know.
Sounds great … but it’s also pretty complicated
As with all things nebulous blockchain related, cryptocurrency donations are difficult for laypeople to understand. This is one of the biggest hurdles for donations.
Charities may not have the money to hire IT professionals to figure out how these donations are processed. You may not even understand how they work. That means they could be missing out on a lot of money.
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Second is the problem of volatility. If you’ve caught up on the news, you probably know that bitcoin prices are extremely sensitive. You will one day take off like a rocket and soar to new heights.
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The next thing you know is that Bitcoin is crashing towards earth, making dollar signs plummet in value and bleeding. Let’s say a charity receives $ 7 million in bitcoin on a Friday. The value could drop to $ 6.5 next Monday. (This is just an example; we’ve never heard of it, but it’s good to think about.)
Overall, they can be difficult to understand for people who are not tech buff. They are also much more difficult to predict than cash donations. When you donate $ 7 million in fiat currency, that value will be preserved. The same cannot be said for cryptocurrency donations.
Would you like to learn more about cryptocurrencies?
I’ve received a lot of requests to get an in-depth look at the Wild West of cryptocurrencies. So I wrote a brand new one eBook “Cryptocurrency 101” only for you! It sheds light on the buying, selling and spending of cryptocurrency in today’s digital world.
Get it now while you are thinking about it so you can read it later. It is not yet known which cryptocurrencies Amazon will accept. (Keep in mind that there are over 10,000 different types of cryptos available.)
I’m proud to say it’s already on the bestseller list! Check it out now and impress your friends with all of your inside knowledge.
Crypto is a way to make money, but it’s not for everyone
There are many ways you can use your free time to make extra money. I did the work and collected it for you. Tap or click here for 20 ways to make money online.