What can I do with Cryptocurrencies?

Cryptocurrencies can be used for countless things, such as payments, private transactions, stability, applications, governance, and decentralized finance. Moreover, since cryptocurrencies are programmable, they can also be utilized for industries like gaming, real estate, entertainment, healthcare, and digital identities. As the industry matures, more use cases for cryptocurrencies will be discovered and invented.

What are the risks involved with Cryptocurrencies?

Nothing is perfect. Cryptocurrencies have their fair share of risks:

Volatility - Since crypto is still young and new, cryptocurrency prices often fluctuate significantly quickly. While this may offer opportunities, it can also be a huge risk.

Regulations - Governments and regulatory entities are constantly debating on how to regulate cryptocurrencies, focusing on points such as definitions, taxation, and usage.

Fraud - Bad actors may take advantage of the anonymous nature of cryptocurrencies, preying on new entrants' money through scams. Stay cautious!

What are Non Fungible Tokens (NFTs)?

Fungible refers to objects that can be replaced by identical items. Therefore, non-fungible refers to objects that are not interchangeable and replicable. They cannot be replaced by identical items, versions, or models due to different builds, qualities, or characteristics. Examples of non-fungible assets are artworks, collectible trading cards, and real estate. Combining the meaning of non-fungibility with that of a cryptocurrency, you come up with a Non-Fungible token: a unique cryptographic asset that exists on the blockchain that cannot be replicated.