Author: Wayne Burritt

The New Bitcoin ETF BITO: What You Need To Know Right Now!

Posted on by Wayne Burritt

I haven’t anticipated the launch of a security quite as much as the first Bitcoin Exchange Traded Fund (ETF), ProShares Bitcoin Strategy ETF (BITO). And when it finally hit two weeks ago, it was a ton hotter than even the most fervent enthusiasts expected.

But before you take a dive into this ETF, make sure to listen up for a sec. BITO is not all rainbows and unicorns.

What Is An Exchange-Traded Fund?

Before we get into the nitty-gritty surrounding BITO from ProShares, let’s take a step back and revisit what an ETF is under the hood.

An ETF is a type of security that tracks an index, asset, sector, or another asset. They can be designed to track a wide and diverse collection of assets or a narrower basket. They can also be created to track investment strategies.

In fact, if it’s an asset or index out there, there’s likely an ETF that can track it and let you invest in it. Continue reading "The New Bitcoin ETF BITO: What You Need To Know Right Now!" →

Bank of America's Bombshell Crypto Report!

Posted on by Wayne Burritt

When I told you about the jaw-dropping news that came out of Deloitte's 2021 Global Blockchain Survey, I didn't think another report from a financial powerhouse would be so earth-shattering.

I was wrong.

In Bank of America's Digital Assets Primer: Only the first inning, there were so many cryptocurrency and blockchain bombshells that they made my head swim.

So today, I'm going to break down four of the most important of them. And I'll tell you why each one is potentially game-changing for each and every one of us.

Bombshell #1: Crypto is “Too Large to Ignore”

The report doesn't pull any punches and opens with this salvo: Continue reading "Bank of America's Bombshell Crypto Report!" →

What's Up With Crypto Regulation?

Posted on by Wayne Burritt

Bitcoin Selloff and Comeback was Regulation Driven

Unless you've been under a rock over the past couple of weeks, you know that Bitcoin (BTC) got hammered recently and then made a heck of a comeback. See for yourself...

Bitcoin Daily Chart - Cryptocurrency Regulation

Source

While volatility and fundamental factors are always at play, the big reason for the selloff was likely the China ban on crypto. Then the big reason for the comeback was likely the reassurance from U.S. regulators that they will not be following China's ban. Continue reading "What's Up With Crypto Regulation?" →

What You Need To Know About NFTs

Posted on by Wayne Burritt

If you are wondering what all the hubbub is about when it comes to NFTs and cryptocurrency, you’ve come to the right place. I’ll break down what you need to know about this interesting side of crypto and whether or not it’s worth your hard-earned dollars.

So, let’s get to it!

What Are NFTs, Anyway?

To put it simply: NFT stands for “Non-fungible Token.” And since fungible means interchangeable, non-fungible is the opposite: It can’t be interchanged with another. There’s only one. Token stands for a crypto coin. Put them together; you get this: An NFT is a unique, one-of-a-kind crypto asset.

Here’s a couple of examples: Continue reading "What You Need To Know About NFTs" →

Don't Miss This Crucial Ethereum Update!

Posted on by Wayne Burritt

When I first got into cryptocurrency and blockchain, I was fascinated by the idea of a decentralized, peer-to-peer network where I could transact business. But almost immediately, I thought that simply paying for stuff with Bitcoin (BTC) was only the beginning. Blockchain technology could do so much more.

That’s why I was taken immediately with Ethereum (ETH). The platform could do just about anything you could put into code. And that had enormous implications for finance, especially for consumers without traditional financial resources, like banks or brokers.

And today, the case for Ethereum couldn’t be stronger. I’ll give my reasons below. In the meantime, feel free to check out my article I wrote on Ethereum back in May. And also take a gander at my article on why blockchain is changing just about everything we do.

The Nuts and Bolts Behind Ethereum

Before we take a look at what Ethereum (ETH) has been up to – and what awaits it down the road – let’s do a quick review.

Like Bitcoin, Ethereum is an open-source, decentralized, ledger-based blockchain technology. While that may sound complicated, think of it as a fancy spreadsheet with a list of transactions that is copied across a vast array of computers. To transact business on the blockchain, you and the person you’re doing business with have to follow the rules set out in the transaction. If you do – and if everyone else on the blockchain verifies that you did – then the transaction is finalized and added to the blockchain. This all happens using sophisticated cryptography solving complicated puzzles duplicated across all those computers. So, doing business on the blockchain is super-secure.

But beyond these common characteristics, Ethereum is different from Bitcoin in many ways. Here’s what I mean: Continue reading "Don't Miss This Crucial Ethereum Update!" →