Years ago when I started investing in cryptocurrency I had seemingly millions of questions about it. Back then, there was nobody to turn to. It was the wild, wild west. People thought I was crazy for investing in virtual money that probably was going to go away like a ridiculous fad. Well, here we are years later and the same people who ridiculed me back then are asking me questions as they start to invest in crypto, NFTs, and the blockchain. Funny how things change. Anyway, I have compiled this list of questions and answers to make it easier to get started in such investments (by the way, no guarantees but I bet you will be happy if you invest in crypto, etc). Here goes…What is the “Blockchain?”Blockchain is a relatively new technology that has the potential to change the way we do business. It’s taking over in some areas, like finance and government services, but what is it? Blockchain can be defined as an online ledger of transactions that are secured by cryptography. It’s essentially a decentralized database with records organized into “blocks” which cannot be altered without changing all subsequent blocks. If you do a transaction, it is recorded forever and can not be redone.Is blockchain technology growing?Blockchain technology is growing at an exponential rate. It’s projected that blockchain will be worth $60 billion by 2024. That’s a huge jump from about $1 billion in 2017! If you’re not familiar with blockchain, it can be daunting to try and wrap your head around what blockchain is — let alone why it matters for the future of our society. Don’t worry, in the not too distant future, your everyday life will be somewhat based upon the blockchain. You will see.Are blockchain and cryptocurrency the same thing?Blockchain is a type of database that can store digital data in a way that makes it difficult for people to tamper with it. Cryptocurrency is money created by encryption techniques as opposed to being printed or minted like regular currency. For example, Bitcoin was the first blockchain-based cryptocurrency ever made. Crypto uses the blockchain as a foundation. Without the blockchain, there is no cryptocurrency, generally speaking.Can I get rich by investing in blockchain domains?Just like getting into real estate can get you rich, buying blockchain domains are a great way to get richBlockchain domains are the newest form of asset available on the blockchain. Not only do blockchain domains potentially provide high financial returns, but they also provide high utility returns for blockchain application developers, blockchain service providers and blockchain project owners. The number of blockchain projects is expected to grow dramatically in 2022 with an expected increase of more than $9 trillion market capitalization in 2022. Blockchain domain investors will benefit from this massive growth in blockchain services because it creates demand for blockchain domain names much the same way that internet domains were all the rage in the 1990s. The result was that some investors made tremendous amounts of money. It is not too late to be before the crowd.
