The Lima Rotary Club gets a course in the growing cryptocurrency market.
Expert Adam Swick talked about digital currency, like bitcoin, and how thousands of computers from around the world keep track of digital transactions much like a bank does with money. Swick says the value for cryptocurrency is simple supply and demand, there are only so many digital coins that exist and if there is higher demand, the price goes up. If you are looking at investing in cryptocurrency, it is best to do your homework first.
“Cryptocurrency is a volatile world. I mean this is much more volatile than stocks much riskier than your stocks. But I am a big believer in this space,” says Adam Swick, VP of strategy at Marathon Digital Holdings. “I think it is worth being educated about it first and then investing a small amount of your money. I think this is the money of the future, again this is not something that you dump your kids' college saving into. But for any investment you make get educated, learn about the space. I think that is the most important part.”
Since digital currency is around 10 years old, Swick says we have only started to understand the possibilities of what can be done with bitcoin and the other cryptocurrencies.
