Go Big with Gib Podcast
Go Big with Gib is a podcast for professionals, business owners and entrepreneurs to talk about their big wins.
Go Big with Gib Podcast
Ep 76. Crypto 101
Cryptocurrency offers exciting investment opportunities with the potential for significant returns, as demonstrated by my personal 200% gain in just two months. This episode breaks down the fundamentals of crypto for beginners, from understanding blockchain technology to practical steps for getting started safely in this rapidly evolving space.
• Explanation of cryptocurrency as digital currency using cryptography and operating on decentralized blockchain technology
• Overview of Bitcoin as digital gold and Ethereum's role in powering smart contracts and decentralized applications
• Discussion of crypto's investment potential with Bitcoin reaching $105,000 while acknowledging its high volatility
• Step-by-step guide for beginners including choosing exchanges, setting up wallets, and buying first cryptocurrencies
• Addressing common misconceptions about crypto's complexity and the importance of research
• Future outlook with predictions of Bitcoin potentially reaching $150,000 by end of 2025
• Personal journey from skepticism to seeing crypto as part of a diversified investment portfolio
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Welcome to the Go Big With Gibb podcast, where we talk to professionals, business owners and entrepreneurs about their big wins. Welcome to this episode of Go Big With Gibb, where we explore the worlds of investments, entrepreneurship and personal growth. Today, I'm excited to bring you a special episode called Crypto 101. If you're new to cryptocurrency or just want to refresh your knowledge, this episode is for you. I'm Gib Irons, your host, and I'm here to share what I've learned in my two-month journey into crypto, where I've seen some incredible gains, up 200% overall. Let's start with the basics.
Speaker 1:What is cryptocurrency? At its core, cryptocurrency is a digital or virtual currency that uses cryptography for security. Unlike traditional money, it's decentralized, meaning it's not controlled by any government or financial institution. The most famous cryptocurrency is Bitcoin, which was created in 2009 by an anonymous person or group known as Satoshi Nakamoto. Why was crypto created? Known as Satoshi Nakamoto? Why was crypto created? The goal was to provide a secure, decentralized way to conduct transactions without intermediaries like banks. This introduced blockchain technology, a public ledger that records all transactions across a network of computers. Blockchain ensures that transactions are secure, transparent and tamper-proof. Now let's talk about how crypto works. Each cryptocurrency operates on its own blockchain. When you make a transaction, it's verified by network participants called miners or validators, and, once verified, it's added to the blockchain. This process makes crypto transactions incredibly secure and efficient.
Speaker 1:There are thousands of cryptocurrencies, but the two most prominent are Bitcoin and Ethereum. Bitcoin is often seen as digital gold, a store of value, while Ethereum is known for its smart contracts and decentralized applications, or dApps, which power everything from DeFi, decentralized finance, to NFTs, which is non-fungible tokens. So why should you consider investing in crypto? The potential for high returns is a big draw. For example, as of today, march 31st of 2025, bitcoin is trading at about $105, which is close to its all-time high of $112,000 earlier this year. That's a massive increase from just a few years ago. However, it's important to note that crypto is highly volatile. Prices can swing wildly in short periods. That's why it's crucial to invest wisely and only with money that you can afford to lose. But investing in crypto isn't just about Bitcoin. There are other exciting cryptocurrencies, like Ethereum, which power a vast ecosystem of decentralized applications, and newer projects that offer innovative solutions in areas like finance, gaming and even real-world asset tokenization.
Speaker 1:If you're thinking about getting started with crypto, here's a basic guide. Number one choose a reputable exchange. Look for secure, liquid and regulated platforms like Coinbase or Kraken. Number two set up a wallet Wallets store cryptocurrencies. For beginners, a software wallet like Uniswap or Phantom is a good starting point. Number three buy your first crypto. Decide which cryptocurrency to invest in. Start small and only invest what you can afford to lose. Number four stay informed. The crypto space evolves rapidly. Follow reputable news sources, join communities and keep an eye on market trends.
Speaker 1:Now let's address some common misconceptions. First, crypto isn't just for tech-savvy people. While it might seem complex at first, there are plenty of user-friendly platforms and resources to help you get started. Second, not all cryptocurrencies are created equal. Some are legitimate projects while others are scams. Always do your own research before investing.
Speaker 1:Looking ahead, the future of crypto looks promising. With increasing adoption by institutions, more regulatory clarity and ongoing technological advancements, cryptocurrency is becoming a mainstream asset class. Predictions suggest that Bitcoin could reach $150,000 per coin by the end of 2025. But remember, these are just predictions. The market can be unpredictable. Before I wrap up, I wanna share a personal note. When I started my crypto journey two months ago, I was skeptical, but after seeing a 200% gain, I'm convinced that crypto has a place in a diversified investment portfolio. That said, always remember to invest wisely and never put all of your eggs in one basket. Thank you for joining me on this episode of Go Big with Gibb. If you found this episode helpful, please subscribe and share with your friends. Until next time, keep going big. Thank you for listening to this episode of Go Big with Gibb. If you haven't already go, follow us on social media at Gibb Irons. We'll see you next time.