Episode 39: Erica Stanford – Cryptocurrency Simplified
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Who is Erica Stanford? 00:01

She is a 2009 graduate of the University of Edinburgh with a master's degree in economics and politics. She worked in the sales and marketing arena for 8 years before she became an investor in the cryptocurrency world in early 2017. She is the co-founder of CryptoCurrencySimplified.com which strives to make crypto and blockchain better understood and more accepted in the general public.


What is cryptocurrency? 01:36

It is a digital currency. It does not have a physical counterpart and is secured by cryptography. Cryptocurrency is built on blockchain, which is a way of recording information securely. It allows for the storing and keeping of anything of value without needing a third party (i.e. banks and other financial institutions).


Are there reliable resources available for understanding the world of cryptocurrency world ? 08:09

The majority of the information available is paid for by crypto companies and there are currently no regulations. Thus, the information being relayed is often biased.


How is the information vetted on cryptocurrencysimplified.com? 08:45

There is a team of freelancers and researchers who are well-versed in the industry. All of the information they compile is then reviewed and edited by the website founders.


Are there ways crypto investors can protect themselves against scams ? 10:48

Practically, VPNs and security software are important with crypto and any other information housed on computers. Then, one must inform themselves on the industry and complete extensive research. Be knowledgeable of how quickly the crypto world changes.


What is the future of cryptocurrency ? 19:32

It very well may be the mainstream payment method within the next 5 years, similarly to the current use of Apple Pay. Some sources are already accepting payment from Bitcoin.


Are there certain skills required for someone desiring to invest in crypto or crypto-related projects? 22:40

It is high-risk comparatively. It is recommended that people understand the investment side of it as well as the technological side of it. This is not limited to just becoming involved in the crypto world, though. Individuals should always be as knowledgeable as possible when they are considering investing time and money into anything.

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