Frequently Asked Questions
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What is crypto?
Crypto is a collection of binary data which is designed to work as a medium of exchange. Individual coin ownership records are stored in a ledger, which is a computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership.
Is crypto a scam?
Crypto is legitimate, but like most things, there are scams. Preparation and understanding will help you avoid most pitfalls.
Where can I learn about crypto?
Crypto is advancing so rapidly that education to the masses can’t keep up. There are many online classes available for the self-learner (and if you are that type, we applaud you,) but for those who would rather gain the knowledge in person, we hope that you will consider Cryptical Thinking as your educational resource.
How do I get started in crypto?
Initiate. Procrastination is a real enemy here. Crypto is growing exponentially and so is the technology around it. Sign up for a clinic, get online, watch videos, whatever elevates your understanding!
How do I set up a crypto account?
Crypto accounts are set up like most financial accounts. Be prepared to go through the process of setting up your user name and establishing a password. Most platforms now use 2FA so be ready to pick a PIN number as well. Once you get signed up, you’ll need to verify your identity with your driver’s license and then the final step will involve getting your banking connected. An email will be sent to you confirming your account opening. From there, you are ready to take the next step.
How do I protect my crypto assets?
Due to the nature of crypto and the freedom from regulation it provides, crypto protection is a top priority. There are several ways to accomplish this and multiple levels of security. This is a vital part of learning about crypto and needs to be understood before any purchase.
What We Can Do For You
We can help bring clarity to many of the questions and concerns regarding this paradigm shift in how we interact with our money and above all, how we interact with each other.
Why Crypto Currencies?
The history of money is not a pleasant story and like many things, greed and power have corrupted it over time. Although still in it’s infancy, cryptocurrencies and digital assets may be a solution to these flaws. There are those who point directly at financial catastrophes, like the collapse the United States had in 2008, as primary reasons for the creation and development of cryptocurrencies. The need for decentralization is clear and crypto currency is the answer.
Crypto currency is being rapidly adopted by users worldwide. As of the end of 2021, there were more than 300 million active crypto accounts in the world. Given that there were approximately 140 million at the beginning of the year, the number of crypto users has increased over 100% in the last 12 months.
One of the fundamental principles of blockchain technology. Blockchains are a series of blocks (grouped and validated crypto transactions) that, when combined, act as a permanent, irreversible and unalterable ledger. These digital ledgers detail the entire history of transactions in a particular crypto currency.
One of the advantages of crypto currency is aligned with its main goal, transparency. It accomplishes this by making every transaction conducted on a blockchain publicly accesible via the internet. The one thing in crypto that isn’t transparent, is your privacy. Although transactions can be looked up anytime, they never identify the parties involved.
As a disruptive technology, crypto challenges the current centralized systems of government, institutions and traditional banking.
Much more than money
Once you learn about crypto, you’ll quickly realize that this paradigm shift is so much more than just digital money. Examples of where crypto and blockchain technology can be applied are banking, voting, real estate, insurance, healthcare, advertising…and the list goes on.
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