Is this a true story about cryptocurrency?
This is a true story involving cryptocurrency I purchased back in 2017. I didn’t lose a life-altering amount, although many people sadly lost tens of thousands. I did learn a valuable lesson though -one that I hope someone else can learn from! Let’s rewind back to 2017 when cryptocurrencies, led by Bitcoin, were soaring in value.
What is the history of cryptocurrencies?
Modern cryptocurrencies were first described in 1998 by author Wei Dai. The concept fully emerged in 2009 with the release of a white paper that explains the foundations of blockchain and bitcoin.
What happens to your cryptocurrency when you lose your wallet?
Unfortunately, if your device becomes inaccessible or you forget your wallet password, your crypto is effectively gone forever! Long story short, hot wallets are great for making frequent transactions, but cold storage is best for holding cryptocurrency long-term.
What is the second largest cryptocurrency by market value?
Ether, which is powered by the Ethereum blockchain and is the second largest crypto by market value, was trading at a few hundred dollars. Turley bought both. Now, Turley tells CNBC Make It, those early investments have made him a millionaire, growing to be worth seven figures, with 90% of that generated in the last two years.