Is my money safe?

All investments are risky. Crypto is a completely new asset class with its own characteristics and risks. Most blockchains are ‘safe’ in the sense that once you have a wallet address and have your keys in your possession there is little chance that anyone can move your money except you. However, there are a number of scams circulating that will try to take your money. That is probably the biggest risk. See the scams page for more info on how you can protect your funds.

Is crypto real money?

Crypto is a store of value. It can be exchanged between parties and used as a payment system. It has a standard representation, meaning each unit like 1 Bitcoin must have the same purchasing power as another. It is portable and can be accepted by another party. There is a limited supply and it’s divisible into smaller units. For Bitcoin there are milliBitcoins, Microbitcoins and satoshis. This meets all definitions of money and

Is crypto like a stock ?

In some ways it’s similar to a stock. Purchasing crypto is like betting on the future of a project. Some crypto like bitcoin isn’t a business, it’s a self sustaining network. Where others are truly privately operated by a company. Which ever you choose you’re betting that the crypto will survive and prosper in the future.

Do I have to pay taxes?

If you buy crypto and hold it, the answer is no. However, if you’re planning on selling then the answer is yes. As of 2019 most cryptocurrencies are treated like stocks. I’ll create a nice guide in the future, but for now I’ll leave it to the experts at the IRS and their FAQ here.

Can I just mine crypto on my computer?

Yes you can. Although, it still leaves the tax question when you sell. Almost every crypto currency has a way to mine on your computer or sometimes cell phone. It needs to be noted that the difficulty of most cryptocurrencies in 2019 makes mining on your computer difficult if not impossible.