Can Anyone Explain Crypto to Me?

My husband is into crypto. I would say watch some video's on you tube by The Modern Investor and Crypto Viewing if you have some time. You will have to go back a ways to understand it but they are good in explaining about it. Mike has been in it since late 2019. No not money like you think of money, it is digital currency. You need to download an Exodus wallet on to your computer. When you purchase or earn different crypto's you move the crypto's into your wallet. Some places (retail) are beginning to accept crypto as a form of payment but it is still in the early stages. If you are a PATIENT SAVER this is a good way to expand your portfolio. Mike has several places on the internet where he earns crypto's by watching videos and such. He uses two older laptops and lets them run 24/7 with the different sites. I'm not as smart as Mike is when it comes to crypto but I hope some of this helps you. I hope someone else who is smarter and better to at explaining it can help you with it. Good luck if you decide to try it.

It would be so good if someone can explain it in simple language that makes sense to a layman like me. I am trying to figure out that too. What I learnt so far... it's virtual currency and the rate keeps fluctuating. It can be exchanged for hard cash and then taken to bank. I am really clueless about so many things.

Cryptocurrencies are digital currencies that can be used to buy things like goods and services. They don't physically exist, so they're not just like cash, but there are some similarities like transactions being anonymous. I don't think most banks are involved with them yet because it's still relatively new territory and the regulations surrounding cryptocurrencies are still being sorted out. You can convert cryptocurrencies to your local currency via an exchange site such as Coinbase, though, and then transfer that to your bank account. It's kind of similar to trading stocks in a way: when you buy a stock, you buy a piece of ownership in the company, and when you buy say $10 in cryptocurrency you're buying a specific amount of that cryptocurrency. The value of that ownership stake can fluctuate, but you still own the same amount regardless.

I know nothing about it but the responses you've received here have been very helpful.

I don't know, I'd never heard of it before.

It's all a blur to me. I joined Noise.cash and don't know how to deal with crypto.

Crypto can not go directly to the bank must be sold to an exchange first.

I have no clue.

My younger son and my nephew have made a fortune in crypto. I don’t dabble in it, and certainly won’t bother with Noise. Hope someone can help you.

I don't understand it either.

My simplified explanation: Crypto is a DIGITAL MONEY. If we have US Dollars... Canadian Dollars... British Pounds.... Euro.... Peso.... etc. Crypto has many kinds too and noise.cash is using one kind of crypto which is Bitcoin Cash (not same as Bitcoin). I could say that Bitcoin (BTC) can be the similar of US Dollar and Bitcoin Cash (BCH) can be the Canadian Dollar or Australian Dollar while Ethereum can be similar to Euro or Pounds and Dogecoin can be similar to other fiat currencies with the lower exchange rate etc. Since noise.cash is using BCH we only need a CRYPTO EXCHANGE platform that convert/exchange it in our local fiat currency. Or any trusted "wallets" like bitcoin.com to SAVE/KEEP it long term. Big time investors use HARDWARE WALLETS like Ledger Nano as their "safety vault" for Crypto. In the Philippines we have Coins.ph to convert/exchange BTC/BCH/ETH/XRP etc in Peso. In the USA you have Coinbase.com. You can opt to withdraw your BCH earnings from noise.cash and other crypto earning sites/apps direct to your Coinbase wallets. Just make sure to use the correct ADDRESS - BCH to BCH, BTC to BTC, ETH to ETH etc. The new BCH address always start with "bitcoincash:" If you find a crypto wallet using the old BCH address (does not start with "bitcoincash:") you only need to convert it (will start a discussion about it).

Looks like JJ has explained it well and he has been successful.

Crypto or sometimes called Cyber is a virtual currency. It does only exist in the online world. Today there are markets where people trade the various currencies (at last count, and I don't count often) there are around 10 or more. They operate similar to actual currency. A quarter - has physical value (literally in theory around 25 cents worth of silver/metal) A dollar bill represents the US Governments promise (but actually, isn't worth anything on its own like a quarter) Cyber currencies are also a promise. They were originally cited in a whitepaper (Bitcoin) that introduced a new way to safely move information and financial records (Blockchain) about 20 years. ago. The creator of the whitepaper (who that is, is still in dispute) said there was a limit to how many bitcoin there were in the world. that created value - from there the rest is identical to the great Tulip economy of Holland many years ago.

I am still learning too. Seem should learn that 5 years ago :-D

I hope you found a good answer. I have enough I figure just worrying about my paypal and all my pass words etc. Technology really got the best of me already.

Noise.cash? That's a new one on me. I'm afraid I don't understand crypto cash at all.

I do not understand Crypto at all.

Sorry, can't help you with this as I have absolutely no interest in learning this.

After earning it there, you'll transfer it to a different crypto wallet and change it into cash, then you can move it into your bank account or PayPal. (You will pay a fee to have your cryptocurrency changed into USD.)

Depending on what day it is, my daughter's quarter or half bitcoin is worth $27000. Her friend who encouraged her to buy it a few years back (cheap) says Bitcoin will hit a million. I don't get it at all. What has she got exactly?