A Trio of Tier 1 Cryptos Every Newbie Should Own
Many investors are scared of cryptocurrencies, and I can see why. Here are a few reasons why there are so many people who have not bought any crypto yet.
The technology is exceedingly difficult to understand. Pretty much every coin has a website, and a white paper explaining the technology. If you're not a computer programmer, much of that is going to sound like ancient Greek. Plus, there are thousands of coins, each one representing a blockchain network, and each one with its own technology. It can be bewildering trying to figure out which tech is superior.
And if that's not enough to scare you off, these companies (or non-profits) are private. That means they don't have to share their financials with you. There's little to no regulation from the Securities and Exchange Commission, no quarterly reports or annual reports or S-1 filings. If you like government regulation, and I guess some people do, the crypto universe has been described as the Wild West, and there's a lot of truth to that. So that's scary. Can you trust the numbers? Plus a lot of us -- most of us -- are comfortable with dollars, and we feel like dollars are going to be around for a long time, and that's good enough. We don't really need any more currencies.
Source Fool.com
