Invest Financial Planning

HerMoney Podcast Episode 303: Crypto 101

Kathryn Tuggle  |  January 26, 2022

The ultimate intro to cryptocurrency. How to open an account, how much to invest (and whether you should) and so much more.

We’ve heard from so many of HerMoney’s listeners over the last few months about cryptocurrency. You want to know what it is, whether or not it’s safe, how to invest in it, how much to invest, and so much more. Frankly, new asset classes can be intimidating. And after living through a time when so much has seemed uncertain in the markets and in our economy, a lot of people who might have been considering taking the plunge into crypto two years ago are still sitting on the sidelines today, saying, “Should I?” “Is the timing right?” 

Our hope is that this week’s show will answer all your questions. Here’s a look at some numbers for context: 

  • Between 2012 and January 2022, Bitcoin has gained 195,500% in value. 
  • The total cryptocurrency market cap stands at $2.05 trillion, equivalent to the 8th largest economy globally
  • The average daily cryptocurrency trade volume has is $91 billion per day
  • Total venture funding for the blockchain industry in 2021 was $21.4 billion, up from $3.6 billion in 2020. 
  • And 55% of the top 100 banks have made investments into blockchain technology, the technology behind cryptocurrency. 

Even the most skeptical of investors among us — those who may have said that crypto was just a flash in the pan — have been stopped in our tracks by numbers like these. 

And to help us understand the “why” behind these numbers is Bill Ullman. Bill is the Founder of The Daily FinQ, an app focused on financial literacy, and CEO of Water Street Advisors. Bill is also Chairman of the Advisory Board of “Jewel,” Bermuda’s first licensed cryptocurrency-focused bank. 

Listen in as Bill defines cryptocurrency for those of us who are still unclear on this asset class, and explains what’s going on with some of the brand names we hear often, including Bitcoin, Ethereum, Tether, Solana, Coinbase, and many more. Bill also answers the question it seems everyone wants to know: Is it too late? Did I need to invest in Bitcoin 10 years ago? Has the ship sailed? 

Also, now that crypto is a part of some 401(k) accounts (yes, really) we talk about how seriously we should be taking it as an investment class, and the place it should hold in our investing lives and portfolios. We also get real about just how much of our portfolios we should be investing in crypto, and what it means to do your research and see where the market goes. Of course we also tackle the fear around it — is it because of the lack of tangibility of the asset, or is it because people are worried they are going to get hacked and lose all their money? We talk fraud.) 

If you’re ready to get invested in crypto, Jean and Bill get tactical about how to do it, and what it means to be invested in this asset class. For example, you can buy crypto directly, buy stocks of companies that are servicing the industry, buy shares of the most popular trading platform Coinbase, or even purchase companies investing in blockchain technology… In other words, the sky’s the limit. 

In Mailbag, we hear from a listener who’s son’s “Plan B” college choice turned out to be the best decision ever, and a mom asks about her child’s 529 allocations. In Thrive, how to create a financial vision board. 

This podcast is proudly supported by Edelman Financial Engines. Let our modern wealth management advice raise your financial potential. Get the full story at Sponsored by Edelman Financial Engines – Modern wealth planning. All advisory services offered through Financial Engines Advisors L.L.C. (FEA), a federally registered investment advisor. Results are not guaranteed. AM1969416

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The HerMoney podcast is supported by      Edelman
All advisory services offered through Financial Engines Advisors L.L.C. (FEA), a federally registered investment advisor. Results are not guaranteed. AM1969416

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