Titbits On Technology, Internet Services & The Web In Ghana

Cryptocurrency is not one thing. Cryptocurrency is many things with a blanket name.  Is it a good investment? Some are, some are not.  Why is cryptocurrency, many things? 1. Some function as collectibles or just like art or gold bars (e.g. bitcoin -BTC, NFTs). Are art a good investment? 2. Some function like stocks of companies, giving you voting rights etc on their projects and earning dividends (e.g. TRX etc). Are stocks a good investment? 3. Some are memes or just for fun with no clear use case but still have all the qualities of a cryptocurrency (e.g. doge etc). Is joining something that is being hyped a good investment? 4. Some are used as fuel or the underlying transport mechanism for running a process on the blockchain called smart contracts. (e.g. eth gas and BNB etc). Is owning fuel a good investment? 5. Some are used as money and aim to replace the money we know (e.g. Bitcoin Cash - BCH etc). Is owning what may become generally used as cash a good investment? 6. Some...

 Crypto Edu Series: Cryptocurrency primarily digitizes money and assets on the blockchain among other uses including securing collectibles such as art (NFTs). This post talks about one cryptocurrency solution to holding your funds in a dollar denominated cryptocurrency. The focus will be on USDT.  What is USDT? USDT is a very popular though somewhat controversial cryptocurrency that is issued (minted not mined) by Tether company with the value pegged to USD. There is currently $56,861,486,476.23 circulating supply which is actively held and traded by individuals and on exchanges. Pegged means 1 USDT = 1 USD. It is expected that for every USDT in circulation, there is a matching USD held by the Tether company to represent it. Such pegged tokens are referred to as "stable coins". Stable because they avoid the volatility characteristic of a typical cryptocurrency by being pegged to a national currency, commodity or asset. There are other USD pegged cryptocurrency tokens. https...