Crypto

HerMoney Podcast Episode 323: Crypto Questions, Answered

We heard from many of you after our crypto episode 101 (episode #303 to be precise), who was the best cryptocurrency explainer for all things digital currency and blockchain… You had so many questions and honestly there were a lot we couldn’t answer in our 45 minutes together. That’s why we decided to make another show to fill in those gaps and answer some of your important questions about crypto.

Just in the last few weeks there have been a lot of ups and downs in the sector… And that’s putting it mildly. Bitcoin, for example, had a six-month high of almost $60,000, and at the time of our recording today it is at $23,000. Other cryptocurrencies have also suffered serious losses in recent weeks: Ether fell as much as 11%, while Solana fell 14% and Avalanche fell 18%. And then there is Luna, which is the coin that everyone has been talking about this week, which went from a high of $119 in April to being worth nothing, yes, zero, today. We know this is a scary time for crypto investors. Our regular listeners know that my advice has generally been to invest only what you can afford to lose in cryptocurrencies. But today, in 2022, after seeing so much volatility, is that something we should be investing in? Does what we have seen lately change our view that it is an asset class that is here to stay? And is there a way to tell if you’re buying the next Bitcoin cheaply, and stand to make millions, or have you just put your money into the next Luna?

This week we’re not only going to tackle all of your most pressing crypto questions, we’re also going to talk about the future of this asset class and the technology behind it, and we’re going to talk about where we’re going. here.

Shirin Bucknam, co-founder of the Crypto Witch Club, an inclusive and equitable space for everyone to learn about all things blockchain + Web3 technology, joins us to discuss it all. She launched the Crypto Witch Club in September 2021 as a platform to educate women, and everyone, about this space.

Listen as Jean and Shirin discuss the huge, even devastating losses for investors who weren’t diversified, that the crypto market has experienced in recent weeks. We discuss the future of cryptocurrencies and whether it is something we should still be considering as part of our portfolios. We also discuss the environmental impact of cryptocurrencies: Is there a way to invest in ethical and sustainable cryptocurrencies? How do we find them? (We recently discussed NFT in episode #318and our guest, Kelly Groehler, CEO of Alice Riot, delved into the environmental impact of cryptocurrencies… Bitcoin alone is estimated to be responsible for around 114 million tons of carbon dioxide per year). Shirin shares her thoughts on keeping her environmental footprint in mind while investing in crypto.

We also cover how you start navigating this space when you’re just dipping your toes in the investment waters, how you find a coin, coin, or project to get involved with, how cryptocurrency can be sustainable, and how women can get involved in web3 + blockchain if they are interested in working in the field. (And of course, Jean also asks about the failure of “Lonely Ape Dating Club,” which was a dating app that couldn’t actually launch due to the overwhelming outnumbering of men to women who wanted to join the platform. .. the founders just pulled the plug on it completely and of course it became a meme about the crypto brothers culture). So, with this space as male-dominated as we’ve heard, is there hope for women? Shirin weighs in on the future of women in crypto.

At Mailbag, we address questions about single people getting an executor for their estate and SEP IRA accounts. And on Thrive, what to do in times of market volatility

This podcast is supported by Edelman Financial Engines. Let our modern wealth management tips elevate your financial potential. Get the full story at EdelmanFinancialEngines.com. Sponsored by Edelman Financial Engines: Modern Estate Planning. All advisory services are offered through Financial Engines Advisors LLC (FEA), a federally registered investment adviser. Results are not guaranteed. AM1969416

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