30 Jun 2022 | 5 mins
Overview
  • ‘09 was a big year for planet earth. Harry Potter and the Half-Blood Prince blessed our big screens, our should-be-national anthem ‘Untouched’ blasted through the headphones of my hot pink iPod Nano. According to Kanye, “Beyoncé has one of the best videos of all time” (awks for you T-swizzle), Snapchat and Instagram didn’t exist yet, but the O.G crypto did: Bitcoin
  • Even though it’s been around for a good hot minute, crypto still makes everyone feel frazzled. Is it an enigma? You can’t hold ‘em or pull one out of your wallet. So, what the heck is it?
  • You can start your crypto trading journey with Clanz

Forget every myth you’ve ever heard about crypto, there’s a reason why everyone’s so gassed about it. So come along with me, as I, the person who regularly (and confidently) believes that 77+33 = 100, tries to explain what the ~mysterious~ crypto is, what to look out for and show you how easy it actually is.

Know these lingo before you do anything crypto 🥵

NFT. Blockchain. Ethereum. 

No, this is not a case of bad autocorrect or a newly-discovered alien language. These are actual crypto terms we are about to wrap out little brains around. Here’s some of the important ones.

*Googles ‘Crypto Terms for Kids’*

Crypto: Short for crypto-currency. It’s basically a digital, decentralised currency. Just like any currency, crypto can be used to buy and sell stuff with anyone who will accept it.

Decentralised: Cryptocurrencies use 'decentralised control', which means that they aren't controlled by one person or government. This is different to 'centralised' electronic money and central banks, governments and big corporations keeping track of money, which has got lots of people really excited about how we could do things differently in the future.

Blockchain: Blockchain is the technology that enables the existence of cryptocurrency. It is a digital ledger (a book or other collection of financial accounts) of transactions maintained by a network of computers in a way that makes it difficult to hack or alter.

Bitcoin: The OG crypto. As of today, a single Bitcoin’s price was over $40,000. Can someone lend me a time machine, thnx. 🚀

NFT: Short for non-fungible token. Apart from being a word that may just be grosser than moist, fungible means something can be exchanged for its equivalent. So non-fungible, means that you can’t trade the Mona Lisa for your kindergarten drawing of a flower vase. It's unique and can't be replaced with something else… and we aren’t talking about the Mona Lisa.

 

Our top three tips  👀

1. Do your own research and choose your cryptos wisely!

Bitcoin isn’t the only digital currency in town… just sayin. There are tens of thousands of them, each having different value and supply limits. Go down that crypto rabbit hole and soak in as much information as possible and make informed decisions. 

2. Be prepared for volatility

Prices fluctuate. Even wizard crypto traders and owners still have no luck mastering the trends of these virtual coins, so do not be shocked if you find yourself in the same boat. In 2021 a crypto coin called Solana saw over 118% of price volatility vs NASDAQ’s 21%. 

3. Choose a reliable and trustworthy exchange

Your first step when investing in crypto is to choose a reputable exchange. An exchange is where you’ll be buying, selling and, likely, storing your crypto. Like Clanz. They’ve developed a digital wallet that’s simple to use and makes it easy to buy,  sell and convert coins and send and receive crypto, to and from, anyone, anywhere. Their new release coming soon allows you to  follow unique strategies such as thematic portfolios, yield and staking funds, or AI algorithms or better yet follow experienced traders on the platform to see what they’re buying or selling*.

 

Get started  

Learn more about what Clanz has to offer you on your crypto trading journey here.

Make sure to mention Year13 when downloading the Clanz app to get a 50% discount on trading fees for the rest of 2022 plus receive $10 in your Clanz account and more exclusive benefits to help you get started on your crypto trading journey (when you deposit $50 or more!).

 

We did it! Now you have enough info in your noggin to pass onto your uncle at Christmas lunch when he asks, "what’s bitcoin?"

Disclaimer:
Before engaging in crypto trading and/or using Clanz Social/Copy trading features, you should consider your personal objectives, financial situation, and capacity to sustain significant loss. Clanz does not provide any investment advice. Clanz does not warrant the performance, ongoing participation, or profile disclosures of the traders participating as ‘quants’ (traders you can copy). Social/copy trading is dependent on your decisions to copy certain traders and your consideration of and acceptance of the risk of incurring loss.

The following content has been created by Year 13 in conjunction with Clanz as part of a paid partnership. The information is general advice only, does not take into account your personal circumstances and you should do your own research and seek advice before acting on this content. Please see Clanz Terms and Conditions for more information on their products and services. PayFar Pty Ltd, ABN 31 638 408 349.