“All I know is that my kids have been bugging me all summer to get a pool, but I said I can’t afford it,” said Ryan Williams, a school bus driver from Middletown, DE.
Being a 35-years-old father, Ryan wanted nothing more than to provide his kids with the ultimate hot summer escape – a pool situated right smack in the middle of his backyard, enabling his family to enjoy these hot summer days.
Up until a few months ago, Ryan would not have been able to afford the luxury he recently added to his home – but thanks to Bitcoins, he can finally sleep better at night, knowing he put his money to good use.
Ryan is not the only man to invest in Bitcoin trade – as a matter of fact, the American middle class is obsessed with the discovery of being able to buy credit of the unregulated cryptocurrency, in spite of most of them being unaware of how exactly it works.
Commonly referred to as “digital gold,” Bitcoins are kept in digital wallets by individuals who made relatively small sized purchases of the currency. In order to spend a portion of the money made more easily, the buyer may transfer the Bitcoins to the “BitPay” card, which is a debit card designed to help spend Bitcoins more easily at brick-and-mortar stores.
Williams revealed his trading secrets to his family members, and before he knew it, his brothers and mother made a similar purchase.
Polychain Capital’s Founder, Olaf Carlson Wee, explained why he too formed a company in the digital asset hedge fund field: “I do think we’re seeing more ‘normal people’ invest in crypto assets,” naturally making the online currency more popular among wider target audiences.
Other than the popular Bitcoin, there are more than 1,000 other currencies, just like the original one. Other types of cryptocoins claim they are safer than Bitcoin, but Dr. Chen Wu, an associate professor of finance at the University of Texas, thinks they’re all the same – dangerous and unsuitable for the “regular Joes.”
“Bitcoin (and vast majority of other cryptocurrencies) are inappropriate investments for small investors with limited means and appetite for risk,” wrote Wy in an email addressed to NBC News. “They have been piling into them because of the spectacular returns Bitcoin in particular has achieved in the past years.”