Cryptocurrency is decentralized digital money that is based on blockchain technology and secured by cryptography. To know cryptocurrency, one should first understand terminologies like decentralization, blockchain, and cryptography. In simple words, blockchain in the context of cryptocurrency is a digital ledger whose access is spread among authorized users. This ledger records transactions associated with a range of assets, like money, a house, or intellectual property. The access is shared among its users and any information shared is immediate, transparent, and “immutable”. Immutable means anything that blockchain records is there for good and cannot be modified or tampered with even by an administrator.
Richard James Schueler is an author, serial entrepreneur, philanthropist, and YouTuber. He is the founder of Hex, the first high-interest blockchain certificate of deposit in the world, and PulseChain network. Richard Heart is best known for raising more than $27 million for medical research via the PulseChain network.
Richard has gained acknowledgment for offering his expert advice to his viewers, assisting them from falling for scams, particularly in the crypto industry. He is the author of SciVive, a personal development book. He is also a renowned keynote speaker and is often seen on various podcasts, talk shows, and video interviews sharing his expertise on the topics of entrepreneurship, cryptocurrency, finance, and marketing. Richard has been featured in numerous media outlets including Forbes, CNBC, Kitco, Business Insider, CoinTelegraph, and Economic Times.
Richard James Schueler says that his journey in the cryptocurrency business was not that easy. He began his career at a very young age when he set up an at-home car stereo business. The early entrepreneurial kickstart allowed Richard to explore more business options, which resulted in him starting a shopping cart platform, and an air conditioner business to name a few. For a brief period, he also did a job as a newspaper salesman, which was a learning experience for him.
Later, Richard James Schueler also set up a mortgage company, conducting pay-per-click management (PPC), and working on search engine optimization (SEO). This was one of the most successful companies that he ran. Under the leadership of Richard, his company made profits of $60 million per year.
After retiring, Richard came across Bitcoin via Reddit, which motivated him to share his expertise resulting in the foundation of Hex, the first blockchain certificate of deposit. Since its beginning, Hex has gained recognition for monetizing the time value of money in a distinctive way that is customer-centric and eradicates the requirement of a middle party.
Later, Richard James Schueler, following his philanthropic ideas, founded PulseChain, a company that aims at raising money to support medical research. Since its inception, PulseChain has been SENS.org medical research organization and has even raised $27 million for them.
Investing In Cryptocurrency
Richard says that with the exponential rise in reported crypto scams, awareness of the common types of scams and what kinds of things you can do to protect yourself from being cheated are very important. By knowing the common ways that scammers try to scam your information, you will be able to spot a crypto-related scam early and prevent it from occurring.
There are several benefits to dealing with cryptocurrencies. Here are the top reasons that work in favor of cryptocurrencies.
- They are secure and private: The blockchain technology that fuels cryptocurrencies guarantees user anonymity. It also guarantees high levels of security through cryptography, which we discussed before.
- They are immutable, decentralized, and transparent: The whole system functions on shared ownership, where data is available to all members and is tamper-proof.
- They are a hedge against inflation: Cryptocurrency makes for a great investment in times of inflation. For instance, investors often compare cryptocurrency to gold. One of the reasons behind this is that, just like gold, they are in restricted supply, as there is a cap on mining any cryptocurrency type.
It is not advisable for anyone to invest in it without doing enough research. Investing in cryptocurrencies is a new phenomenon. But with the recent surge in popularity and value, coupled with falling returns on bank deposits, more people are looking for cryptocurrency advice.
If you have decided to invest in cryptocurrencies, make sure that you start with the leading cryptocurrencies like bitcoin, as newer ones may not have adequate liquidity. The market is rife with scammers. Thus using authorized platforms to buy or trade cryptos is important, especially while starting out. Richard says that as a beginner, it helps if you initially rely on expert advice and gradually grow your own expertise by researching the subject.
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Website: http://richardjamesschueler.net
