ItsDoorway
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ItsDoorway

What You Should Know Before Investing in Bitcoin

Photo by André François McKenzie on Unsplash

Joel Edgerton:

Bitcoin originally started after the financial crisis of 2008. It was set up as a response to the banks collapsing and losing trust within the financial system. It allows people to bank themselves and has their currency store, just like gold or something like that. Traditionally, whenever there’s risk in the markets, people flee to gold as a way to protect themselves from that.

• How does Bitflyer work?

Bitflyer is a traditional, centralized exchange. A customer can sign up. We have a little bit of KYC (know your customer) because we’re fully regulated, so we have to pay attention to the laws we have to meet. Then, they can add their company onto the platform and buy Bitcoin or other coins that we sell. It’s effortless, very easy. They can hold it, and they can use it for exchange. They can take it off the platform to put it into their wallet. It’s a centralized exchange for people to buy cryptocurrencies.

What is the first step they should take for someone who is new to this world and wants to get started?

Well, the first one is to pick a company that they can trust that’s been around for a while, that is licensed, that’s going to protect them because you hear a lot of different things about scams. You see on YouTube; there are other scams and stuff like that.

What part of managing these operations is so rewarding for you?

I think the best thing is just seeing growth: the growth of our customers, the growth of our people, as we solve new problems. Also, getting into new things, talking to customers, and finding out how are they using all different cryptocurrencies and what can we do to help them make that happen?

What is your number one piece of advice for the people out there who are on the fence regarding investing in Bitcoin?

I had a conversation recently with my mom, who’s in her mid-70s. She was asking me about Bitcoin. I was shocked that she was asking about Bitcoin. She’s like, “Well, how do I invest in Bitcoin?”

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