The underlying complexities of crypto, blockchain and NFTs usually evade newbies entering the field, making it difficult for them to completely grasp the phenomenon. Added to the number of one-toned content that exists in crypto and NFTs, many individuals find it boring and rather dull. Fully aware of this, influencer Jay Iverson gives us insights and simplifies crypto through his compelling TikTok content on @investment_updates.
“Crypto doesn’t necessarily need to be fully understood in order to be used. It needs to be simple to use,” says the 18-year-old crypto-enthusiast. He creates an exciting analogy, pointing out that despite not being clear on the base protocols of the internet (the IP and TCP), many people can still use it. Crypto lies in a similar sphere, and people entering the world of crypto should not have to worry about its complexities.
Crypto can be used mainstream without a majority of users understanding the blockchain. Therefore, Jay specifies creating awareness about crypto and its benefits while maintaining that the goal should be to make cryptocurrency efficient and easy to use.
For individuals entering and getting in touch with NFT and crypto, Jay further adds that such people lose money by sending crypto coins through a faulty network or with a typo on the recipient’s address. With such a problem, expecting the masses to run to an alternative financial system is not logical. These problems occur “because crypto is establishing a payment system without controlling parties like banks,” adds Jay.
The absence of such controlling parties ultimately removes the chance of getting money back in case of a fault in the transaction. To simplify this, Jay iterates that sending money to the wrong address can be easily retracted in banks, but with crypto, there is no way to earn that money back.
Keeping this in mind, Jay makes it a point to educate his followers on cryptocurrency and making intelligent decisions. When it comes to the intricacies and underlying aspects of blockchain and NFT, he provides easy-to-understand formulas. Crypto is very complex, and keeping in touch with all aspects of it as a newbie can be difficult.
With Jay’s help, you will not just be aware of crypto, but you will also be able to make wise and better decisions when buying or transferring crypto coins.