What is a crypto currency? Why should anyone consider buying one? Which ones should investors be looking at? A crypto currency is a digital currency that people above the age of 18 can buy.  You can buy half and quarter stocks for cryptos like Bitcoin, which is the most well-known. Cryptos with stock prices worth over thousands of dollars can be risky, but also have potential for a great payoff.

A crypto currency is a completely digital form of money that is not federally regulated and can be traded through private internets and stocks. They are kept track of through public records using a block chain system. The block chain is a series of records that are designed to check each other. Crypto currencies do not exist outside of the internet.

In 2010, Bitcoin was worth less than a cent. According to Investopedia, Bitcoin was worth $.0008.  Fast forward to 2020, and the price wavers between 30 and 40 thousand dollars for one share. Why should anyone invest in Bitcoin now?  Bitcoin is a high risk currency to buy right now. Investors could easily lose $10,000 dollars in a day.

“I wouldn’t buy it right now but the people that invested into it 10 years ago are set for life,” said Walkersville junior Hunter Ferguson.

One up and coming crypto currency is LTC or Litecoin. Litecoin’s prices waver between $100 and $150 a share. Litecoin’s price has gone up 800% in the last few months. 

“I could see myself getting into this currency next year when I turn 18. It seems to have a lot of promise and future,” said junior Matthew Zingeser.

Lastly, there is a new penny stock that investors can put money into. Although the name might make one believe it’s a joke, Dogecoin has a promising future. It is backed by the former owner of Bitcoin, Satoshi Nakamoto,  and has risen over 100% in the last month. It’s currently wavering between $.0075 and $.0125 a share. On some days an investor can buy thousands of shares for less than $20!

“If you look at how Bitcoin started, then investing in Dogecoin might be a good idea,” said junior Ryan Gallagher.

Crypto currencies are a new addition to the market that young adults and older can get involved in. Investing at the right time choosing the right cryptos is key to making money. Be sure to watch your stocks, and don’t expect to make profit in one night.