5 Top Personalities and Digital Currency Experts You Should Follow

What is Cryptocurrency?

Cryptocurrencies are digital currencies that are protected, making counterfeiting and double payments nearly impossible. It's a form of a digital asset based on a network distributed across many computers. The decentralized framework enables Bitcoin and other cryptocurrencies to be outside the authority of governments and central organizations and makes them immune to intervention. 

The term "cryptocurrency" comes from the cryptographic technology used to protect networks. Blockchain, an organized way to ensure transaction data integrity, is a part of many cryptocurrencies. Experts consider blockchain, Bitcoin, and related technologies as disruptive—transforming several industries, especially finance, merchandise, and law.

Cryptocurrencies have been attacked for different reasons, including their weaknesses in the underlying infrastructure, uses for illegal activities, and exchange rate volatility. However, it's also praised for its divisibility, inflation resistance, and transparency. 

Emergence of Cryptocurrency

Bitcoin made headlines in October 2021 when the price of a cryptocurrency unit exceeded $11,500 for the first time. Often recognized as a new form of digital finance, Bitcoin was launched in 2009, and the technology that it is built on goes back even further.

The adoption of cryptocurrencies is increasing around the world. With the gradual rise in the number of places to use Bitcoin, the currency continued to be popular, but its value was below its previous highs. As the use of Bitcoin increased and emerged, it became evident that more funding was moving into the Bitcoin and Cryptocoin system. 

During this period, the market capitalization of all crypto coins ranged from $11 billion to over $300 billion today. In addition, banks such as Barclays, Citibank, Deutsche Bank, and BNP Paribas have announced that they are considering ways to work with Bitcoin. Meanwhile, blockchain, the technology behind Bitcoin, has revolutionized the digital fintech industry and beyond.

Relevance of Cryptocurrency

Many industries use Bitcoin payments for financial transactions. In retail, up to 40% of customers are now paying businesses in cryptocurrencies. The number of crypto payment transactions on ecommerce sites is increasing by 12.5% ​​each year.

Similarly, the average ROI of merchants accepting cryptocurrency payments was 327%. For luxury brands, cryptocurrencies protect them from the risk of counterfeiting and gray markets. These brands accept crypto to create an exclusive experience with limited edition items that can only be purchased in cryptocurrencies.

The same trend applies to digital transfers, with cross-border transfers reaching approximately US$ 95.96 billion in 2020 and 15.8% of senders already sending money using cryptocurrencies. Moreover, the cryptographic transfer is 388 times faster and 127 times cheaper than traditional transfer methods. 

Gaming is another industry that uses crypto payments, with over 41.9 million players in its cryptocurrency in 2020.

Is cryptocurrency the future of money or a scam?

Whatever your thoughts are on Bitcoin and cryptocurrencies, whether you describe them as the future of money or complete scams, they seem to be part of the finance industry for good.

Upon diving into it, we get questions: Will many early adopters and evangelists succeed in doing what they intend? Will they be able to replace state-controlled centralized money with a decentralized alternative that is controlled solely by the power of the market?

Follow these Cryptocurrency Experts and Influencers 

Indeed, the topic of Bitcoins is new, interesting, and at the same time, disruptive. To learn more about cryptocurrency and Bitcoin trends, it is essential to follow experts in the industry. Continue reading to find out who to follow.

Nick Szabo

Photo from University of Arkansas

Satoshi Nakamoto is the pseudonym used by the developer of Bitcoin. Similarly, Nick Szabo, believed to be the real Satoshi Nakamoto, is a pioneer in cryptocurrencies. His blog is rarely updated (and needs to be read intensively), but his tweets are more frequent and easier to follow.

Szabo argues that physical wealth is not always safe. For instance, blockchain consists of thousands of computers that can digitally process tickets, money, and other trusted objects instead of cinema cashiers and ticket trippers. If you're looking to learn more about Bitcoin's nature, Nick can show you how intellectual properties can be created by embedding intelligent contracts in physical objects.

Susanne Chishti

Photo from LinkedIn

Susanne Chishti is the CEO of the FinTech Circle, an institution that trains people who want to become fintech professionals. So, if you want to know more about how cryptocurrencies affect other financial markets and are considering building a career in digital money, she is the best resource person to learn from.

Jeremy Schneider

Photo by Malcolm McMillan

Schneider has been using and investing in Bitcoin since its launch. In contrast to other Bitcoin purists, Schneider warns that investments do not allow you to force your decision from "fear of missing out" (FOMO). Instead, Jeremy constantly reminds his followers of two simple rules in building one's financial identity. These rules are summarized by living under your means and investing often.

Schneider claims that his current net worth is about $4.1 million. Among this, he has approximately $2,000 in cryptocurrencies—or less than -1%. For those interested in building their investment portfolio, Schneider advises you to make equally small investments compared to your net worth.

Andreas M. Antonopoulos

Photo by Andreas Antonopoulos

Andreas M. Antonopoulos is the author of Mastering Bitcoin, along with other cryptocurrency books. You can start and get a better bet of what Bitcoin is by subscribing to his YouTube channel. So, sit down, relax and enjoy one of the simplest and most straightforward explanations to help you learn Bitcoin.

Marc Russell, Betterwallet 

Photo by Marc Russell

Marc Russell is the creator of @BetterWallet on Instagram. His investment philosophy is to stick to the basics, but do not be afraid to diversify your portfolio.

Russell recognizes that cryptography can help you in your long-term strategy. He advises those educated in the market and know what is at stake to invest in Bitcoin. Cryptocurrencies are a significant diversification factor as they have little to do with the stock market. And if you're looking for something that adds diversity, cryptocurrencies are what you're looking for.

Secure your Future

Bitcoin is an emerging currency offering several benefits, including low transaction fees, faster processing, and encrypted, secretive handling of financial transactions. For these reasons, many industries are making payments in Bitcoin.

However, in all its complexity, it is crucial to first understand the mode of payment before investing and using the currency. Learning from experts and digital financing influencers such as Nick Szabo, Susanne Chishti, Jeremy Schneider, Andreas M. Antonopoulos, and Marc Russel can be a great starting point.