Among my publishing outlets is a blog community geared toward creative, entrepreneurial, modern women. They have gorgeous branding, the founders are on an Airstream tour of the USA doing “speaking engagements”, and I have admired them from afar for years. Granted, they are what’s ‘on trend’ right now and for many, they may seem too glossy or superficial, but read closer and you’ll enjoy the deeper topics they dive into.

Early this year, they began accepting my pitches to their blog team and I have been on a bit of a roll! This month, I took on TWO articles about subjects I not only feel versed in, but that I might feel uniquely verses in considering their community. One article is about successful crowdfunding tips, and the other is about cryptocurrency.

You can imagine my barely-contained excitement listing my capacity and plans for that prompt.

I wanted nothing more than to make cryptocurrency and it’s princles accessible to this community of women to empower THEM with the ability to learn more, get involved, and possible invest. Preferably in that order.

The feedback I received for the article below hit me a little hard, despite having thick skin from years of rejection. Here are the comments (paraphrased appropriately):

The post needs to be much more approachable and understandable for the reader.
Should be as basic as possible. A 101 guide.
“As someone who basically knows nothing about cryptocurrency, I still found it kind of overwhelming to read and try to grasp.”
Writing wise, the more human and personal you can make the language, and less "business-y".

And finally, the piece of feedback that pressed me to write this article, asking help from my fellow crypto-enthusiasts (all who are much more experienced than I),

A good way to perhaps break down the piece is to:

introduce what cryptocurrency is / what are some common forms,
then break down the pro's and con's of using it
concluding with your opinion on if you think people should use it (or perhaps, maybe explain why "it could be good for you if you ______, but not if you ______".)

With my understanding of cryptocurrency, I don’t know how I could possibly explain the “pros and cons of using it or how to prescribe lifestyle prerequisites that make an ideal candidate for cryptocurrency adoption.

Don’t get my wrong, I appreciate this feedback more than any feedback I’ve ever received! She’s the toughest editor I’ve had, beyond my 11th grade English teacher (bless her heart) and she wants me to do better. I can do better.

But, I’m calling on my community for help.

Whether you are a full-time cryptocurrency investor/miner, blockchain developer, or you had to have crypto explain 10 different ways just for you to understand how Steemit works (vaguely), I’d love to hear your feedback for how I might make this post

More accessible to the target audience: Modern, hip, women aged 25 - 40.
Shorter, and more concise without losing the important components.
In-line with the feedback received.
Possibly entirely without blockchain technology (even though this was my whole aim for this article, to make blockchain knowledge available for people to get on-board with).
Still informative enough to help readers decide whether or not they want to get involved with cryptocurrency.

Original prompt: What is cryptocurrency, and why you should/shouldn't invest in it.

I preface this post with the complete understanding and acceptance that some of you may SHRED ME for my explanation of cryptocurrency. I can request that you be kind, and to remember that I'm a newbie who is an absolute evangelist for all that cryptocurrency and blockchain technology stand for. But, I also want you to correct any glaring factual or circumstantial errors that stand out to you.

Please share all your feedback + suggestions in the comments below, and know that I'm so grateful you're taking the time to help me.

What is Cryptocurrency? And, why you shouldn’t invest in it.

By Amelia Bartlett

“Have you heard about cryptocurrency?”

“Oh, you mean like Bitcoin?”

Mainstream media is doing a terrific job confusing the general public about cryptocurrency and scaring people away from a potentially world-changing technology. I’m a young, broke early-adopter of cryptocurrency and I’m here to answer some common questions about what cryptocurrency actually is and why you shouldn’t (or should) invest in it.

What is cryptocurrency?

A digital currency or decentralized system of exchange that uses advanced cryptography for security.

Bitcoin is the most common and recognizable cryptocurrency, but at the time of this article’s writing, there are over 1600 registered and circulating cryptocurrencies. The word currency makes this concept confusing, as the only currencies most are familiar with are government-issued fiat currencies like the US Dollar, British Pound, and so forth.

Instead of a centralized bank or government managing the exchange of funds, cryptocurrency functions on a decentralized network called a blockchain.

Cryptocurrencies have multiple purposes, and the most popular purposes are:

Exchange of finances directly between individuals without a servincing entity and without incurring exorbitant fees.
Banking services in countries or territories that have little or no access to financial organizations, especially in developing countries.
As an issued funding devices for emerging companies in the blockchain technology space, that appear similar to stocks, but do not function the same way. These cryptocurrencies are often called tokens and are valued, bought, and sold on exchanges.

The third option is making the most headlines, and is where Bitcoin comes in. Individuals who ‘invest’ in Bitcoin do not own any part of ‘Bitcoin’ as an entity the way a stock is essentially a piece of a company. In the decentralized cryptocurrency economy, there is no direct entity ownership or dividends paid to currency holders. Instead, your investment is owning an actual “Bitcoin,” as if you owned a dollar or a euro, whose value fluctuates with the market and can be used as a financial device in certain avenues.

What is a blockchain?

Blockchain technology is a digital, unchanging ledger that captures, records, and verifies all transactions in its network.

Blockchain technology is the underlying revolutionary concept that makes cryptocurrency possible and enticing.

Blockchains provide solutions to a myriad of modern business and logistical struggles:

Transparency in business, including supply chain, employment, payment, and development.
Removal of power and control from a single entity, preventing massive economy devastation like the 2008 housing bubble and the impacts of inflation on government-issued fiat currencies.
Decentralization of financial services, allowing individuals more control over their finances, increased safety from predatory fees and charges, and a more secure environment for user privacy.

How are blockchains more secure than our traditional finance system?

Cryptography, or the encryption of information in an almost entirely un-hackable way, prevents your personal information from being stolen. It also prevents any governing organization from becoming too large and powerful, too vulnerable to malicious attacks, and subject to pursuing personal interests rather than representing its customers.

Each ‘block’ or entry to the ledger on the blockchain, is independently verified by multiple computers, managed by individuals. Their computers must solve complex cryptographic functions or other types of ‘proof of work’ that once complete, verify and secure forever the data they’ve verified.

These individuals are often referred to as ‘miners,’ as their work perpetuates the blockchain they’re verifying. They also grow the pool of available cryptocurrency in their market through the rewards they receive by mining.

What are cryptocurrency exchanges?

The word ‘exchange’ makes it sound exactly like the stock market, which is traded on exchanges worldwide. A cryptocurrency exchange is similar, and works like this:

You have an account on a cryptocurrency exchange.
You house your crytocurrencies in a wallet.
When you would like to purchase more or different cryptocurrencies, you place a bid or ‘order.’
Your bid exchanges one of your existing cryptocurrencies at its market price for your desired cryptocurrency at its market price (at that time).
The bid goes through and your wallet is updated with your new cryptocurrency balances.

Not all cryptocurrencies are traded on all exchanges, and not all exchanges are created equally. The top cryptocurrencies like Bitcoin and Ethereum, are the primary currencies used on exchanges to purchase other, smaller currencies. You can also utilize your fiat currency, US Dollars and any other global currency, to initially invest in cryptocurrency through an exchange.

How are cryptocurrencies valued, and why is Bitcoin so expensive?

Like stocks, cryptocurrency is a speculative market. That means that investors utilizing their funds within exchanges are speculating based on the media, technical trends in the cryptocurrency’s history, and performance of the organization that established or maintains the currency’s blockchain.

Some cryptocurrencies are worth thousands of dollars, many are worth hundreds, most are worth under a hundred, and the sea of smaller, newly established currencies called alt-coins can often be worth fractions of pennies, sometimes for the duration of their existence.

With over 1600 cryptocurrencies on the market, which can be watched at the primary resource Coin Market Cap, keeping track of the entire cryptocurrency landscape is impossible.

So… should I invest in cryptocurrency?

The short answer is no. I am a confident, proud, and competent cryptocurrency investor who has little money and no formal technical investment training, and I’m telling you that you shouldn’t invest. I say this because I only want you to invest if you know exactly what you are investing in, and if you are confident in losing your entire investment in the blink of an eye.

Why on earth would I be comfortable with this? Because I believe in blockchain technology. At the origination of the internet, nobody knew what they were looking at or what it would become. The dot com bubble was immense, and some people made a lot of money. What the spurious name "dot com bubble" doesn’t showcase is that the folks involved, the pioneers who took a chance on the internet, revolutionized technology with their risky bets.

Cryptocurrency is an extremely volatile and speculative market. It is wracked by the woes and wills of individuals who lose and gain ten million dollars in a day without a second thought. But, it is the ultimate crowdfund for the future of technology, and it has the potential to earn investors sizable returns if they engage intelligently.

If you are considering cryptocurrency investment as part of your personal financial strategy, it’s up to you to get to know who and what you are investing in.

Bitcoin is the most common and well-known cryptocurrency, and it has been known to impact the market. It is also the primary cryptocurrency used within exchanges to diversify your wallet (which is also called a portfolio) with alt-coins. Get to know the history of Bitcoin by researching its trends, what has impacted its pricing in the past, and considering surrounding yourself digitally with a few market speculators in-line with your values.

Beyond Bitcoin, there are endless opportunities for you to invest in - and profit from - revolutionary businesses and technologies funding their ventures by issuing cryptocurrencies. A few interesting finds:

Ethereum, the second largest cryptocurrency on the market whose primary focus is on revolutionizing liabilities using a Smart Contract system.
Qtum, a top-20 cryptocurrency whose organization’s primary goal is to create blockchain-based business applications such as PoS services, mobile applications, and more.
Steem, a top-50 cryptocurrency that has a massive social media platform called Steemit where users earn STEEM for their engagement and content production on the site. Steemit is also host to multiple decentralized applications like DTube (decentralized YouTube), Zappl (decentralized Twitter), and Utopian.io (decentralized blockchain application development platform).

What I hope you take away from this article is that cryptocurrency is revolutionary, and to get involved, your first step is learn.

Though Bitcoin launched nearly a decade ago, we are still in the very early stages of cryptocurrency and blockchain’s potential. Each new company, blockchain update, and currency is an opportunity to decentralized and improve the industries that power our world.

Take a look at Coin Market Cap. Read Whitepapers and team pages of the companies issueing cryptocurrencies whose missions align with your values. Learn more about utilizing exchanges safely and efficiently.

And, don’t be afraid of the future. Be a part of it.

_{All photos from Unsplash}

Thank you so much for reading all the way down to this post and for giving this a bit of thought. More than anything, I want to make cryptocurrency, blockchain technology, and the curiosity for the two more mainstream in my demographic.

I look forward to reading all of your comments!

Hi, I'm Amelia! It's nice to meet you.

I'm a writer, minimalist, tiny home dweller, and maker living in East Tennessee, USA. You might have found me through the Ladies of Steemit curation initiative, showcasing the female voices on the Steemit platform. Let's hang out on the blockchain and see where it takes us.