Jason Depew says when implemented properly, cryptocurrency improves almost everything about using money.
Key Takeaways:
Cryptocurrency is presented as the future of money, offering benefits like low-fee international transfers, inflation resistance, and decentralization by operating on a public, distributed ledger called a blockchain.
It functions on a "trustless" system where a network of individual computers verifies transactions through encryption, making fraud extremely difficult as a majority of the network must agree.
Users are solely responsible for securing their crypto wallet passwords, as losing them results in irreversible loss of funds with no recourse.
It is crucial to immediately transfer cryptocurrency from online exchanges to a secure personal wallet to mitigate hacking risks, as exchanges are vulnerable to breaches.
I admit: I’m a nerd. I have a degree in computer engineering, and I’ve read all eight books in The Expanse series. One recent technological development that gets me excited is cryptocurrency.
We’re going to take a break from talking about traditional investing and retirement accounts to discuss crypto because I worry it gets too much of the wrong kind of attention.
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Jason Depew flies as a captain for a major U.S. airline. He is also an Air Force reservist and has flown more than 300 combat missions over Afghanistan and other garden spots. Based in Tampa, Florida, he instructs in the Icon A5 and anything else he can get his hands on. His writing is focused on personal finance for pilots with the goal to help all types of aviators enjoy great careers, sometimes in spite of themselves. You can send Jason questions at editorial@flying.media.
