Ray Simmons is an investor who focuses his attention on stocks and, more recently, cryptocurrency.
Simmons joins Black Man Sundays to talk about the ins and outs of putting your money into the emerging cryptocurrency market.
“As a beginner, what you really want to focus on is the technology behind crypto,” Simmons said. “I usually tell people that are just starting out, ‘You really want to start with what blockchain even is.’”
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Blockchain is a complicated, electronic ledger that tracks transactions and ownership of assets, mostly digital ones such as cryptocurrency or non-fungible tokens; however, Simmons believes the technology will soon be applied to physical assets like real estate.
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Simmons believes the complexity of the blockchain and the potential volatility of cryptocurrency prevents many people from investing in it.
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