Queenie Tan is a finance expert and social media influencer stationed in Sydney, Australia. In a recent video she posted online, Queenie talks about how to purchase cryptocurrency and some of the things people should do to protect themselves when investing.
Queenie Tan Discusses Crypto in New Video
In a detailed video message to all her followers, Queenie unveiled a beginner’s guide to discussing how one gets involved in buying cryptocurrency. She also talks about the specific steps involved with buying cryptocurrency in Australia and what individual traders should consider before jumping in.
Everyone is talking about crypto as of late, and it’s a bit overwhelming.
At 25 years of age, Queenie is part of a generation that appears to be relatively intrigued by crypto. Many of them have stated in the past that they would rather invest in crypto than standard trading products such as stocks and bonds, and they are eager to build their wealth through digital means.
In the video, Queenie talks about how while it’s not common, digital assets like BTC and ETH can be used to pay for goods and services. However, while this was the primary goal for many forms of crypto, most of them are purely speculative tools. They are bought and sold for a profit, and thus traders can increase their net worth.
She also talked about the origin of the word “crypto,” which comes from cryptography. This is the art of solving complex puzzles, and in her explanation of the space, she says:
Cryptocurrency is a digital currency which is run by a large network of computers that are constantly solving codes to verify and facilitate transactions on the blockchain.
She mentions that prior to jumping into crypto, it’s very important to do research and understand not just what it is, but what risks are associated with the growing world of digital finance. She says that crypto is typically decentralized, meaning there is no central hub or authority figure in charge of the industry. Rather, the financial power of crypto is given to those who use it. It is not controlled by any government, which means it’s not regulated.
When discussing which cryptocurrency exchange to use for purchasing digital currency, Queenie suggests Swytx (located in Australia) given that purchases invoke relatively low fees (around 0.6 percent). In addition, there are no deposit or withdrawal fees, meaning you only pay when purchasing crypto through the platform. She says:
Swyftx will tell you the fees, and then you’ll simple click ‘confirm buy.’
Volatility Is an Issue
She has also warned viewers that crypto can be a very volatile asset, and thus exercising caution is necessary when making a purchase. She says:
The first risk is the volatility in the prices. Even the biggest cryptocurrencies like bitcoin have really big price moments.