Should you invest in crypto currency? What to know about digital currencies and investing safely?
Crypto money may have appeared to be a niche interest or a transitory craze in the past, but it is swiftly becoming mainstream. In a series of Super Bowl ads, Matt Damon, LeBron James, and Larry David promoted crypto currency platforms, which were so popular that one crypto currency app crashed after the game. Furthermore, the Los Angeles Staples Center was recently renamed the Crypto.com Arena after Crypto.com reportedly paid more than $700 million for the naming rights. There's a lot of buzz these days about crypto currencies, but what is it actually, and is it right for the average consumer or investor? Vicky Nguyen, NBC's senior consumer investigative journalist, explains what crypto currency is, how to tell whether it's trustworthy, and what red signs to look out for before investing. What is crypto currency? Crypto currency is a type of virtual currency that is recorded on a block chain, which is a type of digital ledger. Some crypto currencies can be used to make p...