READING, Pa. — A creative QR code ad for Crypto Currency exchange company Coinbase got scanned by so many during the big game – that it briefly crashed the app.
“The user interfaces are still probably not there yet. These are some of the initial steps it will be two steps forward three steps back,” said Sean McCullough of Atlas Wealth Partners.
Despite some who may be dealing with the fear of missing out when it comes to crypto, a financial adviser with Atlas Wealth Partners in Wyomissing says it’s still early.
“The average person sent their first email somewhere in the mid 90’s and email was invented in 1971 so I’d say we’re still very early on in this adoption,” McCullough said
You may still be wondering exactly what cryptocurrency is.
“I think in its basic form it’s a ledger and if you think about your bank account most of your dollars in a bank account are simply a ledger at the bank and this is just a ledger that is kept electronically,”McCullough said.
Officials with Atlas Wealth Partners say it’s still too volatile to consider it as a new way to get paid, but that may change.
“Bitcoin itself is about 800 billion dollars the total crytpo market is about 2 trillion dollars as it gets closer to gold at 10 trillion dollars and some of the other market caps, I think the volatility will decrease,”McCullough said.
As always, this is not direct financial advice and you should consult your own financial adviser.
“If you were looking to invest dollar cost averaging into this asset is a great way to do it. It allows you to not pick a top or bottom. It allows you to like you would your 401k plan just allocate over time,” he said.