El Pasoans will learn everything about cryptocurrency at conference
The currency of the future is now. Cryptocurrency is a virtual currency that can be used throughout multiple platforms.
“There are ways that you can simply do it just from your phone; you can invest directly from your bank and you can convert your USD into cryptocurrency. You can let it sit, you can use it as a way of transacting, you can trade it and it’s actually a pretty painless process,” said Paul Ward.
Ward is a presenter at the El Paso Cryptocurrency Conference, which will be held Saturday.
He said the main goal of the conference is to educate the Borderland on this new form of currency.
“Right now I think you have in Los Angeles, you have New York -- those are cities right now that are starting to become educated about cryptocurrency and to bring El Paso on board and have them on that same level playing field is awesome,” said Ward.
There are some skeptics of this new form of money, like El Pasoan and realtor Rick Snow.
“Well I think that we would still have paper money and credit cards, the electronic thing is kind of scary what’s it backed by,” Snow said.
Ward said like anything electronic there is a possibility for hackers to access information but that it is happening now even outside of cryptocurrency.
Overall Ward said investing in cryptocurrency is a smart decision and can ultimately make you more money.
He does say that it can be a little confusing for some who start learning about cryptocurrency.
“There are more and more applications on your phone that are coming out making it a little bit simpler but right now it is a bit complex, which is one of the reasons that we try to teach it because it can be intimidating,” said Ward.
Although some may say it's a fad Ward said it’s the beginning of the new normal.
“It’s like being around when the internet was brand new and when people would ask you about the internet and you had no idea what it was -- it’s the same thing with cryptocurrency, a lot of people don’t know what it is but in three, four, 10 years from now we are going to ask how we ever lived without it.”