Can someone please walk me through this? I have downloaded the coinbase app and have a wallet app, and now I'm ready to buy. But, I just need assurance. Is there any possibility of losing this money once I move it? Who uses it? How? Is it secure? Just need to know that smart people other than Dave from x22 are buying this and that its a strong move.
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All I'm going to say is that I invest in zcash. It's was created as a private option to bitcoin. It's basically bitcoin 2.0, but it's much earlier (4 years) into the mining cycle. Grayscale which is the world's largest bitcoin asset manager put out a thesis project its price to potentially be $60k by 2025. I would research zcash if I were you. I also use coinbase and know others who hold hundreds of thousands in it. Don't know offhand their security protocols though.
Also, my investment in zcash has tripled since December. The first halving in the mining process happened in November and since then it's bottom resistance has risen every month.
The problem is you're valuing your investment in USD.
Check out your zcash against bitcoin.
https://www.tradingview.com/x/8tWOhSHf/
ouch
See that is kind of a dumb way to approach this situation if your goal is to potentially retire in 5 years. OK, so zcash is $150 per, bitcoin is $60,000 per. So for $15,000 you can get either 100 zcash or 1/4 of a bitcoin. Now zcash has been evaluated by a major crypto firm to potentially be $60k in 4 years, bitcoin is projected to potentially hit $1 million at some point. So lets say zcash doesn't even come close to the $60k projection, lets say it only hits half that at $30k. $30k X 100 is $3 million. But if bitcoin actually hits $1 million and you hold 1/4 of one then you have made $250k.
There is a huge potential with zcash at this price, and I don't care what you think about it, because I have over a hundred and my portfolio balance has skyrocketed this year. Nobody knows whats going to happen , I might lose everything, bitcoin might plummet out of nowhere, DOGE could soar to a $1million. All I'm saying is I am informed about my investment and I believe in it, and I support you investing in whatever you believe in.