Crypto Week: Understanding Crypto 101

HOSTS Alec Renehan & Bryce Leske|30 March, 2021

Meet your hosts

  • Alec Renehan

    Alec developed an interest in investing after realising he was spending all that he was earning. Investing became his form of 'forced saving'. While his first investment, Slater and Gordon (SGH), was a resounding failure, he learnt a lot from that experience. He hopes to share those lessons amongst others through the podcast and help people realise that if he can make money investing, anyone can.
  • Bryce Leske

    Bryce has had an interest in the stock market since his parents encouraged him to save 50c a fortnight from the age of 5. Once he had saved $500 he bought his first stock - BKI - a Listed Investment Company (LIC), and since then hasn't stopped. He hopes that Equity Mates can help make investing understandable and accessible. He loves the Essendon Football Club, and lives in Sydney.

It’s crypto week here at Equity Mates! So we’re swapping equities for blockchain, and breaking down all your questions about the crypto climate. There’s a lot to understand and get your head around – so we’re just unpacking the basics in this episode – the goal is you’ll be able to have a conversation in the pub, break it down with your partner, or hold your own at the 2021 Family Christmas party.

There’s a lot of noise out there, but we’ve partnered with two companies that we believe in when it comes to the crypto space.

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If you want to let Alec or Bryce know what you think of an episode, contact them here

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Bryce: [00:02:22] Welcome to get started investing in this podcast, we cover all the basics you need to start your investing journey. We unpack all the jargon and confusing bits here, your investing stories with the goal of making investing less intimidating. And we want to have a good time along the way. My name is Bryce and as always, I'm joined by my equity buddy Ren. How are you going? [00:02:41][18.9]

Alec: [00:02:41] I'm good Bryce. Very excited for this episode, as per usual, but also a little bit nervous because this episode really has the potential of being derailed by you going too deep on rabbit holes. And, you know, would you know, this is Get Started Investing feed you love crypto spiral spoiler. Spoiler alert. There we go. Third time's the charm. We're talking about crypto. And I feel like you're going to start talking to us about the bloody litany of acronyms that are out there at the moment. [00:03:13][32.2]

Bryce: [00:03:14] Well you've got me all wrong. Ren. This is Get Started Investing feed. And we're all about keeping things very basic here. So whilst there is a lot to discuss when it comes to cryptocurrency, we're going to do our best to keep this at a very high level. It is crypto week here at Equity Mates. We have started off on yesterday on the Equity Mates investing podcast with a bit of a crypto 101. And we're going to continue that same here. [00:03:41][27.4]

Alec: [00:03:42] Well, it wasn't quite a crypto one on one. It was a this will be the crypto one or one, but it was the only piece of crypto content on the Internet. Do your own research, but the only piece of crypto content on the Internet that didn't mention the price [00:03:57][15.6]

Bryce: [00:03:58] of any as well as this episode. There's no price in the true [00:04:01][2.6]

Alec: [00:04:02] church, although we're really building a reputation for ourselves [00:04:05][3.4]

Bryce: [00:04:06] here. So head over there. We've also got a couple of interviews coming up with some crypto experts on EQ, on the Equity Mates podcast. So if you are interested in this space, head across for the rest of the week. And look, we recognise that this is an equities podcast, Equity Mates, but there's a lot going on in the crypto space at the moment. And we've had a number of our community reach out to ask if we can unpack it a little bit. Yeah. [00:04:31][25.3]

Alec: [00:04:31] So that is that was the the number one content request in the survey. Shout out to the survey. If you're listening to this the day it comes out on the 30th, you've got one more day to complete it. So make sure you and fill out five hundred listener survey. We obviously are listening to your feedback because people requested more crypto content and we're now doing a whole week on it. So, yeah, go fill it out. [00:04:55][24.1]

Bryce: [00:04:56] So by the end of this episode, our aim is to really just give you the ability to have a conversation about crypto at the pub or with your family or partner or whatever it may be. You've probably been in a situation many times where someone's brought up the price of crypto. You invested in Bitcoin. What do you think? So we're really just going to step through it as best we can to give you some confidence to be able to engage in those conversations. [00:05:26][29.8]

Alec: [00:05:26] Yeah, yeah, yeah. And again, not not about the price, but about like, you know, what WTF is BTC, I guess is the question, like, what is Bitcoin? What is Bitcoin, what is crypto. So we get into it. [00:05:40][13.4]

Bryce: [00:05:40] Yeah, let's get into it. So it all starts with um, we will start at the bottom, [00:05:45][5.0]

Alec: [00:05:47] start from the bottom now start from [00:05:48][1.7]

Bryce: [00:05:48] the bottom and work our way up. So it all starts with block change. [00:05:51][2.8]

Alec: [00:05:52] Yeah. So I think and let's define our terms as we go and we're going to have to be responsible for pulling ourselves out of the way. It's pulling each other [00:06:00][8.6]

Bryce: [00:06:00] out of the way. Monster start [00:06:02][1.3]

Alec: [00:06:03] your first business was Lasky's lawn's where you went around the my I suppose then I do believe you called yourself the way monster that and then at uni actually. [00:06:13][9.7]

Bryce: [00:06:17] But yeah. [00:06:18][1.0]

Alec: [00:06:19] Let's let's start with block. [00:06:20][1.3]

Bryce: [00:06:22] Okay. So let's continue. Yes. Block chain. But I will be keeping ourselves out of the way. [00:06:26][4.3]

Alec: [00:06:27] Yeah. So you will probably often here block chain and then cryptocurrency to start with. Let's separate those, those two concepts and let's start with the block chain and to explain what it is, I think it's easiest to explain what it isn't. So if you think about like the way traditional records are kept these days, it's it's by question [00:06:51][24.1]

Bryce: [00:06:52] what sort of records? [00:06:52][0.5]

Alec: [00:06:53] Just any any information online? Well, it's it's kept by a central authority. So, you know, banks keep your financial information. Governments keep your tax and medical and personal information. You know, if you're at a university, the your the record of your university performance is kept central. By the university, traditionally in hard copies in a file room somewhere now in on a server somewhere, but the server will be owned by that central authority, like a government, a bank custodian, whoever it is. And that's that's the way recordkeeping has always happened. And then when things are updated, they're updated by the central authority. So you tell the bank that they want to change one dress. Yeah. Yeah. You want to. Yeah, exactly. You want change your address. You tell the government that you had a kid and you need them added to your Medicare card. You put the forms into the central authority, the central authority updates their records and then this. The central authorities records other source of truth. [00:08:01][68.3]

Bryce: [00:08:03] Nice. So that's so that's that's what the traditional way of record keeping is, one central authority. So then how does that relate to the block? [00:08:13][10.2]

Alec: [00:08:14] So the easiest way to think about block chain is decentralised recordkeeping. So rather than a central authority being the single source of truth and being the authority on, you know, what is true and what is not true, who has what, all that stuff, every user in the system keeps a copy of the record. And when things are updated, the that information is sent to every user and every copy of the record is updated for everyone. [00:08:47][33.1]

Bryce: [00:08:48] So an example, an unrealistic one, but an example nonetheless. Let's take the university. You let the university know that you're changing subjects or you're going to drop out of a subject. And rather than the student authority who or the admin who looks after that change, they're going to then everyone in the university or in your class is going to get a copy of the record that you have changed your university class. [00:09:15][27.4]

Alec: [00:09:16] Yeah, yeah, yeah. And there's like the obvious question that comes out of that example is privacy. Put privacy to one side because there's ways that you can ensure privacy and there's plenty of block chains that are fully encrypted, fully private. But I think to give you the best example, using a university, you know, in those university like coming of age movies, how they often sneak into the dean's office and like change their grade, like they like hack into the computer at the time and then they get the job and like, you know, they get the girl that's in the movie that that is the central problem with a that's the major problem with a central authority. Keeping one set of records is that you can go in and change it. You rely on that central authority. If everyone had a copy of the great fully encrypted in private, and then every semester or however every time new grades were put on the system, they were put on the block chain. You couldn't go in and change them because if you tried to change them in one set of records, tells everybody that all the other sets of records [00:10:26][70.4]

Bryce: [00:10:27] really like electronic hands breaking into the [00:10:29][2.0]

Alec: [00:10:30] well. Well, it would be like this is inconsistent with all the other copies of the record. And so it wouldn't be accepted onto the block chain. Yeah. And so the idea with the block chain is it enables you to trust less interactions between people because you don't have to rely on trusting someone because there's like a an authority that that can't be disrupted, can't be changed. [00:10:52][22.0]

Bryce: [00:10:53] Okay. So to recap on all of that, a block chain is is the, I guess, a decentralised way of recording transactions or any sort of information on the Internet? Yeah. [00:11:10][17.3]

Alec: [00:11:11] Now, let me let me maybe give another example, a more realistic example than Bryce sneaking into university to change his grades. Have you ever had to do a land tidal surge? [00:11:21][10.4]

Bryce: [00:11:23] I haven't no, I know what they are. [00:11:25][1.7]

Alec: [00:11:25] Yeah, so, you know, state governments in Australia, different governments around the world, you know, they keep records of who owns what land and who has title to what land and all that stuff, easements, all that. But it's really hard to get that information. You have to go to a government agency. You have to know where to look. You have to hope that they have the necessary and complete records. You have to hope that they can find them. And then you have to be able to get the records from the government. And it's it's a really arduous process and it's quite difficult. There's a lot of time spent doing it. And then, you know, not so much in Australia, but in third world countries. This process is quite right for corruption. Yeah. You know, the government authorities can change land title and stuff like that. And we're seeing early adoption of block chain technology to solve these problems. So a couple of examples. Georgia in 2016, Ghana in 2016, Honduras in 2015 to buy in 2017, Sweden in 2016. They're all at different stages of moving their land title, I guess, information and their records onto the block chain. And so then there will be like one authoritative set of records. Every time it gets updated, it gets updated across all of these, all of the users on the block chain. And in theory, it will make it easier to verify who's who owns what, easier to execute contracts. It will mitigate the risk of incorrect registries. And according to Sweden, it will increase trust between doctors. So that's the theory. And I know some of it might still be going over people's heads. But just think of it like rather than a central set of records, a distributed set of records. [00:13:07][102.0]

Bryce: [00:13:07] Yeah. All right. So that's block chain. And it is it forms the basis for which all of these crypto currencies and so everything else you hear about in this space is built upon. Yeah. [00:13:21][13.8]

Alec: [00:13:21] So so let me Hollonds, I'm sorry to interrupt you, but the flow from there is so you've got these distributed set of records, but how do you incentivise people to to update it? You know, to update these records takes electricity and it needs to be some process for that information to be sent to all the different users that are holding a set of these records because otherwise the system doesn't work. Yeah, and so crypto currencies have been built on the block chain as a way to reward these people who are updating the block chain. [00:13:55][33.9]

Bryce: [00:13:56] Yeah, so, OK, so we've got the block chain and then crypto currencies are a way in which people are rewarded for maintaining and updating the records across the block chain. So Bitcoin is just a reward mechanism. [00:14:10][14.7]

Alec: [00:14:11] Yeah, yeah. So now this pull me out of the way if I'm going to upgrade master you you often hear of bitcoin miners. Yes, I no, they're not partnering with Rio Tinto to find Bitcoin in the in the layers of the Earth's crust. They're basically running server farms full of supercomputers that are trying to solve really complex algorithms. If they solve it first, they get rewarded with Bitcoin. And as part of that whole process and this is where the technicals get beyond me. But as part of that whole process, every time like an equation is solved, block Chinese updated. Yeah, I'm looking at you for confirmation because. Yeah, that is correct. Yeah. Yeah. And so, like, the miners are incentivised to solve these equations because they want to win the cryptocurrency, they want to win the bitcoin and in incentivising them to put their computing power towards solving these equations and trying to win this bitcoin, that's the computing power that's used to update the block chain. Again, I'm looking at you for confirmation. [00:15:13][61.9]

Bryce: [00:15:14] Yeah, a little bit of weeds, but generally. Yeah. So at a higher level, though, you know, crypto currencies are used for more than just rewarding miners. [00:15:24][10.4]

Alec: [00:15:25] No, but that's how they like that's the origin story. That is the origin story. It's like Batman getting bitten by a bat. [00:15:31][6.6]

Bryce: [00:15:32] Yes, true. All right. So we've got [00:15:34][1.9]

Alec: [00:15:35] but no, I don't think that's actually [00:15:36][1.1]

Bryce: [00:15:39] so we've got we've got block chain that takes away centralised recordkeeping then to update this block chain and to to keep it all sort of running smoothly. We use cryptocurrency so as a way to reward people to do so. Nice. [00:15:57][18.1]

Alec: [00:15:58] Now, you were about to say there are other uses for cryptocurrency I was about. And so it's like from that original concept, they've now developed uses of their own and most of which was sort of foreseen at the time. So I do want to get into that. [00:16:13][15.8]

Bryce: [00:16:14] So, yeah, I guess the main form of cryptocurrency, when you think about it, it's in its name, Ren, and that is currency. Another form or medium of exchange? [00:16:24][9.7]

Alec: [00:16:25] Well, that that is just begging me to go on the Web. [00:16:28][3.1]

Bryce: [00:16:29] Let's not go into the weeds, but it's it's money that is recorded on the block chain. And what was the one of the big trends that we're starting to see at the moment is, is this decentralised finance? And rather than, you know, the bank being the one that records the transaction between you and I, if we were to use cryptocurrency as a medium of exchange, then that is extended across the block chain to everyone in that network. [00:17:02][33.0]

Alec: [00:17:03] Yeah, a decentralised finance is like lending and stuff without an intermediary. Yes. So let's not let's not go down that basically block China's distributed records. Cryptocurrency rewards those who are updating those records. Cryptocurrency is then used as an alternative currency. Currency traditionally has two key functions in a society. One, it's a medium of exchange. So you use it to buy goods and services. The other is a store of value. So you can hang onto it and it can hold its value and you can use it in the future. There are different cryptocurrency that are trying to do a and pieces of both. Yeah, be some of those things as well as a whole bunch of other stuff that we touched on in yesterday's episode on Equity Mates. So you can jump over there after this if you want to go down that rabbit hole with us. And yet the idea is there's a lot of issues with, you know, the court fiat currency, but like government created currency around how much is produced and and where it goes. And Bitcoin especially was created in 2009 after the GFC. You know, Bitcoin's proponents will tell you it's a better form of currency and a better store of value than especially the US dollar [00:18:22][79.4]

Bryce: [00:18:23] to take stock before we move into, I guess, the questions around it. Is this actually useful? What are some of the the positives and negatives of all of this? Is there anything else that we want to cover off on the actual fundamentals of from block chain to cryptocurrency? [00:18:39][15.4]

Alec: [00:18:40] Yeah, the one other thing that I think if you're having a chat in the pub, you definitely just going to want to have some information on is all right. That conceptually makes sense. But why are there two thousand plus of them. [00:18:53][13.2]

Bryce: [00:18:53] Six thousand seven hundred. [00:18:54][0.9]

Alec: [00:18:54] Is that how many there are. [00:18:55][0.7]

Bryce: [00:18:56] So I guess the question then is why six thousand seven hundred shite coins. [00:19:02][6.1]

Alec: [00:19:04] Look, they're not all shit, but some of them definitely are. Yeah. Yeah. I think without going too deep on this, conceptualise it like underlying technology and then things built on top of it. So the best analogy is the Internet. The Internet underlying technology is the equivalent of block chain here. You know, that's the sort of the breakthrough that has allowed things to be built on top of it. All of these crypto currencies are being built on top of this block chain technology in the same way that all of these Internet companies and all of these new Internet services were being built on top of the same technology, which was the Internet. And so, you know, there are some crypto currencies that are trying to become, you know, like decentralised cloud storage. There's some that are trying to become decentralised, like supercomputers and like pull computing power and all this stuff. There's some like Ethereum which are trying to do smart contracts. There's some which are just literally trying to replace currency like Bitcoin and but that they all are using the same underlying technology, which is block chain and then all trying to do slightly different things. And amongst them, there's some stuff that is just trying to make money on the hype. But then there are others where there is actually genuine people working hard to prove a genuine use case. Yeah. So that's why there's so many. [00:20:30][86.5]

Bryce: [00:20:30] Yeah. And if you would like to go a little bit further on that, we do have an interview coming out this week with Alex Saunders from Nugget's News, who's a bit of a whiz with all this sort of stuff, and we'll dig into that.[00:20:42][11.3]

Bryce: [00:22:44] So Ren, I guess the question is, what is all of this mean, is it useful? Do I need to know about it? And then we can have a quick chat about how to invest, I guess, in inverted commas or by crypto. [00:22:57][12.8]

Alec: [00:22:58] I mean, we said just before the outbreak that there's a whole bunch of people trying to find this case and trying to make it useful. And I'm sure some will be successful, but really the short answer is right now, there's not a lot of mainstream use cases. Yeah, there's some in the finance space that are starting to emerge, decentralise finance being one of them that you mentioned earlier. But I mean, the long and the short of it is there's a lot of promise that is yet to be delivered. [00:23:27][28.8]

Bryce: [00:23:28] Yes. And we spoke [00:23:28][0.7]

Alec: [00:23:29] with and I am going to get so much hate from the crypto community even for just saying that. But, hey, prove it. Like, get me a clear use case where your 10x better and there's mainstream adoption in a certain industrial sector. [00:23:42][13.4]

Bryce: [00:23:43] Yeah, well, I mean, I guess the you know, when we speak about this with some of the experts in the crypto community, they always sit with in 10 or 20 years. So there's no there's certainly no hiding the fact that this is very, very early in the adoption phase of where this technology could be leading. But at the same time, if it does play out in the way that people are expecting it to, then then it is going to be rather transformational. Yeah, it's just about waiting those six thousand seven hundred down to the few that are going to be around in 20 years. [00:24:16][32.9]

Alec: [00:24:16] Yeah, yeah. And like people will say, oh, this is ten times better than what is done currently. But there's plenty of examples in history where the best technology didn't win. And so I guess what I'm watching for in terms of this crypto story is where is that actually mainstream adoption? Like where where does it move from these early adopters and true believers and into the mainstream of an industry? And where does it disrupt a certain way of doing things? Because for me, that will be a real inflexion point where we stop talking just about the price of those coins and we actually start talking about the use case of them. [00:24:55][38.7]

Bryce: [00:24:55] Yeah, yeah. So we said we'd give you a few pointers for a pub conversation or if you're at a dinner party. So let's discuss some of the positives or the benefits of both block chain and cryptocurrency and then we can give some negatives if you want to take the the other side of the argument. And then, as I said, we'll have a quick discussion around the investing pot. So so some of the positives or the benefits, I mean, if you if you're talking to some of the fanatics, then there's no [00:25:22][27.3]

Alec: [00:25:24] question I am talking to one of the [00:25:25][1.5]

Bryce: [00:25:26] there's there's no question that some believe that Bitcoin or potentially one of the other sort of stronger coins will be the currency of the future will be, I guess, buying goods and services with Bitcoin. [00:25:37][11.6]

Alec: [00:25:38] And can we can we not talk about positives in terms of what some believe? I think the the positives are the technology. And you always hear this like I believe in the underlying technology block chain, but not so much I'm unsure about. That's the mainstream economists answer to the question. And the biggest positive is the block chain. Technology is actually pretty revolutionary in terms of what it's what it has been able to do. So that's a big positive. Second positive, I think, is that there are there are characteristics of cryptocurrency that make it better than some other currencies or. Or stores of like better than gold and stuff like that, some of its characteristics are like that, but I think that's a softer way of saying some people believe will be the currency of the future. I think that's a bit, you know. [00:26:29][50.8]

Bryce: [00:26:29] Yeah, but I mean, if you want to take that side of the argument, then go for it. You're more than welcome to now. I think you're right, though. You know, if you think about why people like Block China, it's what we've discussed. It removes the centralisation of power. It's a lot easier to to trust what is going on in the system, those sorts of things that the real benefit of of what is going on here. And I guess from a risk or a negative point of view, Ren, you know, if you're just looking at it from an investing standpoint and we've mentioned, you know, Bitcoin does have some characteristics that are that are better than perhaps, you know, gold or whatever it may be, but incredibly [00:27:12][42.5]

Alec: [00:27:12] volatile, incredibly, incredibly volatile. 40 percent drops are not unheard of. Yeah, yeah. [00:27:17][4.6]

Bryce: [00:27:17] And if if you are ever going to listen to a friend about what to invest in, make sure it's not in the crypto space, because this is a market that goes up and down faster than you can blink. So just be wary of that when you're putting money in. [00:27:36][18.4]

Alec: [00:27:36] Yeah. So yeah, I think the risk is well known. It's extremely volatile. There is a chance that this could go to zero or there's a chance that twenty seventeen could happen again and a massive crash happens. Although I think the as some of these use cases start to build the chance of it all, going to zero becomes less and less likely. But, you know, this is a small percentage of your portfolio, if anything. You know, investment, but it is a possible investment class, people made a lot of money on it. If you're at the pub, people will definitely be talking about how much money they've made on it. So the final question, perhaps the most important question for an investing podcast is how do you actually invest in it? [00:28:20][44.1]

Bryce: [00:28:20] There's a couple of ways that you can think about investing in the crypto space and the blockin space. And I think to me, the first is to not go down the rabbit hole of the six thousand seven hundred crypto coins and take a step back and look at the broader picture, which is to invest in businesses that are potentially going to be using the block chain technology as part of their own business model, taking advantages of that or equally investing in businesses that are benefiting from the rise in cryptocurrency. So some examples of of the latter that investing in businesses that are, I guess, exposed to the Bitcoin trend. Ren you mentioned miners who are, I guess, people who are using huge amounts of computing power to try and solve these block chain algorithms. They obviously need computer parts. And so it's companies like Nvidia and and the like that provide these sorts of computer parts. [00:29:18][57.5]

Alec: [00:29:18] And I am deice and say you supply them. [00:29:21][2.4]

Bryce: [00:29:21] Yeah. So these traditional, you know, large computer manufacturers, computer part manufacturers are all benefiting from the requirements of these people who are mining for these crypto currencies. [00:29:35][13.6]

Alec: [00:29:35] Yeah, yeah. I think, look, given this is Get Started Investing feed, I don't want to go too far down the rabbit hole. There are a bunch of companies that that are exposed to the crypto trend in different ways, to your point, some that are exposed because they supply, you know, the bitcoin. Industry, some, because they own Bitcoin themselves, like Tesla and MicroStrategy, are two companies that actually own Bitcoin, and then there are others that will benefit from the disruption of industries that cryptocurrency may cause. So a company like Square, maybe even a company like PayPal, like the more that traditional banks and traditional financial institutions get disrupted by cryptocurrency, the businesses that are able to best integrate with that trend or best adapt to that trend and don't have like a real legacy business that gets her will be able to benefit. So if you're looking at individual companies, they might be three frameworks to look at it. And there's not really any ETFs. There's one in Canada that's listed. There's apparently one coming in the states, although, you know, regulatory approval and all of that. I imagine Australia will be relatively small compared to some of the other jurisdictions. But at some point there will probably be some form of crypto ETF just so institutions and stuff can invest in it. But really, I think the long and the short of it is if you want to be exposed to cryptocurrency, you should just be exposed to cryptocurrency and don't try and find roundabout ways to get involved. Just, um, actually buy some of them, [00:31:15][99.3]

Bryce: [00:31:15] which is not a recommendation to do so. [00:31:17][1.6]

Alec: [00:31:17] No, no. But it's like if you if you've done your research and you decide that you want to do it, I think just being direct, like everything in life, just being directed to the point. So then then the question becomes, do you try and invest in like Bitcoin and Ethereum or do you invest in like all the other points? I mean, speaking personally, I own some Bitcoin and Ethereum. I think you just own Bitcoin. Yeah, I think most of those like Bitcoin truth that we say online, who, you know, think that the US government's going to be overthrown by Bitcoin and the new world order will you know, just everything will be made better because of Bitcoins presence. They seem to only be buying Bitcoin as well. But, yeah, I mean, I don't really have a good answer for this. Like, I'm sure there's there's some old coins out there that will do well, but it's not something that I know enough about. [00:32:08][51.2]

Bryce: [00:32:09] So there are crypto exchanges just like your broker, that you can go and buy a crypto currencies through. It's pretty straightforward. When you get in there, you generally just pick your coin and away you go to to that we use swift x s w y ethics if you got a swift X.com. But if you forward slash Equity Mates on signing up, they will give you fifteen dollars of of Bitcoin to start your journey. If that's something that interested you. That was swift X.com that I use Equity Mates it'll be in the show notes and equally if you wanted to take a bit of a softer approach, there's a macro investing app called Bambu that allows you to dollar cost, average or micro invest into Bitcoin, Ethereum, gold and silver as well. So head over and check that out. The website is Get Bambu Io. There will be a link in the in the show notes as well. If you use the code Equity Mates, they'll also give you ten bucks when you sign on. So a couple of our favourite sort of crypto exchanges. [00:33:15][65.9]

Alec: [00:33:16] Yeah. I mean I think Bambu is great for people who just want to dip their toe in the water because it's similar to raise for people who use that, you can just round up your transactions and you can put a bit of money in and you don't have to overthink. It is dollar cost averaging and you set and forget and but you do get some exposure, which is nice. Swift is our preferred. If you are if you're ready to put meaningful money in and look at, you know, the whole world of crypto. So for us, it's there are two complementary products, I think is how we think of them. We actually use both of them. [00:33:54][38.2]

Bryce: [00:33:54] So so that brings us to the end of Get Started Investing feed for the crypto one or one. As I said, it is crypto weak here at Equity Mates. If you'd like more on the crypto space, head across to Equity Mates investing podcast where we've gone a little bit deeper. Hopefully we've been able to give you some pointers to help you with the conversation at the pub. [00:34:14][19.7]

Alec: [00:34:15] Yeah, and rest assured, next week will be back to Ecuador. [00:34:18][3.1]

Bryce: [00:34:18] Yes, there will be no more crypto from here on in [00:34:21][2.4]

Alec: [00:34:21] until we do a spin off show. [00:34:22][1.1]

Bryce: [00:34:23] So Ren always good to chat. Just a reminder to everyone that you can head across to our other shows on the Equity Mates media platform, which is you're in good company, comedian, VE Economist and Mapai love. So make sure you go and check those out. [00:34:37][14.5]

Alec: [00:34:38] Yeah, you're in good company. Had a very good launch last week, but you know, we early days are critical for a podcast. So if you want to support Equity Mates, go over there, give him a ride and give them review. It helps them get on the charts and we'll make money. And so if you feel good about what they're doing. [00:34:53][15.8]

Bryce: [00:34:54] Nice. All right, well, we'll leave it there and watch it next week. [00:34:56][1.9]

Alec: [00:34:56] Sounds good. [00:34:56][0.3]

Speaker 4: [00:34:57] Get Started Investing feed is a product of Equity Mates media. All information in this podcast is for education and entertainment purposes only. It is not intended as a substitute for professional finance, legal or tax advice. The hosts of Get Started Investing feed are not financial professionals and are not aware of your personal financial circumstances before making any financial decisions. You should read the product disclosure statement and if necessary, consult a licenced financial professional. Do not take financial advice from a podcast. For more information, head to the disclaimer page on Equity Mates website where you can find the ASIC resources and find a registered financial professional near you in the spirit of reconciliation, Equity Mates media and the hosts of Get Started Investing feed Knowledge, the traditional custodians of country throughout Australia and their connexions to land, sea and community. We pay our respects to their elders past and present, and extend that respect to all Aboriginal and Torres Strait Islander people today. [00:35:50][52.6]

[1824.3]

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