Ben Simpson, founder of Collective Shift, a crypto education and research company, shares valuable insights into the volatile world of cryptocurrency. Because the crypto field is filled with misinformation and scams, Ben emphasises the need for comprehensive education and reliable research before making investment decisions. He emphasises the importance of understanding the risks and potential of Bitcoin and other digital assets. He also discusses the regulatory landscape in Australia and the disruptive potential of decentralised finance (DeFi). NB This podcast episode contains general information only and should not be considered financial or investment advice.

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What’s covered in EP249

• Introduction. (0:00)
• Crypto market volatility and how to navigate it. (1:40)
• Bitcoin as a digital gold with potential for long-term growth. (6:54)
• Crypto regulation, tax treatment, and education. (12:21)
• Investing in cryptocurrency, avoiding scams, and seeking professional help. (16:44)
• Bitcoin ETFs and investment options in Australia. (21:06)
• Crypto market volatility, correlation with the stock market, and investment strategies. (25:20)
• Crypto investing and decentralised finance with Ben Simpson. (31:03)

Takeaways

1. Understanding Crypto Volatility: Cryptocurrency markets, especially Bitcoin, are highly volatile. Investors must be prepared for significant price swings and understand the underlying factors driving these fluctuations.
2. Importance of Education: The crypto space is filled with misinformation and scams. Ben emphasises the need for comprehensive education and reliable research before making investment decisions.
3. Regulatory Landscape: The regulatory environment for cryptocurrencies, particularly in Australia, is still evolving. While Bitcoin and Ethereum are generally considered safe from a regulatory standpoint, many other cryptocurrencies could face challenges.
4. Decentralised Finance (DeFi): DeFi has the potential to disrupt traditional banking by offering financial services without intermediaries. This space is growing and may offer exciting opportunities for investors.
5. Safe Investing Strategies: Ben advises new investors to start with Bitcoin and be cautious of lesser-known cryptocurrencies, many of which may lack real value and be risky investments.

Links relevant to the conversation

Collective Shift: https://collectiveshift.io/

Ben’s YouTube channel: https://www.youtube.com/@BenCollectiveShift

Ben and Bergs podcast: https://open.spotify.com/show/5xir3V8fvtmHTAQy2D9dQd

Full transcripts are available a few days after the episode is first published at www.economicsexplored.com.