El Paso’s first ever cryptocurrency conference was held at the Civic Center Plaza in downtown El Paso on Saturday, Feb 3. Many people gathered to learn more about investing in cryptocurrency.
“There are ways that you can use 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 transcending, you can trade it and actually a pretty painless process,” said Paul Wards.
It has been considered the future money in the context of transcending globally. The most well-known form of cryptocurrency is bitcoin.It originated in 2009. There are some skeptics of this new form of money, like El Paso and realtor RickSnow.
“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,” said Snow.
Wards said like electronic anything there is a possibility for hackers to access information but it is happening now even outside of cryptocurrency. Overall wards said it is smart decision to invest in cryptocurrency and can ultimately make you more money. He said it can be a little confusing for some who just starts learning about cryptocurrency. “There are more and more application 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 at El Paso.
There were two conferences one for the beginners and the other one for advanced cryptocurrency users. 30 dollars was the cost to attend each conference. In December 2017 the price of Bitcoin peaked at almost 19000$. It has since declined valued at just over 9000$.