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6 of the Best Videos to Help You Actually Understand Crypto
Credit: Rabanser - Shutterstock

The new year has kicked off with a slew of negative crypto news. Now more than ever, for every one trustworthy source on crypto, there seems to be hundreds of YouTubers spewing less-than credible “advice.” Videos that appear to be unbiased explainers will end with a segment selling you hard on specific investments. As with all things money-related, it’s important to remember that most so-called gurus are going to give advice that’s better for them than it is for you. Most of the crypto-related videos online should be viewed through a lens of entertainment purposes, and should not be relied on for, tax, legal or accounting advice.

That being said, it doesn’t hurt to see what’s out there—whether you’re learning how the blockchain works for the first time, or you’re looking for 2023-specific advice to make the most of your investments. Although my YouTube journey didn’t convert me into a crypto-head, perhaps where I fostered my skepticism, you’ll find inspiration. Here’s a round-up of some of the most helpful video explainers on the topic, so you can give yourself a crash course in all things cryptocurrency.

How does blockchain work (Simply Explained)

Before you dive into buying and selling specific crypto, you really should understand the basic mechanisms behind cryptocurrency. As IBM explains it, blockchain is “a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network.” But if you’re like me, that explanation doesn’t instantly make a ton of sense. In that case, the video above from creator Simply Explained does a good job of putting the concept of blockchain into accessible terms.

Cryptocurrency explained (CBS News)

Now that you understand the basics of blockchain, it helps to get a more focused overview on how cryptocurrency works in practice. This clip is easy-to-digest and, generally speaking, it’s news sources (like CBC News featured above) that should be your go-to for a baseline crypto explainer. Like we mentioned in the intro, it’s all too easy to click on a supposedly unbiased video that eventually tries to sell you on a specific currency.

Bitcoin Trading for Beginners: A Guide in Plain English (99Bitcoins)

Now that you understand the basics, it’s time to apply them to the actual process of trading Bitcoin. Bitcoin trading is the act of buying low and selling high. Unlike investing, which means holding Bitcoin (or another cryptocurrency) for the long run, trading deals with trying to predict price movements by studying the industry as a whole and price graphs in particular.

This video from 99Bitcoins goes into how to trade Bitcoin, provides a glossary of terms, explains how to read price graphs, and offers common trading mistakes (like risking more money than you can afford to lose).

How cryptocurrency actually works (Mrwhosetheboss)

Even if you aren’t fully onboard the crypto train, it’s wise to educate yourself on the sort of knowledge others are eating up—like the 13 million others who subscribe to tech YouTuber Mrwhosetheboss. Compared to the videos on the previous slides, this one is far more in-depth, diving into the specifics of Bitcoin, Dogecoin, Ethereum, and NFT’s. If you’re only going to watch a few minutes of this video, I recommend skipping the beginning and opting for about ten minutes in, when there’s a useful “dark side” segment about the problems and oddities that come with crypto.

How to invest in crypto full beginners guide in 2023 (Brian Jung)

If, after all of those, you are still interested in buying crypto, this guide has up-to-date tips for beginners. Jung is a YouTuber who focuses on videos on crypto and personal finance. Although his status as an investor is a sign to take his recommendations with a grain of salt, he does have generally useful advice, like the urging other investors to get a security key.

Understanding The Rise And Fall Of FTX, FTT And Alameda Research (Forbes)

Finally, whatever your stance on crypto, it’s important to understand what the hell is going in the landscape right now. This 20-minute feature from Forbes explains one of the biggest scandals in crypto right now: The fall of FTX. As the video explains, the fall of FTX and Sam Bankman-Fried “revealed holes in the crypto space that industry peers, the media, and government officials either chose to overlook or refused to question further.” Anyone drawn in by crypto would be wise to learn about how fragile an ecosystem it can be.

And a bonus: Line Goes Up—The Problem With NFTs (Folding Ideas)

Though this oft-shared, in-depth video essay deals more directly with NFTs than Bitcoin, many of the same lessons apply to both markets, as both operate on many of the same principles and technologies. Also, it shows up in the comments on every article about the subject, so I might as well head someone off at the pass. It truly is a fascinating dive into the mindset driving (at least some) investors to risk so much in a still largely untested, uncertain, and unregulated market.