Lifestyle brand Goop features a new guide to cryptocurrency investing. The online publication posted an interview with Bill Barhydt, CEO of cryptocurrency exchange app Abra, on the “Basics of Bitcoin and Cryptocurrency.” The article is a crypto primer targeting Goop’s wide reach and mainstream readers who have an average household income of $100k+ per year, according to Adweek.
Goop’s founder, Gwyneth Paltrow, tweeted the crypto investment guide to her 2.87 million Twitter followers.
— Gwyneth Paltrow (@GwynethPaltrow) November 5, 2018
“There are thousands of cryptocurrencies, and more are being developed and launched every day. Some cryptocurrencies are versions of the Bitcoin blockchain that are trying to solve for other issues. Litecoin, for example, is designed to enable faster and cheaper transactions, while a coin like Dash is designed with additional privacy in mind. Then there are other cryptocurrencies that are building completely new infrastructures. Ethereum is the second most popular cryptocurrency in terms of network value. There are a lot of ways to measure value, but cryptocurrency systems are valuable in part because they are open and distributed networks. And Ethereum is designed as a platform to run decentralized applications and smart contracts, and it is used to create new tokens that are distributed via initial coin offerings (ICOs) or token sales.
We’re still in the early days of cryptocurrencies, so it will be interesting to watch as this whole new sector unfolds.”
Abra allows users to buy, store and invest in 28 cryptocurrencies.
You can read the full interview here.