Cryptocurrencies, Anyone? These Celebrities Are Investing in The Currency of the Future [Photos]

The Bitcoin frenzy has mostly died down, but did you know that several of your fave celebrities have gotten involved in the cryptocurrency boom?

You may be asking yourself, “What is cryptocurrency?” Well — let us help you out.

The most common definition of a cryptocurrency is as follows:

A cryptocurrency is a digital or virtual currency that uses cryptography for security. A cryptocurrency is difficult to counterfeit because of this security feature. A defining feature of a cryptocurrency, and arguably its most endearing allure, is its organic nature; it is not issued by any central authority, rendering it theoretically immune to government interference or manipulation.

You’ll also want to familiarize yourself with the term blockchain:

Blockchain, is effectively  a database that’s validated by a wider community, rather than a central authority. It’s a collection of records that a crowd oversees and maintains, rather than relying on a single entity, like a bank or government, which most likely hosts data on a particular server. Of course, a physical database kept on paper could never be managed by tens of thousands of peers. That’s where computers, and the internet, come in.

Each “block” represents a number of transactional records, and the “chain” component links them all together with a hash function. As records are created, they are confirmed by a distributed network of computers and paired up with the previous entry in the chain, thereby creating a chain of blocks, or a blockchain.

Now that we have the definitions out of the way, see which celebrities are taking advantage of this new financial tech (via TokenStars).

Floyd Mayweather 

Just a few days before his historic fight with Conor McGregor he hyped up the ICO of a blockchain based content marketplace, Hubii Network. He also stated that we could call him Floyd Crypto Mayweather?—?and announced his support for the third ICO.

Mike Tyson

Mike Tysonpartnered with Bitcoin Direct to introduce Bitcoin ATM (which makes transactions “in less time than Tyson did a knock out’’) and a digital wallet for iOS and Android. When launching the ATM line, he said he was grateful to be part of the bitcoin revolution. That was in 2015, when Bitcoin was dirt cheap compared to the current price.

The Game

The Game owns a marijuana dispensary in California. Apparently, weed industry can benefit from blockchain too: the hip-hop artist recently got on the advisory board of Paragon, a company that wants to use the blockchain to disrupt the marijuana market.

DJ Khaled

DJ Khaled has been endorsing ICO of Centra. He shared a photo with a Centra card on Instagram (which all his 8,5M followers could see). He also posted a video talking about storing and using various cryptocurrencies.

Nas

Nas invested in more than 40 startups including Coinbase, a secure online platform for buying, selling, transferring, and storing digital currency.

If you’re looking for a future-proof investment, we recommend researching more about cryptocurrencies and blockchains. Who knows, you could end up as lucky as these people did.

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