FAQ
Q: What is cryptocurrency?
A: Cryptocurrency refers to a digital currency, secured with cryptography to enable trusted transactions. Blockchain is the underlying technology, functioning as a ‘ledger’ or record of transactions made.
Hundreds of currencies are in circulation, such as Bitcoin, Ether, Monero, etc. Each is designed by one or more brilliant individuals, usually meant to run as a decentralized system so that no single entity can control it.
Cryptocurrency units are usually generated on the basis of an algorithm announced to everyone in advance, by ‘miners’ using powerful computers. Having expended a lot of time and electricity on ‘mining’, these miners can hold on to the units or sell to others.
Q: What is the purpose of cryptocurrency?
A: As indicated by ‘currency’, it was originally intended to be used in the same way as dollars are, as a medium of payment between people for products and services purchased. Consider store reward cards, an alternative physical payment method that is denominated in their own units, and not in national currency. Similarly, cryptocurrency with its own units was meant to enable easy digital transactions online, at lower costs than what conventional banks charged.
Q: Who controls the Bitcoin network?
A: Nobody owns the Bitcoin network much like no one owns the technology behind email. Bitcoin is controlled by all Bitcoin users around the world. While developers are improving the software, they can't force a change in the Bitcoin protocol because all users are free to choose what software and version they use. In order to stay compatible with each other, all users need to use software complying with the same rules. Bitcoin can only work correctly with a complete consensus among all users. Therefore, all users and developers have a strong incentive to protect this consensus.
Q: Is it possible to lose all of my money when investing into digital currencies?
A: Yes. Otherwise known as investment risk, permanent loss of capital is the risk that you might lose some or all of your original investment, if the price falls and you sell for less than you paid to buy. We help our clients understand and navigate all aspects of risk and custom tailor an investment strategy for them that matches their risk tolerance level and overall investment goals. We deploy multiple strategies to minimize risk and undue exposure. Cryptocurrencies are volatile and with volatility comes big risks and big opportunities.
BrightLink is here to make it as secure as possible for you. With our stop-loss features, partnership with Equity Trust, and commitment to deliver relevant and balanced tips and updates on the market, you will have the tools you need to make better investment decisions.
Q: How do I know if BrightLink's investment advisory services are right for me?
A: Schedule a call with BrightLink to discuss your investment goals and we’ll help you discern whether our program is a good fit based on financials and your current exposure in the market. We operate in a fiduciary role, which means we only earn commissions once our clients profit first. Therefore we only make our services available to those that we believe are a good fit and have the proper resources and investing experience to.
Q: What requirements are there to access BrightLink's services?
A: Like a bank or brokerage account, you’ll need your name, contact info, date of birth and your social security number. We collect this information to maintain the highest level of security for our clients by verifying your identity and preventing access by unauthorized individuals. You must be at least 18 years of age to participate in our programs.