276. Cryptocurrency and Blockchain Basics – Interview with Cryptocurrency Expert, Richard Carthon

Susan Sly 00:00
Hey, I hope you're having a great day. I'm so excited about this upcoming show. My guest is literally the person who cuts through the nonsense and gets out any of the noise around cryptocurrency. And so if you've ever had the question about what is cryptocurrency, How does the blockchain work, Is it something I should invest in? Then today's episode is absolutely for you. And before I get into the show, I have been traveling a lot. I have literally been living on airplanes. And one morning I woke up, I was like, where am I? And I think that the the greatest thing for me in all the travel and meeting with entrepreneurs, meeting with investors, meeting with potential customers, is that there is this just salient truth to what it takes to grow a significant sized business. And so over my decades as an entrepreneur, I've been thinking about how do I encapsulate all of the no nonsense basics to go from employee to a successful entrepreneur. And so I have a new course called Employee to Entrepreneur, and you can go to susansly.com/employee-to-entrepreneur, and check it out. It is on sale right now, you get it for $350 off the list price, with the code success. And this is, again, it's decades of just no nonsense wisdom in terms of how to go from being an employee to how to start a business, how to test your business, how to make sure that you're doing things the smart way, not taking too much risk. And if you're risk averse this is definitely for you. So go check it out right now, Susansly.com/employee-to -ntrepreneur. And with that, let's get into this episode.

01:52
Welcome to Raw and Real Entrepreneurship, the show that dares to bring the no nonsense insight to those who have the courage to start, grow, and scale a business. Here's your host, entrepreneur, investor, and best selling author Susan Sly.

Susan Sly 02:08
Well, what is up Raw and Real Entrepreneurs. wherever you are in the world, I hope you're having an amazing day and my guest today, I am so excited. I mean, I get excited about a lot of shows. This one is a different level of palpable excitement because I have so much respect for my guest and what he's doing. So in addition to being on a mission to bridging the gap between people who know nothing about cryptocurrency and blockchain with thought leaders in the space, he is focused on educating people and getting rid of the hype and the nonsense through his podcast, Crypto Current, his YouTube channel, his blog, his social media. And in addition to all of these things, he comes from a background in finance, Merrill Lynch. He's been on the Today show, he has a TED talk. And he really looks at cryptocurrency, holistically. And how do we help everyday people really generate wealth, but also doing so in a way where they're educated about it. So I want to welcome to Raw and Real Entrepreneurship, Richard Carthon. Richard, thank you for being here.

Richard Carthon 03:20
Thank you so much, Susan. That was an amazing intro. Excited to be here having a conversation with you today and excited to let a lot of your listeners who might not know too much about crypto to not let it be so intimidating, and to be a little bit more welcoming.

Susan Sly 03:36
You. Okay, so let's go back in time, Merrill Lynch. How does a guy from Merrill Lynch say, I want to leave all of this because I deal with Wall Street VCs, Silicon Valley VCs all the time in my work with Radius. And you could have gone investment banking, you could have, there were so many things, but why did you decide that it was your life's purpose to educate people on cryptocurrency and the blockchain?

Richard Carthon 04:05
So it was a journey to get there. I think what I first discovered was my passion for entrepreneurship. So while I was working at Merrill Lynch, I was also building out my very first startup, a counter platform and was able to raise some money. And I was like, You know what, let's go for it now. Now's the time to be risky. Let's go do that. And so as I pursued that, I got to a point where I needed to go raise more money, but I need to also extend my runway. So I had to make a difficult decision. take myself off a payroll, fire my first employee, unfortunately, and I went worked at an AI company. And this is early 2018. We're at the top of the latest bull cycle, right? And Bitcoin just got up to 19,000, at the end just got up to 14,000 like everyone is just like, super hyped on this. And my very first day at my job when I worked at AI company, my boss says, Hey, what do you know about crypto? I said, What's that? And he's like, look into it. And as soon as I did, I went out on this, probably said, this is the future. This is my opportunity for all those people who talk about oh, I learned about like the internet when it first came out, I got to get into Apple, Amazon, etc. at the very beginning, I felt like this was that opportunity for me. And so I basically just went all in at that moment, was like, I need to figure out how I can be in this space.

Susan Sly 05:21
And isn't that an amazing aspect of how all of the worlds are converging? So AI, blockchain cryptocurrency and, and so for many people, they get quite overwhelmed about it. And I was just, last week I had dinner with Azita Martin, who is the head of retail AI for Nvidia. And so Nvidia is one of our strategic partners at Radius. And they, when they're talking about their roadmap, Richard, web three, crypto, blockchain like that, yes, we're doing AI at the edge, which, you know, is like a big thing. But that's where they're focused on. And that's Nvidia, I mean, you know, so to that point. So let's back up a little because we have a wide range of listeners who range in age from 12 years old, all the way up to 95 years old in 140 countries all over the world. Let's back up a little bit and talk about cryptocurrency. So, right now we see there's a lot of news about crypto. And if you turn on Market Watch, it's like oh, cyptos over and I'm lik,e whoever wrote that doesn't understand this. What, if you could make the concept of cryptocurrency super simple, which I know you do all the time for these listeners, How would you define it?

Richard Carthon 06:42
So the first thing is, before you can get into cryptocurrency, you first need to understand blockchain, the underlying technology. So blockchain is the base layer of all the technology being built. And think of it as digital storage. So as you're putting data into this digital storage is put on the chain. And it is there into perpetuity is immutable. So you can always go back and see what has happened previously. So then you have a layer on top of it called cryptocurrency, which the very first cryptocurrency was Bitcoin. The reason Bitcoin was created was in response to the 2009 financial, 2008 financial crisis. So 2009, Satoshi Nakamoto, which is cyber tsunami, this group of people or person came together and created Bitcoin so that you now have a way to have responsibility for your own money. So having a form of payment that is on top of blockchain, that is being able to be transparent, so that people can see it, it is finite, so you cannot create more of it, which creates scarcity. So you can't have hyperinflation and is immutable. So once you are able to send it, it can't be undone. And for as long as you have somewhere safe, safe to secure it, you become your own bank. So that is extremely empowering. Right now, if you go put money in a bank, you're hoping like, the banks basically saying like, you give me this money, I will give it back and for FDIC insured here in the States, that means you put a $250,000 in the bank, and if everything goes on fire, you will get that money back. However, for a lot of other countries, they don't have things in place like that. There are things in place where if your money starts to go down in value, there's not a whole lot you can do. You can't just get up and go, a prime example, when the war in Ukraine happened, you saw a lot of people take their money, convert it into Bitcoin and leave. And that way you could have that and then transfer it to the local currency. So cryptocurrency at its core, is a way to be able to empower people through value. And there's so many different directions we can go but we're going to start there.

Susan Sly 08:51
Empower people through value. I'm writing that down. And to your point, look at the Turkish Lira, look at so many currencies around the world that were not stabilized in something. And this is a whole other conversation looking at some countries are stabilizing their currency against Bitcoin as the new quote unquote gold standard. So when we're thinking about cryptocurrency, one of the the hypee things that you know, we're seeing in the news is it's over, you missed the boat. And yet when I'm on airplanes, I can think of, a couple of weeks ago, I was flying to Boston, and I'm sitting there and I started a conversation with this guy, and I'm, I'm turning 50. I, just disclosure, you can see on my website, but I invest in cryptocurrencies. So we start and he's 32 years old. He's a financial analyst in the oil and gas sector, and we start talking about crypto and he's like, oh, yeah, 25% of my retirement portfolio is in crypto. And one of the stats I read especially for millennials is that it's very common. So let's talk about investing as a long term asset. So what is your, when someone says, Oh, it's over and you shouldn't have any money in crypto, what is your sort of gut reaction to that?

Richard Carthon 10:13
Tt's the same thing that comes up roughly every two years or so. So just got started in 2010, I actually created a little piece of content, it's on our TikTok, basically, the price of Bitcoin in July for the last like. decade. Starting from 2012, over the course of next 10 years, and every time they say, it's dead. So you go from like, hundreds of dollars to like $500 to a couple thousand to then 500 to then 12, it just keeps building. So even though you might have a year or two where it goes up, and then it goes right back down like, let's say a 50 to 90% correction, if you look at the long term expansion of a decade in crypto and specifically to Bitcoin, if you had put in $20 in 2010 when you got into Coinbase, when you were able to like, make that first investment into it. Today, it'd be worth somewhere with the price of Bitcoin being roughly $24,000. It'd be worth like $6 million. So like, Where in the world can you get that kind of return? It doesn't exist. And if you look across Ethereum, for example, if you got in back in 2014, when Ethereum hit $1,000, I believe, you would have still made six figures in a matter of six years. There's such, the greatest investment of all time, there's a quote unquote, there's this person who got into shiba inu, which that's a meme coin, it's a whole other can of worms. But this person put in like $10,000, at its lowest. And over the course of a year, it became worth like $4 billion. Like that is insane. Like you—

Susan Sly 11:50
explain a billion. They put in 8700 and it went to 6.8 billion. And my friend Mark, Mark Divine, you know, he's a, he's, he's an amazing entrepreneur, he's written five New York Times bestsellers, Navy Seal, team leader. So Mark and I talk about crypto, and he's got a massive crypto portfolio. And so he, the day that was released, we were texting about it. And and these are the stories you hear. And then conversely, you also hear that it's so risky. And I want to point out what Warren Buffett says, You didn't lose money if you didn't sell it. And so you come from a background at Merrill Lynch, and you probably don't know this about me, but my, my, one of my jobs in high school was working for, in Canada and investment firm called Richardson GreenShield. And because this was before supercomputers, I was doing manual calculations of compound interest on people's portfolios. And that was back in the day where you didn't know the stock price until the next day reading the newspaper, right? So people would have like, a suite of companies like these blue chip stocks, and I would have to do the manual calculations. And this would be assuming they didn't sell any of it. And where I see the greatest risk for people is investing when they don't understand something. And that's why cryptocurrency is a must like, I'm subscribing because it's, this no nonsense education, that's one. And number two, is it's about the long hold. So let's step out of crypto for a minute because of our shared love of finance. And let's talk about Apple. So Apple has split several times. And if you look at the value of say $10,000 investment in Apple, say back in the 80s and what it would have been worth now had you held it, even Warren Buffett, before Apple split, sold all of his Apple shares, and had he held on another I think six months he would have made billions more. So even Warren Buffett makes mistakes, right? And so looking at the charts, I love that you use that as an example, looking at the chart and seeing, it just becomes a new bottom, a new bottom. And most shares that have any merit like your Apples or, Amazon just did a split, I just bought some more Amazon, full disclosure. Google just did a split, Tesla's doing another split. Any of these big companies that do that, they're gonna have a new bottom, a new bottom is the same thing I'm seeing with crypto. Let's talk about, you mentioned Ethereum. So there's big news coming up with Ethereum, which I'm really excited. I've staked some Ethereum. Can you talk about what's happening with Ethereum? And I guess break it down for people who might not understand.

Richard Carthon 14:31
For sure. So with Ethereum, if Bitcoin is meant to be a store of value, Ethereum is a platform, so think of Ethereum as like a written language, if you think of iOS, for example. So Ethereum is a layer one solution, and it's meant to have things be built on top of it. So those would then be considered layer twos. So your Ethereum is also your first altcoin so anything that is alternative to Bitcoin is considered an altcoin. And a lot of crypto currencies aren't meant to be currencies instead, they are web three blockchain startups. So think of cryptocurrency as the greatest word that you hear in the like, anytime you hear cryptocurrency, these are blockchain startups. So what do we know about startups? 90% of them fail. So if you look at the long term play of a lot of these companies, they might not all make it. If you go back to just do a bridge back to web 1.0, you had some really big companies that came out that ultimately didn't make it. AOL was crushing it for a very long time. They were the industry leader. They didn't make it. Amazon you didn't really hear about, they were selling books. And now they're the biggest empire pretty much out there. Right. So there are these cryptocurrencies, these web three blockchain startups that are emerging and are being built right now that in over the next decade might emerge to be the big winner. Ethereum, for example, made a big stake and has had a lot of things built on top of this ecosystem. This has the second largest market cap after Bitcoin. And the big news on Ethereum. Ethereum has its value through what is called Proof of Work, which is very, to wrap that up for you real quick, really hard computational math is done, once it is done, you are then rewarded in Ethereum. Same thing that Bitcoin does, but it's super slow, it makes, it jams up the system, which then makes transactions that happen on top of it extremely costly, and not as fast as you would like. So what they're doing is moving to proof of stake, which basically means that by staking, by putting up some of your crypto, you're then proving the network, and then you are getting rewarded for doing that. And so they're moving to a proof of stake model, which should be going live sometime in September, which should help to make the transaction space on top of Ethereuma lot cheaper.

Susan Sly 16:47
And that, thank you for that explanation, because it is you know, for a vast majority of people it's complicated to understand. And what they're asking is, should I invest in Ethereum? Is it too late to invest in Bitcoin? Or what about some of the other coins? I want to go down the slippery slope or use, as you said, you know, the wormhole of meme coins. And so when I was, earlier this year, I was guest lecturing at MIT. And I said, you can say what you want about meme coins and meme stocks. But you have to look at, it's driven by the people. And I want to frame this in for you, Richard, because I don't know your thoughts on these particular two that I'm going to mention. But when you look at early Facebook, I had an investment advisor who I later got rid of, because he said Facebook wasn't gonna go anywhere because it was a free platform. And I said, Listen, the value of Facebook is the number of users. And so what I see personally, my view is with the meme coins, and you look at Reddit groups, that the value in those coins is the number of users and the ones that will hoddle, right? And they'll you know, be part of the Shib army or whatever it is. And someone I know, 21 years old working in the tech industry, she and her friend each put a little bit of money in Doge a few years ago. She put in I don't know, I want to say it's like $5 or $2. And she makes $500. And he puts in like $100 and makes something like 500,000. Like it's just crazy math, that multiplier. Let's talk about meme coins. What is your personal sentiment on shib and doge?

Richard Carthon 18:34
So with all main coins, you're selling hype. You're, there's no underlying value. Like if you look at Dogecoin, for example, the original owner sold all theirs because they literally said this was a joke. But if you think about money, what is the construct of money, What is the concept of value? It's what the market determines it is. So as soon as it became more widely known, and you had bigwigs like Elon starting to boost it up, and then you had, for example, Mark Cuban allowing people to pay for merchandise at the maverick Stadium in Doge. Oh, now this is legitimate, right? So you saw this thing where you could get Dogecoin for under a penny and then see it go all the way up to 70 cents. I personally know people who became millionaires from Dogecoin.

Susan Sly 19:23
And they're all living in Puerto Rico right now.

Susan Sly 19:26
But like, going back to why crypto is so incredible. They're not all gonna make like, a lot of people are gonna lose a lot more money than they make if they come in thinking they are traders instead of thinking they are investors. That's where people mess up. People come in and they think they're traders, and they absolutely get destroyed. But if you come in as an investor, doing your research, getting educated, learning about the project, who's the team building the project, what's their long term solution? What's their timeline? Are they actually executing on the timeline? And who are their backers? Who are the people who like, put in money to see this succeed? If you look at traditional finance and VCs, they do extensive amount of research before they put in money. Why is it any different for moving over into the web 3.0 space? So you're starting to see that transition starting to happen a lot more. People aren't looking at this week long, month long, year long trajectory, they're starting to look at, okay, what's going to be here in three to five years? And what does that X multiplier look like? So in the regular market, you're excited if you get, you know, you're 8 to 15%, which is great. Like, that's, that's fine. And crypto, you're looking at multipliers like 2x, 10x, 25, 100. The scale is just different. And the time horizon is a lot different as well. So going back to your point of meme coins. So when you think about risk profile, meme coins, I'd say is like, crypto is already like in the 10% of like, as you diversify into risk profile, that's your risk. But then like, you get even more risky. That is like, your meme coins, that's like the 10% of what your risk profile should be, because you're gonna probably miss out and lose on most of it but for the ones that win, they win huge.

Susan Sly 21:08
And that, all of, I love, Richard how logical you are about this, and making that, that aspect of the research so important, right? So one of the things that I do before I invest in any company like even in, you know, my brokerage account, I look at the charts, I look at the research, I look at the news, and I, it doesn't matter if I'm investing $250, or if I'm investing 1000s and 1000s in a particular single stock, because I did a, because you know, of my work doing my broker certification, and then doing options trading certification, I know how to read those charts. I read the crypto white papers. So just because I have Shib and I have Doge doesn't mean that's the bulk of my trading. And that's the other thing that I'm passionate about, and that's why I'm so excited to talk to you is because you put the logic and the sanity in it. You shouldn't be investing in meme coins unless that is disposable income. So you say, Well, I was gonna go for beer with friends, but I'm going to sit in and watch Netflix, I'm going to take the 50 bucks I was going to spend and that's what I'm going to put in because I would have just missed that money anyway. So it's not a big deal. But it's where people get hurt, is when they're going into debt. And we saw especially with Shib, we saw, like on the Twitter thread for the Shib army, people taking out mortgages to invest. And where is that now? It's the same thing with Doge, whatever Doge was, it was like seven cents. And so that, you know, looking at that and being really smart about it. One of the, one of the coins I'm very interested in is Solana. And so this goes back to what you just said about research, because I know that visa is using Solana as part of its blockchain initiative. So in terms of let's say, someone does the research, they see that this big company is backing it, what would you say is a good strategy and a sane strategy for getting involved when someone finally says, yeah, it looks really good. This is something I think I should invest in.

Richard Carthon 23:17
Absolutely. So first and foremost, not gonna give any investment advice to anyone here today. But for my personal opinion of how I go about when is it right to move forward? The first is, as I look at this project, who backed it, what was its all time high, and is there a path to it getting back there and potentially exceeding it? So when you get into crypto bear markets, you see anywhere from a 60 to 90% correction, and for most people, they cannot stomach that, like that type of sheer risk and that type of downturn makes people want to quit and get out and say it's a scam. However, whenever you look at the long term trajectory of pretty much your blue chips, and when I say blue chips, it's your top 25 cryptos based on market cap, you go to coin market cap or coinGecko, a couple of these other ones, and they'll show you what those top cryptocurrencies are by their market cap. But if you pretty much get any of them and you look over the course of their life over a certain amount of time, you typically win. So for example, in Bitcoin, if you bought at the top of the market pretty much every single time and waited over the course of three years, you made money. Now for a lot of people, when for, going back to 2018, you bought the top of the market at $19,000. You saw it go all the way down to $3,000. You're freaking out, you're like, I just lost all this money, I don't know what to do. But if you have a long term trajectory, and you wait until 2021, you saw it hit $60,000. So you still made 3x in three years. Again, a lot of people can't stomach that type of risk and that kind of downfall, but with time, you typically see your blue chip cryptos Have a lot of success. So even looking at Solana and the example that you brought up, Solana at the beginning of last year was only a couple of dollars. And you saw it go all the way up to over $200. So let's say you just got in at $10. And you saw it go up to 200, you made 20x in a year if you had sold some of it, but even even if you bought it at $10, and right now, I think it's sitting around 30, you're still up 2x. So it's just, you have to Yes, be able to stomach some of that risk profile and volatility that's in it. But if you have a long term trajectory of like, where this is headed, your multipliers are just so much more significant, which is another reason why I want to bring up the concept of taking profit. So any long term investment that you have, you need to understand I'm willing to put in x, I want to make x and then after you make that you let the rest ride. So for example, if you were to say I'm going to invest $100, as soon as I make $150, I'm going to remove $125, I'm going to let that remaining $25, just go until I'd need this liquidity. So then you're just letting your money multiply, and you're letting it ride. Because at that point, it's house money. You've made the return that you were looking to make you have a trajectory. Where people mess up is they have no target. So you see it go up a ton, you're like, oh my gosh, I made all this money. And then you double down, you might even buy a little bit more. And then it starts going down. You're like, oh my gosh, I just lost all this money. Like, there is way more sellers remorse than there is of buyers. I mean, there's way more buyer's remorse than sellers remorse. Right? So what does that mean? So if you buy at $100, now it's worth $150. And you saw that 150 and it goes up to $200. You are sad, but you're a lot more sad if you bought it at $150, it goes up to $200 and now it's worth $100 and you sell it You're way more upset about that typically from an emotional standpoint about it. So a good reminder to set targets for taking profit, and then letting the rest of your money build off of that.

Susan Sly 27:15
Richard, that is such sound advice. And I love that, you know, being very clear and deliberate. What is your exit strategy? When are you taking it off the table? And that, that long term play is the you know, I'm not giving investment advice. I'm just closing. Yes, I have Shib and Doge. You guys have heard me say that before. But that is not money I'm planning to retireon, right? Like, sure, if Shib goes to a penny, like I'll be, you know, doing the happy dance. So that's all good. But stocks are no different. So I'll use an example. So right now, flying a ton as you and I were talking about and I'm flying United. Every flight is sold out. It's crazy. They're paying people to get off the flights. And yet the stock is trading today, the day we're doing the show at $36. At its peak in 2019, December 2019, it was $96 a share. In April 2020, the big drop. And it was you know, a lot of people did the most stupid things. They sold a ton at the bottom, which that's why if you are that person and you do not have the resilience, you need to use an investment advisor who's sane because that's a buying opportunity. So I got excited. I'm like, I went shopping and like, forget purses like, I'm going shopping in the stock market. But United, despite really great performance, has not even peaked at its April bottom, which was half of its top, right? And so the reason I mentioned this is people say well, crypto is very volatile. It's an, iT is volatile, but it's a naive statement to say it's safer than stocks because if you had bought United at 96 and here you are today, a third of that money that you put in, so for every 100 bucks you put in you now have you know about $38, you'd be saying that was a big mistake, and crypto is no different. And so it's that holding that is really important and being smart about it. So let me let me ask you this. So let's talk about wallets. So there's a lot of, people shouldn't get their financial advice solely on Twitter or TikTok because there was something going on in TikTok a couple of weeks ago, which is bitcoins, or sorry. Coinbase is going to steal all your money, it's going to shut down all your accounts, right? So you have people who actually don't know what they're talking about causing a lot of fear.

Susan Sly 29:50
Can you describe a wallet and give an example of how people move their crypto into a wallet?

Richard Carthon 29:58
Absolutely. So for your person who has never, ever like dealt with crypto. Let's take a journey. So where would you start? For a lot of people in the States, a good place to start is Coinbase. For example, now this in exchange, this is an on ramp to take your Fiat, your US dollar, and convert it into a cryptocurrency. So you KYC, which is know your customer, you fill out all this paperwork, and then they confirm who you are. And now you have an account. So now let's say that we'll just start with the Etherium. So you want to buy $100 worth of Etherium. So you purchase that, use your $100, you convert it into Etherium on now it is sitting on Coinbase, on technically a wallet, so on Coinbase itself as a hot Wallet. So there's a difference between hot wallet, which means that you can move it, you can do things with it right now. You have cold wallet, cold storage. So this is like ledger, this is a Nano S. What's great about cold storage is that once it's there, it can't leave unless you physically have it to move it. So what does that mean? If I'm on Coinbase, and a plethora of things could happen. My account gets hacked, someone steals my account, and then they send it somewhere, it's gone. Again, crypto is a one way street, there's no, there's no pullback. You become the bank, you are the bank. So if you have $100 of crypto, and then you send it somewhere. Let's say you're trying to send Etherium but your friend has a bitcoin address, so you send it to their bitcoin address, it's gone forever. So you have to first be able to send the right crypto to the correct address. That's, so that's its own kind of worms, we're not gonna go down that right now, we're gonna stick with wallets. So you have exchange wallets, if it is on an exchange, you don't own it. There's a very famous thing called not your keys, not your wallet. So you want to control the private keys, the private keys, with a lot of these wallets that are made, for example, you have probably the most popular it's meta mask. So if you are on your computer, or even if you're on your phone, meta mask is a wallet that you're able to use. A lot of it's based on Etherium. You also can convert it into like, Avalanche. You can also convert it into Bennett smart chain, etcetera. If you're on the Solana ecosystem, you would get a wallet like phantom wallet or some of these others. So you have different types of wallets for different types of ecosystems. So sticking with the solution of Aetherium, if you want it to securely have your Aetherium to where no one could take it, you would need to get a different type of wallet. So they do have the Coinbase Wallet. So technically, if you have the Coinbase wallet and Coinbase goes under, you still have it because it's your keys, it's your wallet, you own that. If it's just sitting on the exchange Coinbase and it goes under, you're stuck. So if you look at Voyager, for example, that's a big one that just happened. Voyager has been around for like eight years. I have a friend who was on Voyager, has a significant amount of money on it, and basically can't access it, because it was sitting there. However, if that same money was sitting in a wallet that he owned, for example, Ledger S, no one can take that from you. You, this is your bank, like this is your money. There's nothing anyone can do to take this from you unless they physically have this and then have your code or they somehow have your seed phrase, which is your again, going back to your keys, your private keys or your seed phrase to be able to recover it in the event that something happens. So it's the most secure way to protect your assets. And I know that's a lot of information to probably take down. I'm sure we can spend more time on that at a different time. I have plenty of resources for you on that. But just know that to protect yourself, if you have crypto, don't let it sit in on an exchange. Make sure you have a wallet and a couple of good wallets out there. Metamask, Ledger S is a cold storage wallet is probably your best one. We have Exodus, that is also out there, is a pretty good one. And the trust wallet. Check those out. If it's on one of those wallets, and somehow an exchange goes down, you should be fine. But protect yourself.

Susan Sly 34:08
Richard, and that is why, and I'll say it again, I am so excited about today and everything you shared because it's practical. It's common sense. It gets rid of nonsense. And I want to encourage everyone to check out Crypto Current, Richard's show, but also to go to crypto-current.co And also follow Richard on social media. So on Twitter, he's twitter.com, and you, like me, I don't actually have my full name but RichardCarthon on Twitter, and Instagram it's Richard_carthon, and on LinkedIn company/crypto-current-llc. I think I got them all. And today the links will be available in the show notes, everyone. So Richard, thank you so much for being here. I took two pages of notes and I look at this stuff every single day and I really want to thank you for breaking it down, keeping it simple, and making it so accessible for people who just might not know. So, Richard and I would love a shout out on social media. If this episode has been helpful, we'd love a five star review. Please go ahead and share this with social, tag us. And Richard, thanks again for being here.

Richard Carthon 35:19
Susan, this was a joy. I appreciate it. For anyone who is looking for resources, reach out to me, I'm happy to give them. Web 3 is not meant to be scary. It's meant to be here for everyone, and you can take advantage of this amazing opportunity.

Susan Sly 35:21
Awesome. Well, thanks so much, Richard. And remember that. Web 3 is not meant to be scary. So with that, God bless. Go rock your day. And this has been another episode of Raw and Real Entrepreneurship.