Jamie Foxx And Cryptocurrencies
In September 2017, Jamie Foxx revealed that he was investing in cryptocurrencies. Following this announcement, the price of Bitcoin rose to a new all-time high of over $6,000.
Over the course of 12 months from that date, the price fluctuated between highs and lows ranging from $2,500 to about $3200 before finally settling at around the same level.
Who Is Jamie Foxx?
Jamie Foxx has received fame as an actor since the 1990s. He is best known for his roles in the film “Ray”, “Django Unchained”, and “Bring It On”.
He also starred in various TV shows including “In Living Color”. In 2004, he scored a Grammy for Best R&B Album for his album “Unpredictable”.
Jamie Foxx Loves Cryptocurrency – Invested in COBINHOOD
As a celebrity who likes cryptocurrency, Jamie Foxx has partnered with COBINHOOD to invest in cryptocurrencies.
He has stated that “Crypto can make the world equal”. Foxx also expressed his opinion that the security and efficiency of cryptocurrencies can change the world.
COBINHOOD is a cryptocurrency exchange platform that aims at making the trading of cryptocurrencies easy and accessible to everyone. On this platform, no account is needed to trade cryptocurrencies and only a unique currency address is required to store them.
Is Jamie Foxx Hopeful About Cryptocurrencies?
Jamie Foxx has expressed optimism about the usage of cryptocurrencies by 2023. In an interview, he stated that “If cryptocurrency is used as a means of payment, then it would be very equalizing across the world”.
Additionally, Jamie Foxx believes in the benefits that cryptocurrencies offer. He also is optimistic about their future and its usefulness to people.
Smart Contracts And Cryptocurrencies – What’s Next In Eyes Of Jamie Foxx?
Technology for smart contracts and cryptocurrencies are being explored continuously. This technology is set to revolutionize how people interact with each other and also with their own bodies. It will enable people to make transactions anywhere in the world, anytime, from anywhere.
Jamie Foxx, in a TV interview, said that “Cryptocurrency is going to be the backbone of commerce, I mean everything is going to be on cryptocurrency”.
Cryptocurrencies could also serve as a better alternative to the current banking system. Jamie Foxx expressed his hope that cryptocurrency will become the way people pay their bills and bills. He also expects this technology to make payment easier and faster so that people can spend more time doing what they love.
Jamie Foxx has stated that “Bitcoin if it’s implemented right, could really define a whole new industry”. He further believes that cryptocurrencies could help solve current issues such as financial inequality, corruption, and poverty.
Is Jamie Foxx An Investor Or a Trader?
Jamie Foxx has never been labeled as an investor but it is believed that he holds some amount of cryptocurrency. He also revealed that he buys and sells coins in his personal portfolio and also invests in several ICOs. Anyone can buy cryptocurrencies using their bank account or credit card at any point in time. Cryptocurrencies are highly volatile as they fluctuate from day to day depending on demand and supply (supply means the number of coins available for trading). Since there is a limited amount of Bitcoin, the price of Bitcoin can change quite drastically. The volatility of cryptocurrency is one of the reasons why there is a high demand for cryptocurrencies.
Jamie Foxx’s Cryptocurrency Pains
Jamie Foxx has admitted that he has had to learn about cryptocurrency initially, but now he is familiar with it and uses it regularly. He revealed that the main cause of frustration in him when trading Bitcoin at that time was due to market volatility. Jamie Foxx said that he was unable to predict whether Bitcoin will go up or down in price and it resulted in losses as he was not ready to take risks. He also stated that if you hold cryptocurrencies, you should always know what your Plan A and Plan B are, which are ways of getting out if the situation goes wrong.
Jamie Foxx started a short-term trading plan in 2018 to invest in cryptocurrency. He has mentioned that he plans to keep 10% in his portfolio for 3 months and then the rest for the rest of the year.
The interview of Jamie Foxx with CNBCCrypto anchors was aired on 7th November 2017 and it was introduced by Christine Tan from Coinspeaker. Foxx’s interview was featured on Coinbase Blog, among other outlets. At the end of the interview, Jamie stated how much he loves Coincobot and also mentioned that United States institutions don’t want to deal with cryptos because it is too much difficult as they do not want to deal with an unknown currency and something that puts them at risk.
What Should You Learn From Jamie Foxx’s Crypto Journey?
Jamie Foxx, being an actor and all in the early days of his career, started from a very low position. Through hard work and determination, he has climbed up the ladder of success. Following this route can be a great lesson to all of you who believe in Bitcoin and cryptocurrency.
However, the journey to success is never smooth and effortless. There are many ups and downs along the way but it is worth the effort as the result is worth it.
The fact that he has been investing in cryptocurrencies since September 2017 is an indication that Jamie Foxx holds Bitcoin or other cryptocurrencies for quite some time now.
Jamie Foxx’s Advice for Beginners
- Bitcoin could give you a headache. It is not for the faint-hearted and can be quite frustrating if you are not ready to lose money and accept the risk of investing in it.
- If you are planning to invest in Bitcoin or other cryptocurrencies, do not rush into it without understanding the basics of cryptocurrency first. If you are a beginner, learn to trade using Bitcoin or other cryptocurrencies as your medium currency.
· Before buying any Bitcoin or other cryptocurrencies, have a clear plan on where to keep them safe and how many would you keep in your possession? Many people have lost their savings due to hackers and exchange failures so be aware of this possibility.