Answer: Over $10 million a day!

• What do you think is safer? Bitcoin or physical currency? 
• Would you ever invest in bitcoin or another cryptocurrency? Why or why not? 
• Many people believe that bitcoin and other cryptocurrencies represent the future of money. Do you believe them? 

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (TechCrunch): 

"In the world of cryptocurrency, there are no guarantees. Unlike the traditional banking world, there is no equivalent to the Federal Deposit Insurance Corporation to cover any losses on your account. If your assets are stolen, you’re out of luck.

Enabling secure access to these cryptocurrency assets is absolutely critical to preventing theft — which, as of the end of 2020, amounted to just over $10 million a day — and/or lockout of one’s potential fortune.

But how can you ensure that people can always access their accounts? That depends on how the accounts are set up initially — which usually means that passwords or other knowledge-based authentication (KBA) is involved. Unfortunately, passwords simply aren’t suitable for securing high-value accounts because they can be easily compromised, either through phishing attacks or outright theft."

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To learn more about Bitcoin, complete the NGPF On-Demand: Basics of Bitcoin

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About the Author

Mason Butts

After graduating from UCLA with a Master's in Education, Mason spent 5 years as a science educator in a South Los Angeles public high school. He is committed to supporting the holistic growth of all students and empowering them to live a life of relational, academic, and financial success. Now settled in the Bay Area, Mason enjoys facilitating professional developments and partnering with educators as they prepare students for a bright financial future. When Mason is not building curriculum or planning a training, he can be found cycling, trying new foods, and exploring the outdoors.