not checked

Chico Crypto

Basic information

Exchanges
binance
Website link
www.youtube.com
Telegram link
@chicocrypto1
Bots
no
Auto Trading
no
Live Trading
no
Margin Tradings
no
Trust Management
no
Number of users
3470
Status
not checked
Support languages

Chico Crypto Audit

Who Is Chico Crypto?

Chico Crypto is a rather popular YouTube channel on cryptocurrency and trading. Their videos can be useful not only for beginners but also for those, who have prior trading experience. Apart from a YouTube channel, there is also a Chico Crypto Telegram group but it’s mostly for communication between subscribers. There admin of the channel simply posts news when a new video on Crypto Chico YouTube channel will be uploaded.

 

Who is The Owner of Chico Crypto?

Chico Crypto is owned by Tyler Swope – a rather interesting personality, who stands out from the rest. For example, every Crypto Chico video begins with opening a bottle of beer, which remains on the table throughout the video. Tyler is sure that trading should be relaxed and comfortable and tries to teach subscribers the same. To master the art of trading, you need to put all the irrelevant thoughts aside and concentrate on what the expert has to say.

As you may notice, Tyler is not only a crypto expert but also has a passion for writing, editing, and making video clips. So there’s no need to worry that Chico Crypto videos will be boring.

Before starting a Chicocrypto channel, Tyler has mastered the art of trading – has grown an impressive portfolio investing in Ethereum, ARK, NEO, Ripple, and other currencies. Tyler is sure that the blockchain technology is intertwining with our everyday lives and he’s willing to teach everyone at Chico Crypto.

 

Youtube

New Chicocrypto videos are uploaded every day at 11:00 PST, the only exception is weekdays when videos may land at another time. All the videos Crypto Chico publish are concise and clear, and don’t take too much time – one video is around 10 minutes long.

Chico Crypto Youtube channel gives instructions on altcoins, provides pros and cons of different trading aspects, and doesn’t take hours of your precious time. Chicocrypto offers free assistance and support via the YouTube channel, and these consultations can be applied both by beginners and experienced traders.

 

Bitcoin Lies By Chico Crypto

Crypto Chico is one of the channels that try to dispel the most common myths from the world of Bitcoin trading. For example:

Myth Number One: Bitcoin doesn’t have any value and is nothing but a bubble that will eventually deflate.

Opponents of Bitcoin draw a parallel with tulip mania, which resulted in a complete depreciation of tulips. One of the most popular supporters of this myth is Warren Buffett. It was Warren, who also said that Bitcoin is a ‘rat poison squared’ and that BTC possesses only the illusion of value.

As you can get from Chico Cryto videos and other sources, Buffet is seriously mistaken about the value of Bitcoin. In other words, Bitcoin possesses serious value because its owners can conduct a huge number of transactions within a globally distributed system with a chronologically tagged repository.

There is no other system like Bitcoin that possesses such a high integration level. And the explanation of this fact can also be found in Chico Crypto videos.

In simpler words, Bitcoin is a transaction accounting system. A network built around data storage is of great value that can easily be seen. For example, it gives users a chance to pay for services, creating off-chain solutions, mining, etc. Would such companies as Microsoft, Fidelity, AWS, and NYSE participate in the development of this network if it was nothing but a financial pyramid? And we couldn’t agree with Chico Crypto more!

Myth Number Two: Bitcoin is used in criminal activities and illegal transactions

This one is a rather old myth but many people still believe it. It routes back to the Silk Road – a platform with illegal goods and services (even though there were rather lawful lots as well).

As Chico Crypto also noticed, this myth has already been refuted by Chainalysis. Despite the fact that the number of Bitcoin investments in the darknet grew until 2018, the percentage of its usage in illegal transactions (the yellow line) has decreased significantly. At the moment, the percentage of BTC usage in illegal operations makes up only 1%!

But still, there is no better way to conduct illegal deals than to use cash! When you pay with cash, the seller won’t have problems with further purchases, and no one will be able to trace it.

In one of Harvard researches in 2016, it was found that a large cash is actively used by criminals and it should be gotten rid of. In addition, the UK government has published an annual report on money laundering and terrorist financing. It claims that digital currencies have a low potential risk of being used for laundering compared to cash and banks. And that is another myth dispelled by Chicocrypto and other experts.

 Myth Number Three: Bitcoin requires a lot of electricity, which is harmful to the environment.

In order to maintain network security, the PoW algorithm is used, which requires lots of computing power and electricity. According to the calculations, miners across the world consume at least 2,55 GW of electricity every day, which equals a minimum of 22 TB a year.

According to estimates, the daily global consumption of electricity by miners is at least 2.55 GW, which means consumption of at least 22 TV per year. However, followers of this myth will hardly tell you that the biggest part of consumed electricity comes from renewable sources.

Considering that electricity is the main cost item for miners, it’s obvious that they are also interested in reducing consumption. And that is the third myth, which is successfully analyzed and disproved by Chico Crypto and other trading experts.

 

Conclusion

Unfortunately, this Crypto Chico review doesn’t mean that we can recommend Chicocrypto.

We tried to contact the channel’s admin but never heard back from him. It was a real disappointment because we liked the channel and the information discussed. At Safetrading.today we try to shield subscribers from such channels as Chico Crypto, which don’t think that users are worth answering.

Luckily, on our platform you can find reliable traders that we can recommend with a clear conscience: all of them are audited, checked, and get in touch easily in case any questions arise. We will continue informing you about all of the best trading providers on the Internet!


 

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