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Should You Invest in Bitcoin (or Any Other Cryptocurrency)? Bitcoin is all the rage right now, but is it a good investment for you?

By Phil Town

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

In this video, Entrepreneur Network partner Phil Town breaks down one of the most fascinating and popular trends in the financial world right now: cryptocurrency. He starts by defining a cryptocurrency, which is "a digital, encrypted currency designed for the purchase of goods and services online," and by talking about the explosive growth of Bitcoin over the past few years.

Then, Town explains how exactly you can trade cryptocurrency -- it's not so different from exchanging foreign currency -- before getting to the question you really want to know: Should you invest in a cryptocurrency?

Click play to learn his answer.

Related: 5 Signs a Business Is Being Poorly Managed

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Phil Town is an Investment Advisor, Hedge Fund Manager, 2x New York Times Best-Selling Author of Rule #1 & Payback Time, and Ex-Grand Canyon River Rafting Guide. Rule #1 Investing is Warren Buffett style investing, teaching you how to buy businesses on sale, with little risk and 15 percent returns. In fact, Rule #1 investing is practically immune to the ups and downs of the stock market.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

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