El Paso

El Paso hosts first Cryptocurrency Conference

El Paso hosts first Cryptocurrency Conference

EL PASO, Texas - It's been described as money of the future.

Dozens gathered at the El Paso Convention Center on Saturday to learn more about investing in cryptocurrency.

It's a form of digital money, that uses cryptography for security. The most well known form of crpytocurrency is Bitcoin, which originated in 2009.

"I think it's honestly the future when it comes to transacting globally," conference speaker Paul Ward said. "The idea is that if you get in now on the ground floor in this new technology, you can either make decent money, just a little bit of extra money. Either way, it's an opportunity to become educated because I feel blockchain technology is here to stay."

There was a conference specifically for beginners and one for advanced cryptocurrency users. The cost to attend each conference was $30.

"I have heard about it for many, many years and i had not been able to get involved. I don’t want to go to my grave saying "I wish I could’ve, I wanted to and I just didn’t have the guts,'" participant Rosa Lopez said "I want to step up and learn all I can.”

The price of Bitcoin peaked at around $19,000 in December of 2017. It has since declined -- valued at just over $9,000 on Saturday.

"I've seen bitcoin go from $1200 to $200 and people were scared. I mean there's stories out there of people selling bitcoin for less than $20 because they thought it would never go up again," Ward said. "It comes with the volatility, that comes with cryptocurrencies. I show people how they can take advantage of that volatility and they can make money considering that it moves so fast."

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