The brothers started their own cryptocurrency empire from their mum’s kitchen
One of the brothers, Sam Enrico, has spoken exclusively to Express.co.uk to offer cutting-edge advice on how to tame the notoriously elusive world of cryptocurrency.
Mr Williams, who runs crypto due diligence platform Zloadr.com, said: “There couldn’t be a better time to invest.
“Several coins and tokens have come down in price from peaks in February last year and are just starting to see strong gains again now.”
The crypto businessman argued it was vital to obtain solid advice and conduct due diligence before attempting to invest in cryptocurrency.
He said: “The huge market gains on Bitcoin and Ethereum in February 2018 have stabilised and so if you want to see triple and quadruple-digit gains you need to look at new ICOs (Initial Coin Offerings) which are launching now.
“For example when Populous PPT launched in 2017 it’s starting price was $0.05 (£0.038) and it’s now trading at $3.63 (£2.75) a return of 7,260 percent on the initial investment.”
The south London-based crypto entrepreneur advised using special-purpose due diligence platforms in order to asses which coins are the safest investment as they launch around the world.
The regulation of cryptocurrency is a concern, as the digital assets operate under what Treasury Committee chair Nicky Morgan described as a “wild west” industry.
Steve (left) and Sam Williams outside their Mayfair home
The Financial Conduct Authority (FCA) in the UK has ruled that “crypto assets designed primarily as a means of payment or exchange would not generally sit within the scope of the FCA Authority”.
However, the Securities and Exchange Commission (SEC) plays a key role in crypto market regulation in the US.
But in February 2018 the Chinese government halted trading of virtual currency, banned initial coin offerings and shut down mining.
Bitcoin’s underlying blockchain technology underpins the way cryptocurrency functions and has been touted as an important technology to watch.
Steve (left) and Sam Williams
Blockchain and cryptography expert Toni Nijm told express.co.uk: “What the internet did to data, Blockchain will do to assets.
“Every single thing that has assets or value transfer will be impacted in one way or another.”
Mr Williams explained the unusual concept of blockchain.
He said: “Think of it as a long ledger, just like an accountant’s spreadsheet, only it’s not on paper, it’s in digital code like the green code on the film the Matrix.
“Every event, sale and transaction is registered on the ledger and time-coded.
The brothers made millions in a matter of months
“It’s an open source decentralised system that anyone can view so there’s total transparency and it’s checked by thousands of miners.”
Miners are tech-savvy computer operators who write and confirm data entries onto the blockchain.
They get paid in coins for the work they do, maintaining and adding to the integrity of the blockchain.
Mr Williams revealed there was a certain degree of risk associated with cryptocurrency trading due to the digital commodity’s inherent volatility.
He said: “The crypto market is still extremely volatile so you need to keep an eye on your assets 24/7.
Huge computers can ‘mine’ cryptocurrencies
“The market can be brutal. My brother and I have got some horror stories of friends of ours going to bed a millionaire and waking up a pauper because their holdings tanked overnight.”
When it comes to cryptocurrency, security is everything because you can lose all your profits if you are not careful, Mr Williams argued.
He said: “You must have a hard wallet for your crypto, there are several types (TREZOR, KeepKey, Digital BitBox, Ledger Nano S) and they are the only way to properly secure your investment.
“They plug into any computer via USB and encrypt your login data so that it’s not hackable.
“These digital keys prevent hackers from getting your secret passcode and wallet address.
“If you lose your passcode and are locked out of your account, there is nothing you can do.
“I have a friend who was locked out of his £0.5million wallet, and all he can do now is sit and watch his money being controlled by someone else.”