NFL All-Pro Richard Sherman Talks Cryptocurrencies, Cobinhood

Way before cryptocurrencies were such a hot topic, NFL cornerback and Stanford University alum Richard Sherman was already using them, even taking bitcoin payments on his mechandise website. In 2014, The Seattle Times pointed out how the All-Pro was taking crypto payments while retail giants like Amazon.com, Inc. AMZN weren’t.

Four years later, Amazon still isn't accepting crypto payments, while Sherman is getting even more involved in the space – making the most of his down time as he recovers from an injury.

“This is one of those things that is cutting-edge,” Sherman told Benzinga Tuesday when asked about his involvement with virtual currencies.

“A centralized virtual currency is something that eventually everybody is going to get on board with,” he added, making it clear his intention is to stay ahead of the curve, while educating people on the potential of cryptocurrencies. “I think people will soon be using cryptocurrencies to buy clothes, cars and houses, and even to pay people’s salaries.”

Cobinhood

Educating the public is one of the reasons why the Seatle Seahawks mainstay was in New York City Tuesday. But the big reason for his numerous appearances was his involvement in COBINHOOD, a platform that claims to be “the World’s first ZERO trading fees cryptocurrencies exchange.”

The Cobinhood app launched for Alphabet Inc GOOGL’s Android devices and Apple Inc. AAPL iOS devices Tuesday, after the company completed a successful ICO and debut its ICO Underwriting Services.

“What I love about Cobinhood is that it does not have the trading fees that other apps have. The platform also works really well,” Sherman said. “This will save a lot of people a lot of money.”

Overcoming The Fear

A large portion of the general population aren't particularly savvy in cryptocurrency topics. With so many ICOs and cryptocurrencies coming and going, it can be difficult to flesh out the good from the bad. People are understandably concerned about cryptocurrencies’ viability.

“There is always risk involved in any investment, especially in alternative investments like cryptocurrencies," Sherman said. "But volatility is normal and expected, just like in the stock market. In order to reduce your risk and increase your potential rewards, you need to do your research, follow trends and register your steps.”

Sherman owns bitcoin, Litecoin, Ethereum and Cobinhood’s token, COB.

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Image credit: Mike Morris (Flickr) [CC BY-SA 2.0], via Wikimedia Commons