My Simple Crytocurrency Starter Guide

in #bitcoin4 years ago (edited)

What is Cryptocurrency (Bitcoin, Ethereum, Litecoin, and many, many other)?

Here is a simple info-graphic video from 2011(Then Bitcoin was just $1, if you invested a $100 you would be a millionaire today).

Vice News Documentary on Bitcoin & Mining


Blockchain 101 : (it's pretty simple)
a great overview of the underlying technology
Tim Ferris Pod-cast – http://tim.blog/2017/06/04/nick-szabo/

Where / How do you Buy Cryprocurrency?

Coin Base: https://www.coinbase.com/
Gemini:https://gemini.com/
Others: Kraken, Craigslist, Local Bitcoin, etc

How do you Store Cryptocurrency?

  • Exchange where you bought it, but this is Risky! (If the exchange goes down, so do your cryotos)
  • In a Paper or Digital Wallet, but Understand the Basics: A Public Key is used for Deposits & Privet Key is used for Withdrawals, DO NOT SHARE YOUR PRIVATE KEY!
  • Bitcoin Paper Wallet:https://www.bitaddress.org/
  • Ethereum & ERC20 Token Digital Wallet:https://www.myetherwallet.com/
  • Ideally store both on a Hardware Wallet, I use the Leger Nano S https://www.ledgerwallet.com/r/9c78

How do I know When it is a Good Time to Buy or Sell Cryptocurrency?

  • Follow “Experts” on YouTube, here is my current list (no particular order, just find someone who resonates with you:
    Cliff High :


Ameer Rosic:

David Hay:https://www.youtube.com/user/DavidHaydotOrg
IVAN on Tech:https://www.youtube.com/channel/UCrYmtJBtLdtm2ov84ulV-yg
Crypt0:https://www.youtube.com/channel/UCdUSSt-IEUg2eq46rD7lu_g
jsnip4:https://www.youtube.com/channel/UCx40BzxnECFN6TpwR84zyfg
Crypto Blood: https://www.youtube.com/channel/UC1QFCL4wEDaAdfXQxDMgr7Q
BTC Sessions:https://www.youtube.com/channel/UChzLnWVsl3puKQwc5PoO6Zg
Scrembo:https://www.youtube.com/channel/UCFRLkad3FXOJ5pyziEgDSTg

  • Follow Cryptocurrency News

  • CoinDesk: https://www.coindesk.com/

  • How do I Spend Cryptocurrency?

    How do I Trade Currency?

    Open a trading account:

    Have a Plan

    • When to Buy, only you can decide
    • When & How to Sell, Ideally have multiple exchanges, when volume picks up some exchanges can go offline, and that another reason to use a harware wallet, such as the Leger Nano S https://www.ledgerwallet.com/r/9c78
    Sort:  

    thank you for sharing valuable information.