What is Cryptocurrency: Everything You Need To Know [Ultimate Guide]

1. What is CryptoCurrency, Bitcoin and Altcoins?

A cryptocurrency is a digital or virtual currency designed to work as a medium of exchange. It uses cryptography to secure and verify transactions as well as to control the creation of new units of a particular cryptocurrency. Essentially, cryptocurrencies are limited entries in a database that no one can change unless specific conditions are fulfilled.

Basically what I did is went to google and typed in what is cyrptocurrency? Then read some articles, watched some YouTube videos until I had a pretty good understanding.

2. How much can you make from Trading or Mining Cryptocurrency?

Well, from my experience obviously it can be very profitable! But from what I have read, cryptocurrency has been the single most largest transfer of wealth the world has ever seen! Meaning people that started trading or mining that were poor our now probably close to millionaires. If you would like to watch some inspiring videos about cryptocurrency millionaires go to YouTube!

Here is a link to one youtubers channel that does cryptocurrency trading and has made a ton! https://www.youtube.com/channel/UCmA06PHZc6O–2Yw4Vt4Wug 

3. How to Get started Trading Cryptocurrency?

Well read my next article “How to Start Trading or Buying CryptoCurrency” just click HERE

 

 

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How to Start Trading or Buying CryptoCurrency

Step 1: Purchase Your BTC, ETH or LTC:

Coinbase: Go to Coinbase.com create an account, and add a payment method. Then buy BTC, ETH or LTC. FYI, if you spend over $100 dollars while using my link you will get a $10 bonus! Next, go to your Accounts tab and click send. Send your coins to your Binance address.

LocalBitcoins: Go to Localbitcoins and create an account and purchase your BTC, ETH or LTC. After buying your coins move them to Binance with your coin address.

Paxful Purchase Method: Paxful supports 300 plus payment methods, like debit or credit card, gift cards, amazon payments, paypal etc. Go “Here”, Create an account, purchase your BTC, ETH or LTC, move it to Binance.

Step 2: Create a Binance Exchange Account:

Click “Here” to go make your Binance Exchange account “If you use my link you will get a $10 Bonus”. After creating your account go to Funds > Deposits Withdrawals, Click Deposit on either BTC, ETH, LTC and grab your Coins deposit address. Next, go to your wallet website or where you purchased your BTC, ETH or LTC then use your Binance wallet address to send your coins over to Binance.

Step 3: CryptoCurrency Trading Tips:

First, go do some research and watch Youtube videos on how to read candle stick charts, and how to use Bollinger bands and StockRSI to predict price movement. You will also need to look up the words Moving Average, RSI, and volume and how all these pertain to trading.

Some great tools/websites I use in Crypto Trading:

  1. https://coinmarketcap.com/ Is used to look up Crypto coins/tokens and information about them; like the coins Marketcap, Price, Circulating Supply etc.
  2. https://coinmarketcal.com/ Is used to look up events a coin may have coming up in the future.
  3. https://www.coinigy.com/ Is a multifaceted platform used for a lot of things. I personally use it to draw on charts and do technical analysis.
  4. https://www.tradingview.com/ Is used for paper trading but has recently added crypto, so now you can draw on charts and do technical analysis

Great CryptoCurrencies to Invest in:  Ripple, ADA, XLM, XVG, TRX, GVT, SUB, NEO, LTC, ETH, LEND, BCPT, ARN, NEBL, POE, FUEl, FUEL, ENJ, FUN