What Is a Crypto Currency?
Cryptocurrencies are Digital currency (digital Coins) which are created and processed on a Blockchain Technology (One-way database).
What is a Blockchain?
Blockchain is a One-way Decentralized Ledger(oneway Database = not reversible database) which is stored in a network of Servers and computers distributed around the world without a central controlling Server. Each Server and Computer (node) stores every transaction that is processed on the Blockchain. Blockchain Technology allow each Crypto currency coin to be divided into smaller units called satoshes, litoshes, … (similar to dividing Fiat Currency into Cents or 10 cents or 50 cents) which can be used to pay different people or businesses, buy products or services, pay school fees…
Blockchain also allow these small cryptocurrency units (cents) to be grouped or added together to reform a single coin or multiple crypto coins (similar to adding 10cent + 40cents + 50cents to form an equivalent of a single Rand or Dollar or pound or Euro or yen or Peso …)
CryptoCurrency History
Cryptography comes as far back as the world war, when the German Army was encrypting messages. Cryptography moved from Paper to Telegraphs to Computers .
As far back as the 1980s people(Cryptographers) have been trying to create Digital Coins (Crypto currency – Encrypted Digital money) but fell short on two technology features (1) Dividing the Crypto coin into smaller units and adding those small units from multiple transaction into a single or multiple full coins. (2)Prevent double spending of the same more than once (paying two people the same coin or the copy of the same coin). This is where Blockchain Technology comes in and solves both these two problems with modern Cryptocurrency such as Bitcoin and Altcoins. Blockchain Technology goes beyond cryptocurrency into Smart Contracts introduced by the Blockchain Technology behind Ethereum.
CRYPTOCURRENCY LIST
Bitcoin, litecoin, Dogecoin, Zcash, Monero, Ethereum…
Check out these websites for a list of more Cryptocurrencies
Eobot ……
Coin Market Cap
WHERE TO BUY CRYPTOs
1. LUNO Rewards code: DX4Q92
2. COINBASE $10 Rewards
3. BINANCE 10% Rewards code: IO1RC7MH
4. CHANGELY
5. CRYPTO.COM APP $50 Rewards code: jn56ewu489
6. VALR
7. CELSIUS APP Earn INTEREST on Crypto and Stablecoins.
Enter Celsius $20 Referral Rewards Code : 190126a85e
WHERE TO STORE(KEEP) CRYPTOCURRENCY?
Cryptocurrencies are stored in wallets or at a Cryptocurrency Exchange. (1) There are Wallets that you can Download and install on a Desktop or Notebooks and some wallets are apps that are installed on Mobile devices. (2) There are online wallets that keep your Cryptocurrency at an Exchange. (3)There are Offline Hard wallets(Physical USB wallets) which keep your cryptocurrency away from an internet connected Device.
WALLET LIST
1.Desktop Wallets
2.Apps Wallets
Wirex app
Luno app
3.Online Wallets
4.Hard Wallets
Ledger nano x
CRYPTOCURRENCY TRADING
Cryptocurrency pairs can be traded similar to trading Fiat Currency pairs(commonly known as Forex Trading: EUR/USD, GBP/USD, GBP/ZAR, USD/JPY)
Cryptocurrency pairs are : LTC/BTC, BTC/DOGE, XRP/BTC, ZEC/BTC, DASH/BTC, XMR/BTC, ETH/BTC, BCH/BTC … more CEX and HitBtc
There are also Crypto/Fiat Currency pairs (Bitcoin/Dollar) : BTC/ZAR, BTC/USD, XMR/ZAR, XRP/USD, XLM/USD, ETH/EUR, BCH/USD
And there are Cryptos/Stable Coin(TetherUSD): BTC/USDT, BCH/USDT
1.You can Auto Trade Cryptocurrency pairs with Bin Bot Pro Robots.
Here is a list of Cryptocurrency Robots inside Bin Bot Pro Auto Trading Robot:-
(i) Ichimoku Crypto v2
(ii) Crypto ADX 2.0
(iii) RSIMA Cross
(iv) xProfit
2.Etoro
3. You can trade crypto currency pairs at an Exchange
(i) Luno
(ii) Crypto.com app
(iii)Valr
(iv)Binance
(v) Coinbase
If you already know and understand Forex Trading (Fiat Currency Trading), it will be easy to learn and understand Cryptocurrency Trading...
If you are new to trading, it might be good to Trade Cryptocurrencies with Auto Trading Robots such as Bin Bot Pro Robots...
You can Trade Cryptocurrency when the value of the crypto goes(bullish / long) and when it goes down(bear / shorting)...
CRYPTOCURRENCY INVESTMENT
Cryptocurrency Investing can be done in two ways:
(1) Buy low and Sell High which is known as speculating on the growth of value of a Cryptocurrency.It can be on short term bases like: weekly or couple of months as the crypto prices flutuate. And it can also be on long term bases; buy and store Cryptocurrency for a long term: year or more (Decades)
Invested in Crypto Investment Companies where cryptos will compound by intrest(gain intrest) Some Crypto Investment Companies will give you a loan against your Cryptocurrency(keep in as Security - similar to taking a fiat currency loan and use your car or house as Security) while your cryptocurrency keep compounding with intrest.
(2) Investing In ICO or STO
Another way of investing in Cryptocurrencies, is investing in ICO(Initial Coin Offering) which is similar to IPO(Initial Public Offering)in the fiat world of investing in Company Stock for the first time.(Stock make available for the first time).eg Facebook IPO, Google IPO, Overstock.com IPO...
It is good and being responsible to do due diligent before you invest in an ICO, to avoid scams.
STO (Security Token Offering[Security Coin Offering]) are now taking over ICO because of the problems that came with ICOs and Regulations which are being put in place to help combat ICO scams problem. You find out more about "Security Tokens" by visiting this link What are Security Tokens? https://blockgeeks.com/guides/security-tokens/
You can also check Cryptocurrency and Security Token Regulations from the East (The State Of Security Token Regulation In Asia https://www.coindesk.com/the-state-of-security-token-regulations-in-asia) and West ( U.S. Securities and Exchange Commission (SEC) - Video on CNBC) which some are still under development...
Be a wise Investor by learning first before you invest your hard earned money into ICOs or STOs or Cryptocurrency...
1. What is bitcoin?
2. How to buy Bitcoin?
3. What are Cryptocurrencies?
4. Crypto.com MCO Coin Value : updated to CRO
5. Celsius Network Crypto Interest
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