What is cryptocurrency?
It is digital money with specific address (Some sort of username and password) that you touch but it has a value based it against USD.
What currency available on cryptocurrency?
There are a lot of type currency and the top leading at the moment such as Bitcoin, Dash, Zcash, Ethereum and etc. Today 11.5.2017, the 1 bitcoin has reached up to USD 1756. I remember back in 2013, 1 bitcoin (BTC) is around below USD 100.
Each of the cryptocurrency has its own value daily. You can view it on http://coincap.io/ or coinmarketcap.com. Both are good website to analyse which cryptocurrency(CC) should be invested.
By this time, you must be excited to invest on CC.
However, buying a CC is not that easy. Before you buy this cryptocurrency, you got get your wallet.
The wallet sometimes it is depending on what type of currency it will hold.
Below is the list you can have a look with my referral. Its free and u can have a look at the interface whether it is suitable for you.
Be careful which wallet, understand the risk storing it online. Some of the user prefer store it offline printing the bitcoin address to people.
You can try https://www.coinbase.com/join/59021be6a4636b10af4a4ddd or
https://bitconnect.co/?ref=holydevil (You can have a look at this too, new rising from the chart)
https://bit.ac/?ref=590a70db96970
I want to try to MINE some bitcoin or other CC.
Well you can mine by yourself. However, you got to understand on the CC itself,
For example, the bitcoin (BTC) running on algorithm SHA256. It’s wise to calculate the machine like An ASIC (application-specific integrated circuit) Antminer S9 hardware costs, electricity costs and maintenance at http://www.coinwarz.com/cryptocurrency . It will show your estimated ROI. Also, each ASIC mostly can run on one algorithm. If you want to mine DASH you got to use X11 algorithm like baikalminer.com.
On the other hand, you could try online cloud mining.
I tried on genesis mining on Bitcoin but u got to allocate the mining which coin are suitable at the time. My theory was, mine the lowest CC and hope it reach it peak one day. It’s up to you, give it a try. It pays your CC daily to your wallet.
(Get Bitcoin payments every single day. Use the code UARyZb and get 3% every time you purchase hashpower to mine Bitcoin DASH and a ton of other Cryptocurrencies at https://www.genesis-mining.com/a/797550. )
Trading CC
You could trade the CC based on your experience or analytical analysis and current speculation. There are few sites u can trade, but honestly, I haven’t tried it yet. Maybe I’ll cover this on the next episode.
Where to buy Bitcoin? and Why bitcoin?
Well u can buy bitcoin at your local places, just google and search for reputable seller. You can use the bitcoin to buy and sell it for another CC (eg, BTC to DASH or LTC). It’s like you bring US dollar to spend on any country.
What’s my advice?
Well invest on the money you willing to lose or gamble. Remember the market of CC is very volatile. Never ever invest your life saving into this unless u willing to lose everything or earn everything.
Also, I have seen a lot “MLM” multilevel marketing using BTC to scam their users. Pity them… better buy it for yourself or mining it and keep into your own wallet.
Hopefully I cover all basic summary about CC.
Good article, with the exception of earning for my light box project, I'm really wanting to put everything I earn here into bitcoin. That's all I can do as of now since I am a newbie. I'll be searching for posts to get that transfer part down so I don't screw up.