I want to show at least 100 people every month how to independently find their way around the cryptocurrency industry and rake in serious cash. If you are here, you can be sure that 2018 will make a remarkable difference in your life.
I will be starting from the basics so, if you are already a pro please just take it easy and allow the newbies to catch up till we get to the point that will benefit you.
I will be dropping the lessons please just take your time to read through each section and digest put down your questions and ask after I am done because most questions will be answered before I round up
This Section will be divided into 4
What Cryptocurrency is all about
Bitcoin what gives itValue and its Characteristics
How you and I can gain out of it!!!!
One would wonder what is even this CRYPTO currency all about??
Crypto currency in a layman's term is a digital currency You can't feel or touch it like fiat currency(paper money)
Over decades, money has gone through evolution technology has changed alot of things.
Many years ago, if you have a message for someone who is living in a distance, like another town, state or even Street, you will have to travel down to see the person without even notifying the person. But thank God for technology, it started with writing letters to friends and loved once. We had different post offices around the world, which enables you to send letters to different places.
But over time, this also has changed with the evolution of Email and telephone calls With your phone or email, you could get what ever information online or from someone in another state, town, country etc.
All this are possible through the internet to stop all these, you must have to stop the internet Which is not possible!!!
This evolution has also taken place in the world of money,
Initially people do trade by batter, you give me yam in exchange for another food maybe Rice or beans etc
And it moved on to the use of cowries from cowries to coins and from coins to paper money (fiat) to credit and debit cards which is currently being used till this day.
But here comes another change in money It's called CRYPTO CURRENCY which I explained earlier that it's a digital money
We have different digital currencies, but the first among them is BITCOIN
*WHAT IS BITCOIN??*
Bitcoin is simply a digital currency otherwise known as cryptocurrency, it is created and held electonically, no one controls the process of bitcoin creation, millions of computers around the world runs a software that uses a mathematical algorith to control this process by following some specific rules that cannot be tampared with by anyone.
You will ask HOW DOES BITCOIN HAVE VALUE?? What is it Based On??
Bitcoins do not have value as a physical commodity like gold and are not widely accepted as legal tender like dollars. ... In short, people accept and trade in Bitcoin because other people accept and trade in Bitcoin. It is recognized and accepted as a currency by many.
Conventional currency has been based on gold or silver. Theoretically, you knew that if you handed over a dollar at the bank, you could get some gold back (although this didn’t actually work in practice). But bitcoin isn’t based on gold; it’s based on mathematics.
THEREFORE BITCOIN IS DEPENDENT ON DEMAND AND NOT SUPPLY.
CO'S THE TOTAL SUPPLY IS 21MILLION WHICH MAKES THE SUPPLY OF BITCOIN FIXED AND THE DEMAND RAPIDLY GROWING.
WITH THIS, BITCOIN BECOMES VERY VALUABLE AS MORE COMPANIES, COUNTRIES, INDIVIDUALS ADOPT AND ACCEPT ItSo What are the BITCOIN CHARACTERISTICS ?*
- It's decentralized
The bitcoin network isn’t controlled by one central authority. Every machine that mines bitcoin and processes transactions makes up a part of the network, and the machines work together. That means that, in theory, one central authority can’t thinker with monetary policy and cause a meltdown – or simply decide to take people’s bitcoins away from them, as the Central European Bank decided to do in Cyprus in early 2013.
2. It's easy to set up within seconds you can own a Bitcoin Account or Wallet. - It's anonymous
4. It's completely transparent
…bitcoin stores details of every single transaction that ever happened in the network in a huge version of a general ledger, called the blockchain. The blockchain tells all.
If you have a publicly used bitcoin address, anyone can tell how many bitcoins are stored at that address. They just don’t know that it’s yours.
Transaction fees are miniscule
Your bank may charge you a £10 fee for international transfers. Bitcoin doesn’t.It’s fast
You can send money anywhere and it will arrive minutes later, as soon as the bitcoin network processes the payment.It’s non-refundable
When your bitcoins are sent, there’s no getting them back, unless the recipient returns them to you. They’re gone forever.
OK so before I proceed for all those who don't have a Bitcoin wallet yet kindly follow this link to open a new one!!!
Or even if you have a blockchain wallet already I recommend you use this link to open a Coin base Wallet !!!
Having laid a foundation of what cryptocurrency is and the characteristics of Bitcoin, and getting a Bitcoin wallet.
I will like to share with you how you can buy Bitcoin by yourself from your bank account with your Master or Visa card
Because the first step to succeeding with cryptocurrency is being able to acquire it when you want it and also easily converting it to cash when you want to spend it
I will talk of the simplest way to do this which is luno
[Simply go to
www.tinyurl.com/luno4me
And create a LUNO account for your self. now
If you already have a LUNO account just relax let's carry every body along.
Please this section is very practical so I will give you two minutes to create your LUNO account and get ready to fund it and get yourself some Bitcoin right away.
So login to your LUNO account and click verification then add your phone number and bvn. Once you are verified, you will be able to deposit and withdraw a total of N200,000
For you to be able to do any further transactions beyond this amount, you need to upgrade your verification and to upgrade your verification,
Login and click on settings then click on upgrade,
You will have to upload a nationally recognized ID card
Such as DRIVERS LICENSE, VOTERS CARD, NATIONAL ID CARD or INTERNATIONAL PASSPORT.
Any of them will do
Even if you don't catch now you can always follow the instructions here do it yourself. That's the essence of this training OK.
The ID card verification is the second level verification.
The last level is the Bank statement of account verification
If you have your bank statement handy you can also upload it.
By going to settings and clicking on upload another document
Or you can always do it any time you can get it.
If you have attained any of the verification levels. Even if it's level one, you will see DEPOSIT MONEY
Now you are ready to buy Bitcoin but you have to first deposit money from your bank account to your LUNO account using your ATM card.
So click on DEPOSIT MONEY
Despite the fact that Bitcoin price is high, you can actually buy as little as N300 worth.
Select debit or credit card with PayU
Type in the amount you want to send there
The minimum of 500 Click next
You will see their charges. For N500 you will be charged N7 Meaning you will receive a balance of N493
Click on CONTINUE TO PAYU
A new page will open
Type in the card number of your ATM card.
The 16 digit number
Type the name on your ATM
Then select the expiry date
Then finally the CVV number
The three digits number on the reverse side of your ATM card
After that click pay.A new page will load Select receive OTP if you don't have a token. If you have a token, You can select Hardware Token
Then select Please check this box to indicate........... Then finally click on submit After this, a code will be sent to your phone if you selected OTP
Type it into the space
And submit.
If you selected Hard Token simply press your token and type in the generated code and submit. If successful you will get a message of congratulations If not successful, you will get an error message.
If this happens, it means you delayed too much. All you have to do is to scroll up this training and follow up step by step and let us know you have successfully moved money from your bank account to your LUNO account.
The last thing we will be discussing is using the money you have deposited to your LUNO account to buy Bitcoin.
In order to buy Bitcoin with the money you have deposited into your LUNO account, just click on Buy
Then a new page will show as displayed below
Select with Naira
The next page will show
Type in the amount you have or the amount you want to use.
And you will see the value of Bitcoin you are paying for displayed..
Click on the red arrow
A new page will show for you to enter your four digit pin.
Enter it and you are done.
Well congratulations. If you followed the instructions, you must have successfully deposited cash from your bank account to your LUNO account and also converted that fiat currency to Bitcoin.
I wanted to make sure I covered this within an hour and graciously, we did it.
Now I can take your questions.
Thank you for your time.
Beautiful Post! keep it up
Thanks bro. Hope you enjoyed reading it
Just wanted to comment and tell you how awesome this post is!
I've been sharing knowledge, encouraging passion, promoting peaceful anarchism, and introducing people to cryptos using my snapchat @howtobitcoin
I use another app called ghostcodes to find talented, artistic, and entrepreneurial people from all over the world which I add and introduce to many new concepts. I share steem articles with links on my snaps to get people interested and up to date on how voting/curation/etc works... I also teach people how to incorporate cryptos into their lives by teaching them which apps/tools are useful and trustworthy to use.
I will most certainly screenshot and link to this post from my snapchat channel!
Thanks for the compliment.
Yes. Good lecture. Thanks for sharing!
Thank you so much for this post. It was really helpful. I like the fact that it was very simple and easy to understand because I am a total novice in the cryptocurrency world. I have tons of questions and my first question is