This is the second edition of George M. Protonotarios' 'Cryptocurrency Trading Guide,' a financial analyst and crypto enthusiast.
Cryptocurrencies have changed the rules of the global financial game since 2009.
A decade ago, the financial industry could only dream about issuing, exchanging, and using digital money without the intervention of a centralized entity.
That dream came true more quickly than anyone could have imagined.
The internet's widespread use acts as a catalyst for the acceptance of any new technology that tries to meet people's changing requirements.
Nothing else matters if the ultimate purpose of any technology is to better address the needs of humans.
Cryptocurrencies can help achieve this goal by allowing for quick and low-cost payments all over the world, as well as enabling security, scalability, and programability through the usage of Blockchain technology.
Actually, cryptocurrencies are simply the tip of the iceberg when it comes to Blockchain technology applications.
Cryptography, Decentralized Apps, Smart Contracts, Smart Assets, Atomic Swaps, and other digital technologies are here to stay, and they have the potential to transform our financial world for the better.
The banking industry's decentralization and the global economy's tokenization appear to be unavoidable.
Many scholars see the crypto business as a bubble about to burst, teaching everyone engaged a valuable lesson.
These professors simply do not comprehend the scale of the financial revolution that encryption and Blockchain are bringing about.
It shouldn't matter if Bitcoin's price drops from $20,000 to $3,000 and then back to $20,000 again.
What matters is the groundbreaking technology that underpins the cryptocurrency economy.
However, from the perspective of a trader, price counts, and this eBook contains a wealth of materials and recommendations to assist traders in understanding the cryptocurrency market's behavior and explaining the significant changes in bitcoin asset prices.
Overall, the goal of this book is to develop cryptocurrency thinkers who:
(a) pick investments based on fundamental analysis;
(b) enter trades using technical analysis and real-time price action.
(c) determine how much to trade simply on the basis of money management.
When trading any financial market, emotionless decision-making is essential for success.
CRYPTOCURRENCIES: AN INTRODUCTION
Fundamental ideas
Cryptocurrency principles at a high level.
Additional themes are covered in the APPENDIX of this book in the form of Frequently Asked Questions (FAQ).
The blockchain
The Blockchain is an open-source decentralized system that uses a public ledger to verify and record all transactions.
The Blockchain generates a new block after a particular amount of transactions have been completed.
A block is a database record that contains information about the current transaction as well as all previous transactions.
ChangedEach Blockchain process is carried out by a network of millions of community computers, each of which keeps a copy of the blockchain's data.
A block becomes a permanent link in the Blockchain only if all copies agree.
Altcoins and forks
All cryptocurrencies that aren't Bitcoin are known as altcoins.
There are about 2,000 cryptocurrency initiatives on the internet in total.
A Bitcoin Fork is a cryptocurrency based on Bitcoin's open-source protocol that has developed its own system, such as Ethereum, Ripple, Waves, and others.
Tokens
Coins and tokens are part of the cryptocurrency ecosystem.
Tokens are digital initiatives that are launched as part of an Initial Coin Offering (ICO) and differ from coins in terms of structure.
Tokens are used to develop decentralized apps on top of a Blockchain.
There are three sorts of tokens, according to FCA UK:
Exchange tokens: these are not backed or issued by any central authority and are designed to be used as a medium of exchange.
They are typically a decen- tralized mechanism for buying and selling products and services without the use of traditional middlemen.
These tokens are frequently found on the outskirts of the perimeter.Security tokens: these are tokens that have specified properties.
They are within the perimeter and fit the criteria of a Specified In- vestment, such as a share or a loan.Utility tokens: these tokens provide holders with access to a current or future product or service, but not with the same rights as those offered by Specified Investments.
Although utility tokens are not Specified Investments, they may (along with other tokens) fulfill the definition of electronic money in some circumstances, in which case activities involving them may fall inside the perimeter.
There's also a third type of token:
1.Hybrid Tokens: These tokens have traits from several different categories.
Stablecoins
Stablecoins are digital currencies that are designed to preserve price stability in relation to a pegged asset (such as the US dollar) or a basket of products ("purchasing power").
Stablecoins are divided into two categories, according to the Cambridge Centre for Alternative Finance:
Asset-backed: backed by an asset (or a portfolio of assets) as collateral.
Algorithmic: smart contract programmed to govern Stablecoin issuance and redemption to balance supply and demand and so limit price volatility.
Thanks for your time,see you soon.
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Solid guide, did you copy/paste it or did you make a brief about what it's talked about in the guide?
By the way @rubyblanks, we noticed that you powered up some LEO tokens in June 15, thanks for joining LPUD and helping the LeoFinance community grow stronger!
Just dropping by to let you know that the second edition is just around the corner, hopefully you'll join once again!
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