Trading and Investing in Cryptocurrencies 101: Simple and Easy-to-Follow Strategies and Techniques to Turn Your Savings Into A Fortune

By Jordan Keizer

Cryptocurrencies are booming and almost everyone has jumped on board to invest with cryptocurrencies in some fashion. So why haven’t you? You do not need to have an elaborate reason as to why you are not investing in cryptocurrency. But, here is the number one reason why you should be investing with cryptocurrency. 

MONEY! 

You can make money with cryptocurrency! And, who doesn't want more money? 

In the book trading and investing in cryptocurrencies 101, you will learn how to make money with cryptocurrency. In each chapter you will gain the advice that you need in order to make a good investment with cryptocurrencies. 

You will learn: 

1. How to create a cryptocurrency wallet 
2. How to get into the mindset of a cryptocurrency trader. 
3. How to trade cryptocurrency 
4. How to mine cryptocurrency 
5. What an ICO is and how to use it 

And so much more! 

Honestly, the longer you wait, the more money you will miss out on with cryptocurrency. And, no one knows what the future holds so there is no telling what is going to happen with cryptocurrencies tomorrow. 

• Language: English
• Publisher: Jordan Keizer
• Release date: Mar 30, 2018
• ISBN: 9781386564874

Book preview

Introduction

Congratulations on downloading Trading and Investing in Cryptocurrencies 101: Simple and Easy to Follow Strategies and Techniques to Turn Your Savings into a Fortune and thank you for doing so.

The following chapters will discuss everything you need to know to invest in cryptocurrencies. This book will focus mostly on how to how you can invest and trade cryptocurrencies as opposed to discussing what cryptocurrencies are in depth.

Disclaimer: You should not base your trading and investment decisions on what you learn in this book alone. You will need to base your decisions on your financial situation. If you ever find that you need help, you can find someone that has been trading cryptocurrencies for a while in order to help you with some of your trading decisions. In the end, it will be up to you to make your own investment decisions.

Although the author and publisher have made every effort to ensure that the information in this book was correct at press time, the author and publisher do not assume and hereby disclaim any liability to any party for any loss, damage, or disruption caused by errors or omissions, whether such errors or omissions result from negligence, accident, or any other cause.

In addition, the author and publisher cannot guarantee that the reader will make money with cryptocurrency. While we strive to provide accurate information and useful strategies, this investment, like other investments, is a risk. Understanding your risk and taking the necessary precautions are important to ensure you see a good return on investment when working in cryptocurrencies.

This book is not providing tailored investment advice and is not taking the reader’s personal circumstances into consideration. Information contained herein is no an offer or solicitation to buy, hold, or sell any security. No legal claims can be made against the author or publisher of this book based on any of the information contained and presented within.

There are plenty of books on this subject on the market, thanks again for choosing this one! Every effort was made to ensure it is full of as much useful information as possible; please enjoy!

Chapter One: A Brief Introduction to Cryptocurrency

Cryptocurrency is a digital currency that uses blockchain technology. This technology relies on sophisticated cryptography in order to secure peer to peer transactions that are sent across the network. A miner then uses computing power in order to solve digital equations so that the transactions can be confirmed before the miner is compensated with a small portion of the cryptocurrency in question for the effort they put in confirming the block.

Bitcoin was the first cryptocurrency, and it is still one of the leading cryptocurrencies to this day. Bitcoin transactions work on a peer to peer system as well which means that there will be no bank to facilitate the transaction. Therefore, the user's funds cannot be frozen or changed without permission. This system is not entirely fool-proof. Consequently, it is highly encouraged that users use extreme caution when they are handling digital currencies such as Bitcoin.

The decentralized currency has changed traditional fiat markets and created a lot of speculation, and it has continued to develop speculation ever since it was introduced. With the market being so volatile, there are often times when cryptocurrency booms thus causing miners and investors to earn a lot of money.

Bitcoin is not the only cryptocurrency that you can invest in – they’re also known as altcoins (alternative coins). There are more than a thousand on the market currently and more are coming online every day.

Chapter Two: How to Set Up a Wallet to Use Your Cryptocurrency

Once you have picked your cryptocurrency, you need to find a wallet that will provide you with a high level of security. The more security your wallet has to offer, the better protected your cryptocurrency will be from hackers. It is crucial to take the security of your cryptocurrency very seriously as if they are stolen, or there is a server error, and your account is erased, then you have no recourse, and your money is lost forever.

The first thing you need to understand is that, despite the name, a cryptocurrency wallet does not actually hold the cryptocurrency that you own. Rather, it holds a pair of keys, one public and one private, that connect directly to the spot your cryptocurrency has on its related blockchain. The public key is shared for the purposes of completing transactions while the private key is kept secret as it provides full access to your cryptocurrency. Broadly speaking, there are two types of wallets, hot and cold. Hot wallets are connected to the internet and are thus less secure than cold wallets which are not.

Types of wallets

You will have the option of using various types of wallets in order to store your cryptocurrency. In this section, you will learn about the different types of cryptocurrency wallets.

Desktop – You will download this wallet to your computer. You will only be allowed to access your wallet through the computer where you downloaded it. Desktop wallets offer a high level of security because they are on your computer, though they are still less secure than some options simply because of your internet connection. The only thing that will compromise your desktop wallet is if your computer is hacked or gets a virus.

Mobile – Mobile wallets are applications that have to be downloaded to your phone. With a mobile wallet, you can access your cryptocurrency even if you do not have an internet connection at the time.

Paper – This is one of the most accessible and most secure wallets around. Paper wallets refer to a physical printout of your keys that allow you to get into your wallets. A paper wallet can also refer to the software that you use in order to generate a set of keys that need to be printed out. All you need to