How to Become A Money Making Machine By Trading & Investing in Cryptocurrencies

By Anthony Christensen

Cryptocurrencies are growing phenomenally and there is so much money to be made. A lot of investors are earning profits regularly by trading, investing, and exploiting opportunities brought about by cryptocurrencies. 

By reading this book, you will learn everything about cryptocurrencies and discover which ones are the most profitable to trade and invest in. If you are looking for a good investment, then you should seriously consider investing in cryptocurrencies. 

Through this book, you will find out how to get started, where to start and which strategies will earn you the most profits. You also get to learn how to read and interpret charts, and how to use the charts to predict the future performance of the currencies and make accurate determination about when to buy, when to hold, or when to sell. The book describes in great detail the best ways to predict price movement and how to profit from it. 

If you are looking for a reliable and recurrent source of income, then this book will explain how to build a long-term profitable income stream in various cryptocurrency areas ranging from mining to trading and investing.

• Language: English
• Publisher: Anthony Christensen
• Release date: Mar 30, 2018
• ISBN: 9781386592839

Book preview

Introduction

Congratulations on downloading this book and thank you for doing so.

The following chapters will discuss what you need to learn about trading and investing in cryptocurrencies. In the last couple of years, cryptocurrencies have attracted the attention of investors and traders around the world. They provide a huge opportunity for those who wish to invest wisely and make money. Currently, there are a lot of investors who are earning very lucrative incomes simply by trading in cryptocurrencies.

This book introduces you to cryptocurrencies and takes you step-by-step through the process of getting started. There are things you need to know before you start trading in cryptocurrencies. For instance, did you know that you need to have a digital wallet to hold your coins? You need to get a secure wallet that is compatible with the crypto you intend to invest in. You will learn about the different types of wallets available and how you choose the most suitable one for you.

There are many ways of making money with crypto. For instance, you can invest, or use different trading techniques, and even exchange one crypto for another. You can also use crypto as a means of payment for goods and services around the world. There are many companies that accept cryptocurrencies as a payment option. There are over 3000 different cryptocurrencies in the market. How do you know which ones to trade in and which ones to ignore? Reading this book reveals which are the stable, globally accepted and preferred currencies.

Trading in these cryptos will provide you with ample opportunities to earn an attractive income on a regular basis. There are plenty of narratives out there about cryptos being a Ponzi or a scam. Unfortunately, such statements are untrue as they are not based on facts or evidence. Learning the truth and seeing the real-life applications is definitely what you need to do.

Trading in cryptocurrencies can be lucrative but only if you have the proper knowledge. For instance, you need to learn how to read trading charts and how to spot trends in the markets. Fortunately, this book teaches you all the trading techniques that you need to learn and also how to apply them correctly. By the time you get to the end of this book, you should be an accomplished investor as well as a knowledgeable trader.

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!

Disclaimer

Cryptocurrency trading and/or investing involves substantial risk of loss and is not suitable for every investor. The valuation of cryptocurrencies may fluctuate. As a result, clients may lose more than the original investment. The content in this book should not be relied upon as advice or construed as providing recommendations of any kind.

Ensure to trade only with money that you can afford to lose; that is money that, if lost, will not adversely impact your lifestyle and your ability to meet your financial obligation. You are responsible for all the risks, and financial resources you use and all trading strategies are used at your own risk.

You are solely responsible for any losses incurred as a result of using any of the trading strategies mentioned in this book. Loss-limiting strategies such as stop loss orders may not be effective because market conditions or technological issues may make it impossible to execute such orders. Information provided in this book is intended solely for informational purposes and is obtained from sources believed to be reliable. Information is in no way guaranteed. No guarantee of any kind is implied or possible where projections of future conditions are attempted.

Chapter 1: An Introduction to Cryptocurrencies

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Understanding Cryptocurrencies

A cryptocurrency can be defined as a virtual or digital currency that operates as a medium of exchange. Cryptocurrencies use cryptography to control the creation of additional tokens, to verify the transfer of assets, to secure transactions, and to maintain the integrity of the system.

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Properties of cryptocurrencies

They have no intrinsic value: This means that a cryptocurrency cannot be redeemed for another commodity such as gold, diamond, or oil.

They do not have a physical form: Cryptocurrencies are virtual currencies that only exist in the digital world but not in physical form like fiat currencies do.

They are not overseen by an authority: There is no formal authority such as a central bank or regulator that overseas cryptocurrencies.

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What is Cryptography?

Cryptography is a technique used to convert legible information into a complex code that cannot be hacked. This technique uses elements of computer science and complex mathematical theory.

Cryptograph technology was developed out of the need to have secure communication, especially during World War II. The technique has evolved with time and is now widely used to secure communication, information, and financial transactions.

Digital Currencies

Digital currencies are currencies that only exist in the digital world. In essence, cryptocurrencies are simply limited entries in a database, and no one can change the entries until certain specific conditions are met.

This concept is very similar to the money you have in your bank account. It is nothing more than entries made in a database that can only be changed under certain specific terms. Money is really all about a verified entry in a database of accounts, transactions, and balances.

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The History of Cryptocurrencies

There have been numerous attempts at creating a digital currency ever since the digital revolution of the 90s. There were many systems that were created, such as DigiCash, which eventually failed. Reasons for failure include financial problems and fraud.

The first cryptocurrency, Bitcoin, was introduced in early 2009 by a group of anonymous programmers under the alias Satoshi Nakamoto. Bitcoin is actually a peer-to-peer electronic cash system that is completely decentralized.

A decentralized system is one with no central server and no controlling authority. Most current financial systems that we know