INTRODUCTION TO CRYPTOCURRENCY: A Guide to Understanding cryptocurrency

By Y.S.G TWIZZY

Cryptocurrency you might ask what is that? Bitcoin? Dodge coin? "Going to the Moon", Everybody wants to get in on this new wealth generating asset, Before hopping in and risking your money learn the basics and functions of cryptocurrency. Why it exist Why is it valuable and all the questions you have about this MONEY GENERATING TOOL"

• Language: English
• Publisher: Lulu.com
• Release date: Jul 9, 2021
• ISBN: 9781105338571

Book preview

CRYPTONOMICS THE NEW HU$$LE:

A Guide to Understanding cryptocurrency

Written By:

Y.S.G TWIZZY

ENHANCED EDITION

Copyright © 2021 [Y.S.G TWIZZY]

All rights reserved

ISBN: 978-1-105-33857-1

TABLE OF CONTENTS

CRYPTONOMICS THE NEW HU$$LE:

INTRODUCTION TO CRYPTOCURRENCY

How cryptocurrencies work

Why is cryptocurrency important?

Characteristics of cryptocurrency

What Drives the Cryptocurrency Market?

DANGERS IN THE CRYPTOCURRENCY MARKET

Advantages of cryptocurrencies

Is it profitable to trade cryptocurrencies?

INVESTING

Things to consider

Tips to invest

CRYPTOCURRENCY TRADING

What Are the Most Traded Cryptocurrencies?

What are the most popular cryptocurrencies for traders?

How Are Cryptocurrencies Traded?

How to start trading

KEEPING YOUR CRYPTOCURRENCY SAFE

How to store it

Coinbase

Keeping it safe

HOW TO BECOME A SUCCESSFUL CRYPTOCURRENCY TRADER

INTRODUCTION TO CRYPTOCURRENCY

Cryptocurrency is a decentralized, encrypted digital currency that is exchanged between peers and verified in a public ledger through mining.

Cryptocurrencies are a kind of digital currency that does not exist in physical form but functions as an exchange currency, allowing for instant transactions across borders via the internet. Other digital currency types are virtual currencies (usually controlled by developers), electronic money, and Internet coupons.

The principle that defines it is the same as that of the traditional currencies we use daily. It uses a scale of assigned values, but its difference is that it only has digital support. In other words, there are no physical bills or coins. The other fundamental element is that these coins are encrypted; they can only access the corresponding code. Blockchain is undoubtedly the best known, for there are many others such as Ethereum or Monero.

Cryptocurrencies could be used to make quick payments and avoid transaction fees. Furthermore, some people may buy cryptocurrency as an investment, hoping that its value will rise. Cryptocurrencies can be obtained with a credit card or, in some cases, through a mining process. Cryptocurrencies are kept in a wallet, also known as a digital wallet, which can be found online, on your computer, or in another physical medium.

Before you buy a cryptocurrency, keep in mind that it does not have the same level of security as US dollars. You should also be aware that scammers will ask people to pay you in cryptocurrency because they know that such transactions are usually irreversible.

Satoshi Nakamoto created the first fully decentralized cryptocurrency, Bitcoin, in 2009, along with the software supporting it (Blockchain). However, no one knows who is behind the creator's name to this day.

Bitcoin's introduction was so revolutionary that the terms cryptocurrency and Bitcoin have merged into one, making