CryptoCurrency QuickStart and Trading Guide

By Michael Austin

This CryptoCurrency QuickStart and Trading Guide should educate you and give you a basic knowledge of Crypto and things associated with cryptocurrencies.  The guide starts with basic terminology and how crypto operates and to make money with crypto. You will be educated on "the blockchain" and how cryptocurrencies operate on the blockchain. You will understand "Smart Contracts" and what they are and how they operate.  You will learn what NFTs are and how to create and sell one. You will gain basic knowledge of trading and trading indicators.

Learn About:

*Blockchains

*Terms and Definitions

*Tokens vs Coins

*Defi

*Smart Contracts

*NFTs - how to create and sell them

*Crypto Swaps

*Crypto Mining

*Trading and Trading Indicators

*Yield Farming as an Investment

• Language: English
• Publisher: Michael Austin
• Release date: Apr 12, 2022
• ISBN: 9798201233730

Michael Austin

Michael Austin a Chicago floor trader back in the 80's is now an accomplished crypto currency trader and investor.  He also likes to help others improve their financial and personal health.  His hobbies include traveling, and visiting haunted places throughout the world.  He has also written a few books involving the paranormal.

Book preview

Introduction

(Should I Trust Crypto?)

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rypto to me is probably the best way to protect your hard-earned money.  Bitcoin, Litecoin, Tezos, and a few others are about the only way you can save for the future.  The stock market is manipulated and a fixed game.  Trust is not an issue with the crypto markets (well maybe - check out my chapter on smart contracts).  It’s People!  Crypto isn’t going away, El Salvador and Switzerland just adopted Bitcoin as their currency or legal tender!  The only possible way to manipulate Crypto is for the exchanges to purchase cryptos in hopes of sparking buying or the opposite.  But there are no brokers involved, the only commissions to be paid are to the exchanges. Brokers are slowly being phased out of existence… they had their heyday back in the 80s and 90’s when some brokers made $250k annually in commissions.  Now in Crypto, everybody does their transactions and a broker has no value anymore in the Crypto World.  Penny stock brokers are slowly being phased out by the government by regulating them to death and there is only a handful left.

As for the Crypto Exchanges, they are the only ones making money on trades these days.  Some exchanges offer to stake for the cryptos that staking rewards are built into.  For example; Tezos has to stake rewards that amount to an average of 6% annually on Tez holdings. The baker or exchange offering the rewards takes a percentage like Coinbase will take 25% of your baking rewards.  Independent bakers take an average of maybe 10% and they are listed on the website Baking-Bad.org.

And now on to People.  You will see on Facebook and other social media individuals touting that So and So is such an honest and great trader… He made me 5 times my money in one week… blah blah blah.  Run, and Run fast away from these fools.  They will only steal your crypto!  Since Crypto is still in the Wild West Phase these thieves will try anything and say anything to steal. 

As far as government control like the SEC to protect you, you don’t want them regulating the hell out of it either, and they are not here to protect you.  The Government and U.S. Government agencies like the SEC want to regulate the Crypto Markets because that is the only way they can control them.  And the banks are in on it too!  The U.S. Government is currently trying to pass a law to report annual inflows and outflows from individual accounts containing at least $600 to the IRS.  By now it may have already passed.  Some banks are for it and some are not… but regardless your rights are slowly being taken away if you are an American.

My thoughts are; Watch what you are doing, control your crypto and trade your crypto.  If you don’t know how to trade or it just plain scares you, Buy Proof of Stake coins like Tezos or Polkadot, Stake it and watch it grow and grow.  Staking rewards will make you almost 6% or 14% (respectively) annually, and that’s not to mention the increase in the price of the Tez or Polkadot itself.  Also, you can buy a piece of Bitcoin, Ethereum, or Tezos.  Meaning if you have $10 to invest, you can buy $10 worth of Bitcoin even though Bitcoin may be trading at $40,000.  So get involved and control your destiny.

Cryptocurrency Investing is not as hard as you think.  It should not intimidate you or make you feel like you are missing something… After reading this helpful guide you should feel comfortable and knowledgeable enough to handle your finances and generate a part-time or even full-time income.

Cryptocurrency is not only Bitcoin but hundreds of other coins that move quite a bit daily. I will only mention maybe 20 or so, but also give you enough information to help you recognize a trend or direction that you will be able to profit on.  I will describe and comment on market indicators.  I will also give you a Basic Understanding of Crypto Currencies and Trading Strategies that should improve your knowledge of this concept.  As a former floor trader, I will also give you some psychology and pitfalls of trading.  So, enjoy this publication and above all…

Keep It Simple!

Cryptocurrency Terms and Definitions

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his section of terms and definitions is designed to give you a basic knowledge of the most commonly used words and definitions.  It is scaled down so you are not overloaded and can get basic knowledge quickly and efficiently.  Read them all, because there just might be some added knowledge here to answer your questions.

Crypto Currencies - a digital means of exchange using strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets. 

Coins - Coins refer to any cryptocurrency that has a standalone, independent blockchain — like Bitcoin.  ETH is standalone on the Ethereum Blockchain. Tez is standalone on the Tezos Blockchain.

Tokens - Tokens are individual smart contracts that are built on platforms like Ethereum or Tezos that enable users to create, issue, and manage that particular token that