Before we begin, here's the news-
The most anticipated launch , long awaited since its official hardfork back on October 25 is finally launching tomorrow! Bitcoin gold(BTG) uses the memory-hard Equihash proof-of-work function that's also used in the privacy-focused altcoin Zcash. Starting tomorrow, the developers behind the fork of the bitcoin blockchain said that they would release a formal software client for download at 7:00 PM UTC on Nov. 12.Anyone who held bitcoin (BTC) on October the 25th (specifically, when Bitcoin block 491406 was mined) will have an equivalent amount of BTG attributed to their private keys. These private keys can be imported into a dedicated Bgold wallet, which, starting tomorrow, will allow users to spend the coins.
At 4:04Pm PST, Saturday 11/11/17, Bitcoin Gold (BTG) has officially passed the $400 threshold before launch.
And now onto -
How to: BITCOIN Invest and Trade: A crash course into CryptoCurrency
What is Cryptocurrency and what is it used for?
Cryptocurrency like "Bitcoin" is a secured and anonymous internet based currency/money that uses cryptography, the process of converting legible information into an almost uncrackable code, to track purchases and transfers , that is not tied down by governments and regulations(as of yet) and is widely used for cross border payments from point A to point B anywhere around the world.
Furthermore, cryptocurrency is widely driven by Market demand and consensus. Meaning that the asset value is based on the usage rate and the demand is what drives its value.People of the world who demand and use the digital currency is the driving force towards acceptance,usage, and prevalent use.
Why should I get into cryptocurrencies?
Anyone who doesn't know anything about inflation or hyperinflation should GOOGLE: "Zimbabwe, Venezuela,and Weimar Republic".Because of the impending hyperinflation due to the printing of money by world central banks globally to stay competitive is why we can all speculate is how to Bitcoin came about, created by Satoshi Nakamoto. Bitcoin was created as a peer-to-peer network to generate what was described as "a system for electronic transactions without relying on trust. It became as a 1st real Market competition rivaling against all FIAT currencies that were being mismanaged and printed to oblivion by all Governments of the world.(Note: whenever governments of the world print out a huge sums of government -backed Sovereign currencies to stay trade competitive, the standard of living goes down through the devaluation of a country's money supply).
What Bitcoin ending up creating was a pure exit play and strategy away from all of the devaluation taking place and hence became a safe haven from all of the inflation since the total supply of Bitcoin is 21Million versus an estimate of floating currencies worldwide of $75 trillion USD.(If we were to take the number of Global fiat currencies divided by the number of Bitcoins , 1 Bitcoin in theory and in supply would be valued at $3,571,428.57USD /still a great hedge against inflation by low total supply amount alone)
So How do I get into Bitcoin and cryptocurrencies and how?
What is a cryptocurrency exchange?
Cryptocurrency exchanges are websites where you can buy, sell or exchange cryptocurrencies for other digital currency or traditional currency like US dollars or Euro. For those that want to trade professionally and have access to fancy trading tools, you will likely need to use an exchange that requires you to verify your ID and open an account. If you just want to make the occasional, straightforward trade.
Here are the Cryptocurrency exchanges that I recommend:
Coinbase and GDAX:
Coinbase is a digital asset broker headquartered in San Francisco, California. They broker exchanges of Bitcoin(BTC), Ethereum (ETH), Litecoin (ŁTC) and other digital assets with fiat currencies in 32 countries,and bitcoin transactions and storage in 190 countries worldwide . Coinbase is also backed by trusted investors and used by millions of customers globally, Coinbase is one of the most popular and well-known brokers and trading platforms in the world.
https://www.coinbase.com/join/59a3535c133f4600e3c42ea4
Bitstamp
Bitstamp is a European Union based bitcoin marketplace founded in 2011. The platform is one of the first generation bitcoin exchanges that has built up a loyal customer base. Bitstamp is well known and trusted throughout the bitcoin community as a safe platform. It offers advanced security features such as two-step authentication, multisig technology for its wallet and fully insured cold storage. Bitstamp has 24/7 support and a multilingual user interface and getting started is relatively easy. After opening a free account and making a deposit, users can start trading immediately.
https://www.bitstamp.net/
While there are other potentially great exchanges out there like: Poloniex, Kraken,Gemini,Coinmama, CEX.io, and Bitsquare. I urge all potential investors to look up and research the best crypto currency Exchange that is right for you. But as far as I know, I have trusted Coinbase/Gdax(low brokerage fees) and Bitstamp for their superior customer service and is what I will stick to recommending.
So now that after you have chosen your cryptocurrency exchanges, these exchanges can be used as gateways to withdraw/transfer or deposit your cryptocurrency from one wallet in Exchange A to another wallet in Exchange B.
*Rule of thumb: Always transfer Bitcoin BTC to another Bitcoin BTC wallet.
*Never transfer Bitcoins BTC in a Bitcoin wallet to say, an Ethereum ETH wallet. (Wallet comingling will result in a loss of potential thousands of dollars forever...So please take your time within the transfer process.
Where to transfer your Bitcoins to:
Here are the list of Crytocurrency Market Exchanges that I have utilized to date:
#1)Bittrex:
Bittrex's mission is to deliver the fastest and most secure trading platform available.
Bittrex LLC is a limited liability corporation formed and operated out of Las Vegas, Nevada.
Here is their email for [email protected].
Bittrex LLC
6077 S. Ft. Apache Rd
Suite 100
Las Vegas, NV 89148
Here is a link to their About us page introducing their founders and their Background:
https://bittrex.com/home/about
#2)Binance:
Binance is a Hong-Kong based cryptocurrency Markets Exchange headquartered in Shanghai,China but the company is registered in Hong Kong, which is separate from mainland China and not necessarily bound under the same rules and regulations. The team at Binance has reportedly migrated all of the servers to South Korea and Japan.
What makes Binance unique is that it offers cryptocurrency coin trades not offered on Bittrex and is the first Market to reward NEO antshare holders neoGAS. Here is ther link-
https://www.binance.com/
#3)Kucoin:
Cryptocurrency Kucoin (KCS) is a young currency, the headquarters of the company's owners in Hong Kong.
Kucoin is one of the few exchanges that possess their own blockchain,(KCS) Kucoin is a Masternode coin that Kucoin offers a system of bonuses and dividends and also offers a payment system for holding their KSC - Kucoin Share Currency of 14 coins a fraction in accumulation per day depending on the amount of kucoin tokens an investor possesses the faster the frequency of earnings.. Kucoin grants an incentive bonus equal to 50% of the total business charges charged by the platform to users who have KCS on their accounts. . There is an Invitation Bonus to bring a new user to Kucoin.com. Kucoin also rewards NEO holders Gas like Binance..
The Team consists of experts that originated from Jack Ma's Alibaba-ant Financial Group.
Here is their link to get started:
https://www.kucoin.com/#/?r=E3UMWc
Okay.... So now you are ready to invest:
What should I invest into?
- Litecoin (LTC)-$61.51USD
Litecoin is based on an open source global payment network that is not controlled by any central authority and uses "scrypt" as a proof of work, which can be decoded with the help of CPUs of consumer grade. Although Litecoin is like Bitcoin in many ways, it has a faster block generation rate and hence offers a faster transaction confirmation. Other than developers, there are a growing number of merchants who accept Litecoin. Litecoin is being projected to explode in 2018. at what price? we shall see.
#2)Monero(XMR)-$120.50 USD
Monero is a secure, private and untraceable currency. This open source cryptocurrency was launched in April 2014 and soon spiked great interest among the cryptography community and enthusiasts. The development of this cryptocurrency is completely donation-based and community-driven. Monero has been launched with a strong focus on decentralization and scalability, and enables complete privacy by using a special technique called ‘ring signatures.’ With this technique, there appears a group of cryptographic signatures including at least one real participant – but since they all appear valid, the real one cannot be isolated.
#3)Bitcoin Gold (BTG)-$416.88
The goal of Bitcoin Gold is to compete with Bcash, Ethereum, and GPU Coins, increase mining decentralization. Unlike the Original Bitcoin, and Bitcoin Cash, Bitcoin Gold contains Segwit,Replay Protection,and a unique address format.
Because ,Bitcoin Gold is low priced and easily mineable. Bitcoin Gold may be the wildcard pick of 2018.
#4)Bitcoin(BTC)-$6,180 USD
Bitcoin is the originator where all of the altcoins based everything on and improved on it.
Due to its novelty of having created by the "founder" Satoshi Nakamoto himself. This is one asset class that has proven to be accumulated by governments, miners, royalty, Millionaires,Billionaires, hedgefunds,dictators, and higher up elites.
Bitcoin will reclaim its dominance and its price should not be misinterpreted for weakness as it is only merely a sleeping giant- waiting to be awaken from its slumber as the altcoin party resumes to coin the saying:"While the cat's away the mice will play"
#5)Ethereum(ETH)-$308.74USD
Launched in 2015, Ethereum is a decentralized software platform that enables Smart Contracts and Distributed Applications (ĐApps) to be built and run without any downtime, fraud, control or interference from a third party. During 2014, Ethereum had launched a pre-sale for ether which had received an overwhelming response. The applications on Ethereum are run on its platform-specific cryptographic token, ether. Ether is like a vehicle for moving around on the Ethereum platform, and is sought by mostly developers looking to develop and run applications inside Ethereum. According to Ethereum, it can be used to “codify, decentralize, secure and trade just about anything.” Following the attack on the DAO in 2016, Ethereum was split into Ethereum (ETH) and Ethereum Classic (ETC). Ethereum (ETH) has a market capitalization of $4.46 billion, second after Bitcoin among all cryptocurrencies.
Honorable mentions are:
Ripple (XRP)-$0.206762
Ripple is a real-time gross settlement system (RTGS), currency exchange and remittance network by Ripple backed by 100+ Banks World-wide and counting. Ripple XRP takes an average of 3.7 seconds to transact, while Bitcoin averages two hours. That’s on par with the maximum throughput delivered by Visa, the world’s highest volume payment processor.If and when Ripple achieves their goal of $5.7 Trillion Dollars in day to day transactions will surely affect its price and can potentially take over the #2 or #3 Market cap that can potentially take Ripple's price to the moon. to how much? only time will tell.
Stellar( XLM)$0.031217: Stellar is a platform that connects banks, payments systems, and people.
Integrate to move money quickly, reliably, and at almost no cost.
Cardano(ADA)$0.025370:Cardano is a decentralised public blockchain and cryptocurrency project and is fully open source. The development team consists of a large global collective of expert engineers and researchers
Verge(XVG) $0.005890:Verge is a secure and anonymous cryptocurrency, built with a focus on privacy
So now that we have concluded our
Cryptocurrency crashcourse,
don't forget to secure your Cryptocurrencies and GOOGLE:
Ledger Nano S and Exodus Wallet
in order to keep your holdings,investments,Bitcoins,and altcoins safe.
And remember to -
always youtube how to's and do your due diligence and research.
Here are the tools you can use to keep tabs on your watchlist:
https://www.cryptocompare.com/
And here's a link to the cryptocurrency Market cap where you can determine,analyze, and research trades:
https://coinmarketcap.com/
And who knows, perhaps whomever is reading this may be the next Warren Buffet in the making.
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Donate here: 1JTAbG9DadCs6C9tAYVLm5VijKMGmcqNuR
Credits to linderper for the image
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