Blockchain for beginners

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Everything you need to know about what blockchain and Cryptocurrency is (English Edition) Kindle Edition

Of course, this eBook can not make you an expert.
But it certainly helps you to find your way around fundamentally.

If you feel the way I am, Blockchain and the opportunities it offers will not let you go.

You will absorb this eBook and can hardly wait to put it into practice. 

https://www.amazon.de/dp/B07GH8J3JT/

 This e-book should give you a basic knowledge so that you can have a say. At least you will know what people are talking about in the future
 

Crypto currencies are digital means of payment, which according to experts will become more and more important in the future. So it's worth taking a look at the most popular virtual currencies.   

Cryptocurrencies - what is behind it?

Wallet and keys

Digital means of payment allow users to transfer money quickly and globally. In order to use cryptocurrencies like the Bitcoin, one needs a special software, the so-called Wallet.  This can also be viewed as a virtual wallet. This software generates two different keys - a public key and a private key.  The public key is the address of your own virtual wallet and is shared with others to carry out transactions. He is therefore comparable to an account number.  The private key, on the other hand, acts like a pin and should therefore not be passed on.   

Blockchain

Most cryptocurrencies are based on blockchain technology. The blockchain consists of many different blocks and serves as an accounting system, as it monitors and stores the individual transactions.  This process is transparent and at the same time mostly (but not completely) anonymous. It's like a public order book. All transactions are public but no names of the transferring parties are published   

Peer-to-peer network

Bitcoin and many other cryptocurrencies are peer-to-peer networks. The control of the transactions is not taken over by a central office but by all members of the network.  Some know the music exchange Napster. That was in the beginning a classic peer to peer network  

  

Who uses cryptocurrencies and why?

The masses have not yet accepted Bitcoin or other cryptocurrencies as a means of payment. So far, only about 1.7% pay with the Bitcoin.  However, if one looks at the survey results in the graph, it becomes clear that a large proportion of respondents are quite interested in using virtual means of payment such as Bitcoin in the future.  Although past price movements have been extremely attractive, speculating on price gains is not one of the main reasons for acquiring Bitcoin.  Instead, respondents said they acquired Bitcoin purely out of curiosity or because they were looking for an alternative currency.   

How many cryptocoins are tradable?

Everything started with Bitcoin. There are now about 1,600 Altcoins (the term refers to alternative cryptocurrencies to Bitcoin). And new ones are added every day.  There are two causes for this. On the one hand, the crypto currencies are open source - that is, the code can be customized. You will find the Top Cryptocurrencies by Market Capitalization under https://coinmarketcap.com/ Serious changes lead to splits, it creates a hardware fork. A second reason for the strong increase is the fact that developers use cryptocoins as financing, in order to solve real problems with the help of the Blockchain.   

Popular cryptocurrencies

The following cryptocurrencies are currently the best known and should be considered by beginners, as you can not go wrong here. 1. Bitcoin The first really successful cryptocurrency ever. Its extremely high profile has led to true price explosions in the past.    2. Ethereum Astonishingly, Ethereum overtook Ripple in December 2017 and is currently in third place. From a technical point of view, Ethereum is a pioneer with its platform and smart contracts. The value growth in% was higher in 2017 than in Bitcoin.  3. ripple Regarded as "Bitcoin for banks". Technically, a slightly different concept like Bitcoin & Co.'s added value is considerable. While the course of all major cryptocurrencies collapsed in mid-December 2017, the ripple course went through the ceiling.  4. Litecoin Technically almost identical to Bitcoin, it is often considered its little "brother".    5. IOTA Technically fundamentally different, it promises many advantages over Blockchain. In a short time a considerable market cap reached.    6. Dash Provides even greater anonymity to Bitcoin. 10% of the mining revenues go to the developers.   

Where do I start if I want to buy a cryptocurrency?

Of course, an essential aspect is first, which currency you actually want to buy. Opinions often differ widely about which currency is the future and there are often heated discussions in relevant online groups.  No one knows which cryptocurrencies will ultimately prevail over the longer term. However, one rule of thumb is that the greater the market capitalization of a currency and thus its spread, the higher the likelihood that the currency will persist and gain in value over the long term.    

Where can I buy cryptocurrency?

Once you've decided to buy a cryptocurrency, it's about buying it at the beginning with Euros or Dollar. If you later have cryptocurrencies, you can often swap them among each other.  The step from Euros to the cryptocurrency is the most time-consuming.
Tipp https://www.exodus.io/ offers as wallet an internal exchange of crypto currencies. Online vendors selling cryptocurrencies such as Bitcoin , Ripple or Ethereum are springing up like mushrooms. They often differ significantly in how the individual currencies are offered.  Not all support the purchase of cryptocurrencies with euros. The payment methods are also to be considered.  It is now possible to buy cyprus currency with Paypal, credit card and bank transfer, but you always have to check with the provider before opening an account. In essence, you can distinguish four major groups from each other. All are justified because they cover different customer requirements. The advantages and disadvantages of the various providers will be discussed below.   

1. CFD Brokers: Contracts for Difference

A less well-known way to participate in adding value to cryptocurrencies is CFDs, Contracts for Difference.  CFDs are a kind of "virtual possession" of cryptocurrencies. Virtually because you do not own the crypto currency directly, but instead bet on its price performance - whether rising or falling.   For this you conclude a legally regulated contract and buy the CFDs directly with Euro. The sale of the CFDs is also again directly to Euro. Some of the crypto-millionaires did not get rich by trading in cryptocurrency directly but by trading in CFDs.  The reason is that you can pry here, that is, with a use of eg 1 euro hundred times to crypto currencies can act as the equivalent of 300 euros.   

advantage

The big advantage of CFD brokers is that you do not need a wallet and the stock market is almost always available. Even if prices are rising or falling extremely.  Purchases and sales are handled directly in euros. A detour via other cryptocurrencies is not necessary. So you can buy and sell relatively stable and fast in any situation. In addition, CFD brokers allow you to make profits with both rising and falling prices. The lever also increases the attractiveness. In addition, trading in CFDs is regulated in Europe.  This means that each of these online CFD brokers is subject to stock exchange supervision, which means that certain investor protection regulations must always be met.   

disadvantage

The disadvantage of these CFD brokers is that you need a good understanding of the mechanics. For some providers, you can only hold the CFD for a limited time and then sell it again.  For some, another drawback is that you do not really own the cryptocurrency yourself. However, depending on personal preference, this can also be an advantage, because then eliminates the complex handling of wallets and you still very flexible in the extreme price developments involved.    

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