Cryptocurrency for Dummies

Cryptocurrency

 

Cryptocurrency, Bitcoin, Ethereum and the other ALT Coins are the digital cash and blockchain technology of the future. The Cryptocurrency revolution will be as big as the internet revolution was in the 90's.

The Cryptocurrency for Dummies website is for you, the people who are just discovering Crypotcurrency's, Bitcoin, Ethereum and all the other ALT Coins or for the seasoned professionals who already know a thing or two about cryptocurrency's. We aim to help you learn about this exciting technology and to make great choices about which cryptocurrency to invest in.

Bitcoin is the market leader in cryptocurrency. Bitcoin is the household name and many people think that Bitcoin is the only cryptocurrency. How wrong they are. Bitcoin holds around 50% of the cryptocurrency market cap at any one time and it is massively important to the cryptocurrency market. However there are other payment coins that are also in development, such as Litecoin, Monero, Dash, PIVX, Zcoin, Nav Coin and many others. Some of the aforementioned coins are privacy coins (which means your transactions are private) and some of the coins are not privacy coins. Some of the coins are "proof of work" coins (POW) and some of the coins are "proof of stake coins" (POS). We will explain all about the various ALT Coins in our ALT Coin section.

There is also the blockchain platforms that can be used for payment AND for smart contracts where other programs and applications can be built off them. Ethereum, NEO, Lisk, EOS, Icon, Stratis are some of these platforms. It is the blockchain technology that is the real jewel within the cryptocurrency market. Governments, hospitals and businesses are already introducing blockchain technology’s to store information and data securely. The Equifax data leak, would not happen on the blockchain. By 2030 every single private and public sector institute or business will probably have their information stored on a blockchain. So blockchain technology is a big thing and very exciting!!

 

How do you get into cryptocurrency? 

 

Cryptocurrency Exchanges

After people have done their research and have decided to buy cryptocurrency one of the few websites you can convert FIAT cash (Dollar, Pounds, Euro etc) to Bitcoin, Ethereum or Litecoin is the Coinbase cryptocurrency exchange.

We have a whole page explaining the Coinbase website here.

After you have bought your Bitcoin, Ethereum or Litecoin. You can store them on the Coinbase site (not advised as you don't control your private keys), you can move your cryptocurrency to an offline hardware wallet (where you do control your private keys) or you can move them to an ALT Coin exchange like Binance to exchange your Bitcoin or Ethereum to ALT Coins.

A page on hardware wallets is here and a page on ALT Coin exchanges is here.

Cryptocurrency will replace the failing cash system that has been doomed since the 2008 financial crisis. Minus interest rates and governments devaluing FIAT money by printing more and more money will soon be a thing of the past.

The future is now.