Cryptocurrencies, mining, blockchain - are the trends of today and tomorrow. Somone who doesn't know what those words mean might think you are going insane, but in reality, it's them who are missing out. These words are normally associated with money and good life in general where you will be able to finally try lobsters and buy a yellow Lambo.
Because of that, Crypto Daddy has written a Crypto Bible for all those who are just starting to get into the crypto world. This Bible will have everything you need to go from someone who has no idea what crypto is to an investor with your first million. By the way, when you are cashing out your first million - don't forget to share some with us.
What is a cryptocurrency (in simple terms)?
Let's start with the basics. After all, any self-respecting investor should be able to explain the principles of crypto to their grandma. If the task seems too hard, you can make the conversation sound more complicated than it needs to be by talking about unknown coins and tokens. You can also throw in the word "market capitalisation" to make yourself sound even smarter.
Cryptocurrency exchange rates
There are tons of different cryptos, but there is something common among all of them - a volatile exchange rate. To monitor the price of coins you can use CoinMarketCap.com.
Now you probably started to doubt if crypto is actually a bubble and are wondering how to get your first few hundred dollars invested. Perfect because we have a post just for you:
If you have concerns if you should do it now, we also have a guide for you:
Wallets for Bitcoin and other cryptocurrencies
Buying cryptocurrencies is not the hard part. Storing it securely away from scammers and hackers is a much harder job. That's where wallets come in. Let's discuss them in more detail:
Now that you have that covered, have you heard of Gas and crypto transaction fees? No? Read these:
Well done! You now have virtual money. You are probably wondering about how to start earning more? There are many ways, but one thing you absolutely shouldn't do is:
Don't spend too much money when withdrawing money from exchanges! Better read our articles on it!
Sometimes it is your destiny to lose money. It happens. It happened to me and happened to others around us. Read our post about how my friend lost 2 ETH to not fall for the same trick as he did.