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Crypto Bible — bitcoin currency

How to Cash Out your Cryptocurrencies back into fiat?

Posted by Taras Lanchev on

We have already discussed how to store Bitcoin and other cryptocurrencies, how much you should be paying for a Bitcoin transaction and for an Ethereum transaction. However, one important bit we’ve missed is how to withdraw cryptocurrencies back into fiat. If you’ve invested all your money into crypto and then realised that you need to eat and crypto can’t quite buy you food yet, you will definitely find this post interesting. Cashing out could be a challenging process and to be honest, this is where people normally run into trouble as they worry about safety and security of their money....

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How to store Bitcoin? Creating a Bitcoin wallet

Posted by Taras Lanchev on

- How do I store Bitcoin? - You need to get a cryptocurrency wallet - How do I do it? - Listen up! -- It's weird, but these kinds of questions don't get answered in too much detail on the internet. Even if you type in "Bitcoin wallet comparison" you get some stupid websites i.e. "20+ Best Bitcoin Wallets to Store your Bitcoins in" with some really weird comparison criteria and an ad for 1 of them. I already mentioned Jaxx in my post about how to buy cryptocurrencies. It supports tons of coins (BTC, ETH, DASH, ETC, REP, LTC, ZEC, RSK, DGE,...

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How to buy cryptocurrency?

Posted by Taras Lanchev on

99% of the time people use real (government-issued fiat) money to purchase Bitcoin (BTC). After that, you can use your BTC to buy other, less popular cryptocurrencies often referred to as altcoins. You can use https://cryptoradar.co to find the best crypto prices on the market, but their system only supports a few cryptos and is too simple for my taste. Instead, you can use https://localbitcoins.com which is much better in my humble opinion. Obviously, when you buy BTC you will need a place to store your Bitcoins. The simplest way to store your crypto is to get https://jaxx.io wallet which is a multi-currency wallet available on mobile and desktop...

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How many cryptocurrencies are there?

Posted by Taras Lanchev on

According to the most popular website about cryptocurrencies - the number of available currencies is well above 1000! If you are thinking that's too much to learn, don't worry, not many experts know what comes after the first 100, so you'll be fine learning about the first 10-20. You can check the list of all cryptos, their price and the market capitalisation using this link: https://coinmarketcap.com/all/views/all/

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What is market capitalisation?

Posted by Taras Lanchev on

You also shouldn't worry about words like "market capitalisation" (or market cap for short). This term simply means taking the price of the coin and multiplying it by the number of coins available. 

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