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What Is Cryptocurrency? Beginner’s Guide (Part 2)

lnhngn 11/11/2021 15:50 812 views

To continue the content for the Cryptocurrency for Beginners section (part 1), we will look at the crucial information below.

Top websites to look up cryptocurrency rates & charts

There are several fantastic websites throughout the world that offer free lookup services for virtual cryptocurrency rates, charts, and other information. You can refer to the following websites for the most reliable and up-to-date information:

1. Coinmarketcap


Coinmarketcap is the largest, most famous and most informative website for looking up exchange rates of cryptocurrencies. Coinmarketcap was established on April 28, 2013.

Coinmarketcap provides you information about coins and tokens: capitalization, trading volume, total supply, website, Github, price chart or supported exchanges.

You can also look up the biggest gainers, biggest losers, list and exchange information.

2. Coingecko


Coingecko is the 2nd most popular website in the world to look up the exchange rate of 4000+ coins and tokens. The functions of Coingecko are also complete and updated like Coinmarketcap: Chart, capitalization, volume, exchange and other information, …

Coingecko was established on March 26, 2014.

The interesting point in Coingecko is that there is a very eye-catching red and blue live price table.

3. Coin360


Coin360 is an interactive cryptocurrency infographic created to display current data on the crypto market, showing crypto market capitalization, exchange rates and live prices.

Apart from the regular price list, Coin360’s most unique feature is the Heatmap. Virtual currencies are represented by capitalized sized graphical blocks.

Each graphic block carries the widget’s information of a different size and color. The size and color of each block has its own meaning.

Coin360’s heatmap is powered by numerous crypto sites like Cointelegraph.

How to store cryptocurrencies?

Unlike most traditional currencies, cryptocurrencies are completely digital, which means you have to take a completely different approach than paper money, especially in terms of storage. Technically, you don’t store the currency; what you actually keep is a private key used to make transactions.

Currently, there are many different types of cryptocurrency wallets for many different uses. If your top priority is privacy, you can simply use a paper or a hardware wallet. This is the safest way to store crypto funds. In addition, there are also “cold” (offline) wallets on the market that are stored on hard disks or online wallets, linked to exchanges or independent platforms.

How to buy cryptocurrency

There are many opinions surrounding buying Bitcoin. For example, there are currently nearly 4,415 ATM Cryptocurrency in 58 countries worldwide. Alternatively, you can also buy BTC through cryptocurrency exchanges, investment trusts or even an OTC market for BTC.

For other cryptocurrencies, buying options are not as diverse as BTC. However, there are still quite a few exchanges where you can convert cryptocurrency to fiat or Bitcoin. Direct trading is also popular.

Industry Leading Experts

  • Vitalik Buterin (@VitalikButerin) – The genius behind second most valuable cryptocurrency current mayor – Ethereum
  • Andreas M. Antonopoulos (@aantonop) – Bitcoin devotee and author of “Mastering Bitcoin”.
  • Charlie Lee (@SatoshiLite) – Litecoin Founder
  • Nick Szabo (@NickSzabo4) – Szabo’s expertise in cryptocurrencies dates back to 1998 with his proposal of BitGold, the forerunner of Bitcoin.
  • Brian Armstrong (@brian_armstrong) – Co-founder and currently CEO of US largest cryptocurrency exchange Coinbase.
  • Brock Pierce (@brockpierce) – Co-Founder of Blockchain Capital.
  • Barry E. Silbert (@barrysilbert) – Founder and CEO of Digital
  • Don Tapscott (@dtapscott) – President and CEO of Tapscott Group, Inc.
  • Erik T. Voorhees (@ErikVoorhees) – Founder and CEO of ShapeShift.io.
  • Laura Shin (@laurashin) – Editor at Forbes and co-supervising reporter for Forbes Fintech.
  • Alex Tapscott (@alextapscott) – Co-founder and CEO of Blockchain Research Institute.
  • Roger K. Ver (@rogerkver) – Bitcoin angel investor.
  • Jihan Wu (@JihanWu) – Co-founder and director of Bitmain Technologies. Ltd.
  • Gavin Andresen (@gavinandresen) – Scientist at Bitcoin Foundation and Bitcoin Core developer.
  • Adam Back (@adam3us) – Co-founder and president of Blockstream.
  • Oliver T. Bussmann (@obussmann) – President of the Crypto Valley Association and founder of Bussmann Advisory.
  • Meltem Demirors (@Melt_Dem) – Development Manager at Digital Currency Group.
  • Fred Ehrsam (@FEhrsam) – Co-Founder cryptocurrency exchange Coinbase.

Where to discuss on what is CRYPTOCURRENCY?

  • CryptoCompare
  • Cryptocurrency Talk
  • Bitcoin Talk
  • Coinage
  • Bitcoin Wealth Club
  • BTC Warriors
  • Bitcoin Subreddit
  • Ethereum Subreddit
  • Litecoin Subreddit
  • Cryptocurrency Subreddit

What is the future of cryptocurrency?

Bill Gates, Microsoft co-founder, investor and philanthropist:

“Bitcoin is pretty much better than other currencies in that you don’t have to be in the same place to make a big transaction, paper money becomes inconvenient.”

Richard Branson, founder of Virgin Galactic and more than 400 other businesses:

“I think Bitcoin works. There may be other currencies like it that are even better. But in the present time, the world is witnessing the rise of a huge industry around Bitcoin – People get rich from Bitcoin, some also lose money because of it. Bitcoin fluctuates, but people can often still make money from those fluctuations.”

Al Gore, former vice president of the United States:

“When Bitcoin is converted to cash, the platform needs to be placed under strict regulatory frameworks. As for the idea of ​​Bitcoin having an algorithm that replaces the government, I think it’s pretty cool.”

Eric Schmidt, executive chairman of Google:

“[Bitcoin] is an amazing achievement for mankind… The ability to create something that cannot be duplicated in the digital age is of immense value… A lot of people can build businesses on it. on that foundation.”

Peter Thiel, co-founder of PayPal:

“PayPal also has the goal of creating its own currency. We failed and just created a new payment system. I think Bitcoin has succeeded as a currency, but there is still something missing to be a payment system. It is very difficult to use and that is also the biggest challenge for PayPal when facing Bitcoin.”

Cryptocurrency market updates

Currently, there are many tools available for you to track and follow every movement of the cryptocurrency market. You can use Coinmarketcap.com, the most popular website that tracks Bitcoin and most altcoins in the world. The website provides information on price movements, market capitalization and even trading volume in a day for traders.

In addition, exchanges also provide you with services to monitor your investment portfolio. Major exchanges like Huobi also provide you with a separate index for you to monitor your asset portfolio.

Hopefully the above article has helped and provided useful knowledge for those who are just starting to learn about the crypto market.

 


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lnhngn

"Don't invest in what you don't know. Learn first then invest"