How to get started with Crypto Currencies for newbies. by conda

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money · @conda · Jul 15 '16

$0.09

How to get started with Crypto Currencies for newbies.

<html>
<p>If you are already on Steemit is more than likely that you have some experience with crypto-currencies. I am making this post for the uninitiated who have stumbled onto this website and are interested in pursuing crypto-currencies.&nbsp;</p>
<h1>Bitcoin</h1>
<p>Bitcoin was created in 2009 as a decentralized finite currency. The block chain technology keeps a ledger of all transactions that occur on the bitcoin network for the public to oversee. Normally if a financial transaction takes place a book keeper on both sides of the transaction has to record the transaction on their side and because of human interaction their is the potential for error and manipulation. This concept has proven the concept that block chain technology is welcome and useful in today's world.</p>
<p><br></p>
<h1>How To Buy Crypto</h1>
<p>There are a ton of exchanges currently on the internet to buy Crypto-currencies. Bitcoin being the oldest and most popular, it has a market cap of +~10 billion, has the most exchanges solely dedicated to bitcoin. Poloniex and bitfinex are the most popular exchanges World-Wide, where you can buy almost any alt coin. For the United States Coinbase is the most highly regarded bitcoin exchange currently, it will be add Ethereum to its exchange shortly.&nbsp;</p>
<p><br></p>
<h1>Crypto Wallets</h1>
<p><br></p>
<p>It is not recommended that you keep your Crypto on the exchange platform and you should move it to a cold storage or paper wallet to HODL. A paper wallet is a glorified usb key that you can transfer your crypto onto and hold it off the internet and in physical form. There are plent of wallets for IOS and andriod phones or web based. I personally use Bread wallet for my bitcoin and Jaxx for my Ethereum. I find these two wallets extremely easy to use and from my research they seem to be relatively safe cold storage for my crypto.</p>
<p><br></p>
<h1>Exchanging Alt Coins</h1>
<p>www.Shapeshift.io is a great utility for anyone who has one type of crypto but would like to exchange it for another alt coin. They take an extremely minimal fee on your exchange, especially larger quantity exchanges. They are also extremely reliable and make processing an exchange of crypto's extremely easy.</p>
<p><br></p>
<p>Feel free to DM with any questions on cryptocurrencies or getting started that I may not have covered!</p>
</html>

👍 steampunkpowered, paradigm-lives, justtryme90, artific, conda, lookup, nastrom, mr-funki, questd23, inti, bitcoinnational, gfxmotion, sauravrungta, din, yana

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@bitcoinnational · Jul 16 '16

learn what a privkey is.
DONE.

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@nastrom · Jul 15 '16

Very interesting! I like it! Good Luck To You!

👍 conda

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@conda · Jul 15 '16 (edited)

Thanks!
One of my friends asked me how to get Crypto last night, which made me realize how small the crypto community actually is. I figured if I could help more people get involved it will be good just help move the future forward!

👍 conda, sauravrungta, warplat

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