Bitcoin

Interview with Chris Dunn – Security Token Offerings, Bitcoin, and more

Today we had the opportunity to chat with Chris Dunn, OG bitcoin trader, youtuber, crypto junkie and over all cool guy. Chris is an experienced trader and is the founder of Skill Incubator, a company that teaches valuable skills to help people thrive in todays economy. Together with his partners, Chris offers courses on crypto trading, stocks, real estate, and other important topics.

So lets get this started.

Why are you so bullish on Security Tokens with accreditation laws as they are?

So I think there’s a few phases of this, you know, obviously the first phase is going to be  the slowest phase, which I think we’re in now, which is assets are coming onto the blockchain they’re being tokenized but it’s very small potential investor pool for at least the first year during the lockup.

So for example with Tzero there is hardly any market right now and most of the investors that wanted some Tzero bought during the ICO which is why prices collapsed whenever they did launch on the exchange. I think it’s fine for now and I don’t think of non-accredited people are going to miss the boat. If anything, they might save money by not chasing bad deals. I’m bullish in the sense that this kind of first phase of security tokens, but hopefully new regulation that comes out that makes it easier for people to invest. One this happens I think we’ll see more investments from people that have never invested in the stock market before or don’t trust the whole financial system.

Do you think we’ll see a bull run on Security Offerings, similar to how we see runs on Weed Stocks or Privacy coins in crypto, etc?

No, I don’t think it’s gonna resemble anything like the 2017 ICO boom or crypto. That  got out of hand and it wasn’t actually a good thing. If anything it caused a lot of people to lose a lot of money and it was just like a big kind of wild west with so many scams.

It’s going to actually be easier to price some of these security token assets because they’re going to have an anchor to something, real estate or actual earnings.

Coming back to Bitcoin, what do you think is going to happen in the next year or so before the halving that takes place in 2020?

For me it’s about the process of thinking of possibilities and probabilities in terms of what could happen. I like Bitcoin’s price again now that it’s down over 80% off of the highs and I’ve started to accumulate. I bought the breakout above 4,000 and really I’m just kind of waiting to see what happens in the next six months.

We’re either going to have another big sell-off which I’ll accumulate more and get my cost basis down even further. I’ll also trade the swings or if BTC breaks up above 6,000 and we actually change the technical market structure on the chart then I’ll prepare for another bull run.

But in my opinion just based on the technical analysis, as long as we’re below that 6,000 price there’s still a lot of bag holders that are potential selling pressure that makes me very skeptical of breakouts and pops. I’m accumulating on the way down but people have to realize like it’s very very difficult if not damn near impossible to know where the actual low is until the price action confirms market direction.

What are your thoughts on the stock market right now?

I don’t really have a strong opinion about where we are with the stock market right now. What I’ve been doing is accumulating. More kind of long term value plays. I’m looking for individual stocks that I feel are either undervalued or are are exhibiting momentum traits. I’ve been funneling a lot of my crypto trading profits into a portfolio that I will hopefully not have to touch for like at least 20 or 30 years.

Somewhere around 50% US Stocks 50% International stocks and then of my total portfolio I have some percentage in bonds and just try to be Diversified and then not overthink. Also stay flexible in the event we do get a recession so I have dry power to buy at lower prices.

Do you think we’re near the end of this decade long bull market fueled by Quantitative Easing and low interest rates? Are you preparing for this?

So I’ve actually stopped trying to predict what markets are going to do and I just think in terms of responding or reacting to market conditions. I learned this from some of the best Futures Traders. A few of whom I’ve been interviewing to actually trade some of my capital and I’m talking about firms that have been actively trading since like the 70s or 80s, guys that manage like several billion dollars.

They all say “We don’t try to predict markets”. They listen to the news and we want to understand the narratives but their trading systems are set up in a way where they just respond to news and setup models with algorithms and then let those trade so they don’t try to inject their subjective bias on the markets because that can lead to mistakes.

So QE has definitely pumped a lot of money into the system and we are 10 years into this thing, but there’s no rule or law that says “hey 10 years and we have to have a recession”. The markets are always evolving and we could have something happen that is unprecedented where maybe we never get a pullback or retest the lows.

Any specific projects or sectors you’re bullish on or have been actively following?

The only one I’ve invested in so far as Tzero and even that was just kind of a small starter size for me. I’ve been doing a lot a lot of due diligence. I’m talking about weeks and months of reading and looking at deals.

My game plan initially was to put a little bit of money into a lot of projects, a shotgun approach works well when all tides are rising and when we’re in a big bull market and I just I don’t feel like the STO markets going to look that way. I’ve also been looking at real estate deals and some startup deals.

What are your thoughts on the youth socialist movement happening in the US right now?

The people that I’m surrounded by on a day-to-day basis are very much entrepreneurial, very capitalism focused, investor focused and self-sufficient. Surrounded by libertarians.

Here in Austin there’s this kind of hippie or artsy movement of people advocating for a different structure to society and I get it. I mean the idea of getting something for nothing makes a lot of sense to some people I guess which is why Bernie Sanders and AOC are so popular. Whenever you tell people like hey you deserve to have free healthcare, you deserve a free education, that’s very attractive to some people right? And. For me not so much.

I just have the attitude of like I’m going to work for everything that I get but I do believe in some kind of society where we take care of each other, but where do you draw the line? I don’t know.

Last thing, what’s your your quick answer to your buddy from high school asking you about Bitcoin?

I say it’s super interesting. I think it’s the future and you should only buy an amount that if it went to zero you wouldn’t care about.

Follow Chris here 

Remember, Crypto is Coming!

Interview With Promether CEO – Eijah talks privacy, crypto, blockchain, POS vs POW

Crypto Is Coming had the pleasure of speaking with Eric “Eijah” Anderson of Promether, a decentralized privacy network that implements networking, security, and anonymity code solutions for apps and platforms.

Eijah is a hacker with 20 years of software development and security experience. He’s the creator of Demonsaw comms platform and was the lead developer at Rockstar Games and Activision. Eijah and Operations and Marketing Officer Elton Brauer took the time to discuss the Promether project and the space in general.

Why build Promether?

Promether was created to provide alternative solutions to the traditional centralized, surveillance-driven networking model, as well as to combat the scalability and privacy issues that most blockchains and decentralized networks face. Due to a variety of problems with both proposed models, we saw the need for a new solution that merges innovative blockchain technology, efficient decentralized networks, and state-of-the-art encryption protocols to provide more security, privacy, and scalability, while also giving power and control back to the users.

How would you describe the blockchain and cryptocurrency industries in terms of pain points and potential? (Elton)

Honestly, there is a lot of great innovation happening in the cryptocurrency and blockchain space (we are on the verge of potentially redefining how literally everything works digitally), but it is often overshadowed by the even greater amount of scams, manipulation, thefts, and fraud. For those reasons, it is very difficult to stand out as a legitimate project in the space, because legitimate projects can’t (or shouldn’t at least) subject themselves to the same empty promises that the scam projects keep throwing around.

This creates unrealistic expectations in terms of development timelines as well as to how a real company is built from scratch – paradigm shifting technology is not created in 1-2 years. The real pain point is not with the technology (as that will always continue improving and be eventually figured out), but with the stain this space has due to all the unethical practices going on.

What is one fact you think would surprise the average internet user or tech consumer regarding surveillance? (Eijah)

In my opinion, the most surprising things about surveillance that most people don’t know is that it can be avoided with relative ease. Most of surveillance is accomplished by the use of a handful of extremely convenient products. The lie that we’ve been told is that this convenience requires the loss of control – this isn’t true. In fact, convenience can be increased beyond our current expectation without any further lost or degradation of control, and definitely without continued surveillance.

What is Promether going to change? (Eijah)

By creating layers of security, anonymity, and privacy on top of a decentralized incentivized system, we can redefine how people engage online, while solving the problems associated with the centralization of control. It is also extremely important to address the issues of privacy when it comes to our activity on transparent blockchain systems.

Having everyone’s records and transactions revealed in a way that could be traced back to the individual merely changes the shape and form of already existing surveillance. Promether (and Contact) is important because it allows the user to have full control over communication and engagement mediums, as it is not enough to have privacy for transactions only (privacy coins), we also need solutions where privacy is built into our daily activities online, such as storage, sharing, messaging, browsing, etc.

Is Promether an Enterprise level solution? (Elton)

Promether is developing cyber-security software for both businesses and consumers. We also aim to provide custom digital security solutions for enterprises based on their unique needs, helping with securing their networks/communications/files, adopting privacy-based solutions for operational needs, and much more.

We have a thorough strategy for B2B application, which will include both Contact, Promether, and any other applications built on the network in the future. We understand that often it is not the users who care about privacy and security, but the companies rendering services to them.

They are the ones under constant attacks where one misstep can mean a destroyed reputation and diminished user-base. To get customers to adopt privacy and security by default it is often smarter to not spend countless hours trying to educate them, but to make companies adopt our solutions so their clients get those features passed on as part of a standard practice.

How do you view the POS vs POW debate? and why did you choose POS?

The POS vs POW debate is a long one, in the end, one is not superior to the other with both having their benefits and drawbacks – it all depends on what kind of purpose the consensus mechanism serves. There is a difference between effectiveness and efficiency however, and the goal for Promether is to find a perfect balance. POS just offers more practicality as we want people to actually allocate their computing resources to service and provide utility to the network, not to focus on work with the sole purpose of winning the block validation lottery. We believe those resources can be put to a lot better use, which means that the network can also run with a lot lower “empty” energy consumption. Bitcoin can make POW work because the goal is to be a store of value, but if you are trying to run a performance and scalable network that focuses on speed and efficiency, POS services the needs a lot better. For dapps, PoS could mean lower gas fees as there are more transactions being made, as well as being able to harness excess computing resources to make dapps run smoother.

The centralization and rich get richer in POS argument is also not only applicable to POS, but also to POW. People think PoW is more decentralized because ownership is in constant fluctuation – when somebody owns 51% someone can always buy more computing power and force re-evaluation of ownership. In PoS, there is not much that can be done when someone owns 51%, as the percentage always represents a fraction of the total supply. However, practice has shown that while this argument is theoretically true, reality is completely different. The goal of decentralization in PoW has failed with only big players being able to compete, giant mining pools controlling large % of the entire network, etc. Entities have invested billions of dollars into ensuring their mining operations enable them to mine more coins and maintain control. All in all, POW rewards doing hard work correctly, while POS punishes doing easy work incorrectly. The outcome is similar in a lot of ways.

Could you foresee people running nodes for POW coins like Bitcoin or Monero on this? (Eijah)

Absolutely. We’re just now at the forefront of the next wave of decentralized revolution. Mesh nets require that nodes to both be lightweight and agile, hence the ability to be run on almost any platform/environment and by anyone.

There is no reason why the future of decentralized networks can’t be run off the surplus processing/networking power of everything from our cellphones to our electric toothbrushes. There is so much untapped computing power literally waiting to be used. And it’s all being connected online. Once this happens we will suddenly have at our disposal and seemingly infinite supply of computational power.
How do you balance building business vs protecting investors – do the economics behind PYRO (the Promether token) make sense for both investors and future users? (Eijah)

Promether is many things, but at its core it always has been and always will be a business. Yes, we build privacy-centric software. Yes, we are changing the world. But we are first a business and are committed to that end goal. The investors have put their faith in me, my team, our vision, and the ability to deliver a positive return on their investment. Therefore, the investors understand and appreciate that the most important thing the company can do right now is build out value in everything we do. Our vision, products, and roadmap are all important parts of the puzzle, delivering both short term and long term returns to those who put their faith in us from the beginning. Everything we do, whether its establishing a burn rate or planning product launches adheres to these core principles.

You’ve mentioned Promether can bypass the great Chinese firewall, can you elaborate on that? (Eijah)

It’s funny, because most people are shocked to learn that accomplishing great features of technology, sometimes things that were once deemed impossible, is much easier than most think. Every day, more and more traffic flows across the World Wide Web. And the majority of this traffic is in one of just a handful of protocols.

A lot of people are trying to beat the system by brute forcing it, that is, going against the flow. They create new and complex protocols that are easily detected and thwarted. But this isn’t how nature (or real life) works.
The key is to become something greater than the sum of all parts. Animals learn to evolve by not dying – to accomplish this they usually do one of two things: 1) hide, and 2) disguise themselves as something else. Animals that choose to hide blend into their surroundings, like a cloaking shield on Star Trek. Animals that disguise themselves pretend to be something that they are not in order to accomplish a task that would have been impossible otherwise, such as masking a warp core signature to appear like a Klingon Bird of Prey. Why can’t we do the same with software? We can, and we do, with Promether. 😉
CONTACT
The Promether team sent us some screenshots of their upcoming mvp release of  CONTACT messaging app. The cutting edge communications app is currently in alpha testing and should be ready before Promether goes to public market for financing.
You can read more about Promether on their website and stay up to date with project developments via Twitter and Telegram.
Follow us on Twitter too for more exclusive cryptocurrency interviews and market-moving news.
Remember – Crypto is Coming!

Will Socialism lead to mass crypto adoption

Bitcoin was developed and launched anonymously, with no specific political manifesto attached to it. It’s likely that the creator or creators hid their identity not just to protect themselves, but to further eliminate centralizing points of weakness that could be used to divide a community. The technology is clearly focused on reducing the role of government and eliminating its control of the monetary supply as well protecting personal sovereignty and control over one’s own money.

Ten years later and the cryptocurrency is being held as a beacon of hope by libertarians and Austrian economists. Libertarians are most typically associated with cryptocurrency due to the fact that it places a high value on personal freedom and autonomy . Bitcoin has long been seen as a tool that could help disempower banks and governments and allow people to live in economic freedom (although how exactly that would work is yet to be established). For their part, Austrians love the fact that it reduces the role of government in society.

Many Bitcoin critics will say that it has yet to establish any utility or use case that, as if digital scarcity weren’t hugely important to the world already, while others say that no one is currently using it and adoption may never happen. The latter may be true, too early to tell yet, but it’s possible that a somewhat new and potentially powerful political movement in the West may be the the thing that creates mass Bitcoin adoption. The youth socialist movements currently gaining traction in countries like the United States may inadvertently  accelerate this very thing.

Politicians like Alexandra Ocasio-Cortez are championing a new socialist movement in developed nations mostly fueled by an unsatisfied and debt-ridden youth demographic. While politicians chose a short term fix in 2008 with massive bailouts and quantitative easing (printing more fiat currency) which inevitable led to more inflation and a bigger debt burden for future generations, the ideals of socialism understandably appeal to a young and naive class of citizens.

Proposals like AOC’s “Green New Deal” will become more common in the near future. While potentially well intentioned, appear to be lack foundations in economic reality and intend to be funded by “extended credit lines”, also known ass “printing more and more fiat money”, which lead to more inflation and more unrest…and on and on it goes until…well….

It’s becoming clear that the near future may be chaotic, but hopefully the world comes out of it better for it, with sound money as the basis for future economic systems

Bitcoin is Coming!

6 Benefits Of Forex Trading

6 Benefits Of Forex Trading

Experts believe that one should start investing in a young age in order to have a more stable future. One example of great investment ideas for young people includes starting a trading career in the Foreign Exchange Market or Forex. This involves purchasing various foreign currencies and then selling them for profit when the time is right.

Considering that the Forex market has endless opportunities and risks, here are some benefits that investors can expect in trading foreign exchange:

1. Highly-liquid market

Liquidity is the quickness of the trade activities of a platform, which means the higher the liquidity, the faster and better the trade quality. The Forex market is the largest and most liquid market in the world. It currently handles an average trading volume of about 5 trillion United States dollars which makes it a great starting point for most budding investors.

Since nearly every business requires currency to operate, one can expect that the demand for certain currencies will always remain intact even if market price fluctuates from time to time. Additionally, a highly liquid market makes it easy for investors to buy and sell financial assets with relative ease.

2. Provides opportunities to trade in different styles

There are different types of traders, all depending on the personality of the person doing the trade. What makes trading Forex so appealing is that it provides opportunities for different traders and styles, even those interested in cryptocurrency. Depending on how you like to approach your capital, certain traders can trade by either of the following:

  • Keeping long positions – this includes keeping a certain position in the market for indefinite period of time before selling it which results in creating a stable profit in time. This strategy is a classic technique for conservative traders.
  • Utilizing short-term techniques – such as scalping and day trading which allows traders to make a profit within a shorter period of time. This strategy is a favorite for traders who wish to work in a high-paced environment.

Additionally, one can also utilize different strategies simultaneously during work which makes it one of the most versatile financial markets of the world.

3. Allows trading on leverage

One of the many issues that people have with starting investments is capital. Capital is funding that’s required for the business or trade to operate effectively. There are many kinds of capital like operational capital, startup capital and others. One of the many benefits of trading in Forex is that foreign exchange investors do not need to start with a huge capital to trade foreign currencies. In fact, one of the benefits of starting a career in the market is that it gives one the chance to trade on leverage.

Leverage is the trade unit of currency in the platform. To illustrate leverage, you can imagine a 100 to 1 ratio, which means that your 100 USD will allow you to trade 10,000 USD worth of credits. This kind of leverage allows traders to start even with low capital; however having a high leverage ratio is risky as well. This involves starting with minimum capital and placing their trade in a favorable position. Should the market work with you, you can then make a nice profit out of it. Make sure you learn to manage your capital and credits wisely.

On the downside, leverage can also work against you if you are not careful, which could result in incurring losses. Beginners are advised to start with a 2:1 ratio and move up once they’ve gotten enough experience and control.

4. Readily accessible

The Forex market deals with various currencies that can be found around the world. As such, the market makes it a point to provide easy access to traders no matter where their location is and what time it is. To better accommodate traders, the market itself is open 24 hours a day, 5 days a week which gives investors plenty of time to find endless opportunities.

Additionally, even if the market is closed for the day, investors can still gain access to the market’s price fluctuations which makes it a lot more versatile compared to handling other financial assets. Another instance that makes Forex readily accessible is that it offers mini and micro trading accounts for investors with different budgets. Some of which usually have a deposit fee of only 25 USD.

Aside from the availability of the Forex market itself, most trading brokers and platforms have created mobile applications so experienced traders can do their trades on their mobile devices at any time.

5. Offers numerous resources

Considering that there are endless opportunities and risks in the market, various companies often provide numerous resources and tools that help budding investors gain the necessary skills to succeed. One example of which is the inclusion of demo trading accounts in certain platforms. This feature works by providing a real-life simulation on what it’s like to trade currencies in the market. This gives novice traders and strategy makers insight on what it’s really like to work in the market thus making it easier for them to start trading live.

6. Provides various learning opportunities

Aside from gaining a set of skills needed to succeed in trading, budding investors who trade Forex can expect a lot of learning opportunities that they necessarily can’t find anywhere else. Some of which include:

  • Financial planning such as knowing how to work with minimal capital and using it to your advantage.
  • Financial literacy such as knowing how to handle your money responsibly so that you won’t easily lose the money that you gain.
  • Risk management such as understanding how to reduce your chances of possibly losing some of your money
  • Price fluctuations such as understanding how certain factors like social, political, and environment issues can affect a currency’s value.

Plus other unique experiences that can help one realize their mistake and learn from it.

Conclusion

When executed properly, trading foreign currency can be a great way to make extra income. As the world’s economy becomes more globalized than ever, experts believe that now is the right time for young investors to start their career so they too can take advantage of the market’s numerous benefits.

Experts believe that one should start investing in a young age in order to have a more stable future. One example of great investment ideas for young people includes starting a trading career in the Foreign Exchange Market or Forex. This involves purchasing various foreign currencies and then selling them for profit when the time is right.

Considering that the Forex market has endless opportunities and risks, here are some benefits that investors can expect in trading foreign exchange:

1. Highly-liquid market

Liquidity is the quickness of the trade activities of a platform, which means the higher the liquidity, the faster and better the trade quality. The Forex market is the largest and most liquid market in the world. It currently handles an average trading volume of about 5 trillion United States dollars which makes it a great starting point for most budding investors.

Since nearly every business requires currency to operate, one can expect that the demand for certain currencies will always remain intact even if market price fluctuates from time to time. Additionally, a highly liquid market makes it easy for investors to buy and sell financial assets with relative ease.

2. Provides opportunities to trade in different styles

There are different types of traders, all depending on the personality of the person doing the trade. What makes trading Forex so appealing is that it provides opportunities for different traders and styles, even those interested in cryptocurrency. Depending on how you like to approach your capital, certain traders can trade by either of the following:

  • Keeping long positions – this includes keeping a certain position in the market for indefinite period of time before selling it which results in creating a stable profit in time. This strategy is a classic technique for conservative traders.
  • Utilizing short-term techniques – such as scalping and day trading which allows traders to make a profit within a shorter period of time. This strategy is a favorite for traders who wish to work in a high-paced environment.

Additionally, one can also utilize different strategies simultaneously during work which makes it one of the most versatile financial markets of the world.

3. Allows trading on leverage

One of the many issues that people have with starting investments is capital. Capital is funding that’s required for the business or trade to operate effectively. There are many kinds of capital like operational capital, startup capital and others. One of the many benefits of trading in Forex is that foreign exchange investors do not need to start with a huge capital to trade foreign currencies. In fact, one of the benefits of starting a career in the market is that it gives one the chance to trade on leverage.

Leverage is the trade unit of currency in the platform. To illustrate leverage, you can imagine a 100 to 1 ratio, which means that your 100 USD will allow you to trade 10,000 USD worth of credits. This kind of leverage allows traders to start even with low capital; however having a high leverage ratio is risky as well. This involves starting with minimum capital and placing their trade in a favorable position. Should the market work with you, you can then make a nice profit out of it. Make sure you learn to manage your capital and credits wisely.

On the downside, leverage can also work against you if you are not careful, which could result in incurring losses. Beginners are advised to start with a 2:1 ratio and move up once they’ve gotten enough experience and control.

4. Readily accessible

The Forex market deals with various currencies that can be found around the world. As such, the market makes it a point to provide easy access to traders no matter where their location is and what time it is. To better accommodate traders, the market itself is open 24 hours a day, 5 days a week which gives investors plenty of time to find endless opportunities.

Additionally, even if the market is closed for the day, investors can still gain access to the market’s price fluctuations which makes it a lot more versatile compared to handling other financial assets. Another instance that makes Forex readily accessible is that it offers mini and micro trading accounts for investors with different budgets. Some of which usually have a deposit fee of only 25 USD.

Aside from the availability of the Forex market itself, most trading brokers and platforms have created mobile applications so experienced traders can do their trades on their mobile devices at any time.

5. Offers numerous resources

Considering that there are endless opportunities and risks in the market, various companies often provide numerous resources and tools that help budding investors gain the necessary skills to succeed. One example of which is the inclusion of demo trading accounts in certain platforms. This feature works by providing a real-life simulation on what it’s like to trade currencies in the market. This gives novice traders and strategy makers insight on what it’s really like to work in the market thus making it easier for them to start trading live.

6. Provides various learning opportunities

Aside from gaining a set of skills needed to succeed in trading, budding investors who trade Forex can expect a lot of learning opportunities that they necessarily can’t find anywhere else. Some of which include:

  • Financial planning such as knowing how to work with minimal capital and using it to your advantage.
  • Financial literacy such as knowing how to handle your money responsibly so that you won’t easily lose the money that you gain.
  • Risk management such as understanding how to reduce your chances of possibly losing some of your money
  • Price fluctuations such as understanding how certain factors like social, political, and environment issues can affect a currency’s value.

Plus other unique experiences that can help one realize their mistake and learn from it.

Conclusion

When executed properly, trading foreign currency can be a great way to make extra income. As the world’s economy becomes more globalized than ever, experts believe that now is the right time for young investors to start their career so they too can take advantage of the market’s numerous benefits.

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Interested in more crypto content? Check out 6 Benefits Of Forex Trading and Weekly Cryptocurrency watch: Bitcoin (BTC), Litecoin (LTC) and Ethereum (ETH)

A Beginner’s Guide in Cryptocurrency Investing

One of the most popular financial assets to invest in right now is cryptocurrency. These assets are created with blockchain technology that more or less serves the same purpose as traditional money including purchasing items. Like foreign exchange, crypto coins can also be traded for other currencies for profit.

While there are some critiques about its stability, there’s no doubt that many financial institutions are slowly warming up to the idea of trading crypto coins with security assets and regulations already in the works of various governments and financial institutions. Cryptocurrency investing is really something that traders all around the world are considering.

To start a probable career, here’s a guide on cryptocurrency investing for beginners:

What is Cryptocurrency?

Cryptocurrency or crypto coins are digital coins that serve the same function as traditional money which can be used to purchase items and other assets. However, unlike traditional coins, crypto coins don’t have a physical form and instead are run by blockchain technology.

Blockchain is like a digital ledger where it comprises of the coin’s entire history including its transactions from the very beginning.

When it comes to storing your cryptocurrency, you would also need a wallet much like your own local currency. However, crypto coins are different from traditional money because it’s decentralized, which means that no single authority is responsible for its circulation. Its unregulated and decentralized nature contributes to its volatile and fluctuating value, but it also means that it’s open for everyone to invest into.

What are the different kinds of cryptocurrency?

According to Coin Market Cap, there’s at least 2,125 crypto coins currently available in the market. However, not all crypto coins are the same since certain types are more in demand than others. To start, here’s a list of the most commonly traded crypto coins today:

1. Bitcoin (BTC)

Bitcoin or BTC is considered as the original cryptocurrency, Bitcoin uses blockchain technology to make transparent transactions between parties. While they’re easily accessible, their features are also secured by an added algorithm which prevents malicious hackers from destroying the blockchain feature.

Bitcoin is considered to be the predecessor of all other cryptocurrencies, which is why the other crypto coins are called altcoins or alternative coins. Basically, these are alternative currencies to Bitcoin; however, these altcoins aren’t inferior in terms of blockchain technology and usability or function.

2. Litecoin (LTC)

Litecoin or LTC is an alternative of BTC which includes starking differences in features. Some of which include:

  • Faster transaction speed
  • An 84 million limit
  • A different algorithm called scrypt

3. Ethereum (ETH)

Ethereum or ETH are digital coins primarily focusing on running and validating the programming code of any decentralized application, allowing it to be used in paying fees and other services on its own network. Ethereum is the most commonly used coin when dealing with ICOs or Initial Coin Offerings because its blockchain technology allows the use of smart contracts.

4. Ripple (XRP)

Ripple or XRP is a unique hybrid that is both a cryptocoin and a payment network for various institutions. They allow any currency to be exchanged which can range from USD, EUR, and even gold to connect to banks. However, unlike other crypto coins, Ripple doesn’t focus on peer-to-peer sharing but instead on moving sums of money to a larger institution.

Each of which share similar decentralized nature but have different components for several purposes.

How do I start investing in cryptocurrency?

After deciding on which cryptocurrency you should start dealing with as well as researching on the different investments you want to make. Here are the steps you need to start:

1. Start exchanging from platforms where you can buy crypto coins

Depending on the country you’re from, there are various sites that allow you to purchase Bitcoin, Ethereum, and other digital coins. Before starting, make sure it’s legal in your country since certain governments are still wary of trading crypto coins. If you can’t find sites that sell cryptocoins, consider peer-to-peer platforms like:

  • PayPal
  • Payza
  • Payoneer

Some Forex platforms also allow cryptocurrency trading so be on the lookout for those, as well.

2. Secure your coins in your cryptocurrency wallet

A cryptocurrency wallet is software that allows you to store your digital coins. Certain wallets also contain features like advanced security, key generation and easy transfer. Like cryptocurrency, digital coin wallets also come in different categories such as:

  • Software wallets – these are downloadable programs that are required to be installed in your computer or device.
    • Desktop – desktop wallets are software wallets that allow you to store your crypto coins in your laptop or computer. Certain wallets may contain online features although most desktop wallets don’t.
    • Online – online wallets are cloud software wallets that require internet connection so you can access your account as well as make various online transactions.
    • Mobile – these wallets are downloadable mobile apps that allow you to check your balance and other transactions on your phone everywhere you go.
  • Hardware wallets – unlike software wallets, hardware wallets are physical storage devices used to store some of your keys. They’re versatile and can be connected online although many are often used to keep investments away for a long time.
  • Paper wallets – are offline software that allows users to store their keys, generate copies, as well as store their cryptocurrency addresses on paper.

Each wallet serves a specific purpose depending on the investment you intend to do. The wallets also vary in price, functionality and security. The more you use your cryptocurrencies, the hotter your wallet should be. If you prioritize security and long-term use above all else, invest in a durable hardware wallet.

Conclusion

Cryptocurrencies are considered a hot investment item because they possess the convenience of today’s technological innovation. With so many options available, many investors can expand their portfolio by choosing more than one kind of coin. To avoid risks, investors should also invest in security items to keep their assets safe.

crypto is coming!

Interested in more crypto content? Check out  and Why Privacy Coins are important in 2019 and beyond