Bitcoin 101
*The idea of cryptocurrency is simple: Some people rent their computers running specific software to verify and record all transacation on the network (blockchain) and they get bitcoin in return instead of US dollars.
*to make it easy it works some how like torrent files there is no server you download files directly from a network of online computers having the same file you are trying to download ( movie or music file) the file is available on their hard disk and they upload it to you using the torrent software
*Fiat is money such as US Dollars, Euro
*1 US Dollar = 100 cents
*1 Bitcoin = 100,000,000 Satoshi
*You can buy fractions of one bitcoin (You can buy 0.0001 bitcoin which is 1 US dollar worth of bitcoin you don't have to buy a whole coin)
*Bitcoin is the 1st cryptocurrency anything else called altcoin
*There are more than 1000 coins out there some called tokens
*tokens are projects based on blockchain
(Ethereum is a platform you can program your own token based on it)
*Ethereum is the 2nd biggest cryptocurrency, consider Ethereum just like operating system (windows) you can program your new token based on it.
*Every single coin has a unique wallet
*You can keep your coin in your private wallet or in the exchange wallet
*Only send and receive like-coins. Meaning, you can only send/receive Bitcoin-to-Bitcoin, Litecoin-to-Litecoin, etc (you can’t for example send Bitcoin to an Ethereum wallet).
How to start?
1-Create accounts on Exchanges:
2-Install Google authenticator app on your phone (Secure your accounts using Google authenticator)
Fiat to Bitcoin exchange
https://www.coinbase.com/join/5982198d83ace300ab0ba41b
https://www.bitstamp.net
https://cex.io
Bitcoin to Altcoins exchange
https://www.binance.com/?ref=10816918
https://www.cryptopia.co.nz/Register?referrer=abdullahmohi
https://bittrex.com
https://hitbtc.com
https://www.kucoin.com
https://yobit.net
Ethereum tokens only non-user-friendly
https://www.myetherwallet.com **create Ethereum private wallet
https://etherdelta.com **decentrlized exchange
3-Install Telegram app (almost every coin has a group to share and discuss everything about that coin)
4-Install Twitter app (Follow coins twitter)
5-Create new email (Never use the same password)
6-Create account on https://www.linkedin.com (helps to know more about teams and their projects)
7-Don't buy all time high buy the dip (buy when the coin is down 50-60% or more from the all time high) this is the best time to buy a coin
8-USDT (tether) it's a coin has the same price of 1 US Dollar you can store your profit or make stop loss orders to prevent loss when market is losing value
9-Diversify never but your money in one coin
10-50% from your investment should be in top 10 coins 30% from 11-50 coins and then 20% for the low cap coins
11-you have to be familiar with all that words (Market Cap, Circulating Supply, Total Supply, Max Supply, Volume (24h)
12-Don't buy all stack at once (Dollar cost your buying means don't buy with all your money in one day buy 10% every week or every two weeks)
13-Don't sell your all stack at once
13-Sell half of your bag on 2x and then go on a free roll
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The cryptocurrency Investor / Trader starter pack: (Bookmark all of them)
Overview:
https://coinmarketcap.com/all/views/all/
https://coinmarketcap.com/coins/views/all/
https://coinmarketcap.com/tokens/views/all/
https://coinmarketcap.com/new/
THE place for Information:
https://bitcointalk.org
Charts:
https://www.tradingview.com
Calendar:
https://www.coinmarketcal.com
Market speculation:
https://www.cryptomus.com
balance view:
https://www.blockfolio.com/
Tax calculations:
https://cointracking.info?ref=A316328
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Follow Youtube channels:
https://www.youtube.com/user/larksongbird01/videos
https://www.youtube.com/user/Suppoman2011/videos
https://www.youtube.com/channel/UCxODjeUwZHk3p-7TU-IsDOA/videos
https://www.youtube.com/channel/UCCatR7nWbYrkVXdxXb4cGXw/videos
https://www.youtube.com/channel/UC67AEEecqFEc92nVvcqKdhA/videos
https://www.youtube.com/channel/UCt_oM56Ui0BCCgi0Yc-Wh3Q/videos
https://www.youtube.com/channel/UCGyqEtcGQQtXyUwvcy7Gmyg/videos
https://www.youtube.com/user/Diaryofamademan/videos
https://www.youtube.com/user/LiljeqvistIvan/videos
https://www.youtube.com/channel/UCu7Sre5A1NMV8J3s2FhluCw/videos
https://www.youtube.com/user/obham001/videos
https://www.youtube.com/user/DavidHaydotOrg/videos
https://www.youtube.com/channel/UCry6pZNehIejCzPQjfvAaZA/videos
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Bookmark ico sites:
https://icobench.com
https://www.coinschedule.com
https://icodrops.com
https://coincodex.com
https://icostats.com
https://icomarks.com
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Follow Twitter accounts:
https://twitter.com/CoinHunt3r (My account)
https://twitter.com/cryptocode1
https://twitter.com/cryptomarsx
https://twitter.com/euromaestro
https://twitter.com/Coin_Shark
https://twitter.com/proof_of_steak
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Some Cryptocurrency terms:
HODL - misspelling of hold and it means keep; hold that coin and don't sell it
FOMO - fear of missing out; a recent example is Bitcoin Gold fork, because people started to buy bitcoin like crazy even if the price was very high at some points
FUD - fear, uncertainty and doubt; some spread FUD to crash the coin price
ATH - all time high - the highest historical price of specific coin
Whale - a person who has a lot of coins ( a substantial amount of capital ); he/she can influence the price by selling
Bag holder - a person who bought at around ATH and never sold and now he/she has a lot of worthless coins
Long - long position => assuming the value of the coin will be higher in the future
Short - short position => assuming the value of the coin will be smaller in the future
BUY/SELL Wall - limit orders of the same price target from a specific exchange
Altcoin - alternate coin; everything other than BTC
ICO - initial coin offering (crowd fund to help programers start their own projects)
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