Noob Guide to Crypto World

in #bitcoin7 years ago

So you are totally new to the crypto world and don't know how to start, no worries everyone was once a beginner.
I will list all the terms and resources you need.Things marked with * are the must-read, though I know you will read all the stuff anyway.

1- What is Cryptocurrency?

A cryptocurrency (or cryptocurrency) is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions, to control the creation of additional units, and to verify the transfer of assets.Cryptocurrencies are classified as a subset of digital currencies and are also classified as a subset of alternative currencies and virtual currencies.
read more-
Cryptocurrency wiki

2- What is Blockchain?

A blockchain is a continuously growing list of records, called blocks, which are linked and secured using cryptography. Each block typically contains a hash pointer as a link to a previous block, a timestamp and transaction data. By design, blockchains are inherently resistant to modification of the data. A blockchain can serve as "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way. For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks, which requires collusion of the network majority.
read more-
Blockchain wiki

3- What is bitcoin?

Bitcoin is a worldwide cryptocurrency and digital payment system called the first decentralized digital currency, as the system works without a central repository or single administrator.It was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009.The system is peer-to-peer, and transactions take place between users directly, without an intermediary.These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain.
read more-
Bitcoin wiki

4- What is altcoin?

Altcoins are cryptocurrencies other than Bitcoin. The majority of altcoins are forks of Bitcoin with small uninteresting changes. This page categorizes different ways altcoins have modified Bitcoin. There are more than 1000 altcoins now and the new ones are launching every day. Some prominent altcoins are Ethereum(ETH),Bitcoin Cash(BCH),Litecoin(LTC),Ripple(XRP)
read more-
Altcoin
List of cryptocurrencies

5- What is Mining?

Mining is the process of adding transaction records to Bitcoin's public ledger of past transactions (and a "mining rig" is a colloquial metaphor for a single computer system that performs the necessary computations for "mining"). This ledger of past transactions is called the blockchain as it is a chain of blocks. The blockchain serves to confirm transactions to the rest of the network as having taken place. Bitcoin nodes use the blockchain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.
read more-
Mining wiki

6- What is cryptocurrency exchange?

Digital currency exchanges (DCEs) or bitcoin exchanges are businesses that allow customers to trade digital currencies for other assets, such as conventional fiat money(INR, USD etc) or different digital currencies. They can be market makers that typically take the bid/ask spreads as transaction commissions for their services or simply charge fees as a matching platform.
read more-
Crypto currency exchange
Cryptocurrency Exchanges / Markets List

7- What is a Cryptocurrency Wallet?*

A cryptocurrency wallet is a software program that stores private and public keys and interacts with various blockchain to enable users to send and receive digital currency and monitor their balance. If you want to use Bitcoin or any other cryptocurrency, you will need to have a digital wallet.
read more*-
cryptocurrency wallet guide
bitcoin public-private keys

8- What are some most secure way to store my Bitcoins?

As a general rule, Bitcoin hardware wallets are the most secure form of Bitcoin wallets, however, unlike software wallets, they cost money. If you’re serious about securing your Bitcoins go for a hardware wallet. If however, you’re only storing a few amount of coins you can use one of the free software wallets
read more-
best bitcoin wallet comparison review
cryptocurrency safe wallets

9- What is Cryptocurrency Trading?

Cryptocurrency Trading is the Forex (Foreign Exchange) of cryptocurrencies. This means you are able to trade different bitcoin and altcoin normally for USD and BTC.
read more-
cryptocurrency trading
the cryptocurrency trading bible

10- Where can I buy or trade bitcoins in India using INR?

a)Koinex (bitcoin,ethereum,ripple,bitcoin cash,litecoin)
b)Coinsecure (Bitcoin Only)
c)Zebpay (only app based)
d)Coinome (Bitcoin Only)
e)BtcxIndia (Ripple Only)
f)EthexIndia (Ethereum Only)
g)Coindelta (Bitcoin, Ethereum, Litecoin, Omisego, Qtum, Ripple)
h)Pocketbits.in (Bitcoin, All major altcoins using shapeshift api(you can't buy altcoins through INR though, only convert one cryptocoin to other)
i)Unocoin (Bitcoin Only)

11- What are some international cryptocurrency exchange Indians can trade?

By registering in international exchanges we can buy and trade those altcoins which are not available in Indian exchanges moreover we can get altcoin cheaper prices and it also gives us an opportunity to arbitrage when price difference in the local and international market is very high.
You can't buy using INR in most of these exchanges, you need either Bitcoin, Ethereum or USD/EURO(which allows fiat), only a few exchanges accept Indian debit, credit card, and transaction charges are usually high, I will advise you to buy bitcoin, ethereum from Indian market, transfer it to international exchanges and trade.

a}Bittrex
b)Binance
c)Poloniex
d)bithumb
e)bitfinex
f)Etherdelta (For trading Ethereum based tokens)

List of major international exchange

12- What are some best sites to monitor market and news?

a)Coinmarketcap- you can get market capitalizations, prices, and other stats
b)Cryptocompare- same as above, it also includes online portfolio management and mining calculator
c)Cryptowatch- real-time price monitoring and stats for major international exchanges

Telegram bots- a)@binfobot b) @digubot
Indian bots who provide price of indian exchanges- a) @IndiaBitsBot b) @AllrounderBot

AllrounderBot is mine, do support it guys :)

News
a)Coindesk
b)Cointelegraph (They have telegram channel as well)
c}Cryptocurrency news
d)Cryptocoin news

Follow twitter official accounts of crypto coins, CEO's and influential people in crypto world, pro traders
top 20 bitcoin-related twitter accounts
Twitter accounts to follow

Follow popular Reddit/telegram channels regarding cryptocurrency

Technical Analysis-
bitcoin traders know-technical analysis
palmbeachgroup
tradingview

13- Which is the best app to manage my Cryptocurrency portfolio?

Blockfolio

14- What is an ICO?

Initial coin offering (ICO) is an unregulated and controversial means of crowdfunding via the use of cryptocurrency, which can be a source of capital for startup companies.In an ICO a percentage of the newly issued cryptocurrency is sold to investors in exchange for legal tender or other cryptocurrencies such as Bitcoin. The term may be analogous with 'token sale' or crowdsale, which refers to a method of selling participation in an economy, giving investors access to the features of a particular project starting at a later date. ICO's may sell a right of ownership or royalties to a project.
Read more-
Initial Coin Offering

15. How can I participate in an ICO?

To participate in an ICO, you need cryptocurrencies, usually Ether or Bitcoin. You cannot participate in an ICO with fiat currency. If you don’t own cryptocurrency, you will first need to buy some. The best way to purchase significant amounts of Bitcoin, Ethereum is through online exchanges. Transfer money from your bank account to your newly created account with a cryptocurrency exchange. Please note that the registration process might need some days due to strict KYC and AML regulation.
Read more-
how to participate in an ico
ico 101 how to participate in an ico made with ethereum
how to participate in an ico in 3 easy steps

16. How can I know of upcoming ICO?

ICO Countdown
Bitcointalk forum -Almost 90% of crypto startups make there first ICO announcement in this forum, there are lots of benefit in making an account in this forum which I will tell later.

17. How to know which ICO is good or bad?
Important* do read
10 keys evaluating initial coin offering ico investments
how to spot a great ico and leave a bad one alone
the ultimate list of resources for researching and launching icos
how to find your next cryptocurrency investment

18. Are ICO's safe to invest?

The Initial Coin Offering phenomenon has started to play a significant role in the crypto-startup world. Lately, more and more experts are looking to decentralized crowd-funding methods with interest.But, the absence of legal guidelines in the operation of these ICOs has resulted in more than a few scams. This is hardly abnormal for an entirely new, unregulated field; but, would-be investors, nonetheless, find it difficult to discern potential opportunities from grab-the-money-and-run schemes.
Read more*-
how not to be scammed by an initial-coin-offering
are ico's a safe class of investment
invest in ico pros cons

19. Are there many scams, fraud in Cryptoworld?*

A big Yes, but if you will be careful and read this guide your chances of getting scammed will become close to zero.

One Coin Scam
wikipedia founder many icos absolute scams
common cryptocurrency scam
Cloud Mining Scams
99% cloud mining sites are scams
Scam Site list
Another list

20. What is fomo, hodl and other lingos used by traders?
fomo fud pump dump trading caveats
what is fud hodl or fomo in cryptocurrency lingo find out more here

21. What are the benefits of making an account with bitcointalk?*

Its the most active forum about bitcoin, altcoin, a lot of influential developers, traders, investors are members in this forum.
It was started by nonother than bitcoin developer Satoshi Nakamoto and Co-developer Sirius, a.k.a. Martti Malmi
History
You can get the latest information about bitcoin, altcoin, ICO's, discuss and clear your doubts and can also earn cryptocurrencies through bounties and airdrop.

make money bitcointalk
how to make money on bitcointalk
What is airdrop
Airdrop alert

Some other important links-

a)Blockchain.info
b)My Ether Wallet
c)Etherscan
d)Ethplorer
e)Eth gas station
f)Bitcoin.org

I hope this resource will help you, If you have any questions or if i should add something here, do let me know, All the best for your crypto journey :)

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