Introduction to Cryptocurrency

Many People are interested in knowing what cryptocurrency is. Probably, you must have heard about Bitcoin or Ethereum or any other cryptocurrency. You may also have heard that some people make money in cryptocurrency but don’t know where and how to start. This E-book is compiled for people who have zero knowledge in cryptocurrency and are willing to interact with or invest in it. I am going to make my explanation as simple as possible for easy understanding.

What is Cryptocurrency?

Think of Cryptocurrency as a digital or virtual cash just like your paper or fiat currency but created with a software program. It is the democracy of money. The Money of the people, by the people and for the people. It is not backed or issued by any government. You can use it to purchase anything, pay for goods and services and even air flight tickets wherever the cryptocurrency is accepted. But there is no way of explaining cryptocurrency without a basic knowledge of Blockchain. Since cryptocurrency is the democracy of money, it means anyone can create cryptocurrency for personal purposes e.g (business, investment, social, recreation game or loyalty rewards) If your purpose is strong enough to convince people, they will adopt your currency and spend it within your ecosystem.

Blockchain is the technology that creates cryptocurrency, The first Cryptocurrency ever invented was Bitcoin in 2009. Blockchain has been referred to as a “technology without a single point of error” meaning that it cannot be destroyed, it cannot be tampered, and it is very efficient. Today we have over 3000 cryptocurrencies. You can get a list of them on coinmarketcap.com Although, Blockchain has many other uses and applications apart from cryptocurrency but for the purpose of this intro, we are focusing only on cryptocurrency. The total money invested in cryptocurrency worldwide as at today is $110 billion dollars. Compared to stock markets and forex markets that has trillions of dollars invested. Cryptocurrency is still in its infant days. Even after 10years of inventing the first cryptocurrency.

Why Should you Know about Cryptocurrency?

The reason you should know about cryptocurrency is very simple.

1. The world is rapidly evolving and for you to remain relevant, useful and competitive you need to know about cryptocurrency. The fact remains that there is nothing new under the sun, but innovations rules the world. Conducting your business in a flexible and advanced manner could make your competitor go out of business. No matter what business you do. You can start accepting cryptocurrency as a form of payment and educate your customers on how to use it. Especially in this part of the world where people love effizy and packaging. You need to package your business well to outpace your competitors.

A friend recently had an experience on inter-state road trip where he bought some fuel into the car with his atm. The attendant supplied the POS machine and the transaction was smooth. After the transaction was completed, he received a notification as usual that the amount had been deducted from his balance, so he continued his journey. He arrived at his destination and by the second day he got another notification of bank reversal. The money he initially paid the previous day was returned to his account and he couldn’t even remember which fuel station he patronized. Now this single error of POS reversal could run down the entire filling station. Just imagine a situation where about 500k to 1m transaction took place that day and every single transaction was reversed due to POS errors. This can happen to any business but with cryptocurrency, Payments are final and cannot be reversed. No matter the business you do, even if it is as small as selling a recharge card. You can accept cryptocurrency safely.

1. You need to know that cryptocurrency is simply money and avoiding it is the same thing as avoiding money. If you understand this clearly, it simply means that as our society pursue a cashless environment, the knowledge of cryptocurrency will grow, and it “may” eventually be legalized Just as it has been legalized in Japan as a legal tender. Over 260,000 stores accept bitcoin as means of payment.

2. You need to know about cryptocurrency because it provides opportunity for you to make your dreams a reality. The rest of your success depends on how large your dreams are and your willingness to pursue them. Cryptocurrency is the tool you need, It depends on how you use it.

Why is Cryptocurrency Profitable to Invest in?
Cryptocurrency is profitable because:

1. It operates on demand Vs supply law. The more the demand the higher the price. The larger the supply the lower the price.
2. It is limited in supply, for instance there will only be 21 million bitcoins to be mined o spread over few years. Presently, 16 million bitcoins are already mined, and we have just 5 million more to be mined. Remember bitcoin was priced $0.01 when invented in 2009. Now 1 Bitcoin is = $3500. If you invested $100 in 2009, you would have bought 10,000 bitcoins and would be worth $35million today. Just imagine when the total bitcoin is mined and just 10% of the world population adopts it. We could see bitcoin priced at $100,000/btc.
3. Less than 1% of the world population presently understands how bitcoin/blockchain works and there is going to be a massive adoption by the time the whole world is aware of its usefulness.

THREE WAYS TO MAKE MONEY FROM CRYPTOCURRENCY.

1. MINING: The first and best way you can make money from the cryptocurrency space is to invest in mining companies.
   Just like Oil fields where oil is mined in Nigeria. Bitcoin and other cryptocurrencies are equally mined with technology and this requires very high capital-intensive facilities. Some mining companies sprang up offering a share of their pool to individuals to raise enough money to buy equipment to mine bitcoin and other Cryptos. If you invest in REAL mining companies, you're sure to make money and your investments are secured.

2: TRADING: You can also make money trading Cryptos on exchanges just like forex. What you do here is that you buy coins when the price is low and sell when the price is high. You can make as much as 100% or more depending on your trading strategies and conditions of the market. Being a trader is not an easy task as you need to learn all the rudiments or else you might end up losing money. However, I have some resources that would help in this regard

1. ICO: This mean Initial Coin Offerings. This is normally issued by a new company raising funds for potential profitable businesses. These coins go through periods of pre-sale and eventually the normal crowdsale period. The Pre-sale period is when you are offered bulk purchase at a very cheap rate. While the crowdsale period is when you can purchase any amount at a slightly higher price. Once the ICO is ended. The coins would normally be tradable on exchanges, some coins would appreciate further while some would depreciate further. Projects that are actually able to deliver on their promises, gain more adoption and price rise while many who fail to deliver good products or convince people for usage drops in price causing loses for investors.

NOTE: All these businesses requires time to mature and may take months or even years before you gain the maximum benefits. It’s important you should be patient enough as there is no get rich quick business anywhere on the planet. However, trading is much faster and more profitable but also has the same amount of risk. If you have any questions about an investment you would want us to verify for you, you can do that in our public group and you’ll be answered accordingly.

Disadvantages of Cryptocurrency.

Even though Cryptocurrency is invented by a technology that has no single point of error “Blockchain”, yet it does carry its own risk due the way humans interact with it and use it.

1. You can lose your money in your wallet: Yes this is quite possible not because it is susceptible to hacking but because You “the user” are careless with your credentials such as passwords and private keys.
2. You can lose your money on investments: You have to be careful the kind of ICO you invest your money in. Some Projects have are just non-practicable ideas. This is a red flag. Do your own research and consult crypto groups to seek their opinion before making your investment decision.
3. You can lose money simply by Holding cryptocurrency: The cryptocurrency market is highly volatile, so you may lose money holding a lot of crypto in your portfolio.

Possible Solution

(i) Always backup your wallet and make use of wallets you control the private keys. So even if you lose your phone or laptop, you will still be able to recover your funds.
(ii) Never click on an external link that leads you to your wallet webpage. These links may come in forms of email or group messages telling you to upgrade wallet or threatening some harm to your wallet.
(iii) Always bookmark your web wallet website. So you won’t open a phishing website that wants to steal your credentials.
(iv) Always use mobile wallet or mobile apps when available and be sure you downloaded the right mobile app
(v) Avoid keeping your wallet private keys on your computer. You either write it down or store it online on encrypted cloud server such as Evernote, Google Drive or Safe Cloud.
(vi) Instead of holding a lot of cryptocurrency that may depreciate anytime. You can become a trader. You sell to others making some profits and buy back at cheaper price.
(vii) You can protect your funds against losses by holding a stable cryptocurrency and waiting for favourable time to buy and sell.

Getting Started with Cryptocurrency.

Now that you’ve known that cryptocurrency is the future of money despite its pros and cons, and you’re ready to get started with it. How do you go about it?

1. Set up your goals, you may save 5 to 10 % of your monthly income in cryptocurrency.
2. Become a crypto trader, because most people now make international transactions using bitcoin and other cryptocurrency because the transaction fees are very low and delivery is almost instant. Compared to western union or money gram. Demands can come for your stock anytime and the larger the demands, the higher your profits.
3. Follow cryptocurrency groups, news and projects. Don’t get tired of filling online forms for airdrops of new cryptocurrency coming on. (airdrops are free coins you can exchange for real cash when the project is officially released, and coin get listed on exchanges)

How can I help you make money in cryptocurrency?

The best way I can help you is to provide you with the basic knowledge of cryptocurrency. Cryptocurrency world is a world of innovations and opportunities. As you get enlightened you may find better ways to make money than I can offer you. “So, think outside the Box”
However, I have good news for you.
You buy your first crypto starting small. There are cryptocurrency exchanges where you can buy and sell your crypto. These exchanges are divided into two types. We have centralized exchanges and peer to peer exchanges. Centralized exchanges require you to leave all funds and security of your funds to their care. These centralized exchanges have often reported hacks leading to losses of millions of dollars of their users. However, A peer to peer exchange only connects buyers and users together and operates as an escrow. The buyers and sellers conduct transactions based on their own terms of trade and only pays less than 1% fees to the platform.
That’s where we come in, iP2PGO was born with an intention to give you control of your own cash while keeping your crypto trade safe through an escrow mechanism. You also have control of your trade, we don’t operate a central limit order book so our order book is transparent, therefore you choose whoever you want to trade with and at the price you want to trade.

iP2PGO has successfully launched iP2PGO App in Australia, China, Indonesia, Malaysia, Vietnam, Nigeria, Ghana, South Africa and Tanzania (with more countries to come),
Even though less than 1% of the world population presently knows about bitcoin, Yet, Nigeria is not a small player. Nigeria is recorded to be the 7th largest trader of cryptocurrency with last year volume totaling at $250 million. This volume is still relatively low as the figures are sure to rise this year and the years ahead. This mean even if you and I have missed to buy bitcoin at $0.01 when it was invented in 2009. There is still a lot of opportunities ahead.

iP2PGO as explained is a peer to peer exchange that shares its wealth among its users. Its referral program is one of a kind you cannot experience on other exchanges. This is how you can make money on iP2PGO, after you sign up on the platform, you will be given a referral link. This link is what you use to invite others to sign up and trade as well on the platform. For every trade taken by your referee, You earn up to 30% from the transaction fees the platform charges. Not only that. You referral is so potent that it will only expires at the 9th generation. This means that when you invite someone

iP2PGO tokens will be released on 15th of December, iP2PGO tokens is our exchange tokens that will enable users of our exchange to get 10% discount on trading fees when paying with iP2PGO tokens. If you buy and hold enough tokens. You will receive 30% of net profits made from trading fees daily and can be withdrawn and traded for cash daily. This is a great opportunity as the price will be sold for $0.01 when released on the 15th of December. This can provide passive income for holders of iP2PGO tokens. This is a community of wealth creation as the community grows, the income of its users grows as well. By Joining iP2PGO community, its like setting up your own personal business. You also have the responsibility of educating others and making them see the reason to partake in this community. Its like setting up your personal business, as you grow your network, you can earn begin to earn #5000 to #10,000 daily on trading commissions as determined by trading volume of your network. I’ll encourage you to pick up some iP2PGO tokens and make the best use of this opportunity. The sky is the limit of your earning potentials.
Register on our website: ip2pgo.com click on the dropdown menu to download the user guide pdf file. Follow the instructions to set up your account. If you need any help

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