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    Cryptocurrency. Your Ultimate Guide
    Cryptocurrency. Your Ultimate Guide
    Cryptocurrency. Your Ultimate Guide
    Ebook123 pages1 hour

    Cryptocurrency. Your Ultimate Guide

    By Dimitry Krasil

    ()

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    About this ebook

    Cryptocurrencies are not a sham. But it is a shame that most people are still confused about it. So, I’ve decided to do something about it... I will introduce you to and share my experience and know-how to cryptocurrencies, including Bitcoin, Litecoin, Ethereum, Monero, Ripple, Bitcoin Cash, NEM, Stellar, Dash, NEO, and many others.
    Here’s the key: The murky cryptocurrency marketplace desperately needs educated users who understand the ins and outs of the marketplace. And I’m proud to be one of the first to bring that benefit to investors and users to help you cut through the hype and to help you identify the few truly solid, most promising cryptocurrencies that merit your hard-earned money.
    If you’d like to be among the first educated consumers, please read my book.
    Wishing you good luck!

    LanguageEnglish
    PublisherDimitry Krasil
    Release dateJun 18, 2018
    ISBN9780463469927
    Cryptocurrency. Your Ultimate Guide
    Author

    Dimitry Krasil

    Cryptocurrency & Blockchain Consultant, Writer/Publisher at iNews Network, Author, Independent Contractor

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      Book preview

      Cryptocurrency. Your Ultimate Guide - Dimitry Krasil

      CRYPTOCURRENCY

      Your Ultimate Guide to Understanding the Exciting New Cryptocurrency Revolution of Blockchain, Smart Contracts, ICO, and the Future of Money. Everything You Need to Know to Make Money Through Investing, Trading, Mining, or Issuing Your Own Cryptocurrencies.

      Table of Contents

      From the author…

      Chapter I Basic definitions of cryptocurrency

      Chapter II Introducing the cryptocurrencies

      What are cryptocurrencies really?

      Cryptocurrencies are real money

      Virtual currencies (cryptocurrencies); what is the legal definition?

      Cryptocurrencies: Dawn of a new economy in its digital gold

      Chapter III What is a Blockchain?

      Chapter IV Why do we need the cryptocurrency?

      Chapter V Different Types of Cryptocurrencies

      Chapter VI Cryptocurrencies vs. Government

      Chapter VII Advantages of cryptocurrencies

      Chapter VIII What is a fork in cryptocurrencies?

      Part IX What is An ICO (Initial Coin Offering)?

      What’s is the downside?

      History of ICOs

      Are ICOs Legal?

      Chapter X What are Decentralized Application and DAO?

      DApps on the Ethereum Blockchain

      What is a DAO?

      Chapter XI Smart contracts

      Examples and ideas of how smart contract can be used

      Assassination politics

      Smart contract problems

      Blockchains with the power to process smart contracts

      Chapter XII Why is cryptocurrency valuable?

      Chapter XIII How to buy Cryptocurrency?

      Part XIV Where to store your coins?

      Chapter XV Investment strategy

      Part XVI How one can profit from cryptocurrencies

      Exploring new opportunities

      Chapter XVII Research

      Chapter XVIII The World of Cryptocurrency

      From the author…

      The cryptocurrency marketplace is one of the best drivers of wealth in the history of humanity. Even if, sometimes, as we recently saw it’s also susceptible to crashes. Some time ago, someone sold two Papa John’s pizzas for 10,000 bitcoins. Today, those same bitcoins are worth a fortune.

      Take another example of a teenager, who, when turned 13, received a gift of $5,000. Instead of investing it in stocks, he purchased Ethereum, which is the second most popular cryptocurrency. He grew it into his college fund of over $250,000 in less than two years.

      In another example, a 21-year-old fitness instructor purchased 5,190 coins of ether for next-to-nothing. Later, he went on vacation and forgot about it. Now, Ethereum is trading above $1,000 for each coin, and it means that his next-to-nothing investment is worth over $5,190,000.

      My neighbor’s son became interested in cryptocurrencies only several months ago. He invested $500 into one of the cryptocurrencies, and he already has a profit of over $30,000.

      The best part is that all of these amazing gains are nothing in comparison to the profits that can be made in recently released cryptocurrencies.

      If just two years ago, you purchased only $1,000 of the NEM cryptocurrency; today, you would have more than $2.4 million in your account. If you chose Dash, you’d do even better. $1,000 would turn into a nice junk of more than $8 million.

      By the way, that fortune could generate, even at only 3% annual interest rate, a nice income of $240,000 per year, or $20,000 per month.

      Is buying newly released cryptocurrencies a no-brainer? Not really. And it’s getting harder to choose because of the increasing amount of options. Also, many cryptocurrencies are very volatile and vulnerable to panic buying and selling. Actually, buying fever and sudden selling panics are normal day-to-day events in the cryptocurrency marketplace. There are currently no reliable, standard measures to quantify the value of each offer. It’s not easy, even for experts, to isolate diamonds from the rocks. So it’s even more difficult for the regular user and investor.

      Cryptocurrencies are not a sham. But it is a shame that most people are still confused about it. So, I’ve decided to do something about it… I will introduce you to and share my experience and know-how to cryptocurrencies, including Bitcoin, Litecoin, Ethereum, Monero, Ripple, Bitcoin Cash, NEM, Stellar, Dash, NEO, and many others.

      Here’s the key: The murky cryptocurrency marketplace desperately needs educated users who understand the ins and outs of the marketplace. And I’m proud to be one of the first to bring that benefit to investors and users to help you cut through the hype and to help you identify the few truly solid, most promising cryptocurrencies that merit your hard-earned money.

      If you’d like to be among the first educated consumers, please read my book.

      Wishing you good luck!

      Chapter I

      BASIC DEFINITIONS OF CRYPTOCURRENCY

      A cryptocurrency is a digital asset. It was designed to work as a medium of exchange (money), and it uses cryptography to secure transactions, as well as to control the creation of additional coins.

      Cryptocurrencies make use of decentralized technology to make it possible for users to make secure payments and keep their money without revealing their real name or going to a bank. They rely on a distributed ledger known as blockchain, which is the actual record of all transactions that the currency holders maintain and update.

      Bitcoin, Ethereum, Ripple, and Dash are some of the biggest names in cryptocurrencies today.

      Among the top cryptocurrencies, Bitcoin is the most popular. The Bitcoin transactions (as well as every other cryptocurrency) are recorded in a file or ledger. Each computer in a Bitcoin network must be furnished with a copy of the said file. The registered numbers don’t amount to anything in the real world. They only hold a specific value because there are people who are willing to trade their actual goods and services in exchange for a higher number on their ledger or account.

      Here is the list of some definitions used in this book, which should make it easier for many readers.

      Fiat currency - Legal tender, such as US dollars, Euros, Swiss Francs, or British Pounds.

      Market cap - Is the total value of all coins available multiplied by the price of each coin. Commonly used term to approximately measure the worth of the whole network.

      Exchange - A website used to buy and sell cryptocurrency.

      Smart contracts - Is a permanent set of commands written to a program that will complete the task automatically based on information received from trusted 3rd party data feed as the truthsayer.

      Node - A computer with a complete copy of the given blockchain. Any cryptocurrency network includes many nodes. Each node is verifying every transaction in the blockchain.

      Miner - A computer that packs transactions into the blocks and adds them to the blockchain.

      Chapter II

      INTRODUCING THE CRYPTOCURRENCIES

      A little history

      Cryptocurrency is a by-product of digital cash. In his announcement of Bitcoin on November 2008, Satoshi said he developed A Peer-to-Peer Electronic Cash System. His goal was to invent what many people failed to create before the invention of a digital cash system.

      The single most important part of Satoshi‘s invention was that he found a way to build a decentralized digital cash system. In the nineties, there were many attempts to create digital cash, but they all failed.

      After seeing all the other attempts fail, Satoshi tried to build his own digital money system without a central party. Same as in a torrent (Peer-to-Peer) network for file sharing.

      This decision brought us to the birth of Bitcoin. This was the missing piece Satoshi

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