Cryptocurrency trading for beginners
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CRYPTOCURRENCY<br />
TRADING FOR<br />
BEGINNERS<br />
THE COMPLETE GUIDE<br />
TO MAKING<br />
MONEY
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DISCLAIMER<br />
The writer of this book is no professional financial advisor; there<strong>for</strong>e please<br />
do your own research be<strong>for</strong>e you start investing or <strong>trading</strong>.<br />
This is a free eBook. You are free to give it away (in unmodified <strong>for</strong>m) to<br />
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No part of this eBook may be reproduced or transmitted in any <strong>for</strong>m or by<br />
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by any in<strong>for</strong>mation storage and retrieval system, without written<br />
permission from the author.<br />
The in<strong>for</strong>mation provided within this eBook is <strong>for</strong> general in<strong>for</strong>mational<br />
purposes only. While I try to keep the in<strong>for</strong>mation up-to-date and correct,<br />
there are no representations or warranties, express or implied, about the<br />
completeness, accuracy, reliability, suitability or availability with respect to<br />
the in<strong>for</strong>mation, products, services, or related graphics contained in this<br />
eBook <strong>for</strong> any purpose. Any use of this in<strong>for</strong>mation is at your own risk.
Welcome to the world of cryptocurrencies<br />
This eBook provides you all the necessary in<strong>for</strong>mation to start investing<br />
and <strong>trading</strong> in cryptocurrency. Please read till the end to make sure you<br />
dont miss any important tips and advice. Since you are reading this you are<br />
a newbie, so be<strong>for</strong>e Im going to teach you how to acquire cryptocurrencies<br />
you must try to understand what they are.
What is a cryptocurrency?<br />
A cryptocurrency is a digital or virtual currency designed to work as a<br />
medium of exchange. It uses cryptography to secure and verify transactions<br />
as well as to control the creation of new units of a particular<br />
cryptocurrency. Essentially, cryptocurrencies are limited entries in a<br />
database that no one can change unless specific conditions are fulfilled.<br />
(www.cointelegraph.com )<br />
The first and most famous cryptocurrency of all, Bitcoin, was introduced in<br />
early 2009 by an anonymous programmer of group of programmers under<br />
an alias Satashi Nakomoto. Its still unknown who is he is. Satoshi described<br />
it as a peer-to-peer electronic cash system, which is completely<br />
decentralized, meaning that there are now servers involved and no central<br />
controlling authority. These days there are over 1500 different<br />
cryptocurrencies. The best place to check their real-time prices is:<br />
www.coinmarketcap.com<br />
Whats more important to know is what you can do with cryptocurrencies.<br />
1. Buy goods. In the past trying to find a merchant that accepts<br />
cryptocurrency was extremely difficult. However, these days it has<br />
changed a lot. More and more merchants start to accept bitcoin and<br />
other crypto.<br />
2. Investing. Many people believe that cryptocurrencies are the hottest<br />
investment opportunity of this time. There are indeed many stories of<br />
people who turned millionaire with a small initial investment.<br />
However one should keep in mind that cryptocurrencies are<br />
extremely high-risk investments and that you should always do your<br />
own research.
3. Trading. The difference between investing and <strong>trading</strong> is that it takes<br />
a lot more active time and ef<strong>for</strong>t to trade cryptocurrencies. You need<br />
to spend a lot more time but the results can be seriously amazing, if<br />
you do it right. For more <strong>trading</strong> tips please read this eBook till the<br />
end.<br />
Now, I could bore you with some more in<strong>for</strong>mation about different use<br />
cases and legality issues but thats not the reason you are reading this<br />
eBook. You are here to make money, so we will cut the boring stuff and<br />
jump right to it. If, <strong>for</strong> some reason, you would like to know more boring<br />
things about crypto feel free to visit: www.cointelegraph.com<br />
How to acquire cryptocurrencies?<br />
Be<strong>for</strong>e you are able to invest or trade cryptocurrencies you have to convert<br />
your fiat (USD, EUR, ETC) into Bitcoin(BTC), Ethereum(ETH) or<br />
Litecoin(LTC). The best way to do that is to visit COINBASE. This exchange<br />
gives away bitcoins easily that is why it is user-friendly to first timers. You<br />
can now buy bitcoins using your PayPal and other major credit cards. It<br />
offers benefits and services such as purchase up to $1,000 worth of BTC per<br />
week, instant transfers among users, insured deposits, debit cards, welldocumented<br />
API, and wallet services.<br />
CLICK HERE TO OPEN AN ACCOUNT ON COINBASE<br />
AND GET $10 OFF<br />
See next page
Please make sure the URL looks like below. There are a lot of scams and<br />
hacks related to crypto so in order <strong>for</strong> you to be safe, ALWAYS check your<br />
URL.<br />
Once you have checked the URL click on SIGN UP of GET STARTED to open<br />
an account.<br />
Once signed up, you have to go to DASHBOARD
Click BUY/SELL and add a Payment Method. Be<strong>for</strong>e you are able to buy you<br />
have to verify your ID. COINBASE shows you exactly how you do that.<br />
If you have verified your ID and you have bought some BTC, ETH or LTC. Go<br />
to ACCOUNTS where you can Check, Send and Receive your funds.<br />
(To keep your funds safe I highly recommend you using 2FA)<br />
CLICK HERE TO OPEN AN ACCOUNT ON COINBASE<br />
AND GET $10 OFF<br />
Check the next page to see how YOU can start <strong>trading</strong><br />
and investing!
How to start <strong>trading</strong> and investing in cryptocurrency?<br />
Now you have acquired BTC, ETH or LTC, you can start <strong>trading</strong> and<br />
investing in any cryptocurrency you like. As I mentioned be<strong>for</strong>e there are<br />
over 1500 cryptocurrency. Mostly so called shitcoins. Im not here to tell<br />
you which ones are the best. In order <strong>for</strong> you to know that please do your<br />
own research. Im here to help you transferring your funds to an exchange<br />
so you can start making money. I highly recommend using BINANCE. This<br />
exchange offers a wide variety of crypto and is very user friendly, a perfect<br />
exchange <strong>for</strong> newbies.<br />
CLICK HERE TO OPEN AN ACCOUNT ON BINANCE<br />
Again make sure the URL is safe and genuine (veilig means safe)<br />
Create an account by clicking on the following tabs.<br />
Follow the steps BINANCE tells you to and verify your ID. You are now<br />
ready to deposit funds and start <strong>trading</strong>.<br />
Check the next page to see how YOU deposit
Now login into your account and go to FUNDS BALANCES.<br />
On the right side of your screen you find these different tabs.<br />
Go to BTC, ETH or LTC (dependent of which coin you bought on Coinbase<br />
and press DEPOSIT. The next screen pops up (BTC is taken as example).<br />
See next page
Make sure to copy the Deposit Address and go to COINBASE<br />
See next page
Go to ACCOUNTS and click on SEND in the BTC tab. (you can click on it if<br />
you have funds on Coinbase).<br />
In the next screen that pops up you have to paste the EXACT Bitcoin<br />
address you copied from BINANCE.
Paste the address, choose the amount and press CONTINUE. You might have<br />
to wait between a few minutes and a few hours. Dependent on how many<br />
transactions are being made at the time. Check your Binance account every<br />
15 minutes to see if your funds are transferred already.<br />
CLICK HERE TO OPEN AN ACCOUNT ON BINANCE<br />
How to buy other crypto?<br />
If your funds are transferred you have to hover over EXCHANGE and click<br />
BASIC. The next screen should pop up.<br />
1 2<br />
3<br />
1. Here you can see the buy and sell orders of the coin you choose (ETH,<br />
in this case). Green is buy order. Which means that the highest price<br />
people want to buy is on top of the green column. Red is the sell
order. Which means the lowest price people want to sell is on the<br />
bottom of the red column.<br />
2. At this area of the screen you can choose which pair you want to<br />
trade.<br />
3. This is the area where you place your order. You could either buy or<br />
sell a coin. You can buy/sell <strong>for</strong> the market price or decide to place an<br />
order <strong>for</strong> another price.<br />
CLICK HERE TO GO TO START TRADING AT<br />
BINANCE<br />
How to build your portfolio?<br />
Now you know how to trade on Binance its time to start building your<br />
portfolio and acquire more and more coins. The Internet is full of ways to<br />
earn money with crypto. However the easiest and safest way is to invest in<br />
a particular coin by Dollar Cost Averaging (DCA) This means you acquire a<br />
particular coin over a longer period of time instead of going all in at one<br />
moment. This method makes sure you are covered <strong>for</strong> potential gains and<br />
losses. Lets say <strong>for</strong> example that you go all in on a coin at $0.10 and the<br />
next day the coin goes <strong>for</strong> $0.08. This means you lost 20% on your<br />
investment. DCA removes this risk. Lets say you purchased 50% at $0.10<br />
and 50% at $0.08, this would mean you only lose 10% on your investment<br />
instead of 20%. If you do this <strong>for</strong> a longer period of time your losses and<br />
gains will average and your position is solid <strong>for</strong> the long run. Since pretty<br />
much no one knows how much a coin is in – or – decreasing its better to<br />
acquire a position <strong>for</strong> a coin by DCA. Although this method proves to be<br />
beneficial in the long run, it might take some time to see gains. There<strong>for</strong>e I
suggest you use another way to make money with crypto. This particular<br />
method has proven to be capable of generating returns over 5000% within<br />
months. This means that a $100 investment turns into $5000 within<br />
months. Even better: $1000 turns into $50.000 cold hard cash!<br />
If you are ready to become one of the big boys, click<br />
the line below! If you are ready to become financially<br />
independent, click the line below! If you want to earn<br />
money, click the line below and start making money<br />
today!!!<br />
CLICK HERE TO GO TO MAKE MONEY<br />
This method teaches you exactly how you can acquire such amazing results.<br />
But be fast.<br />
The offer is <strong>for</strong> a limited time only!<br />
CLICK HERE TO GO TO MAKE SOME REAL MONEY<br />
RIGHT AWAY!!<br />
How to store your funds safely?<br />
When you generated all these amazing gains you need place to keep them<br />
safe. Keeping your hard earned funds on an exchange is the least safe way
to store your earnings. Exchanges are getting hacked occasionally and<br />
there<strong>for</strong>e storing them on a wallet is the safest way without a doubt. If you<br />
just started out with a couple hundred bucks. I suggest you to stick to<br />
COINBASE. Once you really start making some serious money, which is<br />
extremely possible if you use the method above, I recommend using Ledger<br />
Nano S One of the downsides is that it costs a little under $100, there<strong>for</strong>e it<br />
would be a good investment if you start making a few thousand $$$. The<br />
difference between an online wallet and a hardware wallet is that a<br />
hardware wallet is offline. Which means it is extremely hard to hack. This<br />
makes it a great way to store your funds very safely!<br />
CLICK HERE TO GET YOUR SAFE HARDWARE<br />
WALLET!<br />
Keep up with the latest crypto news<br />
You are going to invest and trade cryptocurrencies, no doubt about it. Now,<br />
in order to stay updated on the latest news of particular coins and<br />
communitys I strongly recommend you to use Telegram, Twitter and<br />
Reddit. These media are extremely popular among crypto investors and<br />
there<strong>for</strong>e a definite must-have!<br />
If you sign up <strong>for</strong> the sites I just mentioned, youll quickly come across<br />
different terms, which you probably dont understand. In order <strong>for</strong> you to
know what they are talking about I added a list of most used words in the<br />
crypto-universe.<br />
Thank you <strong>for</strong> reading and I hope you did learn a lot<br />
about cryptocurrencies. This eBook was written with<br />
all the love from a crypto enthusiast. It’s <strong>for</strong> everyone<br />
to use totally FREE. If you value my work and would<br />
like to donate a little bit of your earnings please feel<br />
free to do so. Thank you very much <strong>for</strong> reading!!<br />
BTC: 1JGhzAvBGubSoN9bMH43hmbC6kawXGaCK9<br />
LTC: LecwFx6r11S6iiJiD6sYtwLgqBVCqvvs57<br />
ETH: 0xa7BedA557d135E5a9Ee6828D5bC43501Ad567e0a
List of crypto-terminolgy<br />
Address<br />
"A code used to store/send/receive bitcoins and other cryptocurrency<br />
consisting of 26-35 alphanumeric characters. It is also the public key in the<br />
pair of keys used by bitcoin holders to digitally sign transactions."<br />
Ex Address: 175tWpb8K1S7NmH4Zx6rewF9WQrcZv245W<br />
Phrased:<br />
Bob: "Sandy, what's your address so I can send you some bitcoin?"<br />
Sandy: "It's 88 PIne Street."<br />
Bob: "No Sandy, not your home address, your bitcoin address ya boob! It<br />
has to be accurate or your coins will be lost, double check it!"<br />
Sandy: "oh, it's 175tWpb8K1S7NmH4Zx6rewF9WQrcZv245W"<br />
Altcoin<br />
"Any <strong>for</strong>m of digital crypto currency that isn't Bitcoin, an alternative coin."<br />
Ex: Ethereum, Steem, Litecoin.<br />
Phrased:<br />
Bob: "Hey Sandy, buy any good altcoins today?"<br />
Sandy: "You betcha Bob, bought some litecoin, some dogecoin, and a<br />
fuckload of POTcoin."<br />
Blockchain<br />
"A full list of all the blocks that have been mined since the creation of<br />
Bitcoin."<br />
Block Reward<br />
A reward that is given to a miner after successfully hashing a transaction<br />
block.
Phrased:<br />
Bob: "I'm making almost 2$ a day mining ethereum on genesismining!"<br />
Sandy: "Better upgrade those mining contracts Bob. I'm making 10x that on<br />
DASH."<br />
Mining Difficulty<br />
"This number determines how difficult it is to hash a new block. It is related<br />
to the maximum allowed number in a given numerical portion of a<br />
transaction block's hash. The lower the number, the more difficult it is to<br />
produce a hash value that fits it."<br />
DDoS<br />
"A distributed denial of service attack uses large numbers of computers<br />
under an attacker's control to drain the resource of a central target."<br />
Phrased:<br />
Sandy: "Bob! I can't get my coins off coinbase and the value is plummeting!"<br />
Bob: "That's because some one is DDoS'ing it Sandy, always remember to<br />
store your coins in a safe secure wallet."<br />
Escrow<br />
"The act of holding funds or assets in a third-party account to protect them<br />
during an asynchronous transaction."<br />
Fiat<br />
"Any <strong>for</strong>m of physical paper currency. Regulated and Centralized."<br />
Phrased:<br />
Bob: "Sandy, I hope your <strong>trading</strong> your fiat <strong>for</strong> bitcoin."<br />
Sandy: "If I drove a Fiat, I would hang myself Bob."<br />
Bob: "touché Sandy, touché! but I was referring to Fiat Currency not the<br />
car."
FOMO<br />
"Fear of Missing out"<br />
FUD<br />
"Fear, Uncertainty, Doubt"<br />
Hard<strong>for</strong>k<br />
"An alteration to the block structure of bitcoin that changes the difficulty<br />
rules."<br />
Ex: See segwit, btc unlimited<br />
Hash<br />
"A mathematical process that takes a variable amount of data and produces<br />
a shorter, fixed-length output."<br />
ICO:<br />
"An Initial Coin Offering, A way <strong>for</strong> a new cryptocurrency project to raise<br />
money <strong>for</strong> their project by offering a select amount of coins <strong>for</strong> sale to the<br />
public at base price."<br />
Ex. Bancor ICO, Civic ICO, DCORP ICO<br />
Phrased:<br />
Sandy: "Bob, Why is my BNT token worth less than what I bought it <strong>for</strong> in<br />
ICO?!"<br />
Bob: "Sandy, you bought that hype, never buy that hype."<br />
Mining<br />
"The act of generating new bitcoins by solving cryptographic problems<br />
using computing hardware."<br />
Pump and Dump
"Inflating the value of a financial asset that has been produced or acquired<br />
cheaply, using aggressive publicity and often misleading statements."<br />
Phrased:<br />
Sandy: "Bob, Parkbyte is going to the moon! buy it now!"<br />
Bob: "Sandy, did you read that on poloniex trollbox?"<br />
Proof of work<br />
"A system that ties mining capability to computational power."<br />
Proof of Stake<br />
"An alternative to proof of work, in which your exiting stake in a currency is<br />
used to calculate the amount of that currency that you can mine."<br />
QR Code<br />
A two-dimensional graphical block containing a monochromatic pattern<br />
representing a sequence of data.<br />
Phrased:<br />
Sandy: "Bob, I am afraid to invest in bitcoin, I heard people steal it often"<br />
Bob: "just set up a QR code to be scanned by your phone when you login!<br />
It's virtually impossible to hack a wallet this way."<br />
Shorting<br />
Selling a cryptocurrency In hopes of buying it at a lower price at a later time<br />
to gain profit.<br />
Phrased:<br />
Bob: "Sandy, I just shorted bitcoin at 2700$ yesterday, gonna make all kinds<br />
of money when it drops back to 2000$"<br />
Sandy: "Bob you fool, have you checked the price today? it shot up to<br />
10,000$ last night, I'm Rich!"
Volatility<br />
"The measurement of price movements over time <strong>for</strong> a traded financial<br />
asset."<br />
Phrased:<br />
Sandy: "Bob, I just bought ethereum <strong>for</strong> 370$ on GDAX, and now it's worth<br />
10$"<br />
Wallet<br />
A digital or physical address in which cryptocurrency can be<br />
stored/sent/received. Accessible through a private key.<br />
Ex: Myetherwallet, trezor, Ledger nano<br />
Whale<br />
Someone who possesses a Majority percentage of a cryptocurrency.<br />
Referred to as a Whale.<br />
Ex: The Winklevoss twins<br />
Whitepaper<br />
A documentation describing a crypto currencies protocol in detail<br />
Ex: Satoshi Nakamoto Bitcoin Whitepaper<br />
Phrased:<br />
Bob: "Sandy did you see the whitepaper <strong>for</strong> Bitconnect?"<br />
Sandy: It doesn't look like they have a whitepaper Bob."<br />
Bob: "Sandy you turd! Bitconnect is a scam. Always make sure to read the<br />
whitepaper be<strong>for</strong>e you invest in a cryptocurrency."
All definitions are quoted from https://quizlet.com/107781909/bitcoincryptocurrency-related-terminology-flash-cards/