A DEEP DIVE INTO
Getting started with Cryptocurrency
Crypto? Blockchain? NFTs? Let us decrypt..
84 key ideas from
2 books
1 podcast
1 video
6 articles
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Skills
Overview
Key Ideas
FAQ
What you'll learn
Understanding the basics of cryptocurrency
How to store cryptocurrency securely
Risks and benefits of investing in cryptocurrency
Different types of cryptocurrency
Ideas from books, podcasts, videos & articles
Bitcoin Guide for Beginners: The Simple Guide to Blockchain Technology, Cryptocurrency, and Mining Bitcoin
The Bitcoin Standard
Influential people you will learn from
Victor Gray
Saifedean Ammous
3 Top Key Ideas (84 total)
What is Cryptocurrency?
Cryptocurrency is a form of payment that can be exchanged online for goods and services.
Many companies have issued their own currencies, often called tokens, and these can be traded specifically for the good or service that the company provides. Think of them as you would arcade tokens or casino chips. You’ll need to exchange real currency for the cryptocurrency to access the good or service.
How many cryptocurrencies are there? What are they worth?
More than 6,700 different cryptocurrencies are traded publicly, according to CoinMarketCap.com, a market research website. And cryptocurrencies continue to proliferate, raising money through initial coin offerings, or ICOs.
The total value of all cryptocurrencies on Feb. 18, 2021, was more than $1.6 trillion, according to CoinMarketCap, and the total value of all bitcoins, the most popular digital currency, was pegged at about $969.6billion.
Starting with 2022 the prices have gone down and the industry is experiencing a "crypto winter".
Why are cryptocurrencies so popular?
Some of the reasons:
- Some see cryptocurrencies such as Bitcoin as the currency of the future and are racing to buy them now, presumably before they become more valuable
- Some like the fact that cryptocurrency removes central banks from managing the money supply since over time these banks tend to reduce the value of money via inflation
- Some like the technology behind cryptocurrencies, the blockchain, because it’s a decentralized processing and recording system and can be more secure than traditional payment systems
- If price in $ goes up it may hurt long-term acceptance as a new way to move money
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