What Is Bitcoin, Altcoins, Ethereum & Crypto
What is cryptocurrency?
Hopefully, this will give a better understanding by the time you read this of what is Bitcoin, Altcoins, ethereum & Crypto is. This should help you to gain more knowledge of what coins are and tokens in the crypto world.
Some people are having a hard time wrapping their brains around why we would have Bitcoin, Ethereum, etc., Here is some information on what is Bitcoin, Altcoins, Ethereum & Crypto currency & exchanges (platforms).
Learn about soft (hot) and hard (cold)³ wallets, Fiat, to help you understand better.
“What is Bitcoin, Altcoin, Ethereum
“Learn to control your own money.”
“Our own banking system gave out loans fraudulently and frequently, leading us right into a recession. “
Cryptocurrency is as Wikipedia defines, “A cryptocurrency is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets.”
“Getting to know cryptocurrency, broadly defined, is virtual or digital money which takes the form of tokens or “coins.”
While some cryptocurrencies have ventured into the physical world with credit cards or other projects, the large majority remain entirely intangible.
Could it be the currency of the future? The dollar holds no value as it is being printed when the Federal Reserves feels the need.
What Is Bitcoin?
Bitcoin is like having an online version of cash. It is described as digital currency, cryptocurrency, virtual currency. Control your money, do not let corporations or the government corporation. Bitcoin is used worldwide.
Cryptocurrency was started through investments, so it is backed up by tangible ways of making it worth something.
The grandfarther of didgital currency is Bitcoin as it was the first of cryptocurrency to make it and create changes. All the other coins follow after.
Getting to know Bitcoin can be complex when you are first learning.
What is Altcoin?
Altcoin refers to other than bitcoin. The estimated is over 5,000 different coins. According to CoinMarketCap, altcoins accounted for over 34% of the total cryptocurrency market in February 2020. In order to succeed against Bitcoin, it must have a competitive advantage.
Many of them are much faster through the blockchain and definitely cheaper to buy, but so far none hold value as strong as Bitcoin.
“CoinMarketCap gives you the top 100 coins”
Types of Altcoins
Types of categories in altcoins include mining-based cryptocurrencies, stablecoins, security tokens, and utility tokens, ICO Tokens. Huge gains and losses happen within some of the populair currency creating up and down roller coaster looking for that stability point.
Ethereum is unlike any corporation that keeps track of your data. Ethereum decentralizes your information keeping it private. All your online data including finances is stored through computer/server which is owned by small corporations, large Corporations OR Government.
Apps you use, store information you put out there, creating a middleman, makeing your information “centralized” easy to be hacked into.
Similar to the Internet, it acts as the necessary platform on which a whole virtual ecosystem can be developed, stored, executed and used by users securely and anonymously.
Through Ethereum and Altcoins, you can shop online, transfer documents, you get it, right?
When Computers First
Remember how computers were when they first exhisted? Computers back then were huge and bulky like the phones. I could not fathem how a cd would work over a record.
We never thought it could be possible they would be running the world as they are today.
The younger generation would not even know what it is without computers. Bitcoin is money changing into electronic money like everything else had become didgital.
The TD9 is a tool that has been accurate in predicting the huge bull run of 2017 Bitcoin soared to ($20,000 USD, Ethereum $17, 000 USD and Ripple over 30,000% gains.
Take a look at the chart from the CoinMarketCap who tracks all top 100 cryptocurrency.
Top Coins to Watch 2020
There are coins that stay on the top you should have some investment in. Etherum Bitcoin goes up, so do these coins. Some tokens have a faster trading platform.
Tezos is one to keep an eye out for as it has done big things. China is switching to completely didgital currency, Didgital Yuan.
Libra was a failure at first, a coin from Amazon and Amazon is working out the kinks as you are reading this.
Yuan would be worth keeping your eye on as well. Everyone knows when Amazon switches to didgital, it will disrupt the world and change the way we use currency. Watch these coins or more so purchase these coins in 2020.
11. Digital Yuan. (China’s new currency)
12. Libra. (Amazon)
Fiat Currency is a government-issued currency that is not backed by gold, silver or any metals or any commodities, known as the dollar.
The Federal Reserve Bank pumps out dollars when they feel the economy needs it pushing the value way down to all most nothing.
Is Fiat Currency Changing Before Our Eyes?
Fiat currency seems that it will be a currency of our past in the near future.
Proof is in front of your eyes and happening as cryptocurrency is being used worldwide, ATM machines for Bitcoin, major companies are excepting Bitcoin, you can shop, buy real-estate, send Bitcoin overseas.
Some countries even have their own cryptocurrency and have eliminated Fiat currency altogether. Do you see the changes going on worldwide? Research.
Although there are different Altcoins, ICO’S or Ethereum, some coins you can buy in the US or other countries. At the same time, there are coins you can not buy if you are in the US from other countries.
Few Countries have made an Altcoin specific to there country. Just about the same as having different Countries having Fiat currency specific to it.
What do you think? Does it sound like cryptocurrency is changing the way we use money across the world? Do you think we are seeing a change in our money system happening before our eyes?
Sending Fiat Money
Having Fiat currency in your bank leaves you helpless if you need a large amount at once, the banks are in control of your money. With Bitcoin, you are in control of your money, not the bank.
Try going to the bank and withdrawing $10,000 or even $1,000,000.00 to send it over-seas. With banks there are issues right away; starting with not being able to get all your money right away.
The list goes on, as it is going to really cost you to send it overseas and you may get flagged.
Sending Cryptocurrency-Bitcoin, Ethereum, Ripple
Bitcoin, Ethereum, Ripple, makes it easy to send $10,000 or a million at once, no questions asked, it’s your money, and it gets there in minutes. Keep your money in your possession.
Invest in the economy using altcoin. It is accepted in real estate, purchasing products, food, can be used at restaurants, airfare, making trades.
According to Forbs magazine in 2018, “Blockchain can make MLS property data more centralized and accessible, title records easier to track and transfer, and it can make transactions more efficient and secure,” (Forbes, 2018).
A blockchain is needed to transfer coins securely, safely and quicklyWikipedia’s Blockchain description, “By design, a blockchain is resistant to modification of the data. It is an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way.”
Ethereum is a coin and uses a blockchain. In the Ethereum blockchain, instead of mining for bitcoin, miners work to earn Ethereum, a type of crypto token that fuels the network.
Airdrops is a platform you can get free ico’s. Remember, ico’s are for new platforms and altcoins coming out. The company has to test their coin so they give out so many ico coins to test the platforms.
Keep your coins and wait for higher gains, trade it for other coins, or cash out and keep the money. If it is a good ico, the white paper sounds good and the investors are familiar, hang on to it. Get new ico’s below.
Cryptocurrencies are created for different reasons so you need to read the White Paper to know what the coin is used for so you know.
Most cryptocurrency has its own platform and if they do not, it will be listed on one of the major exchanges like Coinbase, Bifinex, Coin Mama, Binance, are some of the trading platforms.
While Voyager you can earn $25 dollars just four signing up through my website and use it free to convert your cryptocurrency.
Get another $100 free in bitcoin when you get your friends to sign up. $25 for you $25 for them, up to 4 friends.
You cannot always use platforms in other countries. They will let you know if you go to sign up. To get around this you would do something like this.
When purchasing ethereum and your using Coinbase, you first purchase Bitcoin through Coinbase, send it over to Binance, convert from bitcoin to ethereum and trade in Binance or if not trading, send them to your wallet.
Buy more types of Ethereum on Binance, they are more Ethereum based platform
Check out this platform called SECURITIZE. People in Real Estate or any other type of business using Bitcoin use SECURITIZE. A good way to look up a person’s Bitcoin address to see if they have the funds for a transaction.
CoinPayments has created a special place in the world of cryptocurrency.
“Users with intuitive digital wallets, which include shopping cart plugins that can be easily integrated by online merchants making it appealing to their customers,” said Alex Alexandrov, founder, and CEO of CoinPayments.
With Coinpayments you can make purchases with gift cards, many different coins, giving you the option to pay or accept in many different forms.
Who Has Frauded The Economy?
Banks. You cannot get your money because it’s tied up paying off debts usually from reinvesting.
Having credit so used, there is not as much cash flow going back into the economy. Most of what you see is from investors keeping the economy afloat.
“Don’t you think it’s time to invest and protect your own money?”
Now is the time to invest and protect your money? Why do you think big companies like AT&T, Nikki, JP Morgan Bank, the list goes on are buying into Bitcoin or cryptocurrency.
After 2008, banks know they can go under, so they are learning to protect themselves from going bankrupt.
Companies are protecting their assets, this is why I think right after the last recession Bitcoin was introduced.
In the past at Bitcoin businesses, CEOs who were at the top of some very well-known platforms when they first came out.
Giving them top much power and greed set in when these people stole people’s Bitcoins (money because people put money into it, millions).
Companies have to be licensed and regulated so this cannot happen anymore.
“Always keep your bitcoins in your wallet unless making a trade.”
Losing Money On The Exchange
Loss of money on the exchange can happen, that is why it is important to keep your crypto in your hard wallet.
This is as important as making sure you have the right wallet address where you send your crypto.
Once it sends there is nothing you can do if you put a wrong address, it is gone forever. The point is you control your money.
When you are trading, attach the crypto back into your wallet. If you are simply investing, leave your coins in your wallet until the right price comes along you want to sell for.
Why I Prefer A Hard Wallet
Even though there is more regulation such as companies have to get a license and some bonded, I prefer a hard wallet because what if a platform was hacked into or a CEO decides to run with the money and what if the system went down for some reason.
Keeping my coins secured in a hard wallet where there is no way anyone could hack into it, ensures their safety.
I have provided a way to get a wallet. Ledger has the best prices and works great.
A soft wallet is needed from the platform to move your crypto from your wallet, onto your soft wallet, then onto the platform. Platforms provide their own soft wallets like Coinbase or Voyager.
Soft wallets also are needed to trade back and forth so the Bitcoin or coin in which you purchasing or selling has a place to connect to.
Is Cryptocurrency Here To Stay?
This article just came out from the Daily Hodl, “200,000 Crypto Traders Now Have Access to Leading OTC Liquidity Provider for Bitcoin, Ethereum, XRP, Bitcoin Cash, Litecoin” (Hodl, 2020).
Here is how the article starts out, “Leading cryptocurrency over-the-counter liquidity provider, B2C2, has announced a partnership with San Francisco-based SFOX, the industry-leading prime dealer, granting over 200,000 traders and funds access to B2C2’s liquidity.”(Hodl, 2020).
Honestly, where would you rather have your money?
You can keep all your currency in your hard wallet for safekeeping. It is the most secure place for it. Or, when we have another recession, you can keep your money in the bank and lose it.
Are Companies Preparing for a
A recession is coming. Why do you think all these big companies are going in on Bitcoin? You want to have control, not the bank when it happens. The trend over time looks just like it did in the 1930s so get prepared.
Graduating from Grand Canyon University in 2019, I had access to some of the best libraries, even Harvard. I have done my research and pay attention to clues with business.
The US has over 58% Revolving Credit. Banks or companies can not keep doing business if no money is being made, put back into the economy to keep it going.
Furthermore, coronavirus is scary, and if that epidemic or when it reaches the US, it will disrupt the economy. There is revolving credit that is out of control. We’re cannot keep living on credit.
Why is one of the top banks JP Morgan (Chase) in big with the crypto exchange? JP Morgan is considered one of the top 1% elite. This should make you think. There is a reason JP Morgan (Chase) is one of the 1% talked about.
Underlining signs of a recession are showing signs as you look around for those at the top preparing. Companies prepare months to a year ahead so they will hopefully not go under.
When banks go under, Chase will be at the top and not lose business because they protected their money through crypto-assets.
Becoming educated is bitcoin, altcoin ethereum & crypto is a good idea as it seems to becoming anew way of currency.
Wake up and smell the roses!
Have a beautiful day everyone and do your research on blockchain, cryptocurrency, Bitcoin, Ethereum, Ripple.
See what the real tranformation is that is going on in front of your eyes. Learning about crypto currency will help you learn to invest in them too.