Understanding, buying, and trading cryptocurrencies made it easy.
Understanding, buying, and trading cryptocurrencies made easy: The ultimate guide for beginners
I, Dennis Spiess, left Germany in 2016 to become a location-independent entrepreneur. I have studied Business Informatics and could have somehow survived with software jobs. But I started with only two months worth of savings. Reason enough to look again into an investment opportunity I have already heard of a few years ago. But, unfortunately, I just didn’t understand it before. Now, I dealt with that topic again for a while not expecting that it would become a mainstream phenomenon in 2017 which sustains me financially until this day. I talk about cryptos.
Cryptocurrencies? Aren’t these those Bitcoins? Yes exactly! And by the way, probably the biggest technical revolution since the invention of the Internet, maybe even its true and full maturity.
Did you ever want to deal with the subject of cryptos? But you have little to no prior knowledge and you are not really a computer genius? No problem! This book is for absolute beginners. It fetches you where you are. It leads you from the history of money through the economical and technical basics like blockchain and co. directly into practical application while using simple explanations and everyday life’s analogies. I lay all cards on the table and let you plainly participate in my many beginner’s mistakes, so you do not have to go through them as well. Millionaire overnight is not possible even with cryptos!
The reader is guided step by step from the first purchase of a crypto coin, to creating a wallet and trading on an exchange. In addition to introductory knowledge on the crypto market, I also want to address questions, fears and doubts by providing education. I want to convey to the reader security as well as confident handling in the crypto world. The reader should develop both justified skepticism and reasonable optimism. Theoretical and practical advice and warnings as well as a view into the future complete the whole thing and make this book for you a successful start into the crypto world.
Questions that are answered in this book:
- What is money?
- How do cryptos gain their value?
- Are cryptos a bubble?
- What is a blockchain?
- What is a fork?
- What is a wallet?
- Which wallet types are there?
- What is an exchange?
- What is mining?
- What is the scaling debate?
- What are smart contracts?
- What are ICOs?
- How do I create my first wallet?
- How do I buy cryptos?
- How do I send cryptos?
- How do I sell cryptos?
- How do I use an exchange?
- What advantages but also problems accompany cryptocurrencies?
- What scams can I expect?
- What security concerns are there?
- Which mindset is suitable for the crypto market?
- Is mining profitable?
- Which investment strategy makes sense?
- What can we expect from the future in the crypto age?