How to get into cryptocurrency in under 7 minutes.

Nick Place
Mar 20, 2018 · 3 min read

“When I first learned that you pay anyone anonymously across the internet with no fees, I was searching the pants off of google for a working link.” — SWIM

Fig 1. Source

In 2005, this is what it looked like to set up a blockchain wallet.

So you want to crypto, eh? Well you must frist understand that your “wallet,” yup, your digital “wallet,” is your passport to the cryptoverse. Lose that, and you’re screwed.

Your wallet’s private key cryptographically signs everything you do on the blockchain. It’s like your signature. You become the only one who can act on your behalf.

Day 1: Private key hygiene

Baby turtles going out to the ocean. Source

I found a sweet app called Trust for iPhone and for Android that lets your keep your private keys secure on your phone. On the computer, I use Metamask for Chrome and you can download the official Ethereum wallet. Make absolutely sure to back up your private key in multiple safe locations.

You can also buy hardware wallets that keep youtr private key safe behind yet anotjher layer of cryptography. Trezor, Ledger and Yubico onto some really cool stuff. Yubico is the cheapest option.

Step 2: Moving $$$ into your wallet

If you’re interested in trading on cryptocurrency exchanges and markets, chack out Radar Relay, a project by a good friend of mine.

Step 2.5: Decentralized apps.

Source

The most interesting part about blockchain (in my opinion) is the opportunity to decentralize networks, location services, social media, chat, impact investment, organizations, and communities. The decentralized internet puts its users in control of their private data, their content, and their currency. It usurps the power weilded by mega-corporations and tech giants that monetize your data and attention.

Cryptography isn’t all business though. Cryptokitties is a game where you breed and trade cryptographically unique kitties.

You can keep up to date with new ÐApps on State of the ÐApps and DApp News . And of course, never stop searching!

Step 3: Get a job

Source

Websites like Steemit and DTube allow users to get paid for their own content. You can follow me on Steemit here. Gitcoin pays you to contribute to open-source.

Links

Tiny ad: I just launched freshtable.org, a food classifieds board for Fort Collins, CO. If you think that your city could benefit from one, please reach out.

How will you use your new crypto powers?

This newsletter, as a fizzy-bubbly work-in-progress, is open to tips, corrections and notes of affection.

Please reach out at nickjplace@gmail.com.

Last Thursday, by mistake, I deleted the main website off of the servers. Medium and Steemit will serve as a backup for the time being. Thanks for reading!

If you liked this post, free to give me some claps! Also head over to my Steemit to give me some love there.

The Resilient Review

A weekly collection about the state of technology & social…

Medium is an open platform where 170 million readers come to find insightful and dynamic thinking. Here, expert and undiscovered voices alike dive into the heart of any topic and bring new ideas to the surface. Learn more

Follow the writers, publications, and topics that matter to you, and you’ll see them on your homepage and in your inbox. Explore

If you have a story to tell, knowledge to share, or a perspective to offer — welcome home. It’s easy and free to post your thinking on any topic. Write on Medium

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store