Cryptocurrency

In this topic we will demystify what crypocurrecy is and what the blockchain technology is.

Cryptocurrency is a secure, digital form of money, while blockchain is the underlying technology that tracks and verifies all transactions. Both aim to provide decentralized, transparent, and secure solutions in the world of finance.

Why buy

Potential for high returns: Cryptocurrencies, particularly in their early stages, have shown the potential for high returns on investment. Diversification: Adding cryptocurrencies to an investment portfolio can provide diversification.

How to buy

There are many exchanges out there, some are more legitimate than others. One must study the platform, there teams and the size and length they have been around. I will recommend a few, that I have used personally, however you must do your research.

Which to buy

Remember this is a new and upcoming technology space, like the early internet. There are many coins and blockchain protocols. All are very high risk when it comes to the price falling, but the rewards can be high. try understanding technology and purpose behind each coin.

When to buy

Unless you a day trader, have a long-term perspective. Think 6 month to 5 years or more. There are still emerging technologies in this space that have low prices and big potential growth. That said you can buy fractions of coin. That is, you don't have to buy a whole Bitcoin you can buy 0.0005% of one.

These are live general pricings, remember pricing will defer on different exchanges.

Crypo-USD Pairs

Stock	Symbol	Price	Change %	Volume	Marketcap
Cardano USD ADA-USD	ADA-USD	$0.7379	0.23%	570,193,600	26.00B
XRP USD XRP-USD	XRP-USD	$2.32	2.54%	2,668,141,568	135.07B
Solana USD SOL-USD	SOL-USD	$138.14	0.99%	2,635,670,528	70.67B
Ethereum USD ETH-USD	ETH-USD	$2,009.06	0.78%	11,665,455,104	242.39B
Bitcoin USD BTC-USD	BTC-USD	$87,123.16	0.52%	23,961,888,768	1.73T

Which Exchanges

Coinbase, Binance, Kraken, Luno are well-known. Always consider factors like trading volume, fees, security measures, and customer support before choosing an exchange platform. Note: Coinbase, is an American publicly traded company. Giving the platform a lot of legitimacy. What you select is up to you but look at factors that you would with normal share trading, such as public listings or other factors. Small unknow exchanges can be very problematic, even big ones. So its best you trade and then not keep your coins on the exchange but rather move it to a digital wallet for security.

Binance Exchange

Approximately 120 million Registered users, with a $38 billion 24h trading volume on Binance exchange. They have over 350+ Cryptocurrencies listed. With a <0.10% low transaction fees

Website

CoinBase Exchange

Approximately 110 million verified users and 245,000 ecosystem partners in over 100 countries trust Coinbase to easily and securely invest, spend, save, earn, and use crypto.

Website

Kraken Exchange

Approximately 9 million clients, with a $207 billion quarterly trading volume on Kraken exchange. They have over 200+ Cryptocurrencies listed. Earn up to 24% in rewards annually by staking your assets with Kraken.

Website

How you create wealth with cypto-coins

You make money by coin prices increasing and selling higher than you bought at
You can earn a percentage by staking.

What is Staking

In PoS-based blockchains, validators are chosen to create new blocks and confirm transactions based on the number of coins they hold and are willing to “stake” as collateral. Staking offers a way to earn passive income by supporting the network’s operation.

Staking in cryptocurrencies can be an attractive way to earn passive income while supporting the network’s security and stability. However, it’s essential to be aware of the risks involved, such as potential price fluctuations and the temporary illiquidity of staked coins.

Here’s how staking works in cryptocurrencies:

Choose a cryptocurrency: To begin staking, you’ll need to select a cryptocurrency that uses the PoS consensus mechanism. Some popular PoS-based cryptocurrencies include Ethereum 2.0, Cardano, Polkadot, and Tezos.
Acquire the cryptocurrency: Purchase the chosen cryptocurrency through a reputable exchange or other means, and store it in a compatible wallet that supports staking.
Stake your coins: Depending on the specific cryptocurrency, you can either stake your coins directly from your wallet or use a staking service or platform. When you stake your coins, you’re essentially locking them up as collateral for a certain period.
Become a validator or join a staking pool: As an individual staker, you can become a validator if you meet the minimum staking requirements. However, for many PoS cryptocurrencies, these requirements might be too high for most individual investors. In such cases, you can join a staking pool, where multiple users pool their resources to increase their chances of being selected as validators.
Earn rewards: Validators who successfully create new blocks and validate transactions are rewarded with newly minted coins and transaction fees. These rewards are then distributed to the stakers proportionally, based on the amount they have staked.

Many of the Exchanges have stacking services built in, taking away your need to understand the technical. Please always assess the risks and benefits of staking your coins and the platform you use.