Author: Stefano Esposito
Publisher:
Published: 2019-02-08
Total Pages: 89
ISBN-13: 9781980991106
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This book is a step by step guide for those who are starting to get interested in Bitcoin and Cryptocurrencies. By reading it you will learn: How to create a cryptocurrency wallet How to buy your first Bitcoins How to open an account on an Exchange platform How to trade Bitcoins with other Cryptocurrencies How to cash out and turn Crypto into Fiat currency How to stay away from scams and Ponzi schemes We will not make too many preambles but, after a short introduction, we will dive straight into the practice of buying Bitcoins, exchange them with other Cryptocurrencies and eventually reconvert these Crypto into Fiat money.After the tutorial regarding the trading of Cryptocurrencies you will find sections about the dangers related to cryptocurrencies world such as Ponzi schemes and Pump and Dump groups, and we will also go through the most common psychological attitudes that can act as an obstacle to the Trader. Bitcoin is the most widespread cryptocurrency in the world, created in 2009 by Satoshi Nakamoto, a pseudonym that many consider hiding a group of subjects who gave life to this currency. The main feature is the absence of a central authority that monitors, controls, influences and determines the circulation of this virtual currency. The system on which it is based is peer To peer, the same used for the exchange of files between users all over the world. Unlike most traditional currencies, Bitcoin does not use a Central network or sophisticated financial mechanisms and its value is solely given by supply and demand. To trace transactions, Bitcoin uses a database distributed among the nodes of the network, so it is a peer to peer and uses cryptography to manage functional aspects such as the generation of new money and the attribution of property. The Bitcoin network allows the anonymous possession and transfer of coins, the data necessary to use their own Bitcoins can be saved on their computers or electronic devices in the form of a digital wallet or they can be maintained by third parties that perform a function similar to that of a bank. Bitcoins can be transferred over the internet to anyone with a Bitcoin address, also called a wallet. The decentralized structure of the Bitcoin network and therefore the lack of a central body makes it impossible for any authority, any government, the blocking of transfers, the seizure of Bitcoins without the possession of the related private keys, or even the devaluation due to the entry of new currency. In order to stop using the same coin twice its creator Satoshi Nakamoto has developed a server-based opening time marking system that assigns sequential identifiers to each of the transactions that are then strengthened against change attempts using the idea of a chain of proof-of-work that is of successive confirmations. Each time a transaction is made, this part from the unconfirmed state will only be confirmed when it is verified through a collectively managed time stamp list of all known transactions, the chain of blocks or blockchain. So... It's a real revolution! Despite its incredible volatility, Bitcoin can be considered an asset, and there are even those who define it as a new asset-haven just like gold! If you are reading these words it means that you are definitely interested in investing in this field. So let's roll up our sleeves and let's embark on this journey! Happy trading!
