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How to Make a Lot of Money Investing and Trading in Cryptocurrency
© Copyright 2017 by Andrew Johnson - All rights reserved.
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If you had purchased $100 worth of Bitcoins in the middle of 2009 then you would have ended up with 2,000 of them and really only been able to use them to buy drugs on the darknet. If you had held onto those coins until August 2017, you would have turned that $100 into more than $8,000,000. While the Bitcoin ship might have already sailed, it is not too late to jump onto the cryptocurrency bandwagon and make a profit in the process. If you are wondering about how to go about doing just that then Cryptocurrency: How to Make a Lot of Money Investing and Trading in Cryptocurrency is the book you have been waiting for.
Currently, only about 25 percent of Americans actually understand what cryptocurrency is and only about 2 percent use them on a regular basis. Despite this fact, all of the more than 1,000 cryptocurrencies on the market today have a market valuation of more than $60 billion dollars. Regardless of what you know about cryptocurrency as a whole, it is clear that this market is something to watch. Inside you will learn everything you ever wanted to know about the technology that powers cryptocurrency and how to tell a Bitcoin from a Litecoin, from an Ether and why that distinction matters. You will also learn how to choose the most promising contenders for the Next Big Thing and not lose your shirt while taking advantage of the high degree of volatility that the market is currently experiencing.
Top analysts are already calling cryptocurrency the most important technological advancement since the internet and before the market settles down fortunes will most assuredly be won and lost several times over. So, what are you waiting for? Don’t let this unique moment in human history pass you by, take control of your finances and buy this book today!
Inside you will find
An easy to understand breakdown of blockchain, the foundational technology at the heart of all major cryptocurrencies.
A detailed explanation of how cryptocurrencies lose and gain value and how you can put these methods to work for you.
Easy ways to get started investing in cryptocurrencies and everything you will need in order to do so effectively.
Recommendations on the major cryptocurrencies to watch moving forward.
A step by step guide to getting started mining cryptocurrencies and making money off of other people’s transactions.
The best tips for staying one step ahead of the scammers out there who are looking to steal your hard-earned cryptocurrency
A look to the future including how major governments are looking to take control of cryptocurrency for their own ends.
Chapter 1: Understanding Blockchain the Building Block of Cryptocurrency
Chapter 2: Cryptocurrency Basics
Chapter 3: Getting Started Investing in Cryptocurrency
Chapter 4: Investing in Cryptocurrency Tips for Success
Chapter 5: Mining Cryptocurrency
Chapter 6: Avoiding Fraud
Chapter 7: The Future of Cryptocurrency
Congratulations on downloading Cryptocurrency: How to Make a Lot of Money Investing and Trading in Cryptocurrency and thank you for doing so. Cryptocurrency is an increasingly relevant investment concern and, even if you only have a vague idea of what it is all about at the moment, with a little bit of study you will soon find that there is significant profit to be made in that arena.
That doesn’t mean that profit will be easy to acquire, however, which is why the following chapters will discuss everything you need to know in order to start investing in cryptocurrency in the most effective and reliable way possible. First, you will learn all about blockchain, the foundational technology in play behind all of the major cryptocurrencies currently on the market and just what it is about this technology that is causing experts to say it is the most important technological advancement since the creation of the internet. Next, you will learn all about the details of cryptocurrency itself and why you are sure to hear more about them in the immediate future.
From there, you will learn all about the ins and outs of investing in cryptocurrency in such a way that minimizes risk as much as possible while at the same time maximizing your potential for profit. You will then learn about tips for investing in cryptocurrency successfully along with avoiding fraud while doing so. You will also learn about the other major way to make money via cryptocurrency which is known as cryptocurrency mining. Finally, you will learn about when cryptocurrency is likely to go in the future.
There are plenty of books on this subject on the market, thanks again for choosing this one! Every effort was made to ensure it is full of as much useful information as possible, please enjoy!
Cryptocurrencies of one type or another are all the rage these days, despite the fact that approximately 75 percent of all Americans can’t actually describe what a cryptocurrency is. Cryptocurrencies are a type of digital currency that can be put to use in an increasing number of ways from paying for groceries to making long-term investments. Their use and even their very existence came about thanks to the technology known as blockchain.
While the use of the term blockchain can vary depending on if the conversation in question is discussing cryptocurrency in general, smart contracts or Bitcoins, the main takeaway from the conversation is going to be that blockchain technology allows for the storage of large amounts of mostly financial data in a decentralized database. You may find it helpful to think of blockchain as you would Lego in that each blockchain is made up of a wide variety of blocks that can be assembled in different ways while still falling under the same general brand. More specifically, each blockchain stores data in such a way that it allows for an unparalleled combination of accessibility and security that is extremely difficult to crack due to its very nature.
Each block in a given blockchain contains all of the data from the preceding blocks while also adding its own unique information to the mix. Each time a new block is added to a chain from an established node, that information is then automatically added to all of the other nodes that are connected to that chain after it has been verified for accuracy. In addition to storing a vast swath of data, every block also automatically timestamps the transactions and it adds to the chain along with including other types of identifying data as well which makes it easy for the blockchain to determine its unique spot in the line of blocks.
This fact makes it easy for every blockchain to operate without any centralized control or authority directing it or any primary server that oversees the process to make sure everything works the way it should. Instead, these types of processes all take place automatically spread throughout the various nodes that are connected directly to the blockchain in question. As such, a single blockchain could easily be spread out across the entire world, based on nodes that are all operating more or less autonomously. These nodes then have the ability to communicate with one another securely through an advanced system that utilizes a form of specifically designed cryptography along with digital signals that are in place to ensure the integrity of the chain at all times.
Each blockchain allows for both read-only and writeable access depending on the authorization level of its users. Users that have read-only access are able to view the chain and its related transactions while writable users are allowed to add new blocks to the chain. Blockchain security is unique in that it doesn’t work to actively prevent corruption from reaching the chain, instead, it relies on its unique nature to thwart those who have nefarious plans for the data encoded within. Altering the data contained within a blockchain would require extreme computational power that is not generally feasible or economical proposition for reasons that are outlined in detail below.
The root of blockchain technology can be traced all the way back to the 1980s when it was invented as a way to prevent spammers from sending out mass emails. The idea was that in order to send an email, the sender’s computer would have to complete a basic calculation that would become increasingly more complex the more emails that are sent at once.
This technology never saw widespread use, and more or less lay fallow until 2008. At this point, discussion on a peer-to-peer programming forum turned to the ways at which the technology could be used as a way to facilitate P2P financial transactions that had no ties to the traditional banking infrastructure. This was a purely theoretical conversation at the time, but it didn’t remain that way for long.
At the start of 2009, a treatise titled Bitcoin: A P2P electronic cash system started making the rounds on that same forum authored by a person or group of people using the pseudonym Satoshi Nakamoto. At about the same time this alias released the basic code of what would go on to form the basis of what would become the Bitcoin infrastructure, releasing the first round of Bitcoins as a proof of concept. A number of other programmers quickly went on to improve the code and the Nakamoto alias dropped off the map in early 2010.
To more accurately understand blockchain, it is helpful to understand how Bitcoin and a majority of the other cryptocurrencies on the market today actually work. Bitcoin is a type of digital currency that, in general, works the same way that other digital services such as PayPal do, though there are a few notable differences as well. It allows users to transfer Bitcoins from person to person with each Bitcoin having a value that allows it to be exchanged for hard currency depending on its currently agreed upon value.