*The idea of cryptocurrency is simple: Some people rent their computers running specific software to verify and record all transacation on the network (blockchain) and they get bitcoin in return instead of US dollars.
*to make it easy it works some how like torrent files there is no server you download files directly from a network of online computers having the same file you are trying to download ( movie or music file) the file is available on their hard disk and they upload it to you using the torrent software
*Fiat is money such as US Dollars, Euro
*1 US Dollar = 100 cents
*1 Bitcoin = 100,000,000 Satoshi
*You can buy fractions of one bitcoin (You can buy 0.0001 bitcoin which is 1 US dollar worth of bitcoin you don't have to buy a whole coin)
*Bitcoin is the 1st cryptocurrency anything else called altcoin
*There are more than 1000 coins out there some called tokens
*tokens are projects based on blockchain
(Ethereum is a platform you can program your own token based on it)
*Ethereum is the 2nd biggest cryptocurrency, consider Ethereum just like operating system (windows) you can program your new token based on it.
*Every single coin has a unique wallet
*You can keep your coin in your private wallet or in the exchange wallet
*Only send and receive like-coins. Meaning, you can only send/receive Bitcoin-to-Bitcoin, Litecoin-to-Litecoin, etc (you can’t for example send Bitcoin to an Ethereum wallet).
How to start?
1-Create accounts on Exchanges:
2-Install Google authenticator app on your phone (Secure your accounts using Google authenticator)
Fiat to Bitcoin exchange
https://www.coinbase.com/join/5982198d83ace300ab0ba41b
https://www.bitstamp.net
https://cex.io
Bitcoin to Altcoins exchange
https://www.binance.com/?ref=10816918
https://www.cryptopia.co.nz/Register?referrer=abdullahmohi
https://bittrex.com
https://hitbtc.com
https://www.kucoin.com
https://yobit.net
Ethereum tokens only non-user-friendly
https://www.myetherwallet.com **create Ethereum private wallet
https://etherdelta.com **decentrlized exchange
3-Install Telegram app (almost every coin has a group to share and discuss everything about that coin)
4-Install Twitter app (Follow coins twitter)
5-Create new email (Never use the same password)
6-Create account on https://www.linkedin.com (helps to know more about teams and their projects)
7-Don't buy all time high buy the dip (buy when the coin is down 50-60% or more from the all time high) this is the best time to buy a coin
8-USDT (tether) it's a coin has the same price of 1 US Dollar you can store your profit or make stop loss orders to prevent loss when market is losing value
9-Diversify never but your money in one coin
10-50% from your investment should be in top 10 coins 30% from 11-50 coins and then 20% for the low cap coins
11-you have to be familiar with all that words (Market Cap, Circulating Supply, Total Supply, Max Supply, Volume (24h)
12-Don't buy all stack at once (Dollar cost your buying means don't buy with all your money in one day buy 10% every week or every two weeks)
13-Don't sell your all stack at once
13-Sell half of your bag on 2x and then go on a free roll
The cryptocurrency Investor / Trader starter pack: (Bookmark all of them)
Overview:
https://coinmarketcap.com/all/views/all/
https://coinmarketcap.com/coins/views/all/
https://coinmarketcap.com/tokens/views/all/
https://coinmarketcap.com/new/
THE place for Information:
https://bitcointalk.org
Charts:
https://www.tradingview.com
Calendar:
https://www.coinmarketcal.com
Market speculation:
https://www.cryptomus.com
balance view:
https://www.blockfolio.com/