Growing up you may have been a fan of movies that take place on Wall Street and you wanted to become an investor or work in the economy, in any case, if you are interested in learning how trading and currencies work. If you are interested in learning how to trade and invest you may find it a bit difficult, these are not easy concepts to grasp, however, with a lot of research, it's definitely possible to become a trading and investing wizard.
While trading and investing in the dollar is all well and good we have to step into the 21st century. We live in an age where technological advances play a huge factor and the world is entering the age of cryptocurrency. While you may have heard a lot about cryptocurrency it is still a relatively new type of currency and so it is probably a bit of a confusing concept to grasp.
You may be asking yourself the types of questions such as what exactly IS cryptocurrency? Or, how can I use cryptocurrency?
To put it simply cryptocurrency is a type of digital money. Over the past centuries, we've been used to using paper, physical money that is regulated through a central banking system. Cryptocurrency takes using money digital which allows it to be decentralized and you are able to use it anonymously.
There are positives and negatives to this new form of currency and it can help or hurt society, but in any case, it is something that is becoming more and more important as time goes on. If you are interested in learning about cryptocurrency then you are going to have to know where to get your information.
What is Cryptocurrency? What are the Positives?
As mentioned earlier cryptocurrency is a type of digital currency and for many the currency of the future. There are quite a few different types of cryptocurrencies and some are famous such as Ethereum, Litecoin, and many more, however, the most famous one and most successful by far is Bitcoin.
Cryptocurrency, unlike digital currency, is not based on or has a paper money equivalent it is based on its own currency which is totally not physical. So how exactly is cryptocurrency different than physical currencies around the world such as the dollar or the euro?
- Cryptocurrency is decentralized
This means there is no fee from a central bank. The money is paid directly from the buyer over the internet directly to the seller. This money is not regulated by any government authorities.
- It is Anonymous
Unlike digital currencies (Paypal for example) which are based on actual money that you put in from your bank account or a transfer from someone else, cryptocurrency is done much more secretly.
While with digital currency only the government can access information about a certain transaction, cryptocurrency is public. That is not to say the whole world will know what you are buying and when however a transaction using a cryptocurrency is made public so people can see transactions but not who the person was that made the purchase.
Using the blockchain cryptocurrency is made irreversible forever and no one can block your wallet. Transactions, thanks to the fact that it is done privately, meaning there are no intermediaries and you don't lose out on fees and commission that you would have to pay with digital currencies.
When you start using a cryptocurrency you will be given a key that if you keep in a safe spot, no one will be able to enter your wallet, only you can with your key, which is very important to keep track of if you want to enter your wallet again!
To talk about cryptocurrency we obviously must talk about the granddaddy of them all, which is Bitcoin. Bitcoin hit the market in 2009 when it was worth a total of 0 dollars. Well anyone who invested in Bitcoin at the time is most likely very, very rich. The price of a bitcoin right now is around 50 thousand dollars.
Bitcoin is limited, the same way gold is limited which currency is based off on, therefore it has a high value, and many investors and people have bought into it and sold it at a very high price. If you have the money to invest in Bitcoin it could be a great investment opportunity as the price can increase at some point and you trade your bitcoin for commodities and products.
Aside from Bitcoin, there are other cryptocurrencies that are worth much more than the dollar or euro that you can invest in and if you are wondering how you can invest and learn about cryptocurrencies, there are plenty of resources and materials for you to learn from.
Books about Cryptocurrency
If you like to get knowledge about different topics from books or are just an avid reader there are plenty of books out there for you to learn from regarding cryptocurrency. Cryptocurrency books will give you information (such as what was put in the previous section of this article) in great detail.
Books that talk about Cryptocurrency can tell you about what cryptocurrency actually is and how it functions, for example as to how it works as an anonymous currency, the security it offers and how it functions, how it works as a decentralized form of currency, as well as all the other ways that it functions.
Books can also give you details about the positives and negatives of investing in and trading cryptocurrencies as well as the differences between crypto and digital currencies. These are some of the best books on cryptocurrency around today, that can give you all the info that you'll need to know.
- Mastering Bitcoin by Andreas M. Antonopoulos
- Cryptoassets by Chris Burniske and Jack Tatar
- The Book of Satoshi by Phil Champagne
- Cryptocurrency by Abraham K. White
- Bitcoin from Beginner to Expert by Christian Newman
- Digital Gold by Nathaniel Popper
The Best Youtube Cryptocurrency Channels
Youtube has become an incredible resource for all types of information, whatever the topic whether it is about Sports, news, opinions, and of course you can learn plenty about cryptocurrency, how to trade it, etc. Youtube is an amazing website for content creators as they have their own platforms to voice their opinions and create useful content for people to learn from or use.
Youtube channels that talk about cryptocurrencies often provide interviews with CEOs, market analysis, and trends. YouTubers have made a living off of the content from their Youtube channels and experts in cryptocurrencies and Bitcoin will be able to help guide you to wise choices when it comes to investing and trading Bitcoin and other cryptocurrencies.
Some of the most famous Youtubers that create content based on cryptocurrency are:
- BitBoy Crypto
- Data Dash
- Coin Bureau
- Alt Coins Daily
- Sheldon Evans
Where to Take Cryptocurrency Classes
If you aren't big on learning from books or Youtube or just need/want more you can take some classes! Classes are a great way of learning about cryptocurrencies and how we can trade them and invest in them. Most of us maybe don't have over fifty or a hundred grand to go out and buy bitcoins. So how can we learn to invest and trade cryptocurrencies and enter the world of trading with cryptocurrencies?
Joining a course and having a teacher explain different concepts is a fantastic way to do so. There are economic classes in college that you can take as well as in your local area. If you don't have the time to go out and find a class, of course online is always a great option.
Coursera, offers courses on all sorts of topics also gives classes on cryptocurrencies. There are plenty of different courses to choose from and take.
Working with a Private Tutor
There are many tutors that have much more experience than you with investing and trading that can help you. If you are just deciding to work on your own or take a class a private tutor can be of great help to you. Apart from some tutors being experts on economics, investing, and business there are those that are also experts in cryptocurrencies that can teach you all there is to know about different cryptocurrencies.
Superprof is an amazing website for finding private tutors. There are many private tutors that are highly qualified and highly rated that also offer online classes as well as in-person classes. Using Superprof you will be able to find a tutor that can show you the ropes regarding Bitcoin and cryptocurrencies.
The platform that connects tutors and students