Crossing The Rubicon: Cryptocurrency Cheat Sheet (Top 50 Cryptos With Description)

About Me

RE: Bitcoin FAQs

Who Created Bitcoin?

Rumors abound, but no one knows the creator by face. The person or group goes by the name Satoshi (based on the pronouns in the white paper, I believe Satoshi is a group). You can read the white paper by clicking on the link below:

Bitcoin: A Peer-to-Peer Electronic Cash System

What is the best way to obtain Bitcoin?

The best way to obtain bitcoin is to earn it. The price is highly volatile, so you don't want to invest money you need. Start off slowly with a bitcoin faucet.

There are many scams in the bitcoin community so I researched a few faucets that are legit. I've personally made over $1,000.

I wrote two articles about this on Medium:

1) How Much Can You Make on Coinpot in 1 Year?

2) How Much Can You Make On Cointiply’s Bitcoin Faucet?

You won't make much using these faucets, but it will give you an understanding for how bitcoin works. Take about 3 months to understand bitcoin (security features, how to withdraw funds, how to receive funds, and how to protect your wallet) before investing in it. Best of all, there's no risk to you when you earn bitcoin through faucets and it can even be fun.

It's important to understand there is a learning curve to bitcoin, and bitcoin faucets like Coinpot and Cointiply can help new users join the crypto community without risking anything but time.

Where can I purchase bitcoin?

If you're ready to make your first purchase, I recommend ABRA. They also have some great tutorials.

Where can I trade Bitcoin/alt-coin?

In terms of new offerings for coins (ICOs), Binance is the best, but you can also trade on ABRA. That said, not all exchanges are the same. Let's explore what you should be looking for from an exchange...

As a quick primer: Exchanges are not the same as trading houses. Exchanges are places where you can buy cryptocurrency. They don't necessarily have the best markets. Trading houses specialize in making markets in certain crytpo-crosses. The trading house you go to depends on the amount of volume that house has in that cross pair. Just because Bittrex has the largest trading volume in BTC/ETH does not mean it has the largest trading volume for BCN/BTC. The best place to trade is the best trading house for your currency pair. You can find the trading house with the highest volume in your currency pair by going to Coinmarket Cap and looking up "Markets" for the crypto you're interested in. I like Binance because it offers a lot of ICOs that Bittrex doesn't. Still, the best trading house for you to trade in depends on the currency pair.

What hardware wallets are the best?

If you want to store your cryptocurrencies safely, the best way is through a hardware wallet like: Ledger Nano S, Trezor, Ledger Blue (expensive)

I like the Ledger Nano S, but the Trezor is a close second. Ledger Blue is premium and convenient, but unnecessary.

What is the best way to learn more about investing in crypto?

For more information about all things bitcoin, check out the left-hand column of this blog and the crypto cheat sheet below.

Crossing The Rubicon

Friday, December 21, 2018

Cryptocurrency Cheat Sheet (Top 50 Cryptos With Description)

Bitcoin: A Peer-to-Peer Electronic Cash System

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