Celan Bryant (CB): A Blog About The Bitcoin Revolution: Cryptocurrency Cheat Sheet (Top 50 Cryptos With Description)

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Answers To A Few FAQs

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 like Coinpot. I wrote an article about this on Medium: How Much Can You Make on Coinpot in 1 Year? 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. It's important to understand there is a learning curve to Bitcoin, and I like bitcoin faucets like Coinpot because they help new users join the crypto community without risking anything but time. You can also earn Bitcoin by doing gigs on Craigslist.

Where can I buy Bitcoin?

If you can afford to invest in highly volatile assets, I recommend Abra. Find out how you can get $25 in bitcoin for a $5 deposit here. Evidently, you can also buy up to $2,500 Bitcoin at your local grocery store from the CoinStar locations starting in May, 2019.

Where can I trade Bitcoin/alt-coin?

I recommend Abra. One thing that I like about Abra is that it provides a safe environment for you to store crypto (temporarily) while also providing a marketplace for exchange and a trading house. It also allows you to trade stocks and bonds. International traders have even more options.

That said, not all exchanges are the same. In terms of new offerings for coins (ICOs), Binance is the best, but it's good to have options.

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, the best trading house, depends on the currency pair you are trying to trade. 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, you can sign up without a bank account, it accepts US traders, and commissions are 50% if you pay in Binance coin. Binance coin is also performing well. 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.

The best soft wallet is Abra. It includes Dash. You can also try Exodus.

What is the best book for investing in crypto?

Cryptoassets

This is one of those holy grail reads if you want to know more about investing in Crypto. It avoids technical jargon and focuses on the main things you need to focus on to maximize profits. It's a comprehensive read no matter your level of understanding. Beginners will find information about cryptocurrencies (not just Bitcoin) and experts will find the chapters on valuation particularly useful. It also explores correlations with other asset classes like gold and ETFs (one of my favorite parts of the book). I highly recommend.

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

Celan Bryant (CB): A Blog About The Bitcoin Revolution

Friday, December 21, 2018

Cryptocurrency Cheat Sheet (Top 50 Cryptos With Description)

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