Beginner’s Guide to Digital Currency
Let us take you on a guided tour of the fundamental elements of four of the most popular networks in the crypto universe: Bitcoin, Litecoin, Ethereum, and Ripple. To the moon!
Sick and tired of your crypto mates using a bunch of jargon you have to google to understand? We’ve got you covered with our dictionary of crypto slang guaranteed to get you talking like a pro in no time.
The blockchain is the foundation technology upon which all cryptocurrencies are built. The first implementation of a blockchain was in 2009 when the Bitcoin protocol was launched by Satoshi Nakamoto. While blockchain technology is relatively young, it is the basis for all digital currencies that exist today.
Litecoin was the first cryptocurrency to be forked off of Bitcoin, with its own features to make it unique. To truly understand Litecoin, you must have a decent understanding of Bitcoin and blockchain technology.
Ripple is a payment platform designed to provide solutions for cross-border payments. It’s also one of the only cryptocurrencies designed to assist fiat currency rather than replace it. Because of this, and the fact that it is not truly decentralised, it’s one of the more controversial digital currencies around. Read on for more about how Ripple works and what it’s used for.
The Ethereum network, which runs the cryptocurrency ether, is becoming increasingly popular. Where Bitcoin uses blockchain technology for financial transactions, Ethereum uses it for decentralised software applications.
Read on to learn more about it, why it’s worthwhile paying attention to and how to show your support.
Bitcoin is known for being the first ever cryptocurrency in existence. It’s also the most popular and well supported out of all the digital currencies. In this section of the guide, you’ll learn more about Bitcoin, where it came from, what it’s used for and how to buy it.
Understanding the risks of any practice in which we trade, invest or spend money in is crucial for financial protection and preservation. This is fundamental to trading responsibly, and applies to any investments you make, not just with cryptocurrency.
There are many ways you can keep your coins safe and secure. As always, we recommend that you research thoroughly before spending, sending, trading and storing your money (in all its forms – fiat and cryptocurrency) anywhere.
Alternative Coins (aka altcoins) are now becoming more common on the cryptocurrency scene. If you’re new to altcoins, then giving this your full attention will clarify more than a few things for your future trading.