Topic: CONFUSED NEWBIE - page 2. (Read 328 times)
It's been answered already mate. I suggest when you asked questions here, come here when Google can't supply what you need. These are basic questions that can be searched.
Best tip. Use Google and filter those you can't understand and talk here. I know you are newbie but let's not rely on all answer feeds. We can do it ourselves to find out what we need.
Best tip. Use Google and filter those you can't understand and talk here. I know you are newbie but let's not rely on all answer feeds. We can do it ourselves to find out what we need.
This will be a long-read so spend time:
https://www.google.com/search?q=what%20is%20bitcoin
https://bitcointalksearch.org/topic/general-bitcoin-wallets-which-what-why-1631151
You can also consider using your favorite search engine and hit the search bar with the questions you have listed. You can also refer to some Youtube videos that try to explain bitcoin in layman's terms as much as possible.
It will take time before you understand the basics but just involved with reading crypto-related stuff everyday and soon you will understand those slowly.
Attention!!!
Can someone educate me about crypto currencies. What are they?
How do they work?
How do you buy them?
How do you transfer them?
How do you trade them for cash?
Does their value fluctuate like traditional currencies?
Are their any risk to owning them?
Is there a fraud risk?
- A cryptocurrency is another form of digital currency which uses cryptography to secure and verify transactions and to manage and control the creation of new currency units. Source
-How do cryptocurrencies work? Cryptocurrencies use decentralised technology to let users make secure payments and store money without the need to use their name or go through a bank. They run on a distributed public ledger called blockchain, which is a record of all transactions updated and held by currency holders.Source
-How to buy? neither do P2P or you can in exchangers. Same goes on how you would make out some conversion to fiat.
-When it comes to fluctuation then volatility level is way too far off with those fiat which is one if the biggest differences between them.
-Risk? Of course, since prices are moving in wide ranges then you can neither gain or lost up money in a short time.
-Scam is everywhere thats why only stick out into those top alts into the market and of course Bitcoin should be prioritized.
Can someone educate me about crypto currencies. What are they?
They are virtual or digital currencies that are based on cryptography and hold an economic value thus can also be used as a medium of exchange
Quote
How do they work?
Read here: https://en.wikipedia.org/wiki/CryptocurrencyQuote
How do you buy them?
Through centralized and decentralized crypto spot and P2P exchanges.Quote
How do you transfer them?
From one address of the blockchain to another of the same cryptocurrencyQuote
How do you trade them for cash?
Same answer as your third questionQuote
Does their value fluctuate like traditional currencies?
Of course the value fluctuates. Even way more volatile than tradition currenciesQuote
Are there any risk to owning them?
The biggest risk is volatility and then maybe hacks or theft of your funds from your personal wallets in case your private keys or login credentials get leakedQuote
Is there a fraud risk?
Definitely we have so many scam coins and tokens, scam exchanges and scam investimate programs or ponzi schemes Attention!!!
Can someone educate me about crypto currencies. What are they?
How do they work?
How do you buy them?
How do you transfer them?
How do you trade them for cash?
Does their value fluctuate like traditional currencies?
Are their any risk to owning them?
Is there a fraud risk?
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