Topic: Information for beginners in the Crypto world (Read 116 times)

From my personal experience, no one loves to read in 2023. Until and unless, you use proper formatting, use images to explain what you mean or give examples.
Your post doesn't have any of that so I would prefer if you at least add some Bold, Italics, Headings, etc in the post.

Other than that, try to make it one-liners like this:

1. Not your keys, not your coins.
2. Do not invest in Shitcoins or Memecoins.
3. Prefer DCA rather than All-in.

Personal research is very important to newbies to always apply to identify the potential coins in the market, to make a good choice before investing in that particular coin which is the best tools many investors used to improve their income in the community. Do everything possible within your capacity to invest in bearish season, which is the best period to invest money on that particular coins that will increase price in the future to help their investors to experience great things in their investment when the market price change positively. As a newbies don't depend on one coin alone, because anything can happen that will make that coin to remain low in the market and it will cause you delay, but if you invest in Bitcoin and other cryptocurrencies, i think it will help you to achieve your dreams in the future.

Point 7 above sounds good. The value of Bitcoin and other virtual currencies can rise or fall substantially, despite experiencing a decline in prices this year, cryptocurrency continues to experience growth in both users and merchants who accept it as payment.

My friend. BTC is a good investment.

I think it should be made clear to beginners right from the start what a currency means. A currency is money, a medium of exchange. Cryptocurrency has already grown into something else. So it cannot anymore be defined simply as digital currencies. In the first place, the huge majority of cryptocurrencies nowadays aren't acceptable in any store anywhere in the world.

Second, we have this common assumption that crypto is decentralized. It isn't. There are so many cryptocurrencies that are centralized.

I guess we should avoid equating Bitcoin with cryptocurrency. Bitcoin is cryptocurrency, the real cryptocurrency. But it cannot be vice versa. Not every cryptocurrency is Bitcoin. Others may be saying Bitcoin, not crypto, but I don't agree. Bitcoin is crypto. What is not crypto are those shitcoins claiming to be such.

Since you are not talking about Bitcoin, but you are talking about all cryptocurrencies including centralized coins, I would like to point out something.

Not all cryptocurrencies are decentralized. Most of them are centralized and could be controlled by their devs. There are 1.8 million crypto based on Coinmarketcap, and 1.79 million are centralized. The developer team holds the maximum shares of the total supply they will use against their holder once people start investing in it.

3. How is the value of a cryptocurrency determined and how can it vary in the market?


Not true. Half of the cryptocurrencies do not have any supply limit. ETH is an example. ETH moved from POW to POS, which has no maximum supply limit. So, it's not decentralized. However, ETC (Ethereum Classic) has the maximum supply limit. I do not trust any coin that does not have a maximum supply limit.

Here we need to add that cryptocurrencies also can be lost by the owner if he doesn't do a proper backup. There is a lot of Lost bitcoin because this motive.



We can avoid begin tracked if we have a good coin-control an if we make transactions like Coin-join and STONEWALL, also we can use Mixers here.


Just lets to remember that exchanges also can be hacked.

Not your keys not your coins

Here I show you 8 important points for those who begin to enter this immense world of cryptocurrencies, in a summarized and direct way.


1. How exactly do cryptocurrencies work and what is the technology behind them?

Cryptocurrencies are digital currencies that use cryptography to support and verify transactions, as well as to control the creation of new units. In technical terms, they are based on distributed ledger systems (DLT) called blockchain, which allow decentralized and secure verification of transactions on a network. Once a transaction is entered into the blockchain, it is virtually impossible to alter. Blockchain technology also offers transparency in the trail of each transaction on the network, which implies greater security and confidentiality in the management of information.


2. What is the difference between a cryptocurrency and a traditional currency issued by a central bank?

The main difference lies in its structure. A traditional currency is a form of currency in which its value is backed by trust in the central authority that issues it. On the other hand, cryptocurrencies are independent of any central entity and operate on a decentralized network, so their value is based on supply and demand in the markets and their use for the execution of transactions. Ultimately, cryptocurrencies are a digital alternative to forms of state currency, offering a payment and storage of value system that functions in a more autonomous and decentralized manner.

3. How is the value of a cryptocurrency determined and how can it vary in the market?

The value of a cryptocurrency depends on supply and demand in the market, like any other tradable asset. Each cryptocurrency has a limited supply, meaning its value can be influenced by the amount of demand for it. Also influencing its volatility is the fact that many people and institutions can buy or sell large amounts of cryptocurrencies simultaneously, which can increase or decrease its value. However, cryptocurrencies have no fixed intrinsic value, so they can experience drastic fluctuations over short periods of time.

4. Can cryptocurrencies be subject to theft or hacks and how does one protect against them?

Yes, cryptocurrencies can be subject to theft and hacking, and there have been many cases of people losing their cryptocurrencies due to false exchanges, theft of private keys, or electronic fraud in virtual wallets used to pay with these currencies. Protecting cryptocurrencies involves a high degree of security and caution, including storing private keys in secure locations, investing in hardware wallets, and using secure online payment methods.

5. What type of government regulations exist and how do they affect the use and trading of cryptocurrencies?

Government regulations on cryptocurrencies vary significantly from country to country. While some countries, such as Switzerland and Japan, have accepted and adopted regulations to regulate cryptocurrencies, others have chosen to ban them. Government regulation can impact the value and demand for cryptocurrencies, limit their use or trade in certain countries, and generally influence payment systems and the adoption of cryptocurrencies in the economy.

6. Can cryptocurrencies be used for illegal activities such as money laundering and terrorist financing?

In some cases, cryptocurrencies can be used to finance illegal activities, just as happens with traditional currencies, but it is important to remember that transactions on the blockchain network are recorded and are completely public activities, so any attempt to use cryptocurrencies to Illicit transactions can be easily tracked and detected.

7. How can I start investing in cryptocurrencies and what precautions should I take?

To start investing in cryptocurrencies, a process similar to any investment is required, including selecting a reliable trading platform, investing in a currency, and the hosting and security procedures necessary to maintain the investment. As a precaution, it is advisable to thoroughly research the trading platforms and cryptocurrencies where you wish to invest, and also diversify the investment to minimize risks and minimize exposure to large losses.

8. What is the impact that cryptocurrencies can have on the global financial system and how can they change the way we do business and handle money in the future?

Cryptocurrencies have great potential to transform the global financial system and the way we manage money. Decentralization can reduce the need for centralized banking institutions and increase the transparency and security of transactions. In addition, the use of cryptocurrencies and their compatibility with the federal payment system can reduce the commissions and costs of international financial transactions, allowing business to be conducted globally. They could also improve financial inclusion in developing countries where banking systems are not as developed. The adoption of cryptocurrencies is a very complex issue, but it undoubtedly has the potential to transform the economy worldwide, which makes its study and evaluation increasingly important.