I’m sure, just like me you’re constantly bombarded with Bitcoin ad’s several times a day. The more these ad’s pop up while you’re scrolling through your insta-feed in the middle of the night. You can’t help but wonder what’s the fuss all about!
Cryptocurrency talk has become the talk of the year, and before I did my research I wouldn’t have invested my hard earned “real” money over some coins over the internet. Sometimes I have felt that I am left behind when the crypto-talk pops up almost everywhere I go. Party? Lunch? Dinner? Wedding? Office? Literally, everywhere.
So, I decided to do my own research for the heck of it! If you have a curious bone in your body and want to learn a thing or two about cryptocurrency. Even if you’re not interested in investing, you can still flaunt your crypto-knowledge among your friends or family and look like a total pro. It’s a win-win.
Learn the Basics
To avoid looking like a complete idiot in-front of your friends or family, it’s super important to have some proper, emphasis on the word “PROPER” basic knowledge of the topic. It’s a universal rule for almost anything. If you decide to pick up a fact from here or there and whip-up something in the moment, it probably won’t end in your favour. Don’t say we didn’t warn you!
Your conversation will be celebrated and appealing only if you know what you’re really talking about. To start you off, here are a few basic facts that you should know about cryptocurrency.
- Cryptocurrency are virtual currencies which are protected by highly complicated and difficult protocols.
- No government or financial authority is involved in these virtual currencies and the transactions are of public record.
- Currently, there are about 1300 active cryptocurrencies.
- The blockchain technology is basically the infrastructure of cryptocurrencies. It’s a digital ledger which is decentralized and records all the payments and transfer transactions in a very safe and efficient manner.
- Bitcoin and Ethereum for now are the main cryptocurrencies and create the major buzz.
- Fun fact: trading, making payments and even buying goods and services in digital money is declared illegal in some countries like Bolvia, Nepal, Bangladesh, Morocco Ecuado and Kyrgyzstan.
- Bitcoin was released in 2009 by a person named Satoshi Nakamoto and to date he is the king of cryptocurrencies with an estimated market cap of $236 billion.
- Another crowd pleaser is Ripple. It was released in 2012 and its mostly popular in banking and other financial institutions because of its reliability, security and speed. It’s the third largest cryptocurrency after Bitcoin and Ethereum.
Slay – the Crypto-talk
To slay every crypo-talk, it’s important to voice your own strong opinion. A good idea would be to include some realistic predictions for the future about.
Mention, how you believe that Bitcoin, Ethereum and other cryptocurrencies in the almost near future will be accepted as a tool for payment everywhere and will be more valuable. For instance, there are already several major companies like Subway, Lionsgate Films, Badoo and Target, which have started to accept payments through Bitcoin.
There is even a huge possibility that at one-point banks will start the cryptocurrency payment system. Mostly because it will facilitate the banks and financial sector in speeding up the work and will also reduce the need for human resources. Undoubtedly, the transactions will become much smoother, quicker and indisputable just because everything will be processed through a difficult and highly smart mathematical algorithm model.
You’re almost a Pro-Trader (Use your knowledge)
If by the end of all the crypto-talk your interest is a little spiked-up and you’re tempted to try the world of digital currency. Then there might be something interesting for you, there are a lot of trading simulator apps that offer you a similar experience to the real cryptocurrency market. It’ll allow you see how things work and won’t require you to risk your real money.
Bitcoin Flip Trading Simulator, is one of them. Its available for iOS and Android Users. You can trade with some of the most popular cryptocurrencies such as Bitcoin, Ethereum, Monero, Litecoin, Ripple and Dash. Everything that happens on this app is in real time.
But, the plus point is no real money is involved and that brings no risk. A good way to learn how everything goes about in the crypto-world would be to intelligently analyse the charts and pick a cryptocurrency which you believe suits your style. It can be super fun to trade! While you’re at it, you’ll notice your crypto-knowledge and your trading skills will unconsciously improve.
Flaunt your Crypto-Knowledge
Congratulations! You’ve officially survived the CRYPTO-TALK