Skip to main content

Things you really need to know about Cryptocurrencies

Things you need to know about Cryptocurrencies 







The bitcoin has taken over the world of internet and has became one of the most searched topics on google in a very short span of time ,all because of its high value as compared to other currencies.By the time I am writing this post the 1 bitcoin is equivalent to 13543.39 USD, this alone tells us how powerful cryptocurrencies are.

As cryptocurrencies are becoming a global phenomenon more and more people are trying to buy them, increasing their demand and hence the market is now flooded with several crypto currencies.

But still crypto currencies were the most misunderstood topic throught the last year.People are still confused about it as china has banned bitcoin exchanges (and other countries 
may do it too) and countries like russia trying to make there own cryptoRuble.

With so much happening everyone irrespective of whether he will invest in the cryptocurrencies or not must know about them.Here are some things you need to know about cryptocurrencies. 

1).Their origin

The first cryptocurrency was created in 2009.
Bitcoin, was the first cryptocurrencyand since then, many other have been created often known as altcoins,(bitcoin alternative). and all of them use decenterlized system as compare to the centralised  system that is used by our well known currencies.

2).Who decides there value


The price of every cryptocurrency is determined by the demand and supply(at the exchange where it gets traded. ) of that cryptocurrency.But this not the only factor,price may be driven by many other things such as..,

     1). Supply and demand on the exchange

3).Should I buy some/Invest in cryptos

Lets get it straight, it is very risky currently. The question in the heading is most asked
and answered question in the world right now(ah...maybe not). You see Price of Bitcoin can fall up to 30% in a day and that is very normal. So its more like gamble, but in long term you will win something. Let's break it down..


 Do not under estimate or overestimate it.

People either over estimate or under estimate the cyptos, some look at form the perspective that once it costed  $1/BTC and some look at it as nothing but some new overhyped technology that they don't understand properly.But in reality, its just another type of investment, like when you invest in share market.Its not something which make millions from few dollars(atleast not so fast), but may double your money.


Invest only that much which you can loose, don't put your life savings


Time is everything

As market is open 24*7 and things changes very fast,  Even second of delay can cause a huge loss.

Buy when the prices are down and sell during the high time 

this will save you from losing money.The intermediate time is very important to identify here as knowing where the graph is going is very important.

4).Why and How to stay updated with them

As I said the time is very important in cryptocurrency market, so its really very important to stay updated. Now without wasting your time here the links to the some of the best source that i found very useful.

The Father Of All  -  Google

Google is the best way to find the news about any topic, and  for most of the things like knowing the current price or
just searching for latest news google will work fine

Reddit



Twitter


Search for Bitcoin-related hashtags on Twitter like #bitcoin, #cryptocurrency, and, for example, #BTC or  use Twitter’s search functionality.


On Android you can follow the coindesk app. I haven't personally used it but many people recommend but in general above sources must work fine.


Final Note


Whether or not you like it, understand it, cryptocurrencies are like internet in 1990s,
It may change a lot after 10 years from now but it will affect our lives to some extent, knowing then properly will help us prepare ourselves for near future.



Labels:

Comments

  1. Unknown1 January 2018 at 11:25

    My hisband started trading in the bitcoin 3 yeard ago and since then my life is just all about crypto currency. I will make sure to let him read your blog 😁

    ReplyDelete
    Replies
    1. Dee studio1 January 2018 at 12:36

      Thankyou so much i hope he will find some value in this post

      Delete
  2. Wiola and Mike1 January 2018 at 11:31

    This comment has been removed by a blog administrator.

    ReplyDelete
    Replies
    1. Dee studio1 January 2018 at 12:35

      Thankyou so much...i really appreciate your reaction..

      Delete
  3. Unknown1 January 2018 at 18:09

    Your articleis quite helpful to invest in cryptocurrencies. I have been searching a method to invest in bitcoin. Thanks for sharing.

    ReplyDelete

Post a Comment

Popular posts from this blog

Gdevelop: How to manually export to android or ios using Cordova

In this post we will see how to export your Gdevelop project to android or ios manually using cordova. Gdevelop provides a web service for export to android or ios. But it is a paid service it only provides 2 exports/day. By paying for subscription you support developement of Gdevelop but it you don't want to pay, Gdevelop provides you with an offline option. We will see how we can export Gdevelop project as a Cordova project and build it using a cordova by ourselves locally on our computer. Obviously for FREE!!. Lets get started. Prerequisite  I am assuming you have Android SDK installed on computer.If not then download it and install it first. I am not covering it here as it is a general thing and you can find plenty of tutorials and also that it will make this post unnecessarily longer. Also cordova requires node.js installed on your computer..Installing is as easy as downloading the installer and running. Link :  https://nodejs.org/en/ After installing the node.js
22 comments
Read more

Gdevelop 5 : How to Find Distance Between Two Objects

In this Post we will learn how to find distance between two objects in Gdevelop 5. Many times we are required to find distance between two objects Gdevelop provides inbuilt functionality for this purpose just let's get started. Creating A Project We will start by  creating an empty  project.  So click on create a new project and name it distance between two objects.  Let's quickly add a scene and a sprite. Let's add another sprite. I will also add text to display the distance between these two sprites.  Let's add these objects to the scene.Now let's head over to the event sheet and Add an event.The condition will be empty and action will to display the distance. So choose the distance choose->modify text and operator be set to equal and click on then expression button. We first have to convert expression to string choose conversion and then number to text. Click on the expression button and then search square root. Click on expression button again and this time
18 comments
Read more

[Inkscape] : How to import inkscape SVGs in Html file

[Inkscape To Web]: Make beautiful sites with SVGs In this tutorial we will make a SVG drawing in Inkscape and will use it in a webpage. The goal of this tutorial is to know how to make beautiful SVG Drawing for your website. Before starting you should have following things, Familiarity with SVGs/Inkscape and HTML  Inkscape Installed. How to Embbed Step 1: Open Inkscape. Now make a simple Shape. I am making a polygon,                                       [Click on the Image to Enlarge] Step 2: Now save it as a svg. The inkscape saves its files as svgs but it is not compatiable with html. It a lot Inkscape specific(useless) data. To save it as plain Svg. Click on File->Save as. Then from dropdown box in the dialog box. Choose the .PlainSvg.  [Click on the Image to Enlarge] Step 3: Now open your favorite code editor i am using the brackets. Now open this .svg File that we just saved using Inkscape.   [Click on the Image to Enlarge]
13 comments
Read more

Gdevelop Game Debugger and Profiler Tutorial

Gdevelop Game Debugger and Profiler In this post we will learn how to use Debugger. It helps us remove bugs from our game. A bug is basically a error or fault in our game that makes game work in in intended. A debugger helps remove bugs from our game. Debugger    Its a tool that is used to inspect the variables and objects of game at runtime. It gives us information about the objects and variables in the game. By using this information we can track the bugs in our game. It Debugger as it helps us remove the bugs from our game.  Using Debugger we can inspect  global variables, scene variables and variables of instances of  objects in the game. We can then analyse this information to find problems in our logic and game. How to Launch game with the debugger To use the debugger, we need to launch the game preview using the Debugger. To do this just go to the toolbar of a scene editor, click on the “Debug” icon and then choose “Preview with debugger and performance
18 comments
Read more

How to make Make money with Inkscape

How to make Make money with Inkscape Inkscape is a free and open source but professional vector graphics editing program for Windows, Linux and Macintosh. A Free alternative to Adobe Illustrator and is used by a lot of enthusiasts, art students and artist all around the world. Ah.. you knew this already? Right!! Otherwise why would you read this post. So here are the ways to make money with inkscape. Selling Vectors This is an obvious one but not as easy as it seems, you see there is a lot of competition, you will  hundreds of sites if not thousands for selling vectors with tens of thousands of sellers on them also it's not that you can sell anything made with inkscape you need to follow some standards.For example here is an article which might be helpful, http://sellingvector.blogspot.com/p/how-to-start-selling-vectors.html?m=1 Tutorials If you want to know more about how to sell vectors created in inkscape then you should read
24 comments
Read more

Blender 3D Graph Builder Addon Tutorial

Graph Builder Addon lets you generate 3D Bar Graphs from simple values. The bars can have simple animation.In this tutorial,I will be making a simple 3D graph in blender with this Addon. You can download the addon on Github and download the data that I am going to use  and end result from here , in case you want to follow along . Though you can use any data you want, just make sure data values are integer and each value is separated by a comma.  Just to give you an idea Graph Builder addon work like this.   Installation Just extract the file. Open Blender and go to user preferences and select “install from the file”. Then locate and choose the graph.py file. Tutorial: There are 4 panels in the addon. We will go to them one by one and see what are their usage. Step1:  Copy Data into the data values and set the factor. Here, you want to enter the values that will be used to draw the graph. Each value represents a bar on the graph. Values must be s
13 comments
Read more

A Quick Look at Machine learning

A Quick Look at Machine learning Ever heard of ‘Artificial intelligence’, of course you did after all we all watch sci-fi movies. But if you ever tried to know more about AI then you might have heard about Machine learning. Also in past few years it's been a hot topic in computer science. So, what is machine learning??. Let's talk about this…, Computer are everywhere today, even in your pocket (your phone).They help us do a lot of thing but in reality these are just calculators with logic and control circuitry.Therefore we can program them to do different tasks.But there are scenarios where we cannot predict the situation and its nearly impossible to program the computer for that.For instance , CCTV Cameras are installed at many places and surveillance has become very easy as it can be done remotely but we need a human to process the video from the cameras as a computer cannot tell us if everything is ok or not.Now imagine if the computer can automatically dete
5 comments
Read more