This is a guide to using and understanding blockchain and Crypto
The only way to do that is to get your hands dirty and touch all the critical parts that let you hold, buy, sell and use it. Here are 6 simple steps to help you begin doing that today:
- Transfer $5 onto an exchange and trade it for a Crypto of your choice
1. Use this link and get $25 free Bitcoin when you top up $5
2. Withdraw the $5 and educate yourself risk-free!
- Select a Cryptographic wallet to Store your Coins in securely
1. If you don’t own your private keys, you don’t own your coins
2. Storing your coins on an exchange is dangerous — DO NOT DO THIS
3. I use a Trezor ONE hardware wallet to store all my cryptocurrency
4. I would recommend BTC.com as an online wallet first step
- Transfer the Cryptocurrency in Exchange account to your Wallet
1. Understand how to use a public key and what it is
2. Go to transfer/withdraw, carefully enter the public key of your wallet
3. Be sure to triple check you have the right address!!
4. If you get it wrong your coins will be lost forever
5. Once you are certain it is right, hit send
- Transfer the Cryptocurrency back to your Exchange Account
1. Repeat the above steps in reverse
2. Triple check you have the right address!!
- Trade the Crypto of Choice for another token
1. It is valuable to understand the mechanisms of exchange
2. Repeat all the above steps for certainty on all steps
3. Double checking everything is your friend
- Exchange back to Fiat then Withdraw to your Bank
1. Understanding how to get back to the Fiat world is crucial
2. Feel free to exchange back to Crypto at any point but DO THIS STEP!
3. Sit back, relax and enjoy the magic of your knowledge
Congrats! You’re a Cryptocurrency and Blockchain Master
Only joking, but you’re a number of steps ahead of almost everyone else who claims to be an expert. The Truth is the barrier to that title is incredibly low. To reach the Cryptocurrency and Blockchain 1% all you have to do is this:
- read 1 x book on Crypto
- read the Bitcoin whitepaper
- read 1 x book on Blockchain
- make 1 x Crypto transaction
Do that and you can confidently say you are in the top 1% most knowledgable people on Cryptocurrency and Blockchain in the entire world.
That’s how low the bar is.
In fact, as I’ve begun to say that to people, evidence has made me realize that my initial estimation is off by two orders of magnitude.
0.1% would mean you were in the top 7.5 million
0.001% would mean you are in the top 75,300
Do you wish you‘d been one of the top 75,300 most knowledgeable people in the world about the internet before its rise?
That is the same opportunity you are faced with right now
As the majority of your peers fake it until they become it you can race ahead of them through simple actions which endow you with a unique set of skills and knowledge. While they try to reinvent the wheel you can build mechanisms which literally change the world.
If that sounds grandiose, that’s because it is.
The people who revolutionized the internet understood how the pieces could fit together and then created what was previously impossible.
The networked age wasn’t achieved by copying what came before it.
Bitcoin and Blockchain ARE the revolutions they have been painted as. They will change the world in ways we are currently unable to imagine.
- In simple ways, ensuring a level of transparency, trust, and security that without it could never be achieved.
- In hard ways, improving finance and cutting intermediaries who steal pennies from our cash.
Do or do not, there is no try.
This fork in the road presents two distinct options — action or nothing
One sends you backward, the other to the front of the line
By doing something, anything at all, you face the prospect of discovery and have the chance to learn