A Complete List Of All The Basic Useful Essentials About Cryptocurrency
Hello fellow frienditors.
This List Will Contain Some Of The Basics Fundamentals From Whole Subreddit.
From what I’ve read and seen here during my actuation, I’ve managed to dig deeper into the waters of this subreddit, so I can highlight you the most efficient and basic ones. I decided to make a decent comprehensive list about the most asked and frequently asked questions in this subreddit. I suggest you to use this list as a “brain in your pocket”. You can save this list and come back to it whenever you need to.
I’ve managed to dig deeper into deep waters to collect as many helpful resources and threads as was possible that were posted here and got a decent positive responses, so you don’t have to waste your time finding them. I’ve collected a decent amount of all the frequently asked things in hundreds of posts but I will try to keep it simple and share here only ( in my opinion ) the most efficient ones.
Bear in mind, that these topics can be outdated already and can vary in some aspects. It’s not sure that they are 100% accurate at present, but I will try to pick the best pieces.
At the end of every topic, after my short introduction to these essentials in this thread, there will be very decent, helpful, informational, deeper links to posts that are describing the talking threads in depth.
CRYPTOCURRENCY IN GENERAL
If you’re here, you probably should already know what is cryptocurrency. If not, then here is the short simple answer: Cryptocurrency is a digital currency that can be used to buy services or goods. It can be used as a store of value. Cryptocurrencies are using strong ledger which is securing online transactions. This makes it literally nearly impossible, impenetrable to counterfeit. There are currently over 8.700~ cryptocurrencies listed on CoinMarketCap.
DYOR – Do Your Own Research
DYOR. Yep, you probably saw this acronym many times in this subreddit. In short, “DYOR” (not Christian) means that you should never, never and never trust an any other company, people, project team or anyone else without proper verifying of the information that they provided for you. Always compare their suggests to your OWN RESEARCHES.
Nobody will tell you truly, how to get rich. They want to make rich off you !
A wallet is a important thing to own when you’re working with cryptocurrencies. A crypto wallet can be device, program or a service which is storing your keys or seed. These keys or seeds are being used to verify yours transactions in order to prevent someone else from using your cryptocurrencies. You can store in them your cryptocurrencies pretty much totally safely, or even your FIAT.
Our dear sweet MOONs. MOONs has been created as this /cc subreddit points and they can be used for exchange to FIAT or any other cryptocurrencies, buying Reddit premiums or even for tipping someone ! It can pay your bills too! Reddit moons have paid for my bills two months in a row by u/AvidasOfficial . Or even they can pay your debt ! I sold my 78k moons to pay off my debt! by u/Wulkingdead . MOONs are practically community points what all of us can use, earn on this subreddit. You can buy them too!
Simply, Exchanges are Platforms. Platforms that we’re using every day to trade our cryptocurrencies for other assets, including either FIAT or digital currencies. They act as intermediary between the seller and the buyer. For this job, we’re paying them the transaction fees or commissions.
Dollar Cost Average (DCA)
It is an investment strategy/technique in which an investor is spreading his crypto, stock or fund purchases. It’s a strategy where you’re buying at regular intervals ( weekly, monthly, every other week etc. ) with a roughly similar equal amounts of money. It aims to reduce the volatility and minimize risk.
OTHER EDUCATIONAL THREADS
I will tell you exactly what is going on here, this is critical information to understand if you’re going to make money in this space. How prices work, and what moves them – and it’s not money invested/withdrawn – u/Suuperdad ( 3 yrs old thread but still relevant )
I would like to ask you kindly to suggest some more USEFUL threads or links in the comment section below.
NOTE TO ALL :
This Comprehensive List Of All The Basic Useful Threads should only be used for an educational purposes ONLY. I am not forcing anyone to listen, read and use these posts for your present and future investments. In my opinion we should learn from them. Otherwise, use this list as a white paper/ starting point on your journey, not as your “get rich quick scheme” or “business plan”.
I am not a financial advisor. I am not taking any responsibility for the things that were showcased.