Radoeka

Richard's gebabbel

zo 14 januari 2018

References to interesting webpages related to digital or crypto currency

Posted by radoeka in Crypto   

Interesting Crypto Coin References

This is a collection of references to interesting webpages related to digital or crypto currency.

Often encountered abbreviations

Abbreviation Meaning Explanation
FOMO Fear Of Missing Out When a coin price rises drastically, late buyers jump on the hype fearing to miss the enormous gain. Often those byers are indeed too late, and buy high instead of low….
FUD Fear Uncertainty and Doubt
HODL Hold On for Dear life Your buy went down. Now you need to wait, wait, and wait to and wait till it goes up again, and actually never sell again.
PND Pump and Dump One or multiple big buyers (whales) buy large amounts of a coin. Due to FOMO other smaller byers start buying. At this point the whales dump the coin with a nice gain, leaving the small buyers behind with a loss… article explaining this phenomenon
ICO Initial Coin Offering
POW Proof Of Work The method how Bitcoins and many coins transactions are checked. This requires an enormous amount of energy.
POS Proof Of Stake Alternative method to check the coin transaction. This is energy friends as coins are staked by the coin holder to the network.
POS Proof Of Space An other method and hardly used yet to verify coin transactions. In this case the miner must offer free disk space.
FIAT - Reference to our regular money (silver, gold, etc coins and paper money)

Some important rules

  • Always buy low and sell high. It’s that simple, I’ll repeat it once more: always buy low and sell high!
  • Buy low, means at 50% or less from the previous high (top). Even when you don’t expect a coin will go lower, it does…. Just be patient. Buy low!
  • Never FOMO! When the price rallies up, do not enter! Wait till the price goes down again. Watch this Youtube movie about investor pyschology FOMO and FUD and loss aversion are very serious parts of investing that can have consequences for all.
  • Proven resistance will act as first level of support
  • The goal is to get more Bitcoins (not to get more USD)
  • Set a stop loss, at around 10% under the price you bought the coin. Doing so prevents your loss to 10%, hopefully you can compensate with better buys!
  • Do not get emotionally attach to a coin. It’s pure business…

General digital currency information

Exchanges

Following this alinea there is a list with coin exchanges. The first two listed exchanges are Dutch. Once a coin is bought, it can be transferred to an exchange like Binance or Bittrex where many many other altcoins can be bought.

Exchanges in Nederland

Exchanges to trade

  • Bittrex provides many alt coins. Bittrex fee is 0,25% for each buy and sell trade. When you trade with at least 1% buy and (upwards) sell difference you’re good.
  • Binance provides many many alt coins (use this link to Binance please, when registering with Binance as it contains my referral id). Binance fee is low 0,1% for each buy and sell trade, when you use their coin to trade the already low fee is reduced to 0,05%. The fee structure when withdrawing from Binance.
  • Kucoin Exchange with many altcoins not present at other exchanges. Use this link to Kucoin please, when registering with Kucoin as it contains my referral id)
  • Etherdelta is a decentralized trading platform that lets you trade Ether and Ethereum-based tokens directly with other users. You can trade any token on EtherDelta just by choosing ‘other’ and punching in the smart contract address and decimals (may in come handy for coins that are in ICO phase).
  • Buy Bitcoins worldwide

Wallets

Monitor / Follow coins

Bitcoin

Community

Youtubers

Twitter

Owning coins

Android Apps

  • Telegram (almost) each and every coin has its own telegram channel
  • Google Authenticator required when using various exchanges. A must have to protect your assets!
  • Tabtrader use it in combination with the various exchange API keys to monitor your coins at the various exchanges
  • CoinManager use it in combination with the various exchange API keys to monitor your coins at the various exchanges
  • Delta very nice portfolio manager
  • CoiNsider it has a nice tab with a percentage figure for buying and selling. Use different portfolio’s, for example; 1) for the coins you bought, 2) for high potentials, 3) coins adviced by Youtubers or Telegrammers, etc.
  • Blockfolio
  • Coinomi Wallet multi crypto currency wallet
  • Qoinpro see my article about free crypto currency
  • Bitcoin calculator

Inital Coin Offerings

Mining

Warning: Stay away from mining schemes. Most of them, to name a view: Genesis-Mining | bicointalk | is it profitable to mine with Genesis Mining?, Hashflare, Hashing24, etc seem to be based on a ponzi scheme. Youtubers are often very enthousiastic about them, but that is because they get lots of reward because of the affilication links they provide. How much can you make with cloud mining?

There are perhaps a view that may work, like: Hydrominer (see list below), Nicehash (review), Slushpool (review) or Pool Bitcoin (review), but do your due diligence thoroughly before going in!

Bitcoin is very dependend on the bitcoin difficulty. The more miners the higher the difficulty, the more difficult it gets to find a block. More effort, less reward. The difficulty expectation can be looked up at cryptothis.

Security

News articles


 
    
 
 

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