Cryptocurrency Detailed Guide
Cryptocurrency fast guide. We’ll make it short as possible, learn this and say hello to the future
Table of Contents
Introduction
Thank you for taking the time to learn Cryptocurrency. By learning this method and using this method, you help all industries that are criminalized by banks, such as CBD, Hemp, and Kratom
What is Cryptocurrency
A cryptocurrency is a digital or virtual currency that is secured by cryptography.
A defining feature of cryptocurrencies is that they are generally not issued by any central authority, rendering them theoretically immune to government interference or manipulation.
The first and most popular Cryptocurrency is BITCOIN, which is worth 49,500$ per Bitcoin (Price in 09 December 2021)
What Makes Cryptocurrency Valuable?
It’s widely used by the communities and the communities keep growing years over years. Think of them as Gold. Everyone agreed gold is “Valuable” and has been accepted as a payment method since ancient times
Bitcoin just getting started. From time to time, more people start accepting Bitcoin as a payment method, especially a business which are criminalized by banks or categorized as illegal by authority
Do You Think Bitcoin or Other Cryptocurrency will Still Valuable In the Future?
Yes, as long as an illegal business -based on government law- or gray business can’t access the proper payment method, they will always look for an alternative payment method
As long as there is supply-demand, their buyers will follow their payment method procedure. If you wander on the internet, you’ll see most kratom vendors accept Bitcoin / Cryptocurrency
Yes some of them have access to credit card payment, but I am 1000% sure they are forced to use it. There are many requirements to set up credit card payment for kratom industries, such as Funds on hold for 90 days to prevent chargeback, chargeback minimal (if it’s above average, they will close their services), most importantly, it can’t be accessed by vendors outside the U.S
How many cryptocurrencies are there? What are they worth?
According to CoinMarketCap.com, a market research website, Nearly 15,000 different cryptocurrencies exist. If you are a beginner in cryptocurrency, we strongly advise following our guide, not every coin is valuable, most of them are worthless
Important Knowledge
Keypoint in cryptocurrency. By understanding the advantages and risks, we want to ensure you didn’t lose your hard work money and avoid problems with the local authority
Cryptocurrency Values
Just like gold, cryptocurrency’s values are changing from time to time, the difference is, cryptocurrencies’ values are more volatile than gold. In order to solve this problem, crypto industries create a stable coin backed with real currency, such as Euro, USD, and much more
Here is a comparison of the cryptocurrencies. We only listed cryptocurrency we recommended to buy
Volatile Coin (Irreplaceable)
The price of the coin below is very volatile. The good thing about this coin is, it will always valuable. No matter how many new coins are born every day, they will never replace Bitcoin and Ethereum. Think of them as US Dollars and Euro
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Bitcoin (BTC) Father of cryptocurrency. Bitcoin use BTC Network. Network fees is little bit expensive -
Ethereum (ETH) Mother of cryptocurrency. Ethereum use ERC20 Network. Network fees is expensive, depend on current price of Ethereum
Volatile Coin (Replaceable)
These coins below are not primary coins in the cryptocurrency world. We list this coin because our site accepts it. We mark it as “Replaceable” because we think, these coins might be replaceable with other coins with better technology in the future
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Litecoin (LTC) Litecoin use LTC network. Network fees is cheap, good for transactional purpose -
Bitcoin Cash (BCH) Bitcoin cash has its own network. Network fees are cheap, good for transactional purpose -
Monero (XMR) Monero has it's own network. Network fees are cheap, good for transactional purpose. VERY PRIVATE
Stable Coin
The values are stable because these coins backed with real currencies
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USD Tether (USDT) USD issued by Tether. It's available in 3 network : ERC20 , TRC20, and BEP20 network -
USD Coin (USDC) USD issued by Coinbase. If you are using Coinbase app, then they only use the ERC20 network for their USDC -
Binance USD (BUSD) USD issued by Binance. It's available in 3 network : ERC20, TRC20, and BEP20 network
Cryptocurrencies Network
Understanding cryptocurrencies network is very important, network affect your privacy, transaction speed, and transaction fees. When you send Crypto, you need to ensure you are in the same network as the recipient
There are many networks in cryptocurrency, I will only write the most used network in the crypto world. Here we go
This network was made by Ethereum. Most cryptocurrencies are using this network. The worst thing about the ERC20 network is, their transaction fees are very expensive
Name : ERC20
Transaction Speed : Fast
Transaction Fees : Very Expensive
Privacy : Secure
This network was made by Tron. It become popular due to very cheap transaction fees. Most cryptocurrencies are bridging their network from ERC20 to TRC20, so they are available in both network
Name : TRC20
Transaction Speed : Very Fast
Transaction Fees : Very Cheap
Privacy : Not Secure (It’s owned by Tron Foundation, not fully decentralized)
This network was made by Binance. Binance thinks that TRC20 are not enough for them, so they made their own network, it’s called BEP20 / BSC / Binance Smart Chain
Transaction fees is very cheap and fast. However, not every exchange supporting sending cryptocurrencies to this network
Name : BEP20 / BSC (Binance Smart Chain)
Transaction Speed : Very Fast
Transaction Fees : Very Cheap
Privacy : Not Secure (It’s owned by Binance, not fully decentralized)
If you really care about privacy, we strongly advise using a cryptocurrency that has its own network and taking privacy seriously -you know what i mean-
Please use Monero (XMR) or ZCASH (ZEC)
Both coin has it’s own network and very cheap transaction fees
Read This Before Send Payment
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Transaction are irreversible You need to make sure that you are dealing with a trusted seller
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Ensure you are on the same network If your receiver wallet address are using TRC20, you need to set your network destination to "TRC20"
How to Buy Cryptocurrencies
This is the challenging part, get ready for the journey to your first cryptocurrency and welcome to the future
Convert your Fiat
Choose the cryptocurrency you want to buy, like Bitcoin, Ethereum, USDT, etc
and then choose your funds sources (Credit card, Bank Account, etc)
OR
You can deposit your fiat first and then buy coins you want
Send Crypto
Once your fiat converted into Crypto, you are ready to send crypto anywhere, anytime
You only need receiver wallet address to send the money
Please click here for How to pay using cryptocurrency
There are many services you can use to buy, sell, and send cryptocurrencies. Each service has its pros and cons, here is what we’ve summarized for you
Binance is the world’s largest cryptocurrency exchange company in terms of the daily trading volume of cryptocurrencies
Why Use Binance?
Binance offers a huge selection of cryptocurrencies and they have network selection options. It’s mean we can avoid ERC20 Network, greatly reduce transaction fees
Binance offers stable coins called “BUSD” and “USDT”
Both stable coins run in multiple networks (ERC20 – BEP20 – TRC20)
Service Restriction
Binance services are available worldwide.
If your government ban Binance, you can use VPN to access it
Coinbase is an app that lets you buy and sell all sorts of cryptocurrencies, like bitcoin, Ethereum, Litecoin, and about 50 others. You can also use Coinbase to convert one cryptocurrency to another or to send and receive cryptocurrency to and from other people
Why Use Coinbase?
The app is simple and easy to use. The only disadvantage of Coinbase is: They didn’t let you send coins to various network
Here’s an example: You buy USDT coins on Coinbase, USDT mainly runs on the ERC20 network, if you send USDT from the Coinbase app, you can only send this USDT to an ERC20 wallet. As we said earlier, the transaction fees of the ERC20 network are very expensive
Coinbase offers a stable coins called “USDC” and runs in ERC20 Network
If you love Coinbase but want to avoid the ERC20 network, you can buy coins that have their own networks, such as LTC and BCH
Services Restriction
As we know, they serve worldwide, including all states in the United States, with some notes
How to Send Cryptocurrencies
Learn how to pay using cryptocurrency. This knowledge can be applied in all stores as long as they accept cryptocurrency
To make things easier, we put a picture in the step below
Choose Items
Choose the items you want, add them to the cart, and go to checkout pages
Choose Crypto Payment
We have 2 options for cryptocurrencies payment
Digital Currencies : for payment using BTC, ETH, LTC, BCH, XMR, USDT ERC20 , and USDC ERC20
USDT TRC20 : USDT coins using TRC20 Network
Send Crypto
After placing order, you’ll be directed to payment pages. You’ll see our wallet address and the amount you need to send
Copy our address then open your Coinbase / Binance / Wallet app, paste our address, fill the amount, and done
Or you can simply scan the barcode
How to Receive Cryptocurrencies
Start applying your new knowledge in real life, like paying a bill, sending a gift to friends, or receiving a payment