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Published:
March 28, 2023

Cryptocurrency Investing For Dummies

Overview

From Bitcoin to Solana, the safe and secure way to invest in cryptocurrencies

Cryptocurrency Investing For Dummies, the bestselling guide to getting into the exciting world of crypto, is updated for today’s cryptocurrency markets. Currencies like Bitcoin, Ethereum, Solana, and XRP are gaining popularity, and this trusted guide can help you strike while the iron is hot to profit from the explosive growth in cryptocurrency. We’ll help you understand decentralized currency, get started with leading crypto exchanges and brokers, learn techniques to buy and sell, and strategize your crypto portfolio. You’ll even dig into the details on cryptocurrency tax laws and new opportunities for investors.

  • Gain the tools you need to succeed in the cryptocurrency market
  • Learn about the newest cryptocurrencies on the market and how to evaluate them
  • Develop a strategy for reaping outsized gains using crypto exchanges
  • Understand how cryptocurrencies interact with virtual worlds

This is the perfect Dummies guide for investors who are new to the cryptocurrency market or first-time investors who want to add cryptocurrency to their portfolio. Get started on your crypto adventure.

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About The Author

Kiana Danial is an award-winning, internationally recognized personal investing and wealth management expert. She is a highly sought-after professional speaker, author, and executive coach. She has been featured in The Wall Street Journal, TIME magazine, CNN, Forbes, TheStreet, and numerous other publications.

Sample Chapters

cryptocurrency investing for dummies

CHEAT SHEET

So, you’ve heard about Bitcoin and other cryptocurrencies, and you’re ready to add these new kids on the block to your investment portfolio — that’s great!To make the best decisions for your portfolio, educate yourself on the basics of cryptocurrencies and what you need to get started. Also, be sure to do your homework on a crypto’s fundamentals before adding any new assets to your portfolio.

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Articles from
the book

Though it may be scary, it's a time-proven truth in investing: To earn more return, you must take more risk. When aiming to make money in the short term, you must be prepared to lose your investment (and maybe even more!) in that time frame as well, especially in a volatile market like cryptocurrencies.Another term for short-term trading is aggressive trading.
When it comes to adding cryptocurrencies to your portfolio, keep the following two types of long-term diversification in mind: Diversifying with non-cryptocurrencies Diversifying among cryptocurrencies For more information on many of these topics, check out these Invest Diva resources: The Forex Coffee Break education course Other service listings Diversifying with non-cryptocurrencies You have so many financial instruments to choose from when you consider diversifying your portfolio across the board.
What you get from a cryptocurrency fork won’t fill your tummy, but it may fill your crypto wallet with some money! Many popular new cryptocurrencies were born as a result of a split (fork) in another cryptocurrency like Bitcoin. The following discussion explains the basics of these cryptocurrency splits and how you may be able to profit from them.
So, you’ve heard about Bitcoin and other cryptocurrencies, and you’re ready to add these new kids on the block to your investment portfolio — that’s great!To make the best decisions for your portfolio, educate yourself on the basics of cryptocurrencies and what you need to get started. Also, be sure to do your homework on a crypto’s fundamentals before adding any new assets to your portfolio.
When most people think about mining, they typically envision tunnels, headlamps, and axes. But in the world of Bitcoin and other cryptocurrencies, mining is a computerized method for verifying the legitimacy of cryptocurrency transactions and entering new cryptocurrencies into circulation.Bitcoin and other minable cryptocurrencies rely on miners to maintain their network.
You can’t become a successful short-term trader just by reading the news. Short-term trading is an art that combines active risk management with a great understanding of crowd psychology and price actions. Also, the cryptocurrency market isn’t as established as other markets, so trading the lesser-known cryptos on a short-term basis can be even riskier.
Simply stated, a cryptocurrency is a form of digital money. You can transfer your traditional, non-cryptocurrency money like the U.S. dollar digitally, but that’s not quite the same as how cryptocurrencies work. If cryptocurrencies become mainstream, you may be able to use them to pay for stuff electronically, just like you do with traditional currencies.
Simply put, a blockchain is a special kind of database. According to cigionline.org, the term blockchain refers to the whole network of distributed ledger technologies. According to Oxford Dictionaries, a ledger is “a book or other collection of financial accounts of a particular type.” It can be a computer file that records transactions.
Before getting started with mining cryptocurrency, you should set yourself up with a few mining toys. When you’ve got everything up and running, mining becomes rather easy because everything happens automatically. The only thing left to do is pay your electric bills at the end of each month.First things first — here’s a brief to-do list to get you started: Get a crypto wallet.
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Frequently Asked Questions

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