Beginners Guide to Cryptocurrency

As a beginner, you should start of by purchasing Bitcoin or Ethereum. These are the main currencies that are traded for other cryptocurrencies. The most efficient method of purchasing is by using Coinbase.

 

Signing Up

Upon signing up, you will be taken through an identification verification process. Therefore, ensure you have your photographic identification on hand as well as your credit or debit card.

 

 

Buying

 

Now that you have completed the verification, go ahead and click buy/sell. As a beginner, it is best to start off by purchasing Ethereum. Click on Ethereum and decide how much you would like to purchase. Here you can buy 0.1 or 0.5 or more, once you have finished buying, you should  see ETH in your Coinbase account.

 

 

Trading Setup

 

This is a very simple explanation of cryptocurrency trading, but now let’s get started on trading the base currency for other currencies. Before you can trade, you need to sign up with an exchange. Binance is good to start with but they do have limitations on how many people can sign up on any given day. As an alternative, you can try KUCOIN.

 

Go through the signup process and hit the link that says ‘funds.’ Once you have clicked that, go on to click deposits/withdrawals. Look for Ethereum and hit deposit. They will then provide you with a wallet address, then copy ‘ETH DEPOSIT ADDRESS.’

 

-Go back to Coinbase and click accounts

-Hit ETH Wallet

-Click send

-Input the wallet address from Binance into the section that says recipient

-Hit ‘Send Max’ and click continue, here it should prompt you to provide a 2 step verification code.

 

Now we can trade your base currency for other cryptocurrencies.

 

Trading For Other Cryptocurrencies

 

The Ethereum transfer should take around 30 minutes to process. Once the transfer has arrived, it should show up when you hit the funds button.

 

Here we are going to trade the ethereum or ETH for IOTA. Go ahead and hit exchange followed by basic. Then choose ETH and search for IOTA, decide how much you want to buy. If you wish to just use all the ETH you purchased, select 100 percent.

 

How Much Should You Invest?

There is no recommended amount, it solely depends on how much you have got to spend. You can start with 100 or 250 or more. Just like any investment, you are taking a risk and the more you invest the more risk, but if your investment pays off, you will obviously reap bigger rewards if you invest a larger amount, but it is entirely up to you how much you want to outlay.

 

 

Tracking

This is a common question, how to track your investments. An efficient way to do this is by downloading tracker apps. Blockfolio is a good choice, as well as Delta. Download the apps from the Appstore or Google Play store if you are on Android. Both allow you to input the price you bought the coins for. The apps will provide you with an accurate calculation of the price in your local currency.

 

This is a very basic simplistic guide on how to start buying and selling cryptocurrency. However, if you would like to learn more, there are plenty of books and tutorials available on the subject.

Blockchain and the Shipping Industry

 

Over the course of the previous century, major advancements in technology have completely revolutionize commerce on global level. Almost every sector of industry has been affected by these changes, however, this has been especially true for the shipping industry, which has seen entire ports automate with the use of robotics, as well as allowing companies to built bigger ships that are able to transport goods from one side of the world to the other faster than ever before.

Still, although things are changing at a rapid pace, almost every company operating in the shipping industry still relies on traditional paper documents for their administrative purposes.

Now, two global giants, IBM and A.P. Moller–Maersk are looking to collaborate and bring a revolutionary change to the shipping industry. That’s right. The two companies are looking to implement blockchain solutions into the industry with the end goal of optimizing the fluidity of transactions between companies.

A massive undertaking, to say the least. However, if they are successful in their endeavor, this could completely change the maritime industry, as well as significantly reducing the high cost of administration faced by most shipping companies.

 

The High Cost of Using Paper Documents

According to a representative for Maersk, Vincent Clerc. Sending a single refrigerated shipment from Europe to East Africa involves over 200 communications and will typically pass through the hands of about 30 different shipping organizations before reaching its destination. And of course, this massive amount of coordination comes with an extremely high cost.

In fact, due to the amount of paper communications involved, the administration and documentation costs can represent up to 1/5 of the total cost of shipping a single container.

However, by implementing blockchain technology, companies would be able to streamline this chain of communication and make all their documentation available through a distributed registry. In turn, this would also increase the speed of the shipping process and it’s estimated that it could save the industry several billion dollars per year.

 

The Blockchain Solution

The blockchain is designed to be a secured distributed registry where all stakeholders have access to the same information.

Aside from being applicable to the maritime industry, blockchain technology could also be adapted to be used in other sectors. By using this type of technology, companies would easily be able to speed up their documentation process and reduce the amount of data entry needed by up to 80%.

Also, applying a blockchain solution could simplify custom checks and data exchanges while a container is on route, which would considerable reduce the risk of fines while shipping across international borders.

For their project to be a success, IBM and Maersk must first convince all those who would be involved that it is a viable solution. This includes customs officials, port authorities, as well as the shipping companies and a unanimous decision must first be made for the implementation to work.

How Bitcoin Can Help You Take Control of Your Wealth

Behind the development of cryptocurrencies was the fact that people wanted to have more control over their hard-earned money. As it stands, the current situation couldn’t be any worse. And, governments and financial institutions are able use taxpayer money however they feel necessary and in the event of economic collapse, they can use this money to bail them out from their problems. Furthermore, this is exactly what happened during the US recession back in 2008, when the financial sector had to be bailed out by the Bush administration.

 

Government Bail Outs

By the end of 2007, most US banks were on the verge of filing bankruptcy. To resolve the situation, the Bush administration bailed them out by handing out money and loans that came directly from the pockets of taxpayers.

Nearly $800 billion US dollars were handed over to these financial institutions and a staggering $2.2 trillion dollar were passed out in the form of government loans. This situation combined with other economic factors were the inciting force behind protests such as the Occupy Wall Street movement.

And, this has not just been the case in the US. In the past, governments have always bailed out financial institutions that have been on the verge of bankruptcy. While this would be a good thing if the recipients of the bail-outs were companies that belong to the manufacturing industry, however, when a financial institution is bailed out, it’s almost always to protect and save people who already have deeper pockets than most of the population.

 

Bad Financial Habits

Many economic experts believe that these types of bail-outs are setting an affair precedent for financial institutions as it encourages them to take bigger risks to increase their profitability, while putting massive amounts of public capital in peril. This is true because most banks and financial institutions are connected in some ways to governments and they know that in the event of a loss, the money could simply be recovered from taxpayer money.

With problems such as these running rampant in our economic world, it’s no wonder that people are looking to alternatives to take control over their own wealth. However, it’s very difficult to stop big banks and governments from playing with taxpayer money.

 

The Ultimate Solution

One of the only solution to this economic problem is to create a completely independent financial system, where individual have complete control over their own money. Bitcoin and blockchain technology represents this exact solution since blockchain networks are completely decentralized from governments and banks, which allow you to make the decisions over how you spend your hard-earned cash.