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[Tutorial] [ GUIDE ] -------- Everything Related To Crypto Currency - Printable Version

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[ GUIDE ] -------- Everything Related To Crypto Currency - J. McCarthy - Jan 9, 2017

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[Image: sticky-bro.png][Image: sticky-bro.png]New Tutorials Monthly! [Image: sticky-bro.png][Image: sticky-bro.png]







Formula1's
Crypto Currency Guide

  • Introduction
    • What Are Cryptos?
    • What Are AltCoins?

  • Popular Coins
    • Bitcoin
    • Monero
    • Ethereum
    • Litecoin
    • Ripple
    • 5 Others

  • Wallets
    • Online Wallets
      • BlockChain
      • BitGo
      • Coinb
    • Desktop Wallets
      • Core Wallets
      • Multibit
      • Jaxx
      • Electrum
    • Mobile Wallets
      • Jaxx
      • BlockChain
    • Cold Storage

  • Exchanges
    • Coinbase
    • Poloniex
    • Cex
    • xCoins
    • ShapeShift
    • HackForums

  • Mining
    • Cloud Mining
      • Hosted Mining
      • Virtual Hosted Mining
      • Leased Hashing Power
    • Hardware
    • Botnet

  • Investment Trading
    • Day Trading
    • Pump & Dump
    • Mining
    • Crowd Sales

  • Gambling
    • Casinos
    • Games
      • Bustabit
      • SatoshiMines
    • SportsBetting

  • Faucets
    • BTC Faucet List

  • FAQ




* - J. McCarthy - Jan 9, 2017

Introduction


What Are Crypto Currencies?

A crypto currency is the “new” money. In an ever-expanding digital era, the existing solutions for online payments were not enough for many people. Therefore, a more secure, anonymous, decentralized, and irreversible solution was created. The first of many to come Bitcoin soon became a sensation after starting at a value of less than $1 a coin has recently traded for more than $1,000 per coin. Check out this fun explanatory video below.


What are altcoins?


Essentially an alternative coin or altcoin for short is any coin besides the original, Bitcoin. Anyone can develop an altcoin and hundreds of them have been created, though not all have succeeded.



Popular Coins


Here’s the current Top 5 listing for today’s cryptocurrencies.

Bitcoin (BTC)

The original crypto currency, Bitcoin currently has the highest trading value of any coin.
First Introduced: 31 October 2008
View the original Bitcoin Website Here
View an Informative Bitcoin Site Here
Click Here for Current Bitcoin Market Charts & Pricing

Monero (XMR)

Monero is a new found in popularity crypto currency. Unlike the popular belief that Bitcoin is completely anonymous, which it’s not, Monero’s primary focus is privacy and security.
First Introduced: 18 April 2014
View the original Monero Website Here
View an Informative Monero Website Here
Click Here for Current Monero Market Charts & Pricing

Ethereum (ETH)

Ethereum is also a new and more technologically advanced version of crypto currency. It provides a decentralized virtual machine, the Ethereum Virtual Machine (EVM), that can execute peer-to-peer contracts using a token called ether.
First Introduced: 30 July 2015
View the original Ethereum Website Here
View an Informative Ethereum Website Here
Click Here for Current Ethereum Market Charts & Pricing

Litecoin (LTC)

Litecoin is essentially a bitcoin “replica” based on a silver rather than gold standard.
First Introduced: 7 October 2011
View the original Litecoin Website Here
View an Informative Litecoin Website Here
Click Here for Current Litecoin Market Charts & Pricing

Ripple (XRP)

Ripple is based on transaction protocols.
First Introduced: 2012
View the original Ripple Website Here
View an Informative Ripple Website Here
Click Here for Current Ripple Market Charts & Pricing

5 Other Popular Alt Coins

-Dogecoin
-Dash
-MaidSafeCoin
-Lisk
-StorjCoin

* - J. McCarthy - Jan 9, 2017

Wallets


A cryptocurrency wallet is just a digital representation of the physical item we all use now. Different wallets are required for different types of crypto currencies and can be utilized in multiple different forms. The most popular of these include: Desktop, Online, Mobile, and Cold Storage. Each will be explained in more detail below with multiple options for each. Please take the time to watch the short explanatory video below.


Online Wallets


An online wallet is simply a wallet which can be accessed from an online website. This type of wallet is the most convenient and accessible from almost anywhere, However, it’s also the least secure type of wallet. Below are a few of the most popular Online wallets.

Blockchain

BlockChain.info

Blockchain is a Bitcoin wallet which can be accessed via Desktop, iOS, and Android apps on any device, anytime, anywhere. The systematic Security Center helps you backup your funds, and protect them from unauthorized access. They’re are not a bank. Cannot view your balance, see your transactions
or make payments on your behalf. You retain complete ownership of your money.

BitGo

BitGo.com

Get instant alerts for every transaction, track audit logs, and get detailed reports for your bitcoin holdings. All their wallets use industry standards of multi-sig (P2SH) for security and HD (BIP32) for financial privacy.

Coinb

CoinB.in

Coinbin is an open source web based wallet written in JavaScript and released under the MIT license which means it's free to use and edit. They support regular addresses as well as multisig and stealth, with access to your own private keys!


Desktop Wallets


A Desktop is a more secure form of cryptocurrency wallet; however, this type of wallet is not as easily accessible from a website as the online wallets are. This type of wallet is downloaded to your computer and must be opened as an application for each use.

Core Wallets

A core wallet is just the original wallet that was created for a cryptocurrency. For example, Bitcoin’s original wallet can be found on their website and was created by the original developers.
Bitcoin Core
Ethereum Core
Monero Core

Multibit

MultiBit.org

MultiBit makes setting up your bitcoin wallet fast and easy. After installation, a wizard guides you through the process of creating your wallet and its backup. In no time at all you will be ready to participate in the Bitcoin economy. You control your wallet and your funds: they reside encrypted on your computer and never with a 3rd party.

Jaxx

Jaxx.io

Jaxx supports many of the leading cryptocurrency platforms. It’s their goal to offer as much choice as possible in the new, emerging world of blockchain. All keys are created on your local device and never sent to any servers. This means you have full control of your wallet and Jaxx neither holds nor has access to your funds.

Electrum

Electrum.org

Electrum is fast, because it uses servers that index the Bitcoin blockchain. Split the permission to spend your coins between several wallets. You can export your private keys and use them in other Bitcoin clients.

Mobile Wallets

A mobile wallet is the same as a desktop wallet except it’s downloaded and used on your mobile device rather than a computer. These are also more secure than an Online wallet and possibly more accessible than a Desktop wallet due to our constant usage of mobile devices.

Jaxx

Jaxx.io

Jaxx supports many of the leading cryptocurrency platforms. It’s their goal to offer as much choice as possible in the new, emerging world of blockchain. All keys are created on your local device and never sent to any servers. This means you have full control of your wallet and Jaxx neither holds nor has access to your funds.

BlockChain

BlockChain.info

BlockChain is a Bitcoin wallet which can be accessed via Desktop, iOS, and Android apps on any device, anytime, anywhere. The step-by-step Security Center helps you backup your funds, and protect them from unauthorized access. They’re are not a bank. Cannot view your balance, see your transactions
or make payments on your behalf. You retain complete ownership of your money.


Cold Storage


The following passage is from WeUseCoins.com
Bitcoin cold storage is achieved when Bitcoin private keys are created and stored in a secure offline environment. Cold storage is important for anyone with bitcoin holdings. Online computers are vulnerable to hackers and should not be used to store a significant number of bitcoins.

There are three ways to create secure Bitcoin cold storage: paper wallets, hardware wallets, and offline computers using software wallets.
Paper wallets were the most popular form of cold storage before hardware wallets and offline software wallets hit the market.

Creating a 100% secure paper wallet requires some technical knowledge, an offline computer or bootable operating system, a USB flash drive, a printer, and some patience.

For more information Please Click Here

* - J. McCarthy - Jan 9, 2017

Crypto Exchanges


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Coinbase is currently one of the most popular exchanges. It allows you to purchase Bitcoin using either a bank account (short delay) or Credit/Debit Cards instantly. You can also Sell bitcoin and withdraw to your Bank using this service.
To view the full payment/payout list using Coinbase Click Here
To View Coinbase Limitations Click Here

Coinbase also opened its own exchange used for trading cryptocurrencies on the fly. Like a stock market exchange. It’s named gdax and can be found at Gdax.com


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Poloniex is perhaps the most popular exchange for Bitcoin, Ethereum, and Monero trading purposes. Poloniex features the typical exchange, a margin trading tab, and a lending tab allowing you to make loans.

To view fees associated with Poloniex Click Here


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Cex.io like Coinbase is an all in one stop shop which offers the ability to buy/sell Bitcoin & Ethereum using bank or credit card payments. It also features an integrated exchange with Margin Trading. One popular feature on this site is the Affiliate Feature which pays 30% of the site fees to any referral!
To learn more about the Affiliate System Click Here
To learn more about payment options and limitations Click Here



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xCoins.io is a popular platform most commonly used to sell Bitcoin on. This system works as a “secured lender” compared to the traditional exchange. The site descriptions provides the following information: Secured lending is just like exchanging, only better. It allows you to get bitcoin quickly. Most bitcoin exchanges do not allow payments with credit cards or make you wait several days before receiving bitcoin. In contrast, xCoins is instant! The entire process takes only a few minutes.
To Learn More about How This Works Click Here
To Purchase Bitcoin Using PayPal & CC Click Here



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ShapeShift.io is established as one of the most popular ways to quickly exchange between cryptocurrencies. The site offers a very large number of currencies and exchange options that are labeled as “Quick” or “Precise”.
To View the Full List of Accepted Coins, Click Here


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You can also choose to use our onsite exchange, though you must be an upgraded member. All dealings are at your own risk as they are done individually between members. This is a popular option for many users because essentially any type of currency can be exchanged.
To View Our Currency Exchange Section, Click Here
To View a Guide on Safe Trading Click Here

* - J. McCarthy - Jan 9, 2017

Mining




Cloud Mining

Cloud Mining is used as a “Virtual” form of mining. It’s most useful for people whom do not have equipment and cannot afford to purchase any effective equipment. There’s no added electricity costs to your home or difficulties with space. You also do not need to be technically advanced to utilize the benefits of cloud mining which is a plus for many users. However, cloud mining comes with multiple risks such as potential fraud by scammers, lower profits, lack of control, and non-transparent mining operations.
There’s three popular types of cloud mining
  • Hosted Mining
    • Leasing a machine which is hosted by a provider.
  • Virtual Hosted Mining
    • Creating a VPS and installing mining Software.
  • Leased Hashing Power
    • Leasing a specific amount of hashing power without having a VPS or physical computer. (Most popular form)

To View the Top Cloud Mining Services & Reviews Click Here


Hardware

By hardware mining I simply mean to say you’ll be using your own systems, hardware, and electricity to do the mining. This is the most expensive form of mining but it’s also the safest and potentially one of the most profitable forms. Currently ASIC mining cards are the most effective form of equipment.

To Learn More About Mining Hardware Pricing & Comparison Click Here
To Learn More About Scrypt Mining Click Here


BotNet

BotNet Mining is a form of illegal mining. To utilize Botnet mining the miner would need to establish a Botnet of hacked computers. Then with tens or hundreds of thousands of users the Hacker can setup mining software on the victim’s computer. Although this is illegal it can be one of the most profitable forms of mining.

* - J. McCarthy - Jan 9, 2017

Investment Trading


As of recent Crypto Currencies have been used for a variety of reasons. Many people don’t actually use the “currencies” as a currency. Rather, they use them as an investment opportunity in trading. So, what is Crypto Currency Trading?



The most Popular forms of Monetizing from Crypto Currencies Are:
  1. Day Trading
  2. Pump & Dump
  3. Mining
  4. Crowd Sales

Click Here to Read a Good Tutorial on All 4 Types




Gambling


One of the most popular uses for crypto currency, Bitcoin specifically, on HackForums is the online gambling potential. Although it is asked you don’t use this section for any gambling information but rather please post in the JackPot Warriors Section.

A few of the most popular forms of crypto gambling currently are
  • Casino Websites
  • Online Games
    • Two of the Most Popular Games Are
    • Bustabit
    • SatoshiMines
  • Sports Betting


* - J. McCarthy - Jan 9, 2017

Faucets


A Crypto faucet is a reward system, in the form of a website or app, that dispenses rewards in the form of a satoshi, which is a hundredth of a millionth BTC, for visitors to claim in exchange for completing a captcha or task as described by the website. Source


Bitcoin Faucet List:


CetoBeto

ClaimBTC

Getbitcoin

WorldOfBitcoin

BonusBitcoin

TakeFreeBitcoin

Elenafaucet

ArtBitcoin

BusBitcoin

FreeBetcoin

WeLoveBitcoin

Play Bitcoin

WaterBitcoin

EasyBitcoinFaucet

BombCatch

BagBitcoin

xBit

LuckyBit

Bitaler

* - J. McCarthy - Jan 9, 2017

FAQ

  • Can I mine using my NVidia Graphics Card?
    • Yes, However it’s not as effective as the AMD card. You can Find a tutorial on mining with NVidia Here

  • How Many Hashes Per Second Can I get with My Card?
    • To find the Hash Rate for your card or of one before you purchase click Here


  • What is a Silent Miner?
    • These have died out a lot now since a few years back however in the HF market it essentially is a miner which runs “silently” on someone else’s computer.

  • Can I mine using my Laptop?
    • It’s possible to setup a miner, however, it’s essentially useless. Not suggested.

  • Can I mine using my VPS or RDP?
    • If they do not have a graphics card then no it’s not worth it. Mining with a CPU is outdated.

  • Is Mining Profitable?
    • Yes, it can be profitable for people, however for many it’s not.

  • What’s the current difficulty of Bitcoin?
    • To find information such as difficulty, network hash rate, etc. then please Click Here

  • Where can I check current prices?
    • Every exchange will display its own pricing information. One popular source for prices is Preev.

  • What is a private key?
    • A private key in the context of Bitcoin is a secret number that allows bitcoins to be spent. Every Bitcoin wallet contains one or more private keys, which are saved in the wallet file. The private keys are mathematically related to all Bitcoin addresses generated for the wallet. Source

  • Is Cryptocurrency Legal?
    • Well, it depends on your country. In almost every country the usage of Crypto Currency is legal, however there may be different stipulations on the legality and usage of it. To View Legality by Country, Click Here

  • Do I have to pay tax on Crypto Currencies?
    • Again, it will depend on the country. In the United States, the IRS requires you to pay tax on gains from Bitcoin or other crypto currencies.

  • What is a confirmation?
    • A confirmation is given when a new block verifies a transaction. For more information Click Here

  • Why is Ethereum different than Bitcoin or other Alt Coins?
    • Ether is different because unlike a typical crypto currency ether is based on something called “Smart Contracts” and acts as a type of vps. For more information Click Here

  • Is Bitcoin or any other Crypto Currency reversible?
    • No, they are irreversible. However, if an online wallet can control your money such as CoinBase they may be able to hold or reverse your spending. Therefore, it’s not recommended to hold bitcoin on Coinbase.


Credits


I would like to thank a few people for assistance on this Thread
Fade for Exchange Information
Kill Joy For Exchange Information
RastaX For Place Holders
Boing for some of the FAQ
Valor for giving me the idea to make this

* - Rasta - Jan 9, 2017

Wow, now that's what I call a real and HQ clueless -> advanced when it comes to cryptocurrencies!
As always, only the best by F1.

* - Gizmo - Jan 9, 2017

This is an awesome thread which will be really helpful for me!

Thank you very much for the high quality thread. Keep up the good work! 👍

* - Marcobenevento - Jan 9, 2017

thank you really good guide :==

* - J. McCarthy - Jan 9, 2017

(Jan 9, 2017 02:50 PM)Marcobenevento Wrote:  thank you really good guide :==

Thanks thought of some new ideas for an update

* - Kill Joy - Jan 9, 2017

Please remove freewallet for Monero. It is not open source and is kinda sketchy. I'll post some news when jaxx releases their version.

* - J. McCarthy - Jan 9, 2017

(Jan 9, 2017 06:12 PM)Kill Joy Wrote:  Please remove freewallet for Monero. It is not open source and is kinda sketchy. I'll post some news when jaxx releases their version.

Valid Point
Updated OP & Removed the MoneroWallet

Lmk if you have an update on that in the future 🤝

* - Rasta - Jan 10, 2017

Bringing this back to the top for all the starters in this area!