Crypto

What Is Cryptocurrency?

Cryptocurrency(Crypto) is a form of digital currency that can be used to make payments online. Bitcoin is known as the king of cryptocurrencies and is currently trading at $11,867 per coin. Other cryptocurrencies include Litecoin($90.24), Ethereum($225.34), Dogecoin($0.0029), etc

Crypto coins are secured by an encryption method that's known as cryptography. This method of encryption makes it nearly impossible to counterfeit or double-spend these digital coins.

How Does Crypto Work? —

Cryptocurrencies like Bitcoin are decentralized networks; meaning, they are not owned by any central authority or company. Their strength comes from having what's called a blockchain(distributed ledger).

Blockchain is basically a database of all the transactions within the network. Blocks on the blockchain take every details of of the currencies history. As new transactions happen, it has to be added to blocks and added to the chain.

Every block is locked with a puzzle which the miners need to solve.

Bitcoin miners try to guess the answer to the puzzles of these blocks. Luck depends on the processing power of the miners computers. (more computing power = more guesses per second).

A new block can be created only if the puzzle of the previous block is solved(or guessed) by miners. Every new block contains roughly 2,500 transactions and has the solution to the previous block.

The block that the miner created, along with the solution, is sent to the whole network so that other computers(miners) can validate it.

Each computer that validates the answer to the puzzle, includes details of these 2,500 transactions within a copy of its ledger.

The miner that compiled the block is rewarded with a fixed amount of newly created Bitcoins(12.5 BTC currently), plus transaction fees of all the transactions that were attached to it.

How To Use Cryptocurrency? (send/receive)

A Bitcoin account is secured using two sets of keys;

Public Key — This is the address to which Bitcoins are sent. This address should be given to the sender.
Private Key — This address should be kept secret. The sender

When you create a new Bitcoin account, your wallet service generates a new private key and assigns a public address to your account.

Both these keys are saved within your device, but we recommend you to write your private key on a piece of paper or etch it on a piece of metal.

Here's an example of a private key for a Bitcoin account.

xxxxxxxxxxxxxxxxxxxxx

How To Get Cryptocurrency?

Mining (cloud+real
Trading
Accept Crypto Payments (In exchange of goods or services)
Collect Free Crypto From Faucets/Game Sites

You can also exchange your cryptocurrency to real money and transfer the amount to your bank.

Crypto can be compared to traditional stocks, but is more volatile.

Cryptocurrency can easily be exchanged to real money using Wirex!

Wirex also allows you to hold a traditional bank account alongside your crypto assets.

Can I own a Bitcoin or any other currency?

Ofcourse you can. Goto CoinBase.com to buy cryptocurrency using your debit card.

What if I dont want to BUY my Crypto?

Well, then just earn it!

Just like any other traditional currencies, you can exchange your time/products for cryptocurrency. Most freelance programmers/developers/IT professionals choose to get paid in crypto.

If you’re not an IT professional, don’t worry. You can still claim FREE crypto from faucets!

What are Faucets?

Faucets are websites which offer free cryptocurrency in return they show you some ads. Rewards are usually small and range from $0.001 - $1 per claim. Claims can be done manually or by using a special software.

How much can I make from Faucets?

The main question I get is how much can you make? It’s a fair question. People want to know how much they can make before investing the time. I understand.

The answer is: it depends. There’s a wide range. Based on my model you can make as little as $900 or as much as $2 million in 1 year. It depends on a variety of factors including: the original claim amount, the number of times you claim a day, the number of referrals you have, the number of times your referrals claim a day, loyalty days and a number of other factors, not to mention the price of crypto.

If you’re just mailing it in with 1 claim a day for the rest of the year and have no referrals, you can make $900, providing prices remain the same.

If you make 24–48 claims per day with 100 referrals doing the same thing, you can make $10K, providing prices remain the same.

If you make max claims per day (58–288) with 500 referrals doing the same thing, you can make $70K, providing prices remain the same.

How to get started?

So now that you see the potential, these are the steps to sign up and get started:

This is where each faucet will send your “claim”. When you reach your withdrawal minimum, you will want to move your crypto currency from your software wallet (CoinPot) to another wallet.

Connect the Faucets to your account

Each one of these faucet is connected to your Coinpot MicroWallet. As long as you sign up with the same email address you used to sign up for your Coinpot, they are automatically connected. Play around with each faucet a bit to get a feel for how this works. Please use my referral codes to sign up for the faucet.

Best Faucets:

Connect The Faucet Collector Bot

This amazing piece of software helps you to automate your faucet claims. This means that the bot will claim your faucets while you sleep!.

Buy Faucet Collector Bot here!

Final Steps

Take what I’ve written here and make it your own. You have full license to plagiarize all you want. First, replace my referral codes with your own referral codes (please let me know if you need help finding your codes). Send it out to your friends and family. Set up a seminar at your community center or library. Send it out on Facebook/Twitter/Instagram.

Conclusion

The thing about crypto is that the price does not stay the same. As much as I like free money I wouldn’t be advising you to do this for $900 a year — though that’s nothing to sneeze at, especially if it’s free. Early investors of Bitcoin paid just $.06 for a Bitcoin. A $100 investment seven years ago would be worth $28 million today. It is highly unlikely that crypto prices in one year will be what they are today.

What if crypto prices grew 30% on average? What if the value of your crypto holdings if crypto prices at the end of 2018 are 30% higher than they are today?

This is amazing growth and there’s a chance it won’t ever happen again, but cryptos have been on a growth trend for the past five years so I don’t think last year was a fluke.