The Exchange - CEX vs DEX
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by Chainatomy
4y ago
Once you're invested in crypto it's almost inevitable that you're eyes are going to be drawn to the array of thousands of altcoins and their narrative of the promised land. To get hold of them, or at least any that are out of your reach from the more mainstream gateways such as crypto.com or coinbase, you're going to need to set up an exchange account (or not in the case of a DEX) and send crypto to it. Their are basically two types of exchange. The centralized exchange (CEX) and the decentralized exchange (DEX). One of the biggest innovations recently in crypto has been the rise of the DEX ..read more
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The Temptation of the Market
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by Chainatomy
4y ago
Have you got started with Bitcoin yet? How about delving into any of the other cryptocurrencies? Does the following scenario seem familiar to you? `Look at the greeeen!` and then this... Idle Watching the rest of the market surge in a sea of double-digit green whilst Bitcoin idles by can make you think about investing your capital in some different cryptos. Ultimately, this is a decision you have to come to yourself, but here's a few important considerations. What goes up, must come down. Tread carefully when you invest in altcoins and above all, accept the risks that you take. Buy low, sell ..read more
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10. Putting Your ETH to Work
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by Chainatomy
4y ago
Part of the Crypto in 10 series Crypto has a strong meme culture. There's an acronym in the crypto world that goes by the term HODL, which means to hold an asset in spite of price swings under the hope/belief that it will increase in value over the long term. Now taken to mean "hold on for dear life", it all started from a drunken forum post that resulted in a misspelling of the word HOLD. Since then, we are hodlers not holders. For a lot of coins, the strategy isn't such a bad one seeing as being able to trade successfully is a difficult and potentially traumatic experience. Ethereum is chan ..read more
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9. Welcome to Defi
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by Chainatomy
4y ago
Part of the Crypto in 10 series With an internet connection, some cryptocurrency, and a well set up wallet system, you can now take control of your wealth and put it to work in a matter of minutes: Near-instantaneous loans without the need of bank approval or paperwork. Earning real interest on your assets, instead of suffering from low, zero, or even negative interest rates. Invest in real estate on a fractional level, bring in rental income from a $50 investment, sell your "bricks" whenever you wish. Re-balance assets and put trading strategies on auto pilot Gain exposure and trade on the ..read more
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8. Set Up Your Web Wallet
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by Chainatomy
4y ago
Part of the Crypto in 10 series What do you store in a wallet or purse? Cash? Receipts? Business cards? Photographs? With your crypto wallet you're going to be able to store cryptocurrencies, cash (stablecoins), auto re-balancing token baskets, real estate property, verified ownership of artwork... and a whole lot more. Bitcoin is digital gold - and it's amazing, but it's the bells and whistles of Ethereum that're going to wow you with what crypto and the Blockchain can expose you to. For now you want to think of your Exodus wallet more as a safe, a vault, a bank - it's stored on your phone o ..read more
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7. Beyond Bitcoin
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by Chainatomy
4y ago
Part of the Crypto in 10 series It's time to look at the rest of the market. All cryptocurrencies that aren't Bitcoin can be collectively referred to as altcoins (or 'alts'). There are thousands of them. Bitcoin is king for good reason, but are any of the alts worth keeping an eye on? To help us figure out what's going on in the rest of the market, there are couple of crypto categories that you should be aware of before treading cautiously into the altcoin market. They have somewhat derogatory terms: Shitcoin: A coin with no potential value or use. Some shitcoins are also scamcoins, but not a ..read more
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6. Own It - Your Mind is a Bank
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by Chainatomy
4y ago
Part of the Crypto in 10 series ...or at least it could be if you wanted. If you have cash in your hand, you'll win most arguments by claiming that you own it. What about your bank balance? That might be a trickier debate with some. Sure, it's "your" account, but ultimately your bank is going to make decisions without consulting you. It has custody of your funds. Consider the following quote from an article in the UK based newspaper The Guardian: Your bank can unilaterally edit its database to change the amount of money it thinks you have, and it does so often. Yikes. Banks have big databases ..read more
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5. Wallets Wallets Wallets
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by Chainatomy
4y ago
Part of the Crypto in 10 series Now you've purchased Bitcoin, you need to decide where to store it. There are a lot of options to summarize, but in a broader sense there are only 2 categories. Custodial and Non-custodial. Whilst we will summarize both types below, we're going to focus on covering non-custodial wallets here in more depth. Non-custodial means you are responsible for your funds, and it's important that you at least learn how to do that and the freedoms it gives you, regardless of what you end up choosing. Custodial Wallets Storing with a custodian means trusting someone else, us ..read more
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4. Buying Bitcoin Peer to Peer
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by Chainatomy
4y ago
Part of the Crypto in 10 series Roads... Bitcoin is seen as money for the people, but with an estimated 31% of the global population without a bank, not requiring identity checks and verification doesn't always mean laundering money and criminal activity, sometimes it's just about giving the less fortunate a leg up. Although there are a multitude of more familiar ways to buy Bitcoin, at it's heart it is a Peer to Peer currency, and as such you don't necessarily need bank accounts or passports to enter the ecosystem. If you decide to follow up on any of these methods, note that you will likely ..read more
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3. Buying Bitcoin With A Debit/Credit Card
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by Chainatomy
4y ago
Part of the Crypto in 10 series You will need: For sign up - laptop/pc or phone/tablet. For verification and purchase - passport or drivers licence, debit/credit card or bank details. Note: Buying Bitcoin without all this verification is possible, if this is something you need to do, check out this post Bitcoin these days is relatively easy to purchase, and there are a number of ways to do it. We're going to briefly lay out 3 ways to buy below and there's some free sign up money/crypto along the way as well, so keep you're eyes peeled. Note that the freebies are subject to the service terms ..read more
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