CryptoCurrency Tutorial – 1

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What we’re going to cover in this blog will be huge so I wanted to start with an introduction for people new to what crypto currencies are and how they fit into the world. We’ll start by covering the following topics:

  1. Understanding what a cryptocurrency is.
  2. The difference between cryptocurrencies and blockchain technology
  3. How to get involved in crypto
  4. The benefits and Risks of crypto
  5. One perspective on the future possibilities
  6. How to forge your own path

Who will benefit from this report?

Maybe you’re like Jenny who’s heard about cryptocurrencies on the news, on the internet and has a friend who bought some Bitcoin because her son kept telling her to get involved, but she doesn’t think she’s tech-savvy enough to get started. Or Chris, a young guy who dreads the idea of finishing college with a massive debt and no real feeling of how he can make his future financially secure and saw some young developers becoming millionaires in the blockchain space and wants to find out more. Or you’re just wondering what all the fuss is about…

Bitcoin sign on news

Perhaps you’ve been told “It’s all a bubble”, “it’s just like Tulip Mania in Amsterdam”, or “This is another dot com bubble” and are waiting for the whole thing to come crashing down…

Maybe you’ve heard all about crazy Bitcoin valuations with it jumping from $1,000 to $20,000 in the space of a year and you’re wondering “what the hell is going on? Can this be real?”…

Have you missed the boat?

I’m going to address these issues and more. This report will give you more than a basic understanding so you can join in the conversation and make intelligent choices.

Are you ready? Let’s get started on this crypto journey together…

What you will learn:

I have been studying and learning about cryptocurrencies for years; there is always something new to learn and the subject can become very technical. In my experience, the best way to learn any topic is to start with an introduction, learn the basics, then keep digging. In writing this I made a conscious decision to keep it simple – I’ve created this guide as a starting block which you can use to get a good understanding of the crypto landscape as a whole. From there, when you want to delve deeper, you will have a solid base of knowledge to do it from.

Who am I, and what do I know about Crypto?

My name is Andy Henry and I’ve been learning about cryptocurrencies and the technology surrounding them since 2011 when I was looking into Bitcoin and the ability to mine it with a normal gaming PC, and as a gamer and Techie I thought I’d see what it was all about.

Bitcoin was relatively new back then and hardly anyone was talking about it so I downloaded a software wallet and set my PC mining. Pretty quickly it became obvious that the PC itself was not going to mine much and the technology had moved on to requiring ASICs (Application Specific Integrated Circuits – designed specifically to mine Bitcoin), so I checked out what was available and did some mining tests using little USB ASICs. I plugged about a dozen of them in via a USB hub and left them mining for me.

At the time the few Bitcoin that I had mined weren’t worth much and companies were coming out with bigger ASIC devices that were selling for between £20k and £30k each. One such device was a ButterflyLabs ASIC miner and they were in such demand that when I looked at ordering one there was already a delay of several months before receiving it. As the hardware was developing quickly, by the time it would have arrived it would barely be profitable, so I stopped mining at that point.

In hindsight it would actually still have made a lot of sense, because even making a small loss at that time would have accumulated some Bitcoin which – with the crazy price increases – would still have definitely been worth it.

I eventually sold my Bitcoin a while later when it reached £50 thinking I had made such a great return that my efforts had been worthwhile. I think I still have an old PC somewhere that has some mined Bitcoin from those years which I’ll have to dig out and check.

One of the things I love most about learning is that I get to share my knowledge with others who want to learn.

So as a lifelong techie, Internet marketer, a currency trader and an investor, I was naturally interested in all the aspects of crypto and am now an avid crypto enthusiast, investor, crypto miner and speaker.

When I talk to people I meet so many that don’t yet have enough basic knowledge to have much of a conversation about the deep crypto info, and I often get asked “do you have something I can read that will get me started?” – This report is the answer to that question.

 

Let’s get started with the basics… Click Here