Friday, August 10, 2018

What is Cryptocurrency?

What is cryptocurrency? What is a Bitcoin? A Litecoin? Well, I believe that this topic has the potential to create a lot of wealth. Here you will find
some resources on cryptocurrency and how to build your own portfolio. As with all my pages, this will be constantly reviewed and updated to make sure you are getting the best information out there.

What is Cryptocurrency?
A cryptocurrency is a type of digital currency that was created by anonymous programmers to bypass the normal currency restrictions and to find a way to encrypt and secure a form of payment. The most common form of cryptocurrency known is the Bitcoin, which at the time of this writing has surpassed $4000 in value. At the time of its creation, the Bitcoin, or BTC for short, was valued at very low compared to the US Dollar and other fiat currencies, so those who had bought into it at that time are now worth a lot of money. There are other forms of cryptocurrencies in addition to BTC that are currently worth a lot less than BTC at the moment. Many investors are beginning to place money in these currencies since they hope the value rises to the level that BTC has, which would end up creating a lot more wealth in the future. As a individual who strongly believes in diversifying one's portfolio, I believe that more should invest in digital currency to hopefully be part of the next surge in value. There are some limitations to this industry, however, since it can be subject to hacking and crashing. If you'd like to read more, Investopedia has a very indepth look into digital currency and its benefits and limitations. As a beginning to this very complicated industry, here is the path I suggest you take:

First, you need to sign up with CoinPot as this is where the four faucets I'd like you to start claiming from deposit their funds. This wallet of sorts allows you to build up enough currency so that you can transfer it to a regular crypto-wallet once you have enough. All you need is to create an account with your email address and set up a password. Once that is done, you can begin to claim from faucets. Please note that this particular wallet only accepts currency from three types of coins, the ever popular bitcoin, litecoin, and dogecoin. This will allow you to begin learning with three currencies instead of getting confused with more complicated ones. At this point, all you are doing is collecting and not withdrawing to your own personal wallet. Coinpot also has its own mining capability. Basically, you choose "Mine (specific coin)" and leave the tab open. The program will reward you for allowing its software to use your computer to mine the coin. The rewards are not large, but it's a way to passively earn money without claiming anything yourself.
MinerGate is a mining software that you can download to your computer and use to mine different coin currencies. This is not a super profitable exercise, but it does help you build up a supply of some of the lesser known coins. At my point of the journey, I am still only collecting and have not received much in the way of coins yet. I am continuing to keep it running a few hours a day, so eventually I will see a profit.
Faucets to claim from:
*NOTE* Sometimes there's a lot of popups that happen while claiming from these faucets. This isn't a sign that your pc has been hacked, but a way to help fund these faucets and to help them continue to be profitable. They are annoying, but as long as you just close them as you get them you should be fine. Also, a lot of these will be disabled or unusable if you have popup blockers or advertiser blocking software since the sites rely strongly on advertiser income. If you don't want to trust these sites due to the popups, that's up to you, but you need to remember that there will be a significantly smaller amount of sites available to you. Each of these particular faucets dumps their earnings directly to CoinPot... In order to "log in" to these faucets, all you need is the email address you set up with CoinPot and all your earnings will be automatically placed there. There is nothing else you need to do other than solving the captcha and clicking "claim"
Bonus Bitcoin
Moon Bitcoin
Moon Litecoin

With the exception of Bonus Bitcoin, each of these faucets are unique in that they allow you to claim as often or as little as you want. The bare minimum time between claims is five minutes, but you can claim at any time interval you want. I have noticed that often the faucet amounts increase quickly up to a certain time period, and then begin to decrease, which means that you can pull every ten to twenty minutes and earn slightly more than if you pulled every hour. This little interesting  fact makes it really easy to continue to earn while you're not at your computer as the amounts tend to still go up. Another interesting tidbit about these three faucets is that they offer bonuses for claiming every day, bonuses for referrals, and a mystery bonus for claiming every day. This set of bonuses can be really helpful to build up your collection. For this week, your goal should be setting up these accounts, building up currency, and allowing the Coinpot miner to build up some of your balance without working for it. This is a fantastic idea for a stay at home parent who can claim a few faucets per day and let the proceeds build up. This may not be a viable immediate income idea, but obtaining digital currency is a wonderful way to begin investing in your future.
Tune in next time for more information on different faucets that dump their claims into Coinpot and a little more on the various currencies available. Also, in my pages, I will be listing various faucets that I personally use.

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