For those who are “into” cryptocurrencies such as Bitcoin, Litecoin and others, it is hard to imagine the number of people who have no clue about what crypto is and how much money is being made and lost in this business.
What Is Crypto Currency?
Most people in the know will tell someone who isn’t “in the know” that crypto is “digital money”, or “electronic currency”, or something along those lines.
Many people have at least heard of Bitcoin, but of those who have heard of it few have any idea what it is. They for sure don’t know that there are dozens of other cryptocurrencies available to buy and sell.
For an excellent run down (explanation) see this ever expanding Wikipedia article.
Can I Make Money With Crypto?
There is an ever growing library of books and websites dedicated to helping people understand this new and growing market, but it pays to be careful and do your homework, there are plenty of scammers out there looking to take advantage of the “newbs”, the gullible.
Don’t Be Stupid
Don’t just send your hard earned dollars to the first guy (or website) promising to make your rich. This is a business in its infancy. There are sure to be many booms and busts along the way.
How Do I Get Started In CryptoCurrency Trading?
One of the best, cheapest, and easiest ways to get started learning about how “crypto” works is to get your hands on a very cheap, but very popular cryptocurrency called Dogecoin. You’ll need a “wallet” to hold your coins. These things are explained on the main Dogecoin site noted (and linked to) above.
Join A Community
There is a very vibrant and ever growing community surrounding Dogecoin on Reddit.com. You can see what people are saying about it at this link.
Can I Buy Things With Dogecoin?
There are plenty of websites that accept dogecoin in payment for goods and services. The best place to start looking is to visit some of the Dogecoin directory sites that break things down into categories. The following are a couple to get you started.
Is It Safe?
As mentioned above there are scammers out there and you do need to understand how to keep your cryptocurrency safe. It is not a difficult thing, but securing and backing up your wallet is a very important thing.
Is It Legal?
Governments around the world are looking closely at this question. For now though you don’t need any special licenses or permission from any governing body to buy, sell, use, spend, or whatever. You can even use cryptocurrency for gambling online at this point in time with no problems because crypto isn’t considered money, although people are using it for trade and such.
More To Learn
As this new way of doing business evolves there is sure to be plenty more to learn. Just like email was looked at with suspicion in the early and mid 1990′s and now everyone uses it cryptocurrency looks to be filling a need that has to this point remained unfulfilled.
If you don’t know about crypto now, your are sure to be hearing more about it in the months and years to come.