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Crypto 101- Earning From Crypto: Bitcoin, Altcoins - Investment - Nairaland

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Intro 2 Crypto (101 Crypto) # / How To Buy & Sell Crypto/bitcoin On Binance Safely As A Beginner In Nigeria (2) (3) (4)

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Crypto 101- Earning From Crypto: Bitcoin, Altcoins by souzadchef(m): 8:41am On Mar 14, 2021
I'll be breaking down all the info I've gathered over time in very simple language.
You might have heard allot about: Bitcoin, altcoins, tokens, ledgers, wallet, wallet address, dips, exchanges, ATH, block chain, paxful, binance.

My aim is to explain what all this means and how you can empower yourself to take advantage of this especially now that usual channels for trading for Nigerians have been blocked by FG.

Every resource here is 100% FREE and purely for educational purposes. This is not financial advice as the crypto market is very volatile.

2 Likes

Re: Crypto 101- Earning From Crypto: Bitcoin, Altcoins by LauraClasikVibe(f): 9:00am On Mar 14, 2021
Oya! Let's go there

You have FREE coin waiting! Join #Binance and we'll both get $100 of either Ada or BNB FOR FREE. Sign up with https://accounts.binance.cc/en/register?ref=71948646
Re: Crypto 101- Earning From Crypto: Bitcoin, Altcoins by jamace(m): 9:36am On Mar 14, 2021
LauraClasikVibe:
Oya! Let's go there

You have FREE coin waiting! Join #Binance and we'll both get $100 of either Ada or BNB FOR FREE. Sign up with https://accounts.binance.cc/en/register?ref=71948646
You are here already? grin

3 Likes 1 Share

Re: Crypto 101- Earning From Crypto: Bitcoin, Altcoins by LauraClasikVibe(f): 9:42am On Mar 14, 2021
jamace:
You are here already? grin
Yes
Re: Crypto 101- Earning From Crypto: Bitcoin, Altcoins by jamace(m): 9:45am On Mar 14, 2021
LauraClasikVibe:
Yes
Alright. Let's wait for our teacher. cheesy

2 Likes

Re: Crypto 101- Earning From Crypto: Bitcoin, Altcoins by LauraClasikVibe(f): 9:53am On Mar 14, 2021
jamace:
Alright. Let's wait for our teacher. cheesy
Okay wink
Re: Crypto 101- Earning From Crypto: Bitcoin, Altcoins by Jedalord: 4:59pm On Mar 14, 2021
Oga wa I dey greet o

3 Likes

Re: Crypto 101- Earning From Crypto: Bitcoin, Altcoins by souzadchef(m): 7:58pm On Mar 14, 2021
Please I'm not responsible for any links posted here except by myself. Thread carefully and avoid clicking suspicious links especially if you have any value stored on you device.

1 Like

Re: Crypto 101- Earning From Crypto: Bitcoin, Altcoins by souzadchef(m): 8:28pm On Mar 14, 2021
What is crypto currency?

A currency that exists digitally or online ONLY
That is, it can not be touched or held physically like our usual currency(Fiat/cash).
example of a cryptocurrecy is Bitcoin(BTC), Ethereum(ETH), Dogecoin (DOGE) etc.

The letters in bracket are their acronyms.
Most digital currencies have VALUE(Price).
Usually this Based on current supply and demand and good news about the currency.
E.g : Dogecoin which grows in value when Elon musk posts a meme about it or Bitcoin which grows whenever an investor gets In.

These currencies are then stored on a ledger called [b] BLOCKCHAIN[/b]Blockchain. However When you buy a crypto currency from an exchange (paxful, binance, kraken), it is stored in a wallet which is on the BLOCKCHAIN.

3 Likes

Re: Crypto 101- Earning From Crypto: Bitcoin, Altcoins by souzadchef(m): 8:31pm On Mar 14, 2021
This is my wallet on paxful. With the dollar worth of Bitcoin in it.

2 Likes

Re: Crypto 101- Earning From Crypto: Bitcoin, Altcoins by ElectronicMoney(m): 10:01am On Mar 15, 2021
souzadchef:
This is my wallet on paxful. With the dollar worth of Bitcoin in it.

Oya continue
Re: Crypto 101- Earning From Crypto: Bitcoin, Altcoins by Nobody: 3:14am On Mar 16, 2021
LauraClasikVibe:
Yes
number please?
Re: Crypto 101- Earning From Crypto: Bitcoin, Altcoins by LauraClasikVibe(f): 7:08am On Mar 16, 2021
081087n:

number please?
I don't understand
Re: Crypto 101- Earning From Crypto: Bitcoin, Altcoins by Nobody: 1:39pm On Mar 16, 2021
LauraClasikVibe:
I don't understand
or whatsapp it's important

2 Likes

Re: Crypto 101- Earning From Crypto: Bitcoin, Altcoins by LauraClasikVibe(f): 5:51pm On Mar 16, 2021
081087n:

or whatsapp it's important
Do you have a mail?
Re: Crypto 101- Earning From Crypto: Bitcoin, Altcoins by lavylilly: 9:02pm On Mar 16, 2021
souzadchef:
What is crypto currency?

A currency that exists digitally or online ONLY
That is, it can not be touched or held physically like our usual currency(Fiat/cash).
example of a cryptocurrecy is Bitcoin(BTC), Ethereum(ETH), Dogecoin (DOGE) etc.

The letters in bracket are their acronyms.
Most digital currencies have VALUE(Price).
Usually this Based on current supply and demand and good news about the currency.
E.g : Dogecoin which grows in value when Elon musk posts a meme about it or Bitcoin which grows whenever an investor gets In.

These currencies are then stored on a ledger called [b] BLOCKCHAIN[/b]Blockchain. However When you buy a crypto currency from an exchange (paxful, binance, kraken), it is stored in a wallet which is on the BLOCKCHAIN.
The best place for this lecture is on WhatsApp so as to avoid ban
Re: Crypto 101- Earning From Crypto: Bitcoin, Altcoins by Jedalord: 1:55am On Mar 17, 2021
lavylilly:
The best place for this lecture is on WhatsApp so as to avoid ban

That's true o or telegram. Is there a way around it,our teacher?

3 Likes

Re: Crypto 101- Earning From Crypto: Bitcoin, Altcoins by LauraClasikVibe(f): 5:48am On Mar 17, 2021
081087n:

or whatsapp it's important
Kindly drop a mail I can reach you on.
Re: Crypto 101- Earning From Crypto: Bitcoin, Altcoins by LauraClasikVibe(f): 5:48am On Mar 17, 2021
Jedalord:


That's true o or telegram. Is there a way around it,our teacher?
Telegram is better

1 Like

Re: Crypto 101- Earning From Crypto: Bitcoin, Altcoins by QuintEDove: 1:09pm On Mar 17, 2021
Teacher, please continue here. This will benefit alot of unemployed youths out there.

2 Likes

Re: Crypto 101- Earning From Crypto: Bitcoin, Altcoins by souzadchef(m): 7:37am On Mar 18, 2021
souzadchef:
What is crypto currency?

A currency that exists digitally or online ONLY
That is, it can not be touched or held physically like our usual currency(Fiat/cash).
example of a cryptocurrecy is Bitcoin(BTC), Ethereum(ETH), Dogecoin (DOGE) etc.

The letters in bracket are their acronyms.
Most digital currencies have VALUE(Price).
Usually this Based on current supply and demand and good news about the currency.
E.g : Dogecoin which grows in value when Elon musk posts a meme about it or Bitcoin which grows whenever an investor gets In.

These currencies are then stored on a ledger called BLOCKCHAIN.
However When you buy a crypto currency from an exchange (paxful, binance, kraken), it is stored in a wallet which is on the BLOCKCHAIN.
Each wallet has an address ( like your bank Account number). The address is your contact for receiving, sending and tracking transactions.
The wallet address is usually written in a long encoded format: 3MQJPnj9bQJQEdfwjr51u92nDxpG8s5tbT

To receive say Bitcoin from someone, they'll need this wallet address or it's barcode

Re: Crypto 101- Earning From Crypto: Bitcoin, Altcoins by souzadchef(m): 7:49am On Mar 18, 2021
Now comes the big question,
How do you earn from Cryptocurrecies?
There are multiple ways to earn from Cryptocurrecies but the basic principle involved is 'Buying Low and Selling High'
That is buying at a cost price and making sure you sell at a selling price higher than you bought in to make a [b]PROFIT.[/b]
PROFIT= SELLING PRICE - COST PRICE
E.G PIC1: Bought at 26787317 and sold at 26979689

1 Like 1 Share

Re: Crypto 101- Earning From Crypto: Bitcoin, Altcoins by souzadchef(m): 7:52am On Mar 18, 2021
Jedalord:


That's true o or telegram. Is there a way around it,our teacher?
I have alot on my plate currently and I know how crazy it is managing groups plus I want as many people as possible to gain from this info. Thank you

4 Likes

Re: Crypto 101- Earning From Crypto: Bitcoin, Altcoins by souzadchef(m): 9:15am On Mar 18, 2021
Now, that's the most fundamental point in crypto trading.

'Buying Low and Selling High'


I'll be using Bitcoin as a case study; Bitcoin should be your standard. Bitcoin is the undisputable leader in the cryptocurrency world. Most trading is based on the performance of bitcoins.

For day to day trading, most folks use paxful and binance. However I use paxful because of personal preferences plus the network fees to block chain isn't too high so I can sell offline to bulk buyers. Paxful is an online platform with inbuilt escrow, wallet and lots of Nigerians trading p2p every second. In my experience, You earn by VENDING, DAY TRADING and LONG TERM HODLING
To understand how you can earn with any trading strategy you choose, whether is long term trading(HODLING) or Short term trading ( Day Trading),
we need to understand how the price works.

Bitcoin is said to be[b]Speculative[/b] and Volatile because it's price changes very[b]fast[/b]and rapidly too.
For instance, Bitcoin could be worth $55,500 at 12:00pm today and change to $54,800 at 12:59 same day within an hour interval.
However, this is what makes it possible to gain or lose quickly based on this price movements.
When bitcoin price goes up, it is called a GAIN or a bullish run, when it gains back to back.
When bitcoin price goes down, it is called a DIP/LOSS or a bearish run, when it loses back to back.

Usually, current Bitcoin Price is determine by volume being bought or sold and positive/negative news about the bitcoin market.

1 Like

Re: Crypto 101- Earning From Crypto: Bitcoin, Altcoins by Nobody: 5:32pm On Mar 18, 2021
LauraClasikVibe:
Kindly drop a mail I can reach you on.
081087n@gmail.com

2 Likes

Re: Crypto 101- Earning From Crypto: Bitcoin, Altcoins by Blesser28(m): 7:38pm On Mar 18, 2021
souzadchef:
Now, that's the most fundamental point in crypto trading.

'Buying Low and Selling High'


I'll be using Bitcoin as a case study; Bitcoin should be your standard. Bitcoin is the undisputable leader in the cryptocurrency world. Most trading is based on the performance of bitcoins.

For day to day trading, most folks use paxful and binance. However I use paxful because of personal preferences plus the network fees to block chain isn't too high so I can sell offline to bulk buyers. Paxful is an online platform with inbuilt escrow, wallet and lots of Nigerians trading p2p every second. In my experience, You earn by VENDING, DAY TRADING and LONG TERM HODLING
To understand how you can earn with any trading strategy you choose, whether is long term trading(HODLING) or Short term trading ( Day Trading),
we need to understand how the price works.

Bitcoin is said to be[b]Speculative[/b] and Volatile because it's price changes very[b]fast[/b]and rapidly too.
For instance, Bitcoin could be worth $55,500 at 12:00pm today and change to $54,800 at 12:59 same day within an hour interval.
However, this is what makes it possible to gain or lose quickly based on this price movements.
When bitcoin price goes up, it is called a GAIN or a bullish run, when it gains back to back.
When bitcoin price goes down, it is called a DIP/LOSS or a bearish run, when it loses back to back.

Usually, current Bitcoin Price is determine by volume being bought or sold and positive/negative news about the bitcoin market.

is there any way to get bitcoin or eth without verification
Re: Crypto 101- Earning From Crypto: Bitcoin, Altcoins by Alcatel17: 7:44pm On Mar 18, 2021
LauraClasikVibe:
Oya! Let's go there

You have FREE coin waiting! Join #Binance and we'll both get $100 of either Ada or BNB FOR FREE. Sign up with https://accounts.binance.cc/en/register?ref=71948646

Laura is dz real?...as in if I register I will get dz free coins worth $100 without been forced to make a deposit??

2 Likes

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