Learn How to Get Started in Bitcoin, Crypto Currencies and Decentralized Finance So You Can Benefit from the Next Wave of the Digital Evolution And Build Generational Wealth
Block Assets Crypto Guide and Resources
The goal with this guide is to help people learn how to build generational wealth using crypto currencies and the fast growing world of decentralized finance. There is lots to learn but there is a huge opportunity when you learn how it all works and how you can benefit from the largest transfer of generational wealth in history.
Before we start
Because you are early to this ever expanding and changing industry, you need to know and understand there are risks in life and crypto is no different. Bitcoin and crypto currencies are highly speculative and can be very unpredictable. This is a new industry and that comes with a lot of unknowns, uncertainty and volatility.
DYOR - This is an acronym you will see in this industry a lot.
It means DO YOUR OWN RESEARCH and it's solid advice. The best way to deal with the risk is to educate yourself and learn as much as you can. There is new language and concepts to grasp and once you do, you will understand the risk better so you can make informed decisions and also see the best opportunities.
Disclaimer: None of what I am sharing with you is to be considered investment advice. I am not an investment advisor. You need to do you own research and make your own informed decisions.
If you are ready, let's jump in.
It all started with a blockchain called Bitcoin...
What is Bitcoin?
Bitcoin is a digital currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. He wrote a white paper explaining the why and the how of this new crypto currency.
Bitcoin makes international payments easy and cheap because bitcoins are not tied to any country or subject to regulation.
Benefits of Bitcoin and why people are buying it and using it.
- transactions are made with no middlemen(no banks)
- no transaction fees
- no need to give your real name
- can be used to buy products and services anonymously
- great for small businesses because there are no credit card fees
- more merchants are beginning to accept them. (You can buy web hosting services, pizza or even manicures)
- bitcoins as an investment(hoping that it will go up in value)
Where can you Buy Bitcoin with other currencies?
To get started, you need to buy Bitcoin with fiat currency like US or Canadian dollars. There are several marketplaces called “bitcoin exchanges” that allow you to buy or sell bitcoins using different currencies.
How to Transfer Bitcoins between people?
You can send bitcoins to anyone using mobile apps or computers. It’s very similar to sending cash digitally using services like Paypal or AliPay and others.
Where do Bitcoins come from?
Bitcoins are mined by very fast computers working to solve complex math puzzles. This is how bitcoins and some other Proof of Work Tokens are created. Currently, a winner is rewarded with bitcoins roughly every 10 minutes. You can learn more about mining hardware and software further down the page.
How can you "own" Bitcoins and other Crypto Currencies?
Bitcoins and other crypto currencies are stored in a “digital wallet,” which exists either in the cloud on the internet or on your computer. The wallet is sort of like of virtual personal bank account that allows you to send or receive bitcoins and other crypto currencies, buy stuff, earn interest rewards or to simply save your money for the long term. In the crypto world this is called HODL which means to hold for the long term appreciation in the asset.
Crypto Wallets
There are 2 main types of wallets: hardware and software wallets.
Hardware Wallets
Hardware Wallets are physical wallets with your private keys encrypted in them. You need a digital signature that is your ID. It's used to prove that you own a specific key while keeping it private. Your private keys are isolated from your computer, keeping your risk of theft near zero. The only negative is that they cost money.
- Trezor Wallets - Highly recommended
Software Wallets
Software Wallets are programs that live either on your computer or on the Internet and most are free to set up. They are still connected to the Internet and expose you to some risk but they are still the most popular choice for most people and the easiest to get started.
Crypto Exchanges
A cryptocurrency exchange, or a digital currency exchange, or a decentralized exchange(DEX) is a business that allows customers to trade or exchange cryptocurrencies or digital currencies for other assets, such as conventional fiat money or other digital currencies.
If you want to learn how to trade cryptocurrencies I use Binance for this. They provide a great user experience and also are a great source for learning more about advanced areas such as Staking, Futures, Loans and other financial assets. Start out using less than $1,000 as the crypto market is highly volatile. Always do your research as there is lots of scams in this industry but there are also lots of amazing projects creating huge value in the marketplace.
Top Cryptocurrency Spot Exchanges
CoinMarketCap ranks and scores exchanges based on traffic, liquidity, trading volumes, and confidence in the legitimacy of trading volumes reported. Find over 300 different crypto currency exchanges here.
Earning Interest Rewards on Your Assets
Crypto Payment Processing
- CoinPayments - Accept Crypto Payments on our website
Crypto News
The following list is a collection of the most popular crypto currency, Bitcoin new providers.
Crypto Mining Software
Bitcoin and Crypto Token mining software is essentially what makes Bitcoin work. By tracking and securing transactions known as blockchains, miners are able to earn bitcoins rather than having to pay for them with actual currency.
Mining software can only be used by specialized hardware that is powerful enough to run the complex calculations required to create new secure blocks.
Miner Software
Mining Farm Management Software
Crypto Mining Hardware
Tokens are mined on primarily two different types of devices. There are Graphics Processing Units, know as GPUs that can be used for mining and then there are ASIC Miner. An application-specific integrated circuit (ASIC) is one that has been designed for the single specific purpose of "mining" digital currency.
ASIC Miners
- Bitmain
- StrongUtech
- Goldshell
- Whatsminer
- Canaan
- Baikal
- Bitfily
- Bitfury
- Bitmain
- Ebang
- FusionSilicon
- iBeLink
- Innosilicon
- MicroBT
- Obelisk
- PandaMiner
- Spondoolies
- Todek
- Hummer Miner
- iPollo
GPU Miners
- Nvidia