Crypto Currency Beginner Questions
In this lesson we will cover some of the most common questions that crypto currency beginners have.
What is Bitcoin? What is Ethereum? What is Litecoin?
Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) are three popular crypto currencies. Other popular crypto currencies are Bitcoin Cash (BCH), Ripple (XRP), and DigitalCash (DASH). There are over 1,000 crypto currencies. We will tell you how to buy the largest and safest cryptocurrencies.
What are fiat and crypto currencies?
Fiat currencies are money created by countries / governments to hold wealth. Examples are: US dollar, Euro, Japanese Yen, Pound Sterling, Australian dollar, Swiss Frank, and Canadian dollar.
Crypto currencies are money created by companies or organizations, outside of countries / governments, to hold wealth. Examples are Bitcoin, Litecoin, Ethereum, Dash, Ripple, and Bitcoin Cash. Crypto-currencies are also referred to as digital or virtual currencies.
Fiat currencies can be created / destroyed / replaced by governments / countries. Not all fiat currencies are smart investments. You can make and lose money by investing in fiat currencies.
Likewise, not all crypto currencies are smart investments.
In our premium website - we teach you why some crypto currencies are good investments and list the best investments for different types of investors. In this free website, we tell you how to buy Bitcoin or one of the other largest and safest cryptocurrencies.
How can I see prices for different crypto currencies?
There are numerous websites that list the current crypto currency prices. Several of our favorites are:
In our premium website, we let you create a portfolio which lists the actual number of each crypto currency you own. We automatically fetch the price and calculate the value of each crypto currency you own.
We also have watch lists which allow you to track crypto currencies you may be interested in buying.
Our premium website also tells you which crypto currencies to buy and sell based on recent data.
What are crypto exchanges?
Crypto exchanges are typically websites where you buy and sell crypto currencies. Similar to stock exchanges, except crypto exchanges are open all day, everyday. You can pay fiat currency (like US dollars) to buy crypto currency (like Bitcoin). Or you can sell crypto currency (like Bitcoin) to get fiat currency (like US dollars). Or you can sell a crypto currency (like Bitcoin) to buy a different crypto currency (like Ethereum).
Although we often talk about online (website) crypto exchanges - large cities often have brick and mortar stores that buy and sell crypto currencies for cash on the side (as a part of their business). We do not suggest this for beginners. You will find out why in a later lesson.
We suggest you start out with an online website that we will detail in a later lesson.