Something a little different, on this long weekend. While the Emini was having one of the smallest range days EVER – 4.5 points top to bottom during the day session on Friday. Bitcoin was clocking up record volatility – 30% down in 48 hours, after 50% up in 7 days.
“So what?” you say. “Bitcoin is for geeks”. Well … is it?
[ Oh, and if you think Bitcoin is BS … please, please, don’t email me. ]
Some useful Bitcoin and Ethereum links
Buying Bitcoin is pretty easy. First, open an online Bitcoin wallet account. Second, buy your Bitcoin using funds transferred from your bank account or credit card. Then if you want to own another CryptoCurrency (like Ethereum or Ripple) use your Bitcoin to buy it. You can either do that through your online Bitcoin wallet or you can open an account with one of the CryptoCurrency exchanges and process the transaction there.
Your online Bitcoin (or CryptoCurrency) wallet is pretty central to the whole process. It can make your life easier, or harder. So it’s important to choose your wallet wisely. There are a few variables to consider:
- Identity verification rules vary from country to country – some requirements are quite stringent.
- Bitcoin purchasing fees can vary from 1% to 3% or more.
- Some wallets only hold Bitcoin, others can hold multiple CryptoCurrencies.
- Some wallets have limited options for buying other CryptoCurrencies.
- Account security (2-factor authentication) and reputation are important considerations.
One of the best Bitcoin and Ethereum mining services: Genesis Mining
Real-time price charts for all the major exchanges: Cryptowatch
One of the largest CryptoCurrency exchanges: Poloniex
Listing of all CryptoCurrencies in descending order of market capitalisation: CoinMarketCap
This video series explains the mechanics of Bitcoin Blockchain transactions: Khan Academy
I hope you found this video and information on Bitcoin and Ethereum helpful.