Cryptocurrency Investing Lessons (Part 2)

Our cryptocurrency course will get you up to speed in no time. Just click on the image that corresponds with your desired lesson to launch the course.

Exchanging USD To BTC

Lesson 15 - (6:06) How to navigate a brokerage exchange.

Buying Altcoins

Lesson 16 - (9:54) Moving BTC from a broker to an exchange and buying altcoins.

Selling Altcoins

Lesson 17 - (3:31) How to sell an altcoin on an exchange.

Doing the Research

Lesson 18 - (13:54) Doing the research to confirm a winning coin.

Selling on Spikes

Lesson 19 - (5:43) Staying active and locking in profits.

Dealing with Volatility

Lesson 20 - (5:04) Being smart when the market drops and things get tough.

Securing Your Coins

Lesson 21 - (10:45) The different methods to secure cryptocurrency coins.

MyEtherWallet

Lesson 22 - (5:19) How to use MyEtherWallet to store tokens.

BitAddress

Lesson 23 - (4:27) How to use BitAddress to store Bitcoin.

Tether (USDT)

Lesson 24 - (2:55) What is Tether and how do we use it.

Coinigy (Part 1)

Lesson 25 - (8:51) Using Bollinger Bands, On Balance Volume, and RSI.

Coinigy (Part 2)

Lesson 26 - (6:03) Using the Fibonacci Retracement to select the best entry point.

Congratulations

Lesson 28 - (0:40) Finishing this course and succeeding in the cryptocurrency space.

Tracking Trends

Hope your having fun! Time to test what you've learned.


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Cryptocurrency Quiz 2

What is the most secure place to store cryptocurrencies?

1. On an exchange wallet
2. On desktop computer wallet
3. On a paper wallet

Paper wallets are off line and considered cold storage, so they cannot be hacked, but are still sustainable to theft, being destroyed, or human error.

If you keep your money on an exchange there’s always the risk of them?

1. Being hacked
2. Being mismanaged
3. Some kind of fraud
4. All of the above

Mt.Gox, the onetime largest cryptocurrency exchange lost over 850,000 bitcoins. That is many billions of dollars! No one really knows exactly what happened, but it was likely a combination of theft, fraud, and mismanagement.  

We’re required to pay taxes on our cryptocurrency profits?

1. True
2. False

You are required to pay taxes on all profits, in the US that is listed on the IRS.gov site. 

If your goal is to hold the coin for a specific period of time you always want to hold for that length no matter what?

1. True
2. False

Things are always changing and goals need to be reevaluated as the market changes.

When a coin spikes and then falls back down, on average, how far will that coin trade back down after the price spike?

1. 30%
2. 45%
3. 60%

Each case is unique, but on average a coin typically falls about 60% after it reaches its high point and people start selling. This is also backed up by the Filipacchi Retracement. 

When a new coin project sounds like it’s going to be great and that we cannot go wrong we should invest immediately?

1. True
2. False

You should always keep in mind, if something sounds too good to be true, it probably is. Before you invest any money, you should do your research. This includes reading the whitepaper, lookup and evaluate the team, as well as research trends and competition on the marketplace. This can be a tricky one, but before you do any investment you should look at the project with a skeptical eye and do as much homework as necessary to ensure the project is a winner. 

Tether is a cryptocurrency that mimics the value of a dollar?

1. True
2. False

Tether is a cryptocurrency that trades on a one to one basis with a dollar (Or another country currency). It’s good to purchase if you think there's going to be a drop in the cryptocurrency market and do not want to go through all the steps to transfer your coins back into real USD. 

Our favorite hardware wallet and the one that ‘s typically regarded as the best is?

1. Trezor
2. Ledger Nano S
3. KeepKey

The Ledger Nano is the most versatile, comes with the most integration, and overall the most popular of the group. Just make sure you order directly from the manufacturer and not off Amazon or eBay. Click here for details.

All 8 questions completed!


Cryptocurrency Quiz 2

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