Bitcoin for Beginners: How to Invest in Cryptocurrencies and Diversify Your Investment Portfolio with this Ultimate Guide (2022 Crash Course)

Bitcoin for Beginners

How to Invest in Cryptocurrencies and Diversify Your Investment Portfolio with this Ultimate Guide

(2022 Crash Course)

Spike Poole

Copyright © 2022

All rights reserved.

ISBN:

CONTENTS

INTRODUCTION

Congratulations and thank you for purchasing Bitcoin for Beginners.

The following chapters will cover a wide range of topics, from the history of bitcoin and cryptocurrencies in general to the ins and outs of investing in layman's terms. Bitcoin for Beginners is intended for anyone interested in using bitcoin to supplement their financial plan or as a starting point for anyone interested in developing an investment strategy.

Bitcoin for Beginners will explain how bitcoin works and how to navigate the investment world. Readers will gain new knowledge of the economy, different investment paths, advice on starting an investment journey, and much more.

Continue reading to learn more about bitcoin, cryptocurrencies, investing, and how all three can be used in tandem.

There are numerous books on this subject available; once again, thank you for selecting this one! Every effort has been made to ensure that it contains as much useful information as possible. Please have fun!

Chapter 1: Glossary of Frequently Used Terms and Their Definitions

Bitcoin: a cryptocurrency created in 2008 by Satoshi Nakamoto under the pseudonym Satoshi Nakamoto.

Cryptocurrency: a digital asset designed to function as a medium of exchange, with a monetary value that can be converted into physical currency.

Blockchain: a public ledger that keeps track of bitcoin transactions

Mining: refers to the process of acquiring more bitcoins through the use of computer processing software to discover new bitcoins with no money required to begin investing: putting money into something in the hope of making more money

Stocks: represents ownership of a portion of a corporation wallet: a digital or physical storage device that holds cryptocurrency and can sometimes offer encrypting and signing capabilities

An algorithm is a set of calculations that a computer uses to solve problems.

Fractional-reverse banking occurs when only a portion of a bank's deposits are backed by physical currency and are available for withdrawal.

Block 0 is the first bitcoin block.

BTC: bitcoin abbreviation

Central bank: a government-regulated bank that provides money services. Peer-to-peer refers to a bitcoin network that relies on user-to-user exchanges without the use of go-betweens.

coinbase is a digital currency buying, selling, transferring, and storing platform.

BitPay: a payment processor designed specifically for the cryptocurrency bitcoin fork: occurs when a blockchain splits due to a block discovered by multiple miners at the same time, usually involving a protocol shift, and is resolved by the longer chain absorbing the shorter chain miner: a person who is actively seeking new bitcoin units through computer programming and software

Processor of payments: a piece of software designed to accept digital currency payments and transactions

FinCEN: Financial Crimes Enforcement Network, a division of the United States Department of Treasury tasked with preventing financial crimes.

Money-transfer business: any money-related business, such as a currency exchanger, a check casher, a money transmitter, or an issuer/seller of traveler's checks and money orders

A bitcoin faucet is a website or software that pays users in satoshis for completing a task.

Captcha: a spam-protection system used to distinguish between computers and humans when entering data.

Bitcoin network: a network dedicated to the exchange of bitcoins from one user ledger to another: a book in which financial transactions are recorded

Bitcoin address: the digital address to which a bitcoin is registered, which is generated by selecting a random private key.

Altcoin: a term used to describe all other cryptocurrency units that have been created since the creation of the bitcoin transaction: designated bitcoin input and output between users

Private key: used in bitcoin exchanges and paired with a public key; if the private key is lost, the bitcoins under this key become unusable.

The public key: generated using the bitcoin algorithm and paired with a private key used to publicly sign for the exchange of bitcoins

Satoshi: a one-hundredth-of-a-millionth

Fiat money: government-issued currency, such as the US dollar, that is not required to be backed by a commodity; banks can control how much money is printed, giving them greater control over the economy.

Crypto-yield: