Frequently Asked Questions

There are tax ramifications and you should check with your government agency to see what those are. In the USA the IRS posts a link here for reference.

Those of us who are used to financial investing are familiar with one provider that delivers all the services we need. That may happen at some point in the cryptocurrency space, but that currently is not the case. Until that happens, we have to use whatever services are available to us,  and with the amount of profit that can be made, we don’t want to miss out because we were just too lazy to sign up to another website.

In cryptography, a public key is a cryptographic key that can be utilized by any party to encrypt a message. Another party can then receive the message and using a key that is only known to that individual or group, decode the message.

Proof of stake has been considered the greener alternative to PoW. Where PoW requires the prover to perform a certain amount of computational work, a proof of stake system requires the prover to show ownership of a certain amount of money, or stake.

Proof of work was a concept originally designed to sieve spam emails and prevent DDOS attacks. A Proof of Work is essentially a datum that is very costly to produce in terms of time and resources, but can be very simply verified by another party. The proof of work for Bitcoin is referred to as a “nonce,” or number used only once. This has been considered an energy intensive alternative to proof of stake as the computers unfortunately have to be on and running, which also drives the market towards centralization of hashing power… which is what the blockchain aims to defeat!

Mining is the term used for discovering and solving blocks along the blockchain. A reward is given for solving the algorithm and lengthening the chain, called a mining reward. The mining reward for the Bitcoin blockchain is Bitcoin.

A fork is the permanent divergence of an alternative operating version of the current blockchain. Forks come into existence when a 51% attack occurs, a bug in the program, or more commonly a new set of consensus rules come into existence. These happen when a development team creates and inserts notably substantial changes into the system. The successful fork is decided by the height of their blocks.

An Altcoin is the community accepted name for any coin that isn’t Bitcoin. For example: Dash, Ripple, IOTA, NEM and Monero are all major Altcoins.

A bitcoin address is essentially the same thing as your home address. It’s the location from which you would receive, send or hold your currency. These addresses generally manifest in a long string of alphanumeric characters and will look something like:

8MhN5qfH1vgx9CLL17i3DK9D2gzrHR7dZK

A wallet address is the public portion of the two encrypted keys necessary for a holder to accept or verify a transaction.

Money in a safe coin like bitcoin or Litecoin, maybe even Etheruem, Monero or Ripple. Just put your money there and check back a few years from now. The bubble that traders are talking about is the massive fluctuation of money in the Altcoin market where people are pumping in money in hopes to flip a profit when the value rises within a short span of time.

Not all coins are good or worth that sort of investment. Some coins never make it past investment stage. The early investors who cash out make it, the late comers die a horrible death. It happened with the dot com bubble of the late 90s; it happened with the subprime mortgage crisis in 2008. 2018 is looming on the horizon.

There are many ways to get Bitcoins, which you will need to trade other cryptocurrencies. There’s a variety of exchanges and wallets that you can find, depending on your needs. Many exchanges and wallets will store amounts of digital and/or fiat currency for you – a lot like a regular bank account. The most popular and the one’s we recommend are Gemini.com and Coinbase.com.

There’s many advantages to using cryptocurrencies, many of which include:

• Quick, Easy and Convenient – You can send and receive bitcoins anywhere in the world at any time in a matter of a few minutes.
• Low Fees – Normally, the fees for Bitcoin transactions are very small. Bitcoin fees can fluctuate due to the dynamic fee market. In addition, some wallets will also allow you to pay a fee you’re willing to spend. With higher fees, you’ll get faster confirmation of your transactions.
• Secure – When using Bitcoin, users remain in control of their transactions. You’re also protected from identity theft since Bitcoin payments can be made without personal information associated with the transaction.
• Transparent – All Bitcoin transactions are fully available on the blockchain for anybody to verify and use in real-time.

It’s important to start off slow, then moderately start to build up your cryptocurrency investments. Getting the fundamentals down is going to be key to long term success.

Once there is a good foundation in place, it’s best to start off with small trades. We recommend starting off with a few small investments and once you have a few trades under your belt and are feeling comfortable, only then scale up to the next level.

At this point it’s important to try many different back-end protected trades, with an account size of $10,000, feel free to execute as many as 10 trades a month to increase the rate of learning and at the same time having a well diversified portfolio. Don’t forget, you can also keep executing trades in a paper trading account, just to see how different trades play out. Remember, at the beginning it’s all about knowledge acquisition, and paper trading is a great way to get that.

We are not going to win every trade and our goal here is not to get rich. What we are doing is consistently making money year after year, a return on capital that out performs almost any other form of investment. This is not a get rich quick scheme, if anyone is telling you that you’re going to get rich quick doing anything, you should turn and run the other way, because those never work.

We are only there to give you the tool and the education you need to be a smart and skillful investor.

The fact is no one cares more about your money than you do. So it’s going to be very important that you take control and get the skills needed to make your money grow year after year.

Now that you are here, just relax, have fun and enjoy yourself. Investing is not only profitable, it’s fun, it’s empowering, and other people also have increased perception of people who manage their own money. Just be sure to take it slow, respect the process and if you have any questions we are always here to help.