Investing in Cryptocurrency For Dummies (For Dummies (Business and Personal Finance)) by Kiana Danial

Part 1
 Getting Started with
 Cryptocurrencies

IN THIS PART …
 Know what you’re getting into before buying, investing, or trading
 cryptocurrencies.
 Check out the perks of cryptocurrency investing, and understand the
 risks involved in the cryptocurrency market and how to manage
 them.
 Discover how blockchain (the underlying technology behind
 cryptocurrencies) makes them unique and revolutionary.
 Familiarize yourself with how different types of cryptocurrencies
 operate.

Chapter 1
 Introducing the World of
 Cryptocurrencies
 IN THIS CHAPTER
 Looking at the fundamentals of cryptocurrencies
 Knowing what you need to make transactions
 Getting an overview of your first steps in your crypto journey
 So, you’ve picked up this book, and your first question is probably this:
 “What the heck is a cryptocurrency, anyway?” Simply stated, a
 cryptocurrency is a new form of digital money. You can transfer your
 traditional, non-cryptocurrency money like the U.S. dollar digitally, but
 that’s not quite the same as how cryptocurrencies work. When some
 cryptocurrencies become mainstream, you may be able to use them to
 pay for stuff electronically, just as you do with traditional currencies.
 However, what sets cryptocurrencies apart is the technology behind
 them. You may say, “Who cares about the technology behind my
 money? I only care about how much of it there is in my wallet!” The
 issue is that the world’s current money systems have a bunch of
 problems. Here are some examples:
 Payment systems such as credit cards and wire transfers are
 outdated.
 In most cases, a bunch of intermediaries, such as banks and brokers,
 take a cut in the process, making transactions expensive and slow.
 Financial inequality is growing around the globe.
 Your assets could be confiscated.

Investing in Cryptocurrency For Dummies (For Dummies (Business and Personal Finance)) by Kiana Danial