Trade cryptocurrency with accuracy and professionalism by documenting your purchases in the Cryptocurrency Investments Portfolio.
Learn from your trades and earn more as your portfolio grows. As a trader, it is easy to forget how much you initially invested, making it confusing when determining how much you gained or lost. Write down your emotional mental state to monitor personal trading behaviors. The portfolio can be used by beginning and advanced traders of cryptocurrency.
There’s a limited amount of Bitcoin. When Bitcoin was founded, the creator of the cryptocurrency only made 21 million. Right now, over 16 million are in circulation, however, more are being mined every day.
Fact #2 – It’s Important To Never Misplace Your Password/Keys
You store your Bitcoins in a digital wallet. You can log in and check your balance. One thing, though, you have to be very careful when it comes to storing your password and key, which is what allows you to access your digital Bitcoin wallet. If you lose this access, you’ll lose access to your Bitcoin wallet and the amount you have inside.
Fact # 3 – You Must Report How Much You Own
Regulations for Bitcoin are in fact still in the making, however, the U.S. government has declared that Bitcoin – as well as other cryptocurrencies – are in fact capital assets, just like bonds and stocks. Keep in mind that if you don’t account for the Bitcoins you are in possession of, you could be on the hook for tax evasion.
Fact # 4 – It’s Created Through Blockchain
Bitcoin is created through process is called mining and the core technology behind it is called Blockchain technology. It’s dependent on a network of nodes, ensuring the integrity of transaction history by achieving consensus.
Fact #5 – The Inventor Is Technically Unknown
Although Satoshi Nakamoto has been credited with developing Bitcoin in 2009, we know that most certainly this is a pseudonym for a single person or a group of people who were working on the idea. Nakamoto vanished from the Internet back in 2011, leaving only a few clues as to who he/they might be.
How much do you know about the coins that are in your wallet? If you aren’t sure, it’s always a good (great) idea to go to that particular coins website and learn about the programs and projects they have going on.
Why? Many coins offer airdrops and other rewards that are only available through them.
The more you know about a crypto company the more you know about their involvement with the community, value, views and company culture.
Do your research and aways know what you are investing in.
There are coins being dropped daily. From meme coins, to spam, to well backed one’s. Therefore its best to do your due diligence and follow the cryptocurrency market.
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If you have heard of cryptocurrency then we are sure that you probably have heard the word blockchain.
But, what exactly is blockchain?
Blockchain is a system of recording information on a cloud ledger in a way that makes it difficult or impossible to change, hack, or cheat the system.
The mechanics of blockchain are extremely complex, hence why many followers of cryptocurrency do not bother learning about it. The basic idea of blockchain is very simple: to decentralize (the process of shifting control from one main group to several smaller ones) the storage of data so that such data cannot be owned, controlled or manipulated by a central actor.
Bitcoin, and cryptocurrency in general is extremely volatile which is all the more reason why people invested in should know why it exists and how it works. Those who do their research on the value of blockchain in the end will be the most successful as the world continues to adapt to cryptocurrency.
Blockchain shows a lot of promise for a diversity of useful technologies.
Blockchains depend on the utilization of public/private key pairs to identify contributors in transactions or contracts. Therefore, it can be used in other real-world (familiar) cases.
What else can blockchain be used for other than cryptocurrency?
Real Estate, Land, And Auto Title Transfers
One of the key objectives of blockchain is to remove paper out of the processing method, as paper trails are frequently a primary cause of uncertainty of record keeping. When buying or selling land, a house, or a car, the individual transfers or receives a title. As a replacement for of handling this on paper, blockchain can store these titles on its ledger, permitting for a crystal clear view of this transfer and rightful ownership.
Currently Merck is testing such a blockchain system for prescription drug returns. Blockchain could be a means of clearly tracking prescription medicines. Because prescription returns do occur, counterfeit medications are intercepted (and sometimes not) blockchain propositions prescription drug companies the ability to track their products based on serial and/or batch numbers to ensure that consumers are getting the real deal when they pick up their medications from the pharmacy.
Payment Processing And Money Transfers
Arguably, the most understood use for blockchain is as a means to expedite the transfer of funds from one party to another with digital currency. Since the US dollar isn’t disappearing just yet, there still needs to be ways to make its transactions more secure. With banks soon eliminated from the equation, and authentication of transactions ongoing 24 hours a day, seven days a week, nearly all transactions that are processed over a blockchain ledger can be settled within a matter of seconds.
In the future blockchain could compete with current dollar trading platforms to buy or sell stocks. For the reason that blockchain systems confirm and settle transactions immediately, it could eliminate the wait time traders and investors confront when selling stock(s) and requesting access to their funds for the objective of reinvestment or withdrawal.
Wills And inheritances
As a replacement for establishing a paper will, people could have the preference of creating and storing their digital will on a blockchain network. When used with smart contracts (self-executing contracts with the terms of the contract between individuals directly written into lines of code), which could distribute inheritances, both money and property, based on when certain criteria are met (such as trust fund agreements). Thus this would leave no issues as to who should receive what assets when an person pass away.
Article By Kadesh Carter – Earthy Realist CEO
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