Bitcoin can cost upwards of $5k, but many cryptocurrencies cost only a fraction of a dollar (or a few satoshis). These are “penny cryptos” (like penny stocks).
Cryptocurrency is a general name referring to all encrypted decentralized digital currency like Bitcoin. Cryptocurrency uses cryptography to create coins and secure transactions. Typically cryptocurrencies are open source with pubic, but encrypted ledgers of all transactions.
There are a number of cryptocurrencies traded in markets, and the growing popularity means that despite volatile prices, market caps and values are growing every year.
Popular cryptocurrencies include the original Bitcoin, Ethereum’s Ether, and Litecoin.
Cryptocurrency is legal and taxable in the US, but it isn’t legal tender (you can’t pay your taxes in Bitcoin). With that said, due to its infancy and history so far, cryptocurrencies should be invested in and used with their historical volatility in mind.
Click on any of the pages below to learn more about cryptocurrency.
To get Bitcoins you’ll need a Bitcoin wallet and a place to buy Bitcoins. One all-in-one solution is Coinbase, but there are many options to choose from.
SegWit, SegWit2x, and the Lightning Network (LN) are all terms that describe proposed changes to Bitcoin’s blockchain to allow for faster transactions.
We explain how to get or earn “free” cryptocurrency like Bitcoin (all of which take time, effort or an initial investment).
A hard fork is when a single cryptocurrency splits in two. It occurs when a cryptocurrency’s existing code is changed, resulting in both an old and new version.
To send or receive cryptocurrency, first you need a cryptocurrency wallet, then you need to put in the public address of the sender and recipient.
For tax purposes, in the U.S., cryptocurrency is generally treated as property (a capital asset like stocks, bonds, and other investment properties). It is not treated as currency like the U.S. dollar.
We explain how to trade cryptocurrency for beginners. To start trading cryptocurrency you need to choose a cryptocurrency wallet and an exchange to trade on.
Altcoins are cryptocurrency alternatives to Bitcoin. There are thousands of altcoins used today each with their own unique functionalities, purposes, and quirks. Altcoins can be fun, profitable, and educational investments.
Below is a list of important cryptocurrencies and additional resources you can use to learn more about all the different cryptocurrency types.