Cryptocurrency Transactions Take Time; Waiting is Normal
In cryptocurrency, it can take a while for transactions to complete. This is especially true if you are sending cryptocurrency between exchanges.
Cryptocurrency Basics
Cryptocurrency is a general name referring to all encrypted decentralized digital currencies like Bitcoin.
Cryptocurrency uses cryptography to create coins and secure transactions. Typically cryptocurrencies are open source with pubic, but encrypted, ledgers of all transactions based on blockchain technology.
There are a number of cryptocurrencies traded on cryptocurrency exchanges, and the growing popularity of cryptocurrency 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, it is considered investment property). 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.
TIP: If you are new to cryptocurrency, check out our guide to cryptocurrency for beginners.
What are “Trading Pairs” in Cryptocurrency?
In cryptocurrency, the term “trading pairs” describes the asset pair being traded (typically one cryptocurrency for another). For example, the “trading pair” ETH/BTC.
How to Give Bitcoin (and Other Cryptocurrencies) as a Gift
We explain how to give Bitcoin and other cryptocurrencies as a gift (for example, how to give Bitcoin as a Christmas gift or Birthday gift).
How Does Cryptocurrency Work? (for Beginners)
We explain “how cryptocurrency works.” The goal of this guide is to teach beginners about blockchain and digital currencies (like Bitcoin).
How To Create a Custom Token in MyEtherWallet (How to Add a Token)
To add a custom cryptocurrency token (such as a token from an ICO) to your MyEtherWallet, follow the instructions below. The gist is the same for all Ethereum wallets.
Proof of Stake (PoS)
Proof of Stake (PoS) is an alternative to Proof of Work (PoW) where mining power is based on how many coins a person holds. Essentially, new coins are created as interest paid on existing coins.
Cryptocurrency Resources
Here are some cryptocurrency resources for those getting started with cryptocurrency.
Penny Cryptos
Bitcoin can cost upwards of $20k, but many cryptocurrencies cost only a fraction of a dollar (or a few satoshis). These are “penny cryptos” (like penny stocks).
How to Get Bitcoins
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 and the Lightning Network Explained
SegWit, SegWit2x, and the Lightning Network (LN) are all terms that describe proposed changes to Bitcoin’s blockchain to allow for faster transactions.