Author: misamaliraza94
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Centralised vs Decentralised
As mentioned above, the most common model is a Centralised Exchange (CEX). The main reason for this is that in order for an Exchange to sell cryptocurrency, customers need to deposit regular (fiat) money from a bank, credit card or e-wallet – all centralised and regulated financial services. For this reason, the majority of exchanges are…
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How an Exchange Account works
Though cryptocurrency itself is decentralised – as explained in our basics of cryptocurrency section – the standard model for exchanges is a centralised one, which is why you’ll see the acronym CEX – Centralised Exchange. This is a big point of debate within the crypto community because using a CEX is a custodial option – remember ‘Not…
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Choosing an Exchange
Given the growing popularity of cryptocurrency there are an increasing number of exchanges to choose from. You’ll find that even the most credible exchanges struggle when demand is particularly intense, so try and plan the process of choosing an exchange, rather than reacting to the next big price rise. To make that decision easier we…
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Where you buy crypto
What you’ll learn What is a Cryptocurrency Exchange? Factors to consider in choosing an Exchange How an Exchange works Different Exchange models If you’ve read the previous two articles in this section you’ll know what a crypto wallet is, how to set one up and send/receive cryptocurrency. In order to buy cryptocurrency – the next…
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Adding the Recipient Address
You can add the address either as a QR code, by scanning from the recipient wallet with your smartphone, or typing/pasting the full alphanumeric string. If using the string, be very careful to copy all the letters and numbers. Most services offer a copy button to avoid mistakes. Inputting the Amount Input the amount, then…
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Bitcoin Balance
All currencies have different denominations. A Dollar breaks down to 100 cents, the same with Euro; Cryptocurrency is no different. Bitcoin was designed to break down to eight decimal places, and features four denominations: 1 BTC 1,000 mBTC (millibitcoin) 1,000,000 μBTC (microbitcoin) 100,000,000 Sats (Satoshis) How you’d like the App to display the balance is…
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Downloading your first crypto wallet
To download your Blockchain wallet use the button below which will take you to the Apple Store or Playstore. Once the App has successfully downloaded to your phone you’ll need to create an account. Creating An Account Though your Blockchain wallet is non-custodial and decentralised, you will still have an account for added security and…
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Setting up your first crypto wallet
A Mobile crypto wallet is nothing to be scared of. It is just an app that you download from the App Store or Play Store. There is a wide selection of wallets to choose from, and as with any other app that you are considering downloading, it is worth looking at the reviews with the…
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Sending & Receiving Crypto
What you’ll learn Setting up a mobile wallet Understand denominations Walk through send function Walk through receive function If you’ve read the previous article you’ll now be familiar with the basic concepts for safely storing cryptocurrency, and how a crypto wallet helps you do that. You’ll also understand some of things that differentiate wallet types…
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Getting Started
Though it may seem like there is a lot of information to digest around securing and storing your crypto, the most common route for beginners is as follows: Download a non-custodial mobile wallet, putting you in control Get comfortable with backing up your Seed Open a separate web wallet via an Exchange Move funds between…