Blockchain

What is Bitcoin, and what exactly are Cryptocurrencies?

bitcoin

December 2017 saw the price of 1 Bitcoin drop from an all time high of $20000 (about R317000 at the time) to $11000 (or R190000) within the space of 3 days. That was 2 weeks ago. Today, (at the time of writing this), it is sitting just above $16500 (See table 1 below or view live table here). That’s understandable, considering the price went from $8000 to $20000 per Bitcoin over the previous 2 week period. It seems you have to take the good with the bad but first you need to seriously understand the nature of the beast you are dealing with when it comes to Bitcoin, and certainly all cryptocurrencies.

There has been a lot of hype around Bitcoin recently so we thought we’d start doing our own research. There is a LOT of information out and it’s easy to get lost in the noise if you go at it alone, this is why we have created a forum section where we’ve compiled a comprehensive, yet organised, resource hub for Cryptocurrencies and Blockchain Technology. We will keep adding verifiable resources to the Crypto Desk and hope it will become your go to reference guide as you take your own journey down the cryptocurrency lane – you can create your own profile, start your own topics, as well as discuss and exchange ideas with other investors.

VERY IMPORTANT: The information we give here is NOT investment advice and should not be treated as such – DO YOUR OWN RESEARCH before making a decision to invest. Also note that past performance is not an indication of future results. Only invest what you are willing to lose and know that your capital is at risk.

Crypto Desk

Click here for the Crypto Desk Forum

Cryptocurrencies are essentially just digital money, digital tools of exchange that use cryptography and the aforementioned blockchain technology to facilitate secure and anonymous transactions. There had been several iterations of cryptocurrency over the years, but Bitcoin truly thrust cryptocurrencies forward in the late 2000s. There are thousands of cryptocurrencies floating out on the market now, but Bitcoin is by far the most popular.

Crypto Currency Price24H Changes
Bitcoin (BTC)
8871.4
6.7%
Ethereum (ETH)
609.151
7.04%
Ripple (XRP)
0.912154
8.97%
Bitcoin Cash (BCH)
1131.27
16.6%
Litecoin (LTC)
153.597
4.54%
Cardano (ADA)
0.299191
7.97%
IOTA (MIOTA)
1.95626
10.56%
Monero (XMR)
269.214
10.09%
NEM (XEM)
0.408143
5.42%
Dash (DASH)
452.885
4.64%

 

New to cryptocurrencies? Start with these articles:

Now that you get the basics, here are links to our forums filled with educational material for the three biggest cryptocurrencies by Market Cap as of January 2018.
  1. Bitcoin (BTC)
  2. Ripple (XRP)
  3. Ethereum (ETH)
Ready to start investing but not sure which platforms to use or trust? The following platforms have proven to be reliable and user friendly. Also, use our referral codes below and get extra coins when signing up.

 

Bitcoin and Ethereum – Luno Exchange, enter code MK2AY for bonus coins (South African Rand account, invest from as little as R10)
Ripple – Binance Exchange enter Referral ID 16766268 for bonus coins (You’ll need Bitcoin or Ethereum to trade. All other coins, “altcoins”, are also listed on this exchange)

 


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Associated Links

Sources: Investopedia | Binance | Luno

Screenshot from ZASA Magazine’s new Financial Markets Page:

Table 1

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