For folks starting out into the Cryptocurrency world it is normal to feel timid about some few concept m, well you don't really have too feel that way cause starting out with something you absolutely need to takes time to understand you may be coming from a different background most especially when you're just stepping foot into the tech world. There are some few words you may come across that sound somehow odd to you, such as passphrase, wallet address , network fees, NFT tokens, Hashing number e.t.c just to mention few. I will do well to explain some of this words to you that could better your understanding.

First let dig in into some fascinating questions about Crypto itself

Who dictate the price ?

Why does the price fluctuate ?

which currency is best for investment?

How do i go about mining?

NFT Tokens

How do i trade?

First we need to understand what Cryptocurrencies are, basically they are digital coin which one can buy,store or earn in the ecosystem. There are tons of coins in this ecosystem varying from btc, ethereum,usdt, tether, Bnb, dogecoin, tron, Zcash, litecoin e.t.c to mention few. Bitcoin was the first coin created in the Crypto world and the main purpose of it's creation was to scrap out middle men in the mode of transferring funds between two end users the whole idea is to provide a scalable method in wiring cash from one point to another without hassle using digital method. Btc runs on a protocol known as blockchain, which allows transaction to be trace or monitor one's transaction with ease using a hashing number provided by the blockchain network, for a successful transaction to be made there are couple of confirmations that are to be meant which could take some couple of minutes. The bitcoin network is a peer-to-peer payment network that operates on a cryptographic protocol.

N.T when transacting on this ecosystem there are couple of things you need to bear in mind, in the process of initiating a transaction you have to be extremely careful in checking for the following: wallet address, network protocol for any mistake made in the process of initiate the transaction you're prone to loose your assest/coin which can not be reversed

The market price One thing to bear in mind is the Cryptocurrency prices are not fixed and it changes from time to time, some even call it a volatile market where you can loose value in split of seconds and also gain value in a matter of minutes.

The main reason why the market price fluctuate is base on this following fact. When there are increase in demand of crypto currency the market price jumps up also depending on the amount of transaction carried out, this means when there's a surge in purchase the market price booms. Due to the restrictions in some part of the world where people can trade the coin this would amount to decreament in the ecosystem

    The KWB & KWS Rule 

Drum roll this is the most interesting aspect; like we all know the market price is not a fixed one so there are chances of increment and decrement. So for traders, investors,miner e.t.c you must know and i repeat must know your way around this take for instance The price of Bitcoin today is $54,705 now let say i bought 1 bitcoin for that value as a trader or investors who wants to make profit from the market after purchasing the coin as at today now imagine after some couple of days or weeks the price rose to $64,900 that means I made a whopping profit of $10,195 if am not mistaken. Trust me that's a huge deal i must tell you........... On the other hand let say i bought bitcoin for that same $54,705 price and after some few days the price droped to $42,300 that means i have lost a total of $12,405 😔.man that a bad deal/investment.

Like i mentioned earlier on how the market price is been placed, few months back when El salvador president announce it's support on allowing citizens / companies trade with Cryptocurrencies this allowed more people into the ecosystem which in turn increase the price of the currency when there are increase in usage of Bitcoin and other coin it increases the value. Well they're numerous ways on how the prices of Cryptocurrencies increased but I'm not going to cover them all here to learn more follow me on twitter %[@yungxix] or subscribe to my newsletter coming out soon.

Key Note Always stay updated on what new in the blockchain world and never missed out on what's trending.

Pros & Cons

Well i will do well to mention some few ones here: When transacting keep in mind that they're folks who only have malicious intentions, there have been cases of people loosing their coin to reapers and hackers on the other hand you can guide yourself from letting this happen. 1 When trading your coin never send your coin without confirming payment from the buyer and your bank, well some trading platform has made this easier for people using their services, they've came up with the idea of using a moderator in the process of transaction between two end users, this moderators keep watch on both parties in other for both end to have a cordial & successful transaction. Most fintech would even send you a pop-up message stating do not release crypto before confirming that money has arrived in your bank acct. Don't trust anyone when transacting and you should do well to double check the wallet address you're sending too, you both will be issued a hash number which you can use to track your transaction be mindful the network protocol you're using when sending cause protocol differ from coin to coin, btc protocol differ from ethereum protocol.

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