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The cryptocurrency culture is all around us. People are talking and trading in billions. And it was just seven years ago when Laszlo Hanyecz bought two pizzas with Bitcoins worth $41. Today, even as the Bitcoin wave ebbs and flows, one BTC is worth $10000. Lazlo could have eaten a lot of pizzas with the $41 worth of Bitcoin he spent at Domino’s.
Bitcoin and other cryptocurrencies are on a wild ride now. But, will it be another Ponzi scheme or can it change the face of the world?
For my hard money, I think it will be a lot of both. The currencies may flounder to be reborn later. But, the blockchain technology behind cryptocurrencies can change the world.
Either way, you can become a part of this wonderful development because it may just stay with us for some time. So, let’s take a crashcourse so you can confidently answer someone when they ask — what is all this buzz about Bitcoin?
This is part of our continuing series on the best Udemy courses you can benefit from.
Key Lesson: Understand the fundamentals of Bitcoin technology.
You may not have any interest in Bitcoin mining or taking part in a Bitcoin trade. But, it is worthwhile to grasp the concept of Bitcoin basics and how the Blockchain works. It can make you seem smarter than usual around a dinner table. It is also possible that some type of decentralized blockchain will become a part of our lives sooner than later.
So, give this basic Bitcoin fundamentals course three hours from your day. George Levy offers a clear introduction to Blockchain and how its cryptographic ideas guide Bitcoin mining and trading. This knowledge is not only critical for every cryptocurrency but also for any application beyond cryptocurrencies.
Key Lesson: Start your journey with Bitcoin but also mind its risks.
Bitcoin isn’t a scam. The way it is used and sold can be. Money (even digital money) attracts the sharks. A new cryptocurrency scam pops up every day and each hit can lower the price at the exchange. So, stay aware of cryptocurrency scams even as they become part of our wallets.
This short course is all about Bitcoin and giving you the confidence to start investing in a cryptocurrency. You will also go into it with the awareness of the common perils and what are the common steps you need to bulletproof your wallet.
The course is again an introduction, but the Safety and Security Strategies section is at the core of it.
Key Lesson: Know how to buy and sell Bitcoin and Altcoins on the Cryptocurrency Exchange.
Where do you go after you’re familiar with Bitcoin basics? You can generate your own Bitcoins with a process called Bitcoin mining. But, it is resource intensive as you will need powerful hardware. Unlike the early days, mining is cost prohibitive today for the average Joe. Instead of Bitcoin mining, you can consider alternative currencies or purchase them for investment from different cryptocurrency exchanges.
So, learn to identify which are the good alternative coins (altcoins). From the well-known Ethereum, Dash, and LiteCoin to more specialized ones like Zcash and Monero. Cryptocurrency investment needs your complete focus and this is where the guide helps. It lays down the ICO (Initial Coin Offerings) ground rules and strategies you need to apply.
But always remember, trading is not for everyone. Start it when you know your target and why you want to invest.
Key Lesson: Build a successful portfolio with Bitcoin and Altcoins.
You will either love the promise of cryptocurrencies, hate it, ignore it, or get totally confused by it. The last is likely because there are almost 1400 currencies today and more are coming up. Bitcoin is still the largest and Ethereum follows in the pecking order.
This course will not help you understand the ecosystem behind all these cryptocurrencies. It is an 8-hour comprehensive dive into the world of digital currency management. The main goal is to learn investment strategies and then move on to the active trading of cryptocurrency. When you’re done, you’ll know how to invest in Bitcoin and how to develop a Bitcoin investment strategy.
As a learner, there is no harm in taking more than one course. It can help you remove the “investment biases” if any of the coaches who are teaching the courses.
Key Lesson: How to use different wallets to keep your digital investments safe.
Unlike shares and stocks, you can’t just jump into the game with only your trading skills. You will need one more expertise to handle all the digital dangers — security. Bitcoins and altcoins may be peer-to-peer decentralized electronic cash systems secured with the best of cryptography. But just like any other financial breach, they can be stolen by phishing attacks on your computer.
Take this two-hour course and put your cryptocurrency in cold storage. Because the weakest link here isn’t the blockchain but the user. Crypto-wallets have safeguards and there are different kinds of wallets. This course will teach you all about the benefits and risks of each wallet, and how to manage your investments with them.
Take this extra step when you are playing the long game with cryptocurrency.
Are You on the Cryptocurrency Wave?
Cryptocurrencies are no longer the exclusive domain of geeks. It is a bit of the Wild West and some parts of Wall Street. Every day there is an interesting development that makes us perk up and take notice. Today, you may just decide to jump in. Just follow the basic ground rules of cryptocurrency investing. Teach yourself all you can and don’t bite off more than you can chew!
These five Udemy courses are a good place to get Bitcoin basics explained quickly. Search for a few more on the education platform. As you know, every paid course on Udemy comes with:
- Lifetime access.
- 30-day money-back guarantee.
- Certificate of completion.
Do you think cryptocurrencies like Bitcoin will change the way we save money? Does anything about it scares or confuses you so far?