If you have searched for the best resources for cryptocurrency beginners, you are either curious and keen on exploring the world of crypto or would like to have a solid understanding of the matter. TechTrends will provide you with a comprehensive guide on the best crypto resources on the internet.
The industry of blockchain is developing with plenty of paces. Compared to the traditional stock markets, the cryptocurrency markets are open 24/7 and they never sleep. Even those crypto experts and enthusiasts are aware that this is continual learning. The reason behind this is that many new cryptos are out every week and the projects that exit right now keep getting updated constantly to meet the ever-changing needs of the communities. With so many factors influencing the cryptocurrency markets, it is essential to use every resource available to stay informed about the latest news and developments. This article has put together the best resources for cryptocurrency beginners that will help you build a foundational understanding of Cryptocurrency. To learn more, check the article “What is cryptocurrency and how does it work?”
Best Resources for Cryptocurrency Beginners
For those who are new to the world of crypto, the entire concept may seem overwhelming. In the crypto industry, some people make a consistent profit, while others consistently lose. One key factor that separates winners and losers is knowing the best crypto resources in the market. That is why TechTrends decided to create this resources article to help those beginners speed up their learning curve.
Read more to see the best cryptocurrency sources for beginners in 2022 that will absolutely transform your interaction with the crypto sphere.
1. The Best Price Listing (Market Data)
One of the first and most important things in learning the best resources for cryptocurrency beginners is Market Data. It is important to find platforms that provide you with near real-time, accurate information on the crypto prices. Drawing in market data needs integrating with different exchanges, normalizing data and calculating average prices, all while not making any mistakes. Having an accurate pulse on the market, with reliable data is a necessity in becoming an investor or trader who makes a lot of profit.
One of the world’s most-referenced price-tracking websites in the market for finding out prices, volume and supply of coins is Coinmarketcap. It aims to provide users with unbiased, high quality and accurate information for making their own conclusions. Coinmarketcap, founded by Brandon Chez in 2013, has gained popularity in being the most trusted source for comparing crypto assets.
OnchainFX also tries to provide users with information like Coinmarketcap. However, its statistics are more unique. The categories they assembled for their coins are scams, top gainers, top losers, or view other figures, which gives perdition on the 2050’s market cap. In addition, you can have your own dashboard. This website is also becoming one of the most trusted in best resources for cryptocurrency beginners.
CryptoCompare is another website that has been active for a long time in the crypto industry. They provide their users with market data and tools to track portfolios. Moreover, they offer articles to stay informed about new developments and different coins. Therefore, it is one of the best resources for crypto beginners.
2. The Best Exchanges
Now, you may ask what the best exchanges are as we get deeper into the best resources for cryptocurrency beginners. One of the beginning steps toward gaining big profit is opting for reliable exchanges for trading. They are the gate to the world of crypto. There are three crucial factors that make an exchange useful, which are liquidity, security, and fees.
- Liquidity: This refers to the ease with which you can buy or sell an asset. The more liquidity, the more buyers or sellers will wait on your order request.
- Security: The second important factor is security. You are trusting an exchange with your money and security is a key necessity as it can be constantly under attack by hackers.
- Fees: Fees are also a crucial factor in making in differentiating a useful exchange from a useless one. Top traders in the crypto world are aware of fees and include them in their profit.
Now the best exchanges:
According to Coinmarketcap, Binance has the most volume and sits first on the list. This shows that they have the most money transactions and therefore, are the most liquid. In addition, they have never been hacked and have the most users. Due to its shining background, a clean track record, a reliable team, and a great deal of liquidity, Binance is one of the best exchanges out there.
Compared to Binance, Coinbase Pro gives fewer trading pairs. However, users, especially larger investors, trust this exchange. Coinbase Pro is in the U.S., FDIC insures them and they have never been hacked. The insurance backs US users that have more than $250,000 should something happen.
3. The Best Decentralized Exchange
A decentralized exchange has the same function as a centralized exchange. However, the only difference is the technical infrastructure, which is decentralized.
You may ask why use DEXs instead of or in addition to centralized exchanges. One of the benefits of a decentralized exchange is that there is no need for users to deposit funds to the exchange. Therefore, they can keep them safe in their wallet.
Generally, more security is offered when using DEXs; however, they are usually harder to use, with less liquidity.
Although there were many attempts at making a widely adopted DEX, Uniswap is the first to truly stick.
Notwithstanding its reputation, Uniswap is not an exchange in the strict sense of the world, but it is rather a decentralized liquidity protocol. It is a network that connects liquidity providers with traders. It is based on Ethereum that permits users to swap ERC-20 tokens
One of the oldest DEXs, IDEX is still offering service today. They are based on the web and have a smooth user interface. Besides, their liquidity enables average traders not to have problems getting their orders filled.
4. The Best Wallets
The best resources for cryptocurrency beginners article also aims to provide you with the best sources of wallets. In the world of crypto, your wallet works like your bank. If you choose reliable wallets, then you protect your money from hackers. The fastest way to lose all your holdings is a hacker stealing your private keys, or sending your digital currencies to the wrong recipient due to a poor wallet user-interface or security. To gain a solid understanding of this matter, check the articles “Best Crypto Hardware Wallets of 202” and “Best Crypto hot Wallets of 2022”.
Ledger and Trazor
These two are hardware wallets, also referred to as cold wallets. In other words, they are the safest kind of wallets for keeping your cryptos. Why? They do not always have a connection to the internet; they are air-gapped. Therefore, for those who do not intend to trade daily, this is the safest way.
They are free hot wallets, meaning that they are always connected to the internet. In one word, hot wallets are “online”. This is highly recommended if you are trading constantly, or plan to. The safest way to use them, however, is through Metamask.
Metamask is one of the most well-known Ethereum wallets. It allows its users to send Ether and ERC-20 tokens to decentralized applications on the web easily. A lot of dApps also work with a Metamask wallet.
In the beginning, a unique wallet was required for keeping each type of coin. However, thanks to Exodus, the hot wallet, that problem no longer exists. It backs 100+ coins and you can purchase them. Moreover, it has easy backup functionality. In other words, it is easy-to-use, user-friendly, and pretty popular.
5. The Best Trading Platforms
To explore the best resources for cryptocurrency beginners, we introduce the best trading platforms. Rather than opening different windows to trade in different exchanges, you can do the same on one platform. One of the benefits this type of trading platform represent is taking advantage of market opportunities quicker while monitoring the market more closely.
It is one of the most widely used trading platforms when it comes to the best crypto resources. They started in 2014 and are growing. Moreover, they back 45+ exchanges, trading charts, and quality support. This number is more than any other rivals in the market, which provides Coinigy users with an advantage over those non-Coinigy users.
In addition, they have historical data. Developers can use and purchase to experiment with their own strategies in trading.
Tradedash backs Bittrex and Binance, both being reliable and among the best exchanges in the crypto market. Therefore, liquidity won’t be a problem. Compared to Coinigy, which is web-based, Tradedash is a desktop application, meaning the private keys are encrypted and kept on their own machines, to ensure more privacy and security.
6. The Best Network Statistics
An important piece of advice for beginners who are trying to search for the best crypto resources on the internet is that you should not let negative news articles convince you that Bitcoin transactions are decreasing, or fees are increasing. You have to check it yourself. Why should you check the network statistics though? Well, seeing lots of transactional activity shows future price movement. Knowing how it works will give you an edge over many traders. This is one of the best resources for cryptocurrency beginners.
One of the most underrated crypto resources is this website. BitcoinVisuals is helpful in keeping up with Bitcoin, which is the biggest crypto in the world. You can check from a technical perspective how the network is doing and median fee costs per transaction, hashrate, is also available. For instance, if fees are down and miners’ amount is going up, then it may be a good edge to buy some coins.
When a crypto project’s development is not active, it might be a deal; this applies to all coins. You can check on CryptoMiso to see whether they are still active. In analyzing a coin, making sure the open-sourced projects’ activeness is crucial.
7. Best Free Courses to Learn Cryptocurrency
There are online courses available for everything and cryptocurrency is not an exception. While some are free, others should be paid for. For choosing the resources and education wisely, stick with conventional financial advisors who have CFP certification, that is certified financial planning.
However, among the best resources to learn about cryptocurrency, we found a few for you to take.
There are plenty of reliable resources at your disposal that can get you up to speed and teach you everything about cryptocurrency. However, among the best resources to learn about cryptocurrency, we have compiled a list of some of the best free courses to learn cryptocurrency in this article.
One of the best resources for cryptocurrency beginners is this course. Coinbase Learn is actually a set of flashcards. For people who aim to learn the basics of cryptos, this is an ideal free resource. It will focus on buying, selling and mining. This mini-course is like an objective resource, covering a lot of concepts shortly and intuitively.
Courser – Cryptocurrency Technology and bitcoin – Princeton University
This free course is available on the Coursera platform by Princeton University and it explains the basic aspects of cryptography and connects it to bitcoin basics. It is a video course with the lecturer explaining the implementation of decentralization and how to store and mine bitcoin. It also explains altcoins and how the future will be like.
Despite not receiving a certificate, you can use the knowledge presented to you by Arvind Narayanan, who is a computer science assistant professor at the university and concentrates on the security and stability of bitcoin.
EdX – bitcoin and cryptocurrencies – UC Berkeley
UC Berkeley offers the course on the EdX platform and is different from other courses as it contributes a section to EVM (Ethereum Virtual Machine). Furthermore, it explains the game theory and what attacking the bitcoin blockchain takes. Of the interesting facts about this course, we can mention the instructors have been part of the @Berkeley group’s blockchain. It is available for free and if you want to receive a certificate, then you have to pay $99.