The year 2018 will be the year of the Cryptocoins. Due to the enormous succes of Bitcoins the Cryptocoins have become
also very popular around the world. Lots of people would like to dive into this world and start trading Cryptocoins
but they lack all the necessary knowledge to begin and stay away because they fear to loose money.
On this website you will find everything that is needed to start with Cryptocoins. You will learn what they are, what
the most important Coins are at this moment. How you can store cryptocoins with Wallets
How you can generate coins yourself with Mining. How you can generate interest by Staking
cryptocoins and of course how you can start trading cryptocoins on all the different CryptoCoin Exchanges.
After that you will know all that is needed and you can start. It's fun and you can make a lot of money with it.
This is the standard list of the most important cryptocoins right now. The list gets updated daily and all coins have a number (#), code, name and logo. Besides that the price, trading volume and the generated money supply of the cryptocoins is stored in the coinsmarketcap list.
This is a must larger list of cryptocoins that are actively traded on the Exchanges. They have prices determined by the orders that are placed on the Exchanges. This list of cryptocoins is very important because these are the cryptocoins that you will be able to buy and sell to make profits. There are lots of cryptocoins exchanges at the moment and you can see a list of all cryptocoins on the major cryptocoin exchanges here: Coins Exchanges
Finally there is a list of all the Cryptocoins. Unfortunately this list is not actively maintained. Since the start in 2009
there have already been generated more then 10.000 Cryptocoins. Most of these coins are not active on an Exchange and because
of that they have no price and are not tradeable. Some of these coins are quite new and because of that not registered on an
Exchange yet. Others are much older and have been active on Exchanges but are not polular anymore and because of that removed
from the Exchanges. Lots of these old Cryptocoins are actually 'dead', which means that there is no active network anymore for
the coin to process transactions. For such a coin you will not be able to 'synchronize' you wallet.
A relatively good overview of all the Cryptocoins can be found here: All Cryptocoins
Cryptocoins are stored in so called 'Wallets'. There are PC-wallets for Windows and Linux and sometimes also
online web-wallets on websites. Webwallets have the advantage that you don't have to synchronize your wallet
but the disadvantage that you can loose all your coins if the wallet provider disappears.
Each wallet has his own website or a thread on the Bitcointalk forum: Bitcoin Talk
where you can normally download your wallet.
The older coins have a SETUP program to execute but all the newer coins have an executable which can be unpacked and executed immediately. When you start a wallet program the wallet will try to connect to the coins network. When this succeeds the coin will start 'synchronizing'. This means that the wallet will download all the historic transaction-information which is also called the 'Blockchain'. The synchronisation will take a long time for older cryptocoins but for new coins it will be very fast. At any time you can see the status of the synchonisation by placing your mouse right-down in the wallet screen. You will see how many blocks have been loaded and how many blocks and days are left to be done. When the synchonisation is ready you can start sending and receiving cryptocoins with your wallet.
To be able to work with Cryptocoin Wallets we have made a manual for all users describing the proces of installing and working with Cryptocoin wallets. You can find it here: Introduction Wallets
When you dont want to spend so much time with wallets you can also use the wallets on Exchanges. When you start to trade on the Exchanges you will get a wallet for each Cryptocoin that you will buy there.
'Mining' is an activity used to create Cryptcoins. You can do this individually with your own computer
or together with others on a so-called mining-pool. 'Mining' is a calculation-process in which an algorithm
is solved. After the problem is solved a fixed amount of coins will be made that will be fairly distributed
to all the participating mining computers.
'Mining' is done following a protocol which is called the 'Algorithm'. Traditionally there were 2 algorithms 'SHA-256' for mining bitcoins and 'SCRYPT' for mining litecoins. Since then lots of other algorithms have been defined which were based on the SHA or SCRYPT algorithms.
Until some time ago it was rather profitable to start mining Scrypt cryptocoins. With relative low hashing-power from 1 MB/s to 100 MB/s it was possible to quickly mine large amounts of new cryptocoins. Due to the start of POS coins, that do need special mining equipment, mining of POW coins has become less popular. Another factor is that in the recent years big miners appeared with large ASIC-boards who were able to mine very large amounts of new cryptocoins directly after the start making it unprofitable for smaller miners.
At the moment for small miners the mining of Cryptocoins is not profitable anymore. It is more profitable to buy some POS coins and start staking them or trade cryptocoins on the Exchanges.
Until recently the only Scrypt coins were 'POW' coins. POW means 'Proof of Work' and this means that all
new coins are made by a mining-process with mining-computers. After each generated block (with coins) the
difficulty of the calculation increases which makes it increasingly harder to mine new POW coins.
Because of that some time ago a new Scrypt coin has been introduced which is called a 'POS' coin.POS stands for 'Proof of Stake' which means that new coins will be generated with a process called 'Staking'. Staking is a process generating cryptocoins according to a fixed percentage, much like interest works on banking accounts. Staking is a simple process which only needs a wallet and no special mining hardware. You just need to put your POS coins into your wallet and after that they will start staking immediately. Staking coins can be very profitable at high percentages. It uses far less computing power and therefor the costs of staking are also much lower then the costs of mining.
For people who like to start staking we have made an introduction to staking: Introduction Staking
On the Exchanges you can register yourself to trade with Cryptocoins. There are lots of Exchanges where you could
start and you will find a list of them below. On the website Cryptocoins City you will
find the latest news and all relevant trading information for the major Exchanges.
To start with trading you might consider YOBit and CoinsMarkets These are simple Exchanges to get started with lots of interesting coins. The other Exchanges that are really interesting to check out are:
NovaExchange , Cryptopia, Bittrex, CoinExchange,HITBtc, TradeSatoshi and C-CEX
For those who want to start trading on several exchanges we have made an introduction. This introduction covers all the important steps to make like registering, security, send/receive bitcoins/cryptocoins and of course placing buy and selling orders. You can find this introduction here: Introduction Exchanges