Learn About Cryptocurrency Through These Useful Resources

After sitting on the sidelines for quite a while, you have finally taken it upon you to learn about cryptocurrency.

Whether it’s the mechanics of Bitcoin and the way it’s taxed or an introduction to crypto trading, you are probably looking for a collection of the best cryptocurrency resources.

In this article, our team sat down and collected all the sources that helped them become experts in their field. Here’s what we will be talking about:

With a little bit of patience and willingness to learn, the information found in this post will be all you need to improve your knowledge in all areas of the crypto-world.

So, make sure you bookmark this post and enjoy reading!

Learn About Cryptocurrency – Our Top Resources

The resources we are about to share come in different forms. Some are guides and articles, while others are videos and podcasts. As with anything, do your own due diligence and focus on the subjects that most interest you.

We will split each category based on the type of information you are interested in. Are you new and want to learn more about Bitcoin? Then check the resources of the first subchapter. You wanna learn about cryptocurrency trading? Then check the second chapter, and so forth.

Understanding Bitcoin

King Bitcoin continues to dominate the crypto markets. If you are joining the market only now, chances are that you are looking for ways to increase your BTC position.

Before you go ahead and invest, it is important that you recognize what exactly Bitcoin is and how it works. You also need to stay on top of all developments, having access to credible resources.

So, let’s see which are the best resources when it comes to learning more about Bitcoin:

Read about Bitcoin

The best way to learn what Bitcoin is and how it works is by reading the original Bitcoin whitepaper. Written by Satoshi Nakamoto himself, this document contains everything you need to know about the technology that makes BTC scarce.

Next, make sure you read through our blog’s Bitcoin category. There, you can find information on how to invest correctly, where to buy from and how to sell your coins. It contains all the information you need to learn about cryptocurrency.

But that’s not all you can read! There are many great articles on Bitcoin, and one of our favorites is written by Vija Boyapati. It is a great introduction to Bitcoin and its inherent value. You can read it here.

Finally, if you can afford to spend a few extra bucks per month, you should consider signing up to Off The Chain. The newsletter of Anthony Pompliano is one of the best Bitcoin resources on the web. The daily newsletter to investors showcases the most important Bitcoin news of the day for a mere $10 per month.

Great podcasts and videos

There are a couple of great podcasts you can listen to, so you can learn about cryptocurrency. These will educate you about Bitcoin while keeping you updated with the recent news and developments. Our favorite podcasts are

• What Bitcoin Did – The website also contains some great resources that will help you learn about Bitcoin.
• Off The Chain – Anthony Pompliano also has a podcast, where he interviews industry experts.
• Unchained & Unconfirmed – Great podcasts by journalist Laura Shin.

As far as videos are concerned, anything by Andreas Antonopoulos and Tone Vays is a great place to start.

Improving your trading skills

Are you ready to get into crypto trading? If you have considered the risks associated with this practice, you can proceed in this chapter.

• Before reading anything else, check out this (somewhat lengthy) guide on Bitcoin and Altcoins trading. Even though it’s written in 2016, it’s still very relevant today.
• Also, make sure you check our cryptocurrency trading guide, where we help you make your first steps in the trading space.

Once you have gone through both guides, you can read upon the following for a more in-depth understanding of basic indicators.

Relative Strength Index (RSI)

The Relative Strength Index (RSI) is one of the most popular trading tools across all investment markets. It has also proven to be a powerful indicator of the cryptocurrency market. For those just starting out, it is a great place to start. Read this article to get a good introduction to the method.

Money Flow Index

The Money flow index is an indicator that is similar to the RSI. According to historical price movements, the tool has a 55% chance of being right in price predictions. As such, it is certainly worth exploring. This article is a great way to start learning about the tool.

Elliot wave theory

Ross Ulbricht, the founder of Bitcoin marketplace Silk Road, has written an impressive collection of articles on the Elliot wave theory. This trading tool has helped many investors identify the best moment to enter and exit the market. It has helped many people increase their BTC position.

Stop Loss strategies

A stop loss is an order that automatically sells your cryptocurrency at a given price point in order to hedge risk and limit a trader’s losses. This trading method has helped many investors “save” their funds during the latest bear market, which saw Bitcoin drop 85% in its value.

Our team found this article to be very helpful for new traders.

Also, make sure to watch the following video (explaining the order flow). It will help you get a better understanding of Risk management before deciding on your Stop Loss placement:

Advanced trading skills

Once you have a good grip on the basics, you can proceed to more advanced information. These resources will help you practice what you learn.

Best newsletter for advanced crypto-traders

Popular crypto-traders Cred and DonAlt write one of the most comprehensive newsletters for advanced traders. While you will need to pay $30 per month to join the list, you will get a better understanding of trading indicators. You will also improve your skills as a cryptocurrency trader.

Best Youtube channels for advanced traders

After going through the basic trading resources shared in the previous chapter, you can further delve into more advanced information. And yes, this information is 100% free to access. Some of the greatest Youtube channels for advanced traders include Crypto Cred, Tom Crown, Alessio Rastani, and 51% Percent Crew.

Bitcoin price indicators

After a bit of research, we discovered one database that helps people better understand the price movements of Bitcoin. The website lists 12 popular charts, explains them in detail and shows how the price of Bitcoin is currently performing based on these tools.

Understanding the current market sentiment

Many investors are what is known are solely focused on market sentiment when making trades. While this method naturally leads to much less trading, the positions are usually held for much longer.

In plain English, this means that you will buy or sell crypto based on whether or not people love or hate the crypto market. This process is very important when you want to learn about cryptocurrency.

To understand the market sentiment, you can start by reading our article on how to do your own research. In it, we talk about the importance of Social Media. We also introduce you to the channels you need to pay attention to.

Next, what you want to do is form a sort of collective market outlook. Usually, when looking at historical events, there are four stages of market sentiment:

• 1st Stage: When the market shows clear signs of recovery and people start believing in the potential of crypto, the market sentiment is positive. This is a great time to buy.
• 2nd Stage: As soon as Bitcoin and cryptocurrencies turn into a craze, due to big price jumps, the positive market sentiment is reaching its peak. This is the best time to sell.
• 3rd Stage: When the market is still holding on to hope, people start screaming HODL. Meanwhile, the market is continually decreasing. The market sentiment is becoming negative. At this point, either sell or hold onto your coins.
• 4th Stage: At some point, you will start seeing headlines claiming that the Bitcoin bubble has burst. People no longer believe in crypto. All hope seems to be lost. The market sentiment is negative and once again reaching its peak. This is the best time to buy.

This circle tends to repeat every single time.

So how can you keep an overview of these four stages described above?

Resources to predict market sentiment?

The answer is simple. You will need to stay on top of the news at all times while keeping in mind that the market works in cycles.

Check publications like Coindesk or NewsBTC on a daily basis while spending your free time in Reddit subgroups. You can also follow all influential crypto-personalities on Twitter or other social media channels.

But most importantly, you need to also keep mainstream news into consideration.

TV channels like CNBC have an insane 95% accuracy when it comes to counter-predicting the Bitcoin price. Every time there is positive news, it’s time to sell. Every time there is negative news it’s time to buy.

Improving your crypto mining knowledge

Cryptocurrency mining is still a profitable business. Many people start learning about the process on a daily basis. So what are the best resources to get you started?

The first article you should read before you get started is our Bitcoin mining guide. The article will help you go through your first steps and set you up for a profitable mining journey.

Once you understand the basics of Bitcoin mining, it’s time to delve a little deeper:

Useful mining guides

• Check the hashrate distribution of mining pools here.
• Click here to see all the Bitcoin blocks mined by Satoshi himself.
• Check the profitability of the miner you intend to use.
• See real-time mining statistics.
• Check the difficulty of mining new blocks.
• Finally, make sure you check out this cryptocurrency profitability calculator.

Crypto-mining energy consumption

• Check the power of the Bitcoin network, according to Cambridge University.
• Read the Bitcoin mining network report (June 2019).
• Also, check which information is actually true, through this article.

Once you have practiced mining for a while, and are ready to take things to the next level, you also build your own mining rig.

Bitcoin accounting and taxes

Bitcoin taxation can be a real headache. The majority of people don’t seem to have a clear understanding of how they should calculate and pay their taxes. In some cases, even countries seem to be indecisive.

The good thing is that the regulatory space seems to be clearing up. Presidential candidates are proposing clear regulatory frameworks for crypto. More capital is injected into crypto trading oversight.

But how can you get a better understanding of the current taxation and rules around Bitcoin in your country?

• Here is a handy guide to help you calculate your taxes if you live in the US.
• And here is an overview of BTC taxation in European countries.
• In case you still have questions, make sure you read this guide as well.

Finally, when it comes to tax accounting, there is one more resource you should consider. Jameson Lopp has created a list of taxation software and experts that can help you out with tax calculations.

Bitcoin for merchants

One more group that is looking to learn more about Bitcoin is the merchants that want to accept it as a payment method.

Bitpay’s recent partnership with POS provider Poynt comes to add to the fact that Bitcoin is breaking into the mainstream. Soon, most merchants will start to accept cryptocurrency payments, earning larger amounts of interest on their funds.

To better understand how this process works, we have collected a number of resources that you can refer to:

• This article on Cointelegraph analyses the pros and cons of accepting Bitcoin for your store. It also gives you clear steps on how to get started.
• Once you have a better understanding of how you can set things up, you can check this guide for Bitcoin payment processors and POS hardware terminals.

If you are hosting your store online, several websites like Shopify will already have Bitcoin payment options available. Simply enable the function and you should be good to go.

Closing

If you read this far, you should now have enough material to learn about cryptocurrency. In this article we provided our favorite resources on the following topics:

• Understanding Bitcoin
• Improving your Trading Skills
• Advanced Trading Skills
• Understanding the current market sentiment
• Improving your crypto mining knowledge
• Bitcoin accounting and taxes
• Bitcoin for merchants

If there is any particular chapter you need more information on or a particular resource you wish we’d add, please contact us or leave a comment.

We hope this guide acts as a map for your upcoming crypto journey. If you are ready to invest in Bitcoin or any other cryptocurrency, click here to get started.

Written by

Dimitris Tsapis