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CRYPTO TAMANGA BEGINNER'S GUIDE TO INVESTING IN CRYPTOCURRENCIES



By Noel Siame and Japhet Kapambwe Mesa
    Our experience, after founding the Crypto Tamanga community, has been that there is too much information flying around about cryptocurrencies. This can be overwhelming for newbies who are also in a hurry to amass as much information and knowledge. This can be a bit of a problem as it can lead to ill-informed investment decisions.

        In our to mitigate the information overload and mis-informed we have embarked on a beginner's guide to investing in cryptocurrencies. We hope that this gradual impartation of information will act as a hand-holding exercise for anyone looking to get into crypto investment. The series will be sumarrised and to the point.

Introduction

         When I first started taking an interest in cryptocurrency, I felt I was lost in the huge sea of unknowns. I had no one to ask questions except for virtual people, to make it worse, I didn't know anyone who was investing in cryptocurrency (crypto) locally. I thank God for the Crypto Tamanga community that has brought together people who are enthusiastic about the technology and the potential gain one can receive from investing in cryptocurrency.

The rise of cryptocurrency

        As the tech literacy of the population increases, acceptance of crypto as a legitimate store of value follows. People who were once skeptical of bitcoin and blockchain - the technology behind bitcoin, are slowly understanding and getting increasingly involved with crypto. Governments and multinational corporations are slowly accepting and investing huge resources to understand blockchain technology. It is interesting to note that the price of bitcoin and alternative coins (altcoins) may go up and down but the technology remains steady in terms of development and growing application. The blockchain will bring a paradigm shift to how we use the internet, conduct business, vote, pay bills, etc...

What are altcoins

         Believe it or not, Bitcoin is not the only cryptocurrency! There are thousands of cryptocurrency alternatives to Bitcoin available today each with unique differences, functionalities, and purposes. We call these “Altcoins”. "Altcoin" isn’t the name of a cryptocurrency, rather, the term describes any cryptocurrency other than Bitcoin. For example, Ripple, Litecoin, and Ethereum are all technically “altcoins.” With that in mind, people generally use the term to describe coins with lower market capitalizations. On most platforms they say “major alt” if they mean coins with the top market caps that aren’t Bitcoin, and they say “minor alts” to describe all other cryptos. To see the list of altcoins u can check them on www.altcoins.com and www.coinmarketcap.com

           This marks the end of the first instalment of the beginner's guide to investing in cryptocurrencies. Please leave a comment if you have any questions or send us an email at cryptotamanga@gmail.com. Til next time.

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