Before you go, check out these stories!

Hackernoon logoValuable Online Resources for Cryptocurrency Newbies by@Katalyse

Valuable Online Resources for Cryptocurrency Newbies

Author profile picture

Cryptocurrency is without doubt one of the hottest things in the world today. Everyone seems to be talking about it, from the government to billionaires and even celebrities. Bitcoin, Ethereum, Monero, Dash, Ripple, and Litecoin are just some of the popular cryptocurrencies that have been the focus of so much debate over the last few years. News about the cryptocurrency market is often always trending on social media. Even government bodies and financial institutions seem to shine a lot spotlight on the market these days.

To the newcomer, it might seem a little daunting trying to come to terms with the ins and outs of the market. However, with a few handy online resources, you can be well-versed, with a good working knowledge of the market. The following are some valuable online resources that any cryptocurrency newbie can use to become more acquainted with the world of cryptocurrencies.

1. Online Cryptocurrency Forums

There are a great many online cryptocurrency and blockchain technology forums on the internet. These discussion boards are a treasure trove of information about the different aspects of the cryptocurrency market. Users create posts and threads that detail all forms of discussion on the market. Some of these forums have been around since the dawn of the crypto era and as such, there is a lot of historical information available.

The interactive nature of these forums allows newbies to discuss with veterans in the field. You can connect with crypto hobbyists, enthusiasts, and professionals alike. Some of the big names in the crypto community today got their opportunity while networking on these online forums. Vitalik Buterin, the co-founder of Ethereum started out as a contributor on online Bitcoin discussion boards.

These platforms have a communal feel about them which makes the discussion contained within to be of a more informal nature. It is easier to get a lot of personal opinions as well as first-hand accounts of the experiences of other people in the cryptocurrency market. There are a number of such online crypto forums some of which include Bitcoin Talk, Cryptocurrency Talk, Steemit, Reddit, and Medium.

2. Market Capitalization and Price Websites

If you follow the crypto news, you will hear a lot of talk about market capitalization and the price of cryptocurrencies either rising or falling. If your interest is in the business of investing in the market, then getting to understand market cap and price movements is essential. Market capitalization is calculated by multiplying the total supply of a cryptocurrency that is available in the market by the current dollar price of the cryptocurrency. It is used as a long-term indicator of the stability of a cryptocurrency.

There are a number of websites on the internet that actively track the market cap as well as the price of different cryptocurrencies. Many of these websites also provide a number of tabs which display analysis pertaining to things like daily, weekly, and monthly trading value as well as periodic price changes (whether positive or negative). Some notable websites that provide such services include Coin Market Cap, Crypto Compare, and Coin Cap.

3. ICO Tracking Services

ICO stands for Initial Coin Offering and it is a means by which blockchain-based enterprises raise funds to develop their projects. Instead of trying to convince banks and venture capitalists to put up equity in their projects like other mainstream startups do, they take their project directly to the open market to source for funding. People invest fiat money or established cryptos like Bitcoin and Ether into these ICOs and get cryptocurrency tokens in exchange.

ICOs have become extremely popular since last year when a number of campaigns raised hundreds of millions of dollars. Every day, there seems to be a new ICO campaign being carried out promising some new intuitive application of blockchain technology.

There are websites that specialize in tracking and analyzing these ICOs. Many of them also list upcoming ICOs and pre-ICO campaigns. With the issue of scam ICOs that have no economic merit, some of these services even go the extra mile to list suspicious and outright scam ICOs. The following are some of these ICO tracking websites: ICO Market Data, Smith + Crown, and ICO Tracker.

4. News Platforms

With so much going on in the industry, staying up to date is essential. Cryptocurrency is a global phenomenon that is disrupting the business process on an unprecedented scale. All around the world, there are news stories breaking every day. By religiously following the crypto news, a newbie can become well informed about the market.

Many of these news websites have notification services that send alerts to emails and mobile phones when there is a news story. So even when on the go, you can still remain reliably informed on all that is happening in the market. It is customary for these services to include useful links in their news stories. This enables the reader to learn more about a particular piece of information.

There are a whole host of cryptocurrency news platforms, some of them include CoinDesk, CCN, Cointelegraph, Cryptocurrency News, CoinBuzz, The Merkle, Cryptosomniac, and CoinFox just to mention a few.

5. Social Media

Finally, social media plays a vital part in the cryptocurrency revolution. Many trending discussions on social media platforms are usually on cryptocurrency. These aforementioned services have social media accounts that you can follow to stay up to date with what is going on in the market.

Apart from these website platforms, there are also cryptocurrency personalities themselves who regularly post on Twitter. Famous crypto founders, CEOs, developers, analysts, and critics tweet about their views and opinions on a diverse range of subjects that affect the market. These personalities are usually known as influencers. Some of the notable crypto personalities that are well worth a following on Twitter include Vitalik Buterin(Ethereum co-founder), Roger Ver (serial crypto investor), Charlie Lee(Litecoin creator), and Barry Silbert (CEO of DCG) just to mention a few.

As a newbie in any venture, getting accurate information is an important ingredient necessary for gaining any kind of understanding of that venture. The crypto market is no different and there are a lot of online resources that help you to make sense of how cryptocurrencies work.

Keen to find out more about FundYourselfNow? Join our crowdfunding revolution conversation on our Telegram group, or follow us on Twitter.


Join Hacker Noon

Create your free account to unlock your custom reading experience.