Cryptocurrency Courses

Most people tend to associate cryptocurrency with complete anonymity. In its earlier days, the general notion was that cryptocurrencies like Bitcoin offered a lucrative opportunity for criminals to commit fraud. People also thought governments, banks, and other law enforcement authorities could never track crypto transactions, making the entire process a hush-hush affair.

Although blockchain-based crypto transactions provide privacy and invisibility, they are not entirely anonymous. Instead, they are pseudonymous.

In other words, authorities can use the crypto wallet addresses of the sender and receiver to document a blockchain transaction. The data associated with each transaction is traceable and can make your financial history public since anyone on the network can access the transaction details.

With KYC measures becoming mandatory for all crypto firms, it is no longer possible for crypto users to keep their identities completely private from central authorities. As part of measures to curb money laundering, almost all crypto firms must carry out identity and background checks on their clients before permitting them to use its platform or services.
However, KYC mandates do not apply to decentralized exchanges (DEXs). These blockchain-based apps leverage smart contracts to facilitate direct trading between users. In other words, DEXs coordinate crypto trading through automated algorithms instead of acting as intermediaries between buyers and sellers.

A Crypto address is like a pseudonym ensuring that you do not have to divulge your identity. On the other hand, it is practicable to trace the wallet address to its owner since KYC is necessary for most crypto exchanges.

Traditional currencies work as a store of value, serve as a unit of exchange in an economy, and are issued by a central authority such as the government or a financial institution. They have six key attributes: divisibility, limited supply, durability, portability, acceptability, and resistance to counterfeiting. These qualities justify their widespread value and use in the economy and ensure the currencies are safe.

Although the meaning of value attached to a currency has changed over time, a discussion around the worth of digital currencies boils down to their nature. Crypto’s decentralization poses benefits that traditional government-backed currencies don’t. For instance, crypto is less likely to feel the impacts of political disturbances, government intervention, and inflation. Yet, you can use crypto as a currency the same way as fiat money like the US dollar.

Cryptocurrencies like Bitcoin share some attributes of the fiat currency system, such as scarcity. Plus, it is nearly impossible to counterfeit bitcoin, considering how blockchains work. However, the actual value of cryptocurrency lies in its increasing demand and finite supply. Most cryptocurrencies have limited supply, so their prices continue to rise. Hence, the worth of cryptocurrency increases as more and more people clamor to get a piece of the pie.

Investing and trading are the two primary approaches to making wealth from the crypto market. If you are new to cryptocurrency, you might find that the two are pretty similar. Although investing and trading are closely related, they are quite different, and understanding the primary differences is as crucial as learning the crypto fundamentals. Each method has different strategies and yields results accordingly.

Let’s look at the key differences between cryptocurrency trading and investing to help you decide which technique suits you better:

• Meaning - Cryptocurrency investing is a strategy that involves buying and holding crypto assets over prolonged periods assuming appreciated value in the future. On the contrary, trading in cryptocurrency means speculating the price movement of individual cryptocurrencies against another crypto or the dollar

• Time frame - While cryptocurrency investing is typically a long-term strategy (months to years), crypto trading is a short-term affair (a few days). Investors generally buy crypto assets based on their long-term potential, hoping to sell at a profit in the future. On the contrary, trading leverages the cryptocurrency market's high volatility.

• Capital growth - Another significant difference between crypto investing and trading is the capital growth you get from each. Since investing is a long-term strategy, your profits are significantly higher. However, the capital growth from crypto trading is relatively less, yielding lower profits.

• Trade analysis - Traders and investors identify profitable trade/investment opportunities by analyzing historical trends and other factors. On the one hand, crypto investors bank on fundamental analysis to establish the long-term potential of a crypto asset. On the other hand, crypto traders typically use technical analysis to predict price directions and market positioning.

• Risk - Risk appetite is another crucial difference between crypto investors and traders. Cryptocurrency investors are generally risk-averse and prefer leaving their investment in the hope of reaping profits in the future. On the other hand, cryptocurrency traders typically have higher risk appetites and are more comfortable tapping the high volatility of short-term crypto prices.

• Trade frequency - The longer the investment period, the lower the trade frequency. Thus, cryptocurrency investors generally have low trading frequency since they hold on to their assets for a prolonged period to achieve investment goals. However, cryptocurrency traders trade more frequently since they consistently monitor market price movements to spot profitable opportunities.

Cryptocurrency investing and trading are two different approaches to making money. Determining which is better depends on your financial goals and risk appetite. Investing in cryptocurrency may be your best call if you prefer a laid-back, easy-going approach. If you take risks and have the time to keep a lookout on the market constantly, then crypto trading could work perfectly well for you.

The regulatory environment around bitcoin varies across countries. For instance, the IRS mandates US taxpayers to declare virtual currency transactions. In India, cryptocurrency is not explicitly illegal. The fate of the crypto industry in India hangs in limbo with no clear documentation on its regulation and legality. However, the government has made it quite discreet that cryptocurrencies like Ethereum or Bitcoin will never become legal in India.

Moreover, government announcements have stated that the Reserve Bank of India (RBI) will introduce the nation’s own central bank digital currency (CBDC) while charging a 30% tax on crypto income.

A 2020 survey by HSB shows that about one-third of small and medium-sized businesses in the US accept cryptocurrency as payment for goods and services. The fraction comprises 36% of the businesses, while 59% purchase digital currency for their own use.

Given below is a list of some of the most popular companies today that accept Bitcoin payments:

• Microsoft
• Wikipedia
• AT&T
• KFC (Canada)
• Burger King (Venezuela)
• Subway
• Overstock
• Pizza Hut (Venezuela)
• Twitch
• PayPal
• Starbucks
• Virgin Galactic
• Norwegian Air
• Miami Dolphins and more.

Are you looking to buy (and sell) cryptocurrency but not sure where to start? Your search ends here as we will walk you through eight simple steps to begin your crypto journey.

Step 1: Decide the platform/service you want to use

Crypto exchanges and crypto brokerages are the two most common platforms where you can buy crypto. A crypto exchange is much like a traditional stock market, but users can buy and sell cryptocurrencies instead of stocks. On the other hand, a crypto brokerage acts as an intermediary between the cryptocurrency markets and users to facilitate the purchase and selling of cryptocurrencies. In the latter, users trade with each other not based on current market prices but on the price the broker sets. Crypto exchanges are the more popular of the two.

Step 2: Set up an account

Once you have decided on the platform (we are focusing on crypto exchanges), you need to set up an account. It is common practice for most crypto exchanges to complete a verification process for which you may need to provide personal information such as a copy of your passport or driver’s license. You can opt for a decentralized exchange if you do not want to share your personal information.

Step 3: Put money into your account

Crypto isn’t free; you need to fund your account using traditional money to purchase crypto. You have various options to put money into your account, the most convenient being linking your crypto and bank account. The bank account verification process can be lengthy, but it will make deposits and withdrawals easier and let you buy and sell directly through your account. Other funding options include wire transfers and making payments through debit or credit cards.

Step 4: Make a crypto purchase

Once your account is ready with funds, you can purchase your first crypto. For this, you need to place your crypto order. In other words, you must create a ticket with a specific purchase amount and send it off for fulfillment. Once you place a purchase order, it executes at the current best market price. Depending on your transaction, the exchange will also charge a fee.

Step 5: Store crypto

Now that you have purchased your first crypto, you need to decide whether you want to swap, buy, or simply store the crypto. Hot and cold wallets are the two most common ways to store crypto. While both are crypto wallets, the hot wallet stores information online, whereas the cold wallet stores information offline. Hot wallets are software you can connect to devices such as phones and computers, simplifying buying and selling. However, cold (hardware) wallets are a more advanced and secure way to store crypto.

Step 6: Choose how you want to sell cryptocurrency

You can sell cryptocurrency in several ways, including cryptocurrency exchanges, Bitcoin ATMs, brokerages, peer-to-peer exchanges, or face-to-face transactions. In addition, you need to strategize how you want to sell cryptocurrency. You may either trade regularly or go for investment for potential growth in the future. It is equally crucial to determine the type of cryptocurrency you want, how much to buy, when to buy, and when to sell.

Step 7: Complete the transaction

Once you are ready with a selling strategy, use your private key to transfer the cryptocurrency to the buyer. You may need to pay an additional network fee for the transaction to be completed and included in the blockchain.

Step 8: Transfer the funds to your account

After selling the crypto, you can buy more crypto or transfer the funds to your bank account if you have linked it to your digital wallet. You can choose the fund amount you wish to withdraw or transfer the money to your debit card. Alternatively, you can exchange your crypto for cash through brokers, exchanges, or third parties like Bitcoin ATMs.

Owning cryptocurrency means you must consider storing it and ensuring it is safe and secure. Unlike physical money that gets protection in bank accounts, crypto storage is starkly different and the complete responsibility of the owner.

Mentioned below is an overview of some of the most common crypto storage methods to help you choose the one that suits you best:

1. Cold wallet

A cold wallet or hardware wallet stores crypto offline using small devices that connect to your computer (and the internet) only when receiving and sending cryptocurrency while keeping your funds offline at other times. Cold wallets store the user’s private keys and typically come with software enabling the user to view their portfolio without risking their private keys.

Benefit: Provides the highest level of security

Drawback: Inconvenient and costly

2. Hot wallet

Unlike cold wallets, hot wallets store cryptocurrencies online and require an internet-connected device like a computer or smartphone to run. They can be web-based or in the form of mobile and desktop apps. Hot wallets are easy to use, usually free, and give owners significant control over their funds. However, hot wallets are not as secure and most suited for small amounts of crypto.

Benefit: Ease of use and convenience

Drawback: Security risks

3. Custodial wallet

In a custodial wallet, a third-party stores your crypto for you. It could be a cold wallet, a hot wallet, or a combination of both. It is generally the default crypto storage method since when you buy crypto from brokers, exchanges, or apps, they typically put it in a custodial wallet under their control. Some crypto platforms even let you transfer crypto to your personal hot or cold wallet.

Benefit: Convenient and effortless

Drawback: Third-party control over crypto

4. Physical (paper) wallet

A physical crypto wallet or paper wallet is a type of cold storage. It typically comes as a printout of public or private keys, scannable QR codes, and a string of characters. When using a paper wallet, you receive crypto using the public keys. Likewise, you scan the public and private keys to send crypto from your wallet. Like hardware wallets, paper wallets keep your crypto offline.

Benefit: Free and highly secure

Drawback: Inconvenient

Overall, you can keep the following points in mind to ensure that your crypto is in safe and secure storage:

• Use a hot wallet to store small amounts of crypto, especially if you want funds available for trading.
• Cold wallets are the most secure and ideal for bulk storage of crypto.
• Crypto wallets come with a recovery phrase that lets users recover their crypto if they lose the hardware device or access to the wallet.
• Keep the recovery phrase confidential so that only you can access it.
• Never save your private keys and recovery phrase to your computer or share them with anyone.

Like any other online course, online cryptocurrency training courses offer significant advantages over offline ones. If you’re torn between choosing online crypto classes or traditional classroom programs, here are some perks of an online crypto course to consider:

• Convenience: You can take online cryptocurrency classes online from the comfort of your home or wherever it is convenient for you.

• Flexibility: One can learn at their desired pace and schedule with easy access to lectures and study materials anytime.

• Cost-effective: Online courses for cryptocurrency are relatively cheaper than offline programs. You can even get free online cryptocurrency courses.

• Mentorship sessions: The best crypto courses online offer one-on-one mentorship sessions and comprehensive career assistance, features that are often absent in offline programs.

• Global exposure: Online courses on cryptocurrency often partner with globally reputed companies so that students get the flavour of real-life, industry-focused projects.

Networking opportunities: Students and professionals worldwide can access online courses on cryptocurrency, allowing you to interact and network with diverse minds and talents.

Although the syllabus for crypto courses may vary with the platform, the general content should include the following concepts:

• Introduction to cryptography and cryptocurrencies
• Bitcoin protocols
• Applications of Bitcoin and security
• Bitcoin mining mechanics
• Bitcoin mining strategy
• Anonymity, traceability, and mixing
• Privacy-enhancing and zero-knowledge cryptocurrencies
• Overview of altcoins and Ethereum
• Programming smart contracts on Ethereum
• Legal aspects of virtual currency
• Applications of cryptocurrencies and blockchains in the real world

According to Vantage Market Research, the global cryptocurrency market had a valuation of USD 1,542.9 million in 2021 and is projected to reach USD 2,302.5 million by 2028. The market is predicted to grow at a CAGR of 6.9% during the forecast period 2022-2028. North America and the Asia Pacific are the most prominent players in the sector. While North America dominates the global cryptocurrency market with a market share of 41.3%, the Asia Pacific is one of the fastest-growing regions in the crypto segment.

The increasing adoption rate of cryptocurrencies among businesses and customers is one of the primary reasons for the booming industry. Several key players in the global cryptocurrency market include Xilinx (USA), Bitmain (China), Intel (USA), NVIDIA (USA), Ethereum Foundation (Switzerland), Binance Holdings (China), and Bitfury Group (Netherlands), to name a few.

Considering the far-fetched potential of blockchain, renowned online platforms and premier institutes in India are experiencing a spike in demand for blockchain courses. The emerging crypto industry has also created numerous job opportunities for those skilled and experienced in blockchain technology. Furthermore, the need for blockchain professionals is high across industries, including banking and legal. Although it remains to be observed how the regulatory environment around the crypto industry in India will transform in the future, career opportunities in the field are worth exploring for students and professionals.

The average annual estimated salary of a Blockchain Developer in India is Rs. 6.7 LPA. However, as of now, there is no job title called ‘Cryptocurrency Specialist’ in India.

Factors on Which Cryptocurrency Specialist Salary in India Depends

Blockchain Developer salary in India primarily depends on the experience and skills of the applicant. Salaries may also vary with the employer/company.