Bitcoin

CryptoWales is here to help you learn about the fastest growing and most recent global technological innovation: Bitcoin, blockchain and cryptocurrencies.

Hopefully you have heard of Bitcoin and want to learn more so you have come to the right place.

With Bitcoin having been created in 2009 you may think that you are late to the party, but you are not, it has not even started yet.

The best part is that you can learn about Bitcoin now, you do not even need to buy any, so this will cost you nothing.  The information you learn however, could change your life.

Why We Need Bitcoin

The most obvious reason people buy crypto at the moment is for speculation purposes and the hope of improving their life through financial gains. Often this is the beginning of their journey down the ‘rabbit hole’ of crypto with the result being:

“I came for the money, but stayed for the technology (& money)”

This is not ideal though, at CryptoWales we recommend educating yourself on the technology first over a decent period of time to gain a better understanding of the implications of its success to sink in. You will then be in a better position to decide if investing is for you.

Some of the unique properties of Bitcoin:

Decentralised – no single entity controls Bitcoin, it is governed by its open source code
Quick transactions – worldwide transactions in minutes without borders
Deflationary – the exact opposite of the FIAT currencies we use
No need for ID to start – banking for the unbanked around the world
Irreversible and immutable transactions – no one can stop you
Peer to peer – no need to rely on banks and middlemen taking their fees

The biggest aim of Bitcoin and crypto in general is to replace the existing FIAT currency and central bank system as many believe it to be broken. The benefits of moving from unsound monetary systems controlled by Governments and bankers to sound hard money controlled by normal market forces (you & me) has the potential to be world changing.

The most important change that crypto could deliver us is a worldwide decentralised digital currency, ideally Bitcoin.

“I think that the internet is going to be one of the major forces for reducing the role of government. The one thing that’s missing, but that will soon be developed, is a reliable e-cash, a method whereby on the internet you can transfer funds from A to B, without A knowing B or B knowing A. The way I can take a $20 bill, hand it over to you, and then there’s no record of where it came from.”

Milton Friedman, 1999 – Nobel prize winning economist

How To Start

So you have decided you want to learn more about this exciting new technology and hopefully want to know what to do next.

Start with the basics and learn about:

Bitcoin
Blockchain
Wallets
Mining
Altcoins
Culture
Language

Learn the basics and then check out our Research section to start getting a deeper understanding by which time you will be addicted to learning more!

But hold on now, don’t go rushing off.  Most importantly you need to check out our Scams page to make yourself aware of the many techniques used to try and steal your crypto.

If you get to the stage where you have decided you are interested in investing in crypto and have done a lot of research then check out the information in our How To Buy Crypto section.

Need Help?

One of the unique qualities of the crypto community is that you can get so much help online with free resources and can even reach out and speak to the experts in crypto. There is so much to learn and crypto is constantly evolving and everyday you can learn something new.

CryptoWales is here to help you if you have any questions, just reach out to us and remember: the only stupid question is the one you did not ask.

We are always learning, everyday and this site will be a place to share those lessons and knowledge and encourage you to share your knowledge with us.

If there is further info you think is required on the site then please let us know, we love contributors.