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Breaking Down Cryptocurrency Terms Part II

If you have not read our first article on cryptocurrency terms, click here to find out more about everything from fiats, to forks. These articles are designed to further your understanding of the new language that is developing around the rapidly expanding world of cryptocurrency. The better you’re informed, the smarter your decisions will be when it comes to analysing movements in the market. We have put together 8 more terms that will be useful to anyone looking to get clued up on the latest terms.

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The Future of Bitcoin: What to expect

At the beginning of 2017 the top two cryptocurrencies bitcoin (BTC) and Ethereum (ETH) were valued at $963.06 and $8.26 respectively. Throughout 2017 bitcoin gained in value, ultimately reaching an all time high of approximately $19,500 on the 18th of December 2017. Ethereum reached an all time high of approximately $1,400 on the 14th of January 2018. This meant that the early adopters of cryptocurrencies had a good year with incredible returns on their initial investment.

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How To Convert Cryptocurrencies With Coindirect

Coindirect has now launched a dedicated Exchange page where converting between your Coindirect wallets is a straight-forward and instant process. If you want to shift digital currency between any of your wallets without hassle or waiting periods, you’ll know where to go. The exchange works anytime of day, with any of the 35 digital currencies, in any of the 21 countries currently supported by Coindirect.

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How to start a business as a Coindirect Cryptocurrency Vendor

Making a career out of cryptocurrency can now be a reality, as you can become a full-time Trade Vendor on Coindirect. You’ll be your own boss by setting your own prices, working your own hours and creating your own Offers on the peer-to-peer marketplace. Being a Trade Vendor on Coindirect is different to simply buying or selling altcoins on the platform, as Vendors are able to fully customise their own sell and buy Offers. If you’re interested in becoming a Vendor we have 7 steps to get you going.

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How to Sell Bitcoin using Coindirect

Turning cryptocurrencies you own back into your preferred fiat currency is a crucial service that helps keep the cryptocurrency market functional. Luckily, selling your bitcoin is a straightforward process with Coindirect. In fact, any of our 35 cryptocurrencies on the platform can be sold after they are converted into bitcoin using the ‘Transfer’ function in our ‘Wallets’ tab.

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Breaking Down Cryptocurrency Terminology

With the rapidly expanding world of cryptocurrency, comes a whole new library of new terminology to help define it. The more you know, the better equipped you’ll be to understand all the exciting new developments happening in the industry. Hopefully by the time you’ve finished reading this article, you’ll be fluent in crypto-speak.

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Coin Profile: Bitcoin (BTC)

Bitcoin btc

Let’s start off with the basics. ‘Bit’ refers to a small fragment of digital information, and ‘coin’ refers to the representation of money. Bitcoin was originally introduced in January 2009 and is credited as the first decentralised digital currency to use blockchain technology. Collectively, bitcoin refers to both the particular payment protocol that utilises an electronically distributed ledger (blockchain), and the digital currency that can traded using said protocol.

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