Beginner's guide


CRYPTOCURRENCY IS A GENERAL NAME REFERRING TO ALL ENCRYPTED DECENTRALIZED DIGITAL CURRENCY. THE TECHNOLOGY IS GENERALLY OPEN-SOURCE. THIS MEANS ANYONE CAN COPY AND/OR CREATE THEIR OWN. EXCEPT CHANGE AN EXISTING ONE. THIS IS THE ENCRYPTED PART, WHERE EVERY ACTION TAKEN IN THE PROGRAM (OR BLOCKCHAIN) FOR EACH CURRENCY, IS LOGGED IN IT'S LEDGER AND IS PROGRAMMED SO THAT IT CANNOT BE ALTERED LATER. WHEN WRITING INTO THE LEDGER THE PROGRAM FIRST CHECKS THE REST OF THE LEDGER FOR IF WHAT YOU ARE TRYING TO DO IS ALLOWED. THESE WILL BE LOGGED AS CONFIRMATIONS. MEANING; THE INFORMATION IS ACCEPTED BY THE LEDGER BECAUSE IT CONFIRMED THE INFORMATION FIRST CAME FROM THE LEDGER.

EVERY CRYPTOCURRENCY IS DIFFERENT. FOR THE EVERYDAY USER THE DIFFERENCE IS ONLY NOTICEABLE BY THE TYPE OF WALLET THEY INSTALL AND THE ADDRESS STRUCTURE. FOR EXAMPLE EVERY ETHEREUM ADDRESS STARTS WITH '0X' AND EVERY LITECOIN ADDRESS WITH AN 'L'.

Wallet

You will need a wallet for your coins. This is software that interacts with the blockchain of your chosen coin. This software usually does everything for you, including the safekeeping of your private keys.
Your wallet will always have two keys. A private key you need to authorize sending of your coins, and a public key you need to receive your coins.
The public key is in fact your wallet address other may send coins to.
Online wallets keep your private keys for themselves and let you just work with them. So, if you keep your coins with a online wallet or website, you in fact do not really own the coins. Only the person or program in charge of the private key for any public key (wallet address) is.

SAFETY IN THE CRYPTOCURRENCY WORLD IS KEY. THE ONLY REAL SAFETY FEATURE YOU SHOULD ALWAYS KEEP IN MIND IS TO NEVER SHARE YOUR PRIVATE KEYS AND PASSWORDS. WHEN AVAILABLE USE 2FA FEATURES.

IF YOU ARE EVER ASKED FOR YOUR PRIVATE KEY TO A WALLET, FOR WHATEVER REASON, YOU REALLY SHOULD first research said website or service. IT IS QUITE COMMON FOR SCAMMERS TO DISGUISE THEMSELVES AS SOME SORT OF ADMIN FROM SOME WALLET PROVIDER, AND MIGHT ASK YOU FOR A PRIVATE KEY, WITH SOME EXCUSE THAT MIGHT SOUND BELIEVABLE.

THE SAFEST COURSE OF ACTION FOR ANY COIN IS TO HAVE YOUR PRIVATE KEYS WRITTEN DOWN ON A PIECE OF PAPER AND KEEPING IT SECURE. ALTERNATIVELY KEEPING IT ALL ON A USB DRIVE IN A TXT FILE. THIS WILL ENSURE YOU HAVE FULL CONTROL AND ARE NOT DEPENDENT ON SOME ONLINE SERVICE TO KEEP THINGS SAVE FOR YOU.



Claiming free Cryptocurrency

In short claiming cryptocurrency these days involve either watching ads or letting your device work via some mining script.
Watching ads will take the most time and effort on your part but using a mining service will mess up your device as it uses up most of its recources and might eventually break your device by over usage.

Claiming from faucets (viewing ads) is pretty simple. In most cases you enter your wallet address, fill out a captcha and claim. You do this while there are several ads showing or popping up. Some websites, like this one, requires you to sign up first for various reasons. Security against self claiming bots and scripts is the main reason for this.

Now every claim is not worth very much. And you will need to repeat the process several times before you have made enough it is worth to send the final amount to your actual address.
For that reason microwallet services like faucethub (that this website also uses) work great. they provide many sources to claim and add up so you may withdraw all the quicker.