It’s been a CRAZY yeah in the cryptocurrency market, some lucky investors have 10x their initial investments in digital currencies such as Bitcoin. But many others have lost money by trying to follow the herd.
If you want to invest in this exciting space and join the former group as opposed to the latter, the Crypto Currency Codex is just what you need to get started.
The Crypto Currency Codex is an ebook written by two active crypto traders: Nate Martin and Pat Kendrick. It contains everything novices need to learn before seriously investing in cryptocurrency, including the underlying blockchain technology, how digital tokens are purchased and traded, how they are stored, and practical investment tips to get the highest possible ROI on your investment.
The book is the first product of The Cryptocurrency Institute, attaching a reputable organization to the teachings it espouses.
Plenty of other products make claims comparable to the above but turn out to be scams. Crypto is a relatively new industry that most people lack a strong knowledge of, unfortunately setting many up for disappointment. Thankfully, this Crypto Currency Codex Review is here to assuage your fears.
The book is seven chapters and 152 pages long, containing a lot of practical information that you can use to immediately become an expert. If you don’t want to read this entire review, we’ll spoil the ending now by saying that it is an excellent investment for those looking to get into cryptocurrency.
This does not mean that the book is perfect. While most of the illustrations are helpful, some of them seem to be present only to inflate the page count. The information provided on digital tokens other than Bitcoin feels limited at times. It also doesn’t offer much to expert crypto traders, limiting its target audience to beginners.
Still, these are relatively mild criticisms. Beginners are the audience that most needs a book like this, and it is written in a very engaging manner that will keep you reading on a subject that may otherwise come off as dry.
Every chapter builds upon what you learned in the last one, ensuring that you never get lost in a bunch of undecipherable technical jargon. Even the attention spent on Bitcoin makes sense when you consider that it was the first crypto to hit the market. Other coins are commonly discussed in relation to Bitcoin, making the entire industry tough to follow without a strong foundation in it.
If you still have any lingering suspicions that the Crypto Currency Codex may be a scam, this next section should erase them. We are going to go chapter by chapter to explain the benefits of each, a detailed look that no scam could possibly pass. Let’s get started!
Chapter 1: The Basics
The introductory chapter provides a foundation in the history of cryptocurrencies and how their underlying blockchain technology operates. Initially, this may seem like useless information for somebody interested in investing in them as opposed to writing a research paper on the topic. However, it is actually vital to comprehend the advantages digital currencies have over more traditional fiat currencies in order to understand why and how they will eventually revolutionize global trade and explode in value. By the end of this chapter, you will have all of the background information needed to move on.
Chapter 2: The Fundamentals Of Cryptocurrency
This chapter provides useful information on how specific cryptocurrencies work. You’ll learn about how different types of wallets work, the difference between private and public keys, and an overview of the overall crypto ecosystem. There’s also a really good comparison between Bitcoin and Ethereum that not only points out the key differences between them but also demonstrates how most digital currencies are compared to Bitcoin in order to determine their potential value.
Chapter 3: The Government Vs. Cryptocurrency
One of the key advantages of cryptocurrency is its decentralized nature. There are no governments or other regulatory bodies with the power to artificially influence its value, ensuring that the community gets to dictate its worth.
This is starting to change in recent months, as Bitcoin’s price jump forced the world’s governments to take notice. This chapter highlights the United States Government’s official position on cryptocurrency, prospects for future regulations and controls it may be subjected to, and the tax implications of investing in the space. Your legal responsibilities as a crypto investor are also detailed in this chapter.
Chapter 4: How To Invest In Cryptocurrency
This chapter contains the secret sauce you have probably been waiting for: how to go about actually exchanging dollars, euros, or any other traditional currency for Bitcoin, Ethereum, or any other crypto token. The explanation provided is extremely thorough, so you should have no problem completing your first transactions after reading it.
Your transactions will be handled by something called an exchange, of which there are many to choose from. This chapter also provides all of the information you need to select the right one, even if you live outside of the United States! They also provide valuable advice on picking multiple exchanges to avoid keeping all of your proverbial eggs in one basket, a lesson that most crypto traders have to learn the hard way.
As if that wasn’t enough, Chapter 4 also lays out the pros and cons of every wallet you can use to store the cryptocurrency you purchase. Wallets are actually a fairly technical topic with both hardware and software options available, so this information is very valuable. One of our favorite passages in the entire ebook mentions how Bitcoin in the right wallet can earn interest like cash in a bank account while simultaneously being on hand to pay for a cup of Joe at a coffee shop. It’s tough to beat that kind of freedom!
Finally, information is provided on how to avoid the common scams that sadly continue to plague the cryptocurrency industry.
Chapter 5: Initial Coin Offerings (ICOs)
Many blockchain-based technology companies have taken to Initial Coin Offerings, or ICOs, as an alternative method of generating the capital they need to launch a startup business. These new tokens are brand new entrants in the crypto marketplace with all of the potential in the world to either make you rich or cause your initial investment to disappear.
All of the details are explained in the Crypto Currency Codex, as well as why the United States Securities and Exchange Commission (SEC) is trying to crack down on them. The potential ICOs offer as investments cannot be ignored, but the book smartly advises diversifying your portfolio so that you are not too exposed if a promising token goes under.
Experienced Forex traders will also love this chapter because it details how you can make up to 10 times more trading in cryptocurrencies than you could working with more traditional monies.
Chapter 6: Trading Crypto and Advanced Strategies
This chapter will be of primary interest to anybody interested in margin or leverage trading in cryptocurrencies. Advice is provided on keeping your transaction fees as low as possible, vital information if you want this to be your day job.
Altcoins (a catch-all term encompassing all cryptocurrencies except Bitcoin) generally require their own trading strategy, and this chapter teaches you everything you need to know. There is also a step-by-step guide on how to get started, ensuring that the entire process is idiot-proof.
Chapter 7: Mining For Digital Gold
It is possible to acquire cryptocurrency without spending a cent through a process called mining, an offshoot of blockchain technology that this chapter explicates in detail. The basic idea is that you use some of your home computer’s extra processing power to generate cryptocurrency, although you only get minuscule amounts at a time. The Codex actually allows you to compare your potential mining revenues with the cost of the electricity you have to use to do it, enabling you to make an informed decision on whether mining is for you.
Most of the information in this chapter is centered on Bitcoin, but altcoins are mentioned toward the end as a potentially worthwhile pursuit.
Chapter 8: Tip Roundup
Above we said that there are only seven chapters, and we were right: Chapter 8 summarizes the previous seven chapters rather than add anything new. It’s an extremely convenient summary of the entire Crypto Currency Codex, making it the perfect study guide when you want to review something. It also has all of the most important links in one location, allowing you to find anything you need without searching the whole book for it.
A lot of products offer free bonuses to enhance the value they provide, and the Crypto Currency Codex is no exception. First, you get access to the Ask Me Anything Private Facebook Group that allows experienced crypto traders to answer any questions you have in real time. The extras provided with most training courses fail to provide anything of actual value, but we actually found this Facebook group quite helpful.
You also get supplementary video courses that serve as companions to the information contained in the Codex. The Cryptocurrency Trading Crusher Video Course, Mining Mastery Video Course, and Storage Secrets Video Course are all fairly self-explanatory in what they offer.
Finally, the entire system is regularly updated at no additional charge to you. It seems like this should be a given, but there are programs out there that expect you to pay more for the latest information.
Is The Crypto Currency Codex Worth The Purchase?
The pluses of the Crypto Currency Codex are many. It is laid out extraordinarily well, and the pacing is ideal for a target audience without much experience in the space. The authors are both knowledgeable in the field and engaging writers, so learning from them never feels like a chore.
The downsides are relatively minor by comparison. Chapters 5 and 8 have a few clunky [Edit] notes that a solid proof reader could have avoided, and the page formatting is awkward at times. At just $47, these minor gripes are a poor reason to avoid purchasing the Codex.
If you still doubt that cryptocurrency is the future, consider all of the fuss governments are currently going through to regulate and tax them. It might not feel tactile in your hand the way paper money does, but paper money is just useless slips of paper if the government says it is. Parents and kids alike should read this book and discover where the world is headed in the next 10-20 years.