The two default way to get cryptocurrency is to mine and to buy from miners. After reading the three chapters, you should be familiar in buying cryptocurrency coins. However, you may chose not to buy for various of reasons such as afraid of the loss, still not comfortable with cryptocurrency, or you just do not have a penny to spare. This chapter presents other methods of getting cryptocurrency mostly free but also mostly not much amount.
Table of Content
- Using Crypto Powered Products
- Crypto Powered Browsers
- Crypto Powered Search Engine
- Crypto Powered Social Media Platform
- Crypto Powered Blogging Platform
- Crypto Powered Multimedia Platform
- Crypto Powered Gaming Platform
- Earn Cryptocurrencies
- Common Tasks
- Content Creation
- Referrals or Affiliate Marketings
- Content Creation + Online Referral
- Almost Free Coins
Using Crypto Powered Products
The best way for starters to get cryptocurrency coins is to try using crypto powered products. It is a good introduction for starters to see what innovations are being developed in the crypto world. While current services such as Google and Facebook keeps profit for themselves, most crypto powered products shares their profit with the users where most of their concept are products are useless without you customers. Even if they do not have profit yet, they can share to you the coins first and add value to them later.
Crypto Powered Browsers
I will take a guess that most of you who are here are Internet literate where you use browsers most of the time. Time to change your browser. Use a cryto powered browser. Disclaimer, most of them are not necessarily decentralized but they give you crypto tokens for using them and they provide extra functions related to cryptocurrency.
The most popular one today is Brave browser, available on most operating systems which are Windows, Linux, MacOS, Android, and IOS. Brave browser changes how online advertisements are presented. From their study that many unwanted advertisements and trackers annoys online user's experience. Not only they contribute to heavy data usage but also getting your personal information for free and without your consent and even worse some of them are malicious. Download and install through this link: https://brave.com/faj934.
Brave browser returns the power to you, where you decide whether you want to see advertisements or not and if you choose to see an advertisement verified by Brave you will be rewarded with Basic Attention Token (BAT). From user's perspective a random notification will pop up informing you that there is an advertisement. You can choose to click and see for the reward or ignore. The BAT reward either can be kept for yourself or be tipped to the owner of the website.
Netbox browser is said to be decentralized browser where you are rewarded with Netbox (NBX) for using it. The browser have basic Netbox wallet functionality such as send, receive, and backup keys. The most interesting function for me now is the staking function where you can lock your earned NBX to receive more NBX rewards. Unfortunately, it is only available on Windows operating system. Download Netbox browser through this link: https://netbox.global/r/publish0x
Bittube is my favorite because you do not need to use the browser but you can install the extension on your existing browsers. For example, in Windows, I use Netbox browser with Bittube extension earning NBX and TUBE reward at the same time, and in Linux, I use Brave Browser with Bittube extension earning BAT and TUBE reward at the same time. They called the service airtime which rewards you in Bittube coin (TUBE) for the time you spend browsing while using Bittube extension. Download Bittube through this link: https://bittube.app/?ref?2JY4FE0CP.
Other than the similar adblocker function in Brave browser, Bittube provides a very interesting feature for me which is monetization where if anyone especially with Bittube extension installed visits my website, blogs, social media, and other platform, I will be rewarded with TUBE. Other than that, it is originally a video platform like Youtube which is good for me as a content creator. Therefore, I invested in TUBE by staking up to the highest level to get maximum reward.
This browser is a fork of Chrome with CPU Bitcoin mining installed. All you have to do is download, install, and press the mining button to start mining. This simplicity is good for starters who either do not want to buy Bitcoin or want to try mining experience but do not want to go through the technicallity. Though it can take days to earn even a Dollar worth of Bitcoin but in roughly two days you will earn enough pennies to withdraw to your wallet. Disclaimer, it technically does not mine Bitcoin but altcoins which will be converted to Bitcoin. Download using this link https://cryptotabbrowser.com/2016839 which are available on Windows, MacOS, Android, and IOS.
Crypto Powered Search Engine
Presearch is an open and decentralized search engine that rewards you with Presearch Tokens (PRE) for your usage, contribution, and promotion. Presearch is on the way to release future versions of the open source platform that will utilize a blockchain-based index curated by the community. These are descriptions from their website and register first using this link https://www.presearch.org/signup?rid=1830117 before you can earn.
Crypto Powered Social Media Platform
Torum is a social media platform that rewards users' engagement in Xtorum (XTM). The interface design is similar to Facebook giving familiarity to new users. Currently it is still in beta phase and will move to decentralization in the future. Therefore at the time of writing of this chapter, you can only join through invitation link https://www.torum.com/signup?referral_code=0fajarpurnama0. As for me, I am waiting for their smartphone application to come out and at least a mobile friendly website. Different from most crypto powered social media platform, the token reward is gamified by giving you daily, weekly, and monthly missions such as login, make, and share a post everyday, comment on three posts, and like five posts for rewards. Torum will be more than just crypto powered social media. In summary, it will be an exchange integrated with a social media and other products providing utility of XTM token. If you are interested for more information, join now and take a look yourself.
Minds is a free and open source distributed social networking service that uses the blockchain to reward the community with tokens. Minds has become popular for its commitment to privacy, decentralization, optional anonymity, radical transparency, free speech, and user rewards in contrast to the surveillance, secrecy, censorship, and algorithm manipulation it alleges, occurs on many proprietary social networks. Smartphone application is also available and the interface design is as familiar as popular social networking platforms. Join using this link https://www.minds.com/register?referrer=0fajarpurnama0.
An emerging social media platform that rewards you in Uhive tokens. The concept is having many spaces and you choose what space to follow (kinda like myspace?). They also have a smartphone application that is well designed. Join at https://rt.uhive.com/referral and Use my referral code (GY3WKO) to earn an extra 25% tokens on all your new purchases.
Unlike other platforms, Voice is bot-free and only allows one account per person. This means interraction between real people and no shadiness. You can get rewarded in Voice token for creating popular contents. Currently, it is still in invitational phase and I am still on the waiting list.
Crypto Powered Blogging Platform
Steem is its own blockchain initially for contents where they are decentralized. You get rewarded in Steem in Steemit if you make a comment on a post and other people upvoted your comment. It is also said that you get a portion of the reward if you upvote and then other people upvotes after you but I am not so sure. Yes, there was an internal conflict in Steemit where Justin Sun bought it and ended up splitting between Steem and Hive blockchain where Hive is a hardfork of Steem. However as a starting user or content creator, why do you care? Just join both Steemit and Hive Blog and see how it goes. Also Steem and Hive are the blockchain. There are other platforms out there other than Steemit and Hive Blog which I have not explored. Recently, another fork came out called Blurt World where the difference is there is no downvote. Unlike Steem and Hive where those who hold the most coins have the ability to destroy posts that they do not like, Blurt cannot be controlled by whales. Join now at https://hiveonboard.com/?ref=fajar.purnama, https://signup.steemit.com/?r=fajar.purnama, and https://register.blurt.buzz/?referral=fajar.purnama
I first saw Uptrennd as a social media that rewards users in 1UP token for their engagements such as reading posts and commenting but then I saw it to be too much to be just a social media platform because of the length of the posts. Usually a social media platform have people posting few sentences of status but most of the post I see are more like blog posts which is longer than status. Also, be careful when commenting here. At first I did not know that users get 1UP token just for commenting so many people spam just to get the reward. The community hates comments that are not informative even comments such as "keep up the good work", "what a nice post", and "you did well" are regarded as spams. You have to give more informative comments such as asking related questions and giving feedbacks. Join now at https://www.uptrennd.com/signup/NjYwNjg.
Publish0x is a crypto agnostic platform that rewards you in various of tokens for reading a post. The system is a tipping system but they provide the tips for you. Also, you choose how much to split between you and the author of the post. Naturally, it attracts fantastic posts where this is one of the platform where I found hidden crypto gems also a good place to keep up with cryptocurrency news while getting rewarded. Join now at https://www.publish0x.com/register?a=4oeEw0Yb0B&tid=cryptocurrency101forusers.
Crypto Powered Multimedia Platform
LBRY is a video platform dedicated for censorship resistance and content ownership. As a viewer, you get rewarded by watching videos and following content creators in LBRY credit. They are very fierce in inviting users who hates Youtube's censorship. If you have a Youtube channel, you can back it up to LBRY in just few steps and it will remain synchronized where you do not need to upload to LBRY, just upload to Youtube and LBRY will duplicate the video to your LBRY channel for you. Now they have Odysee which is just the same as LBRY but better design. Join now at https://lbry.tv/$/invite/@0fajarpurnama0:e
Bittube is similar to LBRY but they do not solely focus on multimedia. They have airtime, browser, adblock, virtual private network (VPN) service, content monetization, and TUBE payment. It is more likely that they will expand their services in the future. For now there is bittube.tv and bittube.video but before that you need to install the browser extension and register through this link: https://bittube.app/?ref?2JY4FE0CP.
Dtube is built on top of Steem blockchain though they are changing their reward system to their own Dtube token. Since it is Steem, the system is almost the same. You get rewarded if you make a comment and other upvotes it. Now this one is really decentralized that they may not keep a video storage on their own server but straight to interplanetery file system (IPFS) where you should always have a backup of your own video as they can disappear. My videos are lost which I do not know why but I suspect that my videos are not popular enough where not enough nodes are storing my videos and those nodes now are down.
Crypto Powered Gaming Platform
Rather than just rewarding players with coins for playing their video games, their implementation is more to Nonfungible Tokens (NFTs). NFTs are like ownership of digital medias powered by the blockchain. Think of it as Monalisa painting where even if you create the exact duplicate of it, it will not have much value to the original. Eventhough the quality is the same, but the fact remains that it is the people that gives them value. If people says it is not valuable, then it is not valuable even if they exactly the same. If you think that NFTs are stupid like you can just copy the digital media, you will be even more stupid if you do not accept the reality that people gives them value and not take profit. The earliest example is Decentraland where you can own lands in virtual reality currently exchangeable in their native currency called MANA.
Well, I do know one site that have collections of classic games such as ones in old Nintendos and Gameboys at Roller Coin. If you play those kinds of games daily, better to play at https://rollercoin.com/?r=jyiwc4ls and earn pennies of cryptos. Alas, I became more busy as I get older. Eventhough I really wanted to play games a lot, I did not have the chance. Therefore, I cannot discuss about this topic much. Hopefully, I can get rich one day, so I can start switching my income from jobs to playing games like those content creators.
Earning is the best way to get cryptocurrencies without fearing of losing its value because it is in our nature when we invest or trade, we do not want to see losses but by earning we most likely avoid that psychological problem. You can work for people who owns cryptocurrencies by doing some physical labors such as in part time jobs for example performing deliveries, sorting goods, doing errands, and even providing therapies such as massages. Aside from those activities, here are some online activities that I have experience on that can earn cryptocurrencies.
I define common tasks as tasks that almost everyone can do. For examples, answering surveys, testing applications and games, and viewing advertisements. The best application that provides these tasks for me at the time of writing this book is Cointiply. In my opinion, it is like an intemediary, bridge, broker, or third party application that connects common task providers in one place. Other than its website, an Android smartphone application is available as well and hopefully for IOS in the future too. Join now at http://cointiply.com/r/lnEjx. There are probably more platforms other than Cointiply, but I have not explore more especially freelance sites that are paid using cryptocurrencies.
Many people became content creators due to the passive income made from advertisements and donations. Nowadays, you can become an independent writer and a multimedia content creator who have your own channel. Long before I was in cryptocurrency, I was a blogger and a Youtuber. Thanks to the integration of cryptocurrencies, the income that can be made from content creating expanded.
Thanks to advertisement platforms such as Google Adsense anyone can monetize their contents meaning earning passive revenues based on the viewers of the contents. There is also another kind of advertisement platform that can monetize your hyperlinks such as AdFly. Other than advertisements, there is Patreon that is dedicated on providing platform for premium contents. Then, there is digital currency platforms such as Paypal that allows for easy donation. Today, there is cryptocurrency that expands the monetization possibilities:
- Simpler donations where you only need to show your coin address' QR code on your contents for viewers to donate. There is also Brave and Bittube where the viewers only need to click a button to donate when viewing your contents but only in their BAT and TUBE. Very soon, web3, unstoppable domains and other crypto innovations are comming where even QR code is no longer necessary but viewers only needs to click a button. Not to forget to mention that cryptocurrency donation can be transparent, therefore anyone can see the donation transaction flow.
- Bittube have their airtime monetization function where you only need to post a view lines of script on your contents. The result is that you are rewarded with TUBE for the viewers' time viewing your contents especially Bittubers.
- Though Google Adsense and AdFly only pays you in fiat currencies but there are other platforms that pays you in cryptocurrencies such as MellowAds and A-ADS. The method of advertisements are also expanding such as VIDY that smartly puts advertisment videos in some words of your articles.
Also some online code editors:
Crypto Powered Products Previously Mentioned
There are many platforms today that does not require you to configure your own monetization. They handle it for you where all you have to do is just focus on creating your contents. In this subsection is the products I have mention where previously I only state that you are rewarded cryptocurrencies for viewing. You should also know that content creators are rewarded as well:
Crypto Powered Products Newly Mentioned
In this subsection are crypto powered products that I have not mentioned because they only reward content creators only and not viewers:
Read.cash is another platform that pays writers in cryptocurrency. Currently, they stated clearly that they have no intention of storing the contents on chain and fighting against censorship is not in their scope. They do hate censorship but they simply want to focus on rewarding content creators. Their form of reward is in Bitcoin Cash because it is designed for low transaction fee. Join now at https://read.cash/r/FajarPurnama.
Like other crypto video platform but focuses only on live videos. The streamers are tipped with Lino, Lemon, etc. Join now at https://dlive.tv?ref=fajar.purnama.
One of the earliest crypto video platform that fights against censorship. Monetization is coming soon but content creators can still earn through donations. Join now at https://www.bitchute.com/accounts/referral/0fajarpurnama0.
Referrals or Affiliate Marketings
If you realized that at the end of each subsections, I shared my referral links to each of those products. If you used those links, I will get commissions in cryptocurrencies. That's right, in this age, sales person is not only those well dressed in suits handing flyers. Anyone can become an indipendent or freelance sales person by sharing referral links provided by the providers. Especially with cryptocurrencies, providers can generate coins or tokens before it will have any value and the borderless and permissionless system allows to quickly distribute the rewards to the sales person. In my opinion, since there are many products to refer, is better to create priorities, and as a content creator the priority of the products to refer in order from my preference are (1) demand, (2) deals, (3) profit, and (4) others.
Demanded products from my definition are products that are potentially needed and are useful for customers. Examples of potential demanded products are:
- When people asked me where to buy cryptocurrency, I redirect them to Indodax for Indonesian which is the most popular cryptocurrency exchange in the country and if they join using this link https://indodax.com/ref/0fajarpurnama0/1, I will 25% of their trading fee for 3 months. For those who are in Japan, I redirect them to BTCBOX and if they input HNRCWSLFLF, we all will get JPY 500 each.
- When Indonesian people asked me about selling their cryptocurrency and withdraw them to the bank, I redirect them to Tokocrypto for desktop users, and Pintu (input FAJAR199) for mobile users because they have low fixed withdrawal fee of Indonesian Rupiah (IDR) 5000 which is around $0.4. If they use my Tokocrypto link https://app.tokocrypto.com/referral/fajarpurnama, we each will get TKO 75, and if they use my Pintu code FAJAR199, we each will get a random reward ranging from IDR 5000 - 1000000.
Examples of potentially useful products but not necessary demanded are:
- I always promote Brave Browser because it is a revolutionary browser that changes the advertising system and favours the users. Other than the BAT rewards, some are just interested in the built-in TOR. Speaking of TOR, also recommends people Bittube Extension or Browser because it has a built-in VPN. If they use my Brave link https://brave.com/faj934, I will be rewarded up to to $7 worth of BAT, and if they use my Bittube link https://bittube.app/?ref?2JY4FE0CP, we each will be rewarded with TUBE 5. For those who are interested in cryptocurrency sending, receiving, and staking, I recommend them Netbox and if they use this link https://netbox.global/r/publish0x we each will get around NBX 6.
- For Youtubers, the first I will promote is LBRY because Youtube is now pushed by higher authorities to censor videos and many Youtubers have been disrightfully banned with all their videos deleted. Therefore, I suggest them to backup and synchronize their Youtube channel to LBRY to have a backup channel. If they use my LBRY link https://lbry.tv/$/invite/@0fajarpurnama0:e, we each will get LBC 15. Other than LBRY, there are Bittube, Bitchute, Dtube, DLive, and Viewly but not before LBRY because they do not have the Youtube backup and synchronization feature.
- For bloggers who are fighting against censorship, I recommend Steemit, Hive, and Blurt. If they have their own platform, I recommend them buying unstoppable domains, then utilize interplanetary file system (IPFS). For bloggers who needs quick funding support whether they want to go full time or just needs motivation, I recommend Publish0x, Read Cash, and Uptrennd.
- For those who are desperate for money, I can recommend Cointiply and cross our finggers that we may get lucky that there are high paying tasks such as answering survey for few minutes and get rewarded with more than $5 each. If not, hopefully those low paying surveys will do. There are also other tasks and some are high paying such as installing and trying apps and playing games until you reach a certain level. The only thing to becareful of is the multiplier which is the best multiplier I have found so far where not just as a chance to gamble our earnings but fun as well, but also very risky where I once lost all the $10 that I have earned. If they use my link http://cointiply.com/r/lnEjx, I will get 1% of their earnings.
- For content creators who have their own platforms and want to monetize, I recommend Brave (https://brave.com/faj135), Bittube (https://bittube.app/?ref?2JY4FE0CP), MellowAds (http://mellowads.com/?ref=FE0784E9197E), A-ADS (https://a-ads.com?partner=1482680), and Coinimp https://www.coinimp.com/invite/8c923bdd-07f9-4051-a110-bf3db7fb8d07. If they use my links, I will get percentages of their earnings not taken from them but paid extra by the providers.
Deals are referral links that not only profits the inviters but the invitees as well. In other words, it is more profitable to buy, subscribe, or register to products using referral links instead of the regular way. Go to https://0fajarpurnama0.github.io/deals to see the rest of my deals, some examples are:
- Join crypto.com using this link https://platinum.crypto.com/r/q4pv8f6y8t and we will both get $50 after you apply for Ruby crypto.com visa credit card by staking CRO 1000 for half a year.
- Join Bybit using this link https://www.bybit.com/app/register?ref=pkpyy and deposit BTC 0.02 and we both will get $50 trading credit. This is the same for Phemex as well by using this link https://phemex.com/web/user/register?referralCode=EUU3L.
- Join Coinfield using this link https://coinfield.com/ref/0/ID5E857C75CE and we both will get SOLO 20 which is around $17 after you pass the know your customer (KYC) process and deposit $100 fiat.
- Join Coinbase using this link https://www.coinbase.com/join/purnam_0v and we both will get $10 after you pass the know your customer (KYC) process and exchange $100.
- Get Ternio Block crypto credit card using this link https://dashboard.getblockcard.com/i/JRf9gv3Q and we both will get $10 after you pass the know your customer (KYC) process and deposit $100.
- Download Atomic Wallet using this link https://atomicwallet.io/join?kid=17KP6Z, I will get AWC 5 (~$3) and you will get 10 AWC (~$6).
- Join BTCBOX and insert HNRCWSLFLF in invitation code and pass KYC, and we will get Japanese Yen (JPY) 500 (~$4).
- Download Trust Wallet using this link https://share.trustwallet.com/l2nusUW and we will get TWT 125 (~$3) after you purchase any cryptocurrency above $50.
- Download Luno Wallet using this link https://www.luno.com/invite/S24B5E and enter S24B5E and we will get IDR 25000 (~$1.7) after you exchange above IDR 500000 (~$35).
- Join LBRY using this link https://lbry.tv/$/invite/@0fajarpurnama0:e and we will get LBC 15 (~$0.4) after you exchange above IDR 500000 (~$35).
- Join Uptrennd using this link https://www.uptrennd.com/signup/NjYwNjg and we will get 1UP 100 (~$0.4).
- Join Pintu and input FAJAR199 and we will get random reward ranging from IDR 5000 - 1000000 ($0.3 - $70).
- Download Bittube using this link https://bittubeapp.com/?ref?2JY4FE0CP and we will get TUBE 5 (~$0.07).
- Download Netbox using this link https://netbox.global/r/publish0x and we will get up to NBX 6 (~$0.06).
- Download Pi Network using this link https://minepi.com/fajarpurnama and we will get PI 1 (~$?).
- Download Partiko using this link https://partiko.app/referral/fajar.purnama and we will get 4000 points (~$?).
- Download COIN app using this link https://coin.onelink.me/ePJg/c1acac8d and we will get 1000 COIN (~$?).
They are not deals because they are only profitable for inviters which for me can be in form of one time reward amount, multi-level referral system, and creative referral system.
One Time Reward Amount
My next highest one time reward amount referal links after crypto.com, Bybit, and Phemex, are Coinbase earns where each links https://coinbase.com/earn/eos/invite/hzd43p0x, https://coinbase.com/earn/xlm/invite/8m2p5nx6 will reward me up to $40 and they will earn cryptos for learning where I collected $50 in just an hour.
Multi-level Referral System
The next one is multi-level referral system, if you know the term multi-level marketing, that is exactly it where if the people I invited invites more people, I get rewarded as well. The three products that I found have multi-level referral system are Cryptotab Browser (https://cryptotabbrowser.com/2016839), Cash Magnet (http://cashmagnetapp.com/?refId=eYYAIF), and Switch Here (https://switchere.com/?r=1b0vgf09b0yr).
Creative Referral System
Another referral link that is fun to share is creative referral links. For example Publish0x gave me a unique refferal identification (ID) of "?a=4oeEw0Yb0B" where I can attach to any Publish0x links to refer to someone to receive commissions even if they are not my articles. For example, if I find interesting articles, I can share to my friends or post to the social media while attaching my referral ID to the articles' links, and if someone registered using that link, I will receive a commission. This feature is also provided by Read Cash, Steemit, Hive Blog, and Blurt.
Content Creation + Online Referral
As I said before, with online referral, we do not have to wear glamorous suits and sweet talk people face to face. We can use online advertisement platform or even just post on our social media. If you are a content creator, you can write articles, do podcasts, and make videos related to the products and insert a referral hyperlink within. This way, you can do affiliate marketing while adding contents on your platform to gain more views to increase to increase your monetization. This chapter itself is an example where I write an online book and have referral links in them hoping for customers. If you think further, you can even make your own advertisement by creating a hyperlink image where you make an image or animation that can attract viewers to your referral link and have them click the image and register. Note that you will be a direct advertiser where you only get revenue if viewers register to your referral links unlike being a publisher in adsense.
Almost Free Coins
There are sites that all you have to do is visit them and you will be rewarded in coins for doing so. They call this a coin faucet because it is illustratable as opening a faucet to get a drop of water, where instead of water you get a drop of coin. Though visit interval varies from site to site, most of them rewards you for visiting every hours and most of them are in form of lucky slot machines where you get an extremely small chance to win big for example of to $100. Other than Cointiply, here are my favorite faucets:
- Freebitco.in register at https://freebitco.in/?r=22336127.
- Firefaucet register at https://firefaucet.win/ref/0fajarpurnama0.
Active faucets where they are active in Twitter:
I have more list on https://0darkking0.blogspot.com/2019/07/my-cryptocurrency-faucet-list-free-coins.html. Well, if you are only in for the free coins then no problem but becareful if you plan to deposit some coins to gamble or whatever because there are many scams. This section's title will close this chapter as it is called "almost free coins". Not only these faucets, but everything I mentioned here is in my opinion almost free coins. If it does not cost you electricity and Internet, at the very least it cost you your time. Whether to do this as a job is still debatable and still research in progress from my side. However, this still provides an opportunity for those who only want to get very small amounts of coins where it is not possible by buying.
Table of Contents
- Digital Currency
- Bitcoin to Other Coins
- Correlation to Our Lives
Bitcoin The First Cryptocurrency
The easiest start to understand cryptocurrency is to understand Bitcoin. Bitcoin is the first cryptocurrency created by Satoshi Nakamoto in 2008. The ideal concept of Bitcoin is to have the properties of openess, borderless, censorship resistance, unconfiscatibility, distortion resistance, manipulation resistance, distribution, decentralization, and pseudo anonymous. Disclaimer that the mentioned concept is idealized and in reality may not be perfect. Also in this book contains no technical explanation about cryptography and other technologies behind cryptocurrency because this book is inteded for users only. Instead, only illustrations or parables are provided and may not be fully accurate.
Maybe you have heard about the latest Wirecard issue where one billion dollars was lost, or previous scandals such as seven billion dollars accounting error by Worldcom, Enron's hidden debt, or even the Charles Ponzi scheme back in the old days. If not, most probably you have heard of financial corruptions happening in your country or local area. I still remembered my teen days in Indonesia where there was Century Bank scandal. Nobody knows where the money went and the rich people who put their money their lost all their savings. I remember seeing the news that once a rich woman must know work as a laborer at any construction sites. Who knows if there were any that have to work as a maid or as a slave after losing their savings. I firmly believe in the absolute energy theory where energy does not disappear but transferred out. Obviously, the money did not disappear, someone must have taken that money. With blockchain technology, transactions can be securely recorded in details, preventing these kinds of scandals.
Open and Transparent
Again Bitcoin is P2P where for as long as there is a peer node nearby, you can connect to the network even if Internet is censored. Authorities can always try blocking every nodes but good luck in blocking emerging nodes daily. If you have used any Bitcoin wallet, you probably wondered why they give many warnings of not to make mistake in inputing the receiver's address. That is because the transaction is irreversible not only to prevent distortion and manipulation but to prevent censorship. If a transaction is reversible, authorities can easily demand to reverse your transaction if they do not like it.
Bitcoin to Other Coins
Bitcoin maximalist may say that other than Bitcoin are scam coins, only Bitcoin is the truth, but in my opinion, that thinking will only cover one of the beauty of Bitcoin. The beauty of Bitcoin is that it is open source where anyone can reuse the code and modify. If anyone wants to build something different or just does not agree with some function of Bitcoin, then they can freely create another coin and take a different path instead of fighting to change Bitcoin which isn't that the same as war?. Then let the people choose which coins they prefer. The freedom to choose is one of the beautiful contribution of Bitcoin.
There are many other coins like there are many companies out there where you need a whole team to research them all. You can legitimately get rich buy investing into altcoin because the concept is the same that you invest in good things before anybody knows. For example I bought $70 worth Statera when I saw there post and read that they are a deflationary coin on defi and when I saw that price was still steady, I estimate that they are still early and finally my Statera once worth over $200 and sold $70 to return my capital and now I'm in profit. Also altcoins are the most dangerous investment I know because new stuffs have a high risk of not surviving for example I bought almost $100 of Inmax as a random gamble and for years they have not launch their exchange and $100 plummelled to $1 meaning that I completely lost the gamble. Also, beware of scams that anyone today can make their tokens, they could even name them Bitcoin for example if you buy these named Bitcoin token it cannot be used on the Bitcoin network because they are not the same. Therefore, always do your research first.
Government and Other Private Blockchain
The governments, banks, and companies said they are interested in implementing blockchain. You often heard they said yes to blockchain but no to Bitcoin or blockchain has value but Bitcoin does not have. What do they mean? They like the blockchain and the distributed system but they do not like the decentralization, openess, censorship resistance, unconfiscatibility, and privacy. They are in control of the global financial system, implementing Bitcoin means the same thing as giving up control such as their ability to print currency, their ability to distribute to whomever they want, and their ability to enforce monetary policies.
Correlation to Our Lives
Most of us are probably born with fiat currency or public simple term cash accepted as money which is a tool to communicate value. Simply with money you can buy anything and most of us believe that money is our primary necessity which is not true. Money is just a tool, it is what we can get with money is our true necessity. If you cannot understand that, then you lack history lesson or logic. Ask yourself a question, does money always exist in the past? The answer is no. If you go back in time and give people dollars, they would think you are crazy. Why would they give you stuffs for a piece of paper?
The oldest form of trading is barter. I need water and you need food so I trade some of my food with you to get some water. However, barter have scaling, practibility, and divisibility problem. I have food but not everybody needs much food, you have clean water but not everybody need much water, and someone have clothes but not everybody need much clothes. I need clothes and found someone who has that also needs food. I have to negotiate how much food to give and how much clothes that person will give. Very impracticle and people began to demand a single unit that can measure the value of every item or an item called money that can buy anything.
People began experimenting with salt, sugar, crops, shells, and other commodities as currencies but only one type was admitted through out history and that is precious metals. Mainly gold and silver have the property of immutibility which means no one today can create gold, you have to mine gold. This means today that gold is scarce which is known to have limited supply. The property of gold also cannot deteriorate which the form of gold you have now will remain the same almost forever which indicates a good commodity to store. Gold is divisible where items can be valued in weight of gold for example a meal is worth a few miligrams (mg)s of gold. People began to create gold coins that makes trading much more practical then before.
In my opinion, for average people, gold was doing well as a currency but gold was not practical enough to be used on nation scale for example it is very heavy to carry for massive transaction not forgetting to mention costly as well and risk of being raided or anything that can lose the physical golds. Dividing gold is still not easy for regular people where you need smithing which means that there is a limit to the divisibility. Say that I carry a few mg of gold but I only want to buy one candy, usually I cannot but have to purchase many candies or other items.
This is where paper money comes in. Instead of carrying heavy gold, we trust banks to store our gold and receive a certificate or a kupon where each of them represents an amount of gold. That is the good dollar I knew, where each dollar can be exchanged to fixed certain amount of gold. Paper money are easier to carry and easily divisible and vice versa. It is also practical enough to be used as a medium of exchange on a nation scale. Then comes banking, the digital age, and online transactions and you know the rest.
Before proceeding, let us take a look at some other currency debasement history. Most of the information I got from Guide To Investing in Gold & Silver by Michael Maloney and I strongly recommend watching his Hidden Secrets of Money Episode.
This book does not emphasize cryptocurrency as a solution to financial value. You can find gold bugs in agreement with Bitcoin activists regarding the problem with the current financial system but does not agree with Bitcoin especially other cryptocurrencies mainly because they do not have physical form and many other reasons. Like this book stated previously that if the problem is only financial value, there are other solutions which proof historically effective. Eventhough these years Bitcoin and some cryptocurrencies have the best performance, regular people cannot handle the short term volatility. However, before the purpose of tackling financial value, Bitcoin and other cryptocurrencies are created for a larger purpose.
The last thing that they will try to do is to force control the price of the market to their fiat currency. This happened a few years later in the United States after President Nixon no longer supports the convertibility of the Dollar to gold. The worst was near the end of Roman Empire where they released a law that citizens are forced to work and continue family business but at a controlled price punishable with Death.
With Bitcoin and other cryptocurrency, regulatorily can be banned but technically cannot be stopped or censored, technically cannot be confiscated where the only way is to persuade, pressure, or social engineer the owners to hand over themselves, both the supply function and distribution are algorithmicly and mathematically defined which ideally is neutral and not controlled by any single entity, and also most are open and transparent.
Table of Contents
- Wide Adoption Have Not Started
- Crypto Debit and Credit Cards
- Fiat Digital Wallet
- Find other adoptions and leave a comment if you know more.
- Centralized/Custodial Exchanges
- Remittance Example
- Exchange to Start
- Example Usage Guide
- Simple Indodax Guide
- Indodax Registration
- Indodax Verification
- Indodax Deposit and Withdraw
- Check Other Menus
- Indodax Market
- Simple Coincheck Guide
Wide Adoption Have Not Started
Crypto Debit and Credit Cards
- Crypto.com. Today, crypto.com is globally on the center stage for crypto powered debit and credit cards. Many people trust them, they support many coins, and they have other great services. Also they are big and are very good at marketing. Their card offers many cashbacks and discounts where for crypto enthusiast, the cashbacks are in crypto coins. The best deal I can offer you is by registering using mine or other's referral link https://platinum.crypto.com/r/q4pv8f6y8t where if you input q4pv8f6y8t in the referral section, not only me but also you will get a $50 welcome bonus in MCO. Although you need to apply for a Ruby Card by staking 50 MCO for 180 days to unlock your welcome bonus. Well, if you are rich, you can stake more MCOs and apply for better cards. Currently the card ships in US, EU, UK, and New Zealand, and more countries are coming soon.
- Ternio Block Card. If I'm not wrong, I found this from advertisements which is also a debit card that you can power with few cryptocurrencies. You can get cashback in crypto tokens as well. Use my referral link https://dashboard.getblockcard.com/i/JRf9gv3Q and deposit $100 and we both will receive $10. There is a monthly service fee, therefore do not deposit if you do not plan to use.
- Vandle Card Japan. In Japan, my friend found a debit card called Vandle that can be topped up using bitcoin or bitflyer. This card is challenging for foreigners because it is all in Japanese, so get help from Japanese or use translate app.
- Coinbase Card. Coinbase also releases a card and use my link to get $10 bonus after exchanging $100. They are available in Austria, Belgium, Bulgaria, Croatia, Cyprus, Denmark, Estonia, Finland, France, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and the UK.
Fiat Digital Wallet
Find other adoptions and leave a comment if you know more.
Exchange to Start
My home country is Indonesia where I have most of my identifications and accounts and most likely I will stay there often so for my case I will register for cryptocurrency exchanges in Indonesia such as Indodax, Tokocrypto, Upbit, Luno (input "S24B5E" in referral to get your bonus), Pintu (input "FAJAR199" in referral to get your bonus), Zipmex, Tokenomy. If you are staying in your home country then you can finish your starting phase up to this point but for me, I'm currently studying in Japan therefore, is a good choice and also an opportunity to register to exchanges in Japan. For now only registered in Coincheck, and BTCBOX (input "HNRCWSLFLF" in referral to get your bonus).
Why should you start with the closest first? Because they are centralized or custodial which means you are giving your funds to them and trusting them that they will manage your fund properly. The moment you give them your funds, they can take it and use it as they wished, which is why trust is very important and is the weakness to the current system compared to the new decentralized system. There are many variables that builds trust such as being regulated, many users, good reviews, clean history, and among them is physically close to your distance where if anything happens to your funds, you can just visit their office.
Example Usage Guide
Actually this post is for my friends and maybe potential future seminars that I will host to introduce cryptocurrency to new people. I will give an example guide of using one of the exchanges in my home country which is Indodax and one of the exchanges in my country of residence which is Coincheck. However, once you know how to use one of them, you mostly likely can use the rest with few difference because they may introduce different functions but the basics are:
- Have an email address and prepare your identification documents.
- Opening their websites, registering, verify email address & mobile number, login, explore, etc.
- Deposit and withdraw cryptocurrency.
- Deposit and withdraw fiat from or to bank account.
- Buy and sell coins instantly.
- Read charts, orderbooks, and bid prices in an auction-like market.
Finally, the fees that you need to check whether there is or not:
- exchange rate
- deposit fee
- withdraw fee
- trading fee
- other transaction fee
You can check on their websites because they can change for example Indodax's fees: https://help.indodax.com/bagaimana-rincian-fee-di-indodax-com/ and Coincheck's fees: https://coincheck.com/info/fee.
Simple Indodax Guide
Indodax Deposit and Withdraw
I also made a video of depositing IDR from OVO digital wallet if you are interested:
- 00:00 Opening
- 00:12 Already in Indodax website
- 00:35 Click wallet menu to find OVO deposit menu
- 00:38 Choose IDR
- 00:41 Choose deposit
- 00:51 Choose OVO
- 00:01:00 automatically use registered phone number
- 00:01:10 receipt issued to OVO application
- 00:01:35 final result
Here I successfully withdrawn my IDR to my Bank Negara Indonesia (BNI) account. In Indodax, the IDR withdrawal is fast where for me took only an hour or two but the fees are high which is 1% and minimum 25k IDR.
- 00:00 IDR withdrawal menu.
- 00:27 Input amount, bank name, and account number.
- 02:35 Confirm through email.
- 03:20 Withdrawn successful proof.
Another example is that I withdraw using Luno (input "S24B5E" in referral to get your bonus). It's cheap with only 6.5k IDR but took almost 3 business days although they stated that it should only took 1 business day.
- 00:00 0 deposit fee for other than BTC
- 00:11 0.0001 BTC deposit fee
- 00:21 Send BTC from Exodus to Luno
- 01:16 Exchange BTC to IDR
- 01:36 Add bank account
- 02:02 Request IDR withdrawal to BCA
- 02:38 Withdrawal successful with 6500 IDR fee but took 3 days
My example of directly withdrawing Raven Coin that I mined in MiningpoolHub.
- 00:00 MiningpoolHub withdraw menu.
- 00:37 Registering Indodax account receiving address.
- 02:10 Request withdrawal.
- 03:12 See transaction history.
- 04:20 Withdrawal successful.
Check Other Menus
Simple Coincheck Guide
Coincheck Deposit and Withdraw
I also made a video of depositing JPY from Japan Post Bank for foreigners in Japan:
- 00:00 You need to pass know your customer (KYC) first.
- 01:25 In website, go to wallet and choose deposit Japanese yen.
- 02:19 A detailed instruction of where to transfer.
- 02:40 Go to JPPost Bank
- 02:54 Choose Remmittance.
- 03:05 Input pin and choose other bank.
- 03:20 Input "su" and find SBI, then "ho" and choose account.
- 03:45 Insert the account number instructed on the web.
- 04:05 Input deposit amount.
- 04:20 Do not use your default name, change to user id etc as instructed.
- 05:55 Input your phone number.
- 07:35 Deposit successful.
I made an example of transferring coin from Coincheck to Indodax and also possible fees if remmitting JPY to IDR from Japan to Indonesia:
- 00:00 Send BTC from Coincheck to Indodax
- 03:35 Fee calculation
- 08:40 Sell BTC to IDR
If you prefer my video explaination:
- 00:00 default trading page
- 00:30 buy and sell coin instantly
- 00:40 chart, orderbook, etc.
- 02:00 demo trading.
- 05:40 open order.
- 07:50 demo instant coin buy.
- 10:30 coincheck's beautiful trading view.
Check Other Menus
Table of Contents
- Enter With a Wallet
- Custodial Wallet
- Semi-Custodial Wallet
- Non-Custodial Wallet
- Hot Wallet
- Cold Wallet
- Getting Your First Coin
Enter With a Wallet
Backup and Secure Seed Phrase and/or Private Keys
Sending and Receiving Coins
The necessary functions of using a wallet have been discussed. Explore other function yourself. I may cover interesting functions in separate articles.
Other Hot Wallets Types
Getting Your First Coin
Now that you have medium to receive your coins whether through custodial wallet, non-custodial wallet, hot wallet, cold wallet, or multiple of them, you are ready to fill them with coins. There are only three ways to get coins which are transacting with someone, mining, and creating one by becoming a developer who invent your own coin. In this section is recommended for new users get coins directly from someone. If you want to get them using your bank account, skip to the next chapter, if you want to mine, skip to later chapter, and if you want to become a developer skip to the next book. Finally the last message in this section is to get yourself some cryptocurrency in order to participate in the ecosystem because without them, your options are limited. Start with something small or more accurately, an amount you are willing to lose or an amount you are comfortable with because if you go in big out of greed expecting to get rich quick, your mentality may not be able to handle it because the market is very volatile where even if in the future the price will sky rocket but it may drop more than half first before that happens.
Buy From Someone Trustful
Non-Custodial Credit Card Service