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Jeremy West
The "Digital Cash Guru"
You are about to enter the 21st century of money.
What do people mean when they say 'bitcoin'?
Bitcoin was only the beginning…

Bitcoin is to digital currency (aka cryptocurrency) as:
Kleenex is to tissue 
Hoover is to vacuum
Hula hoop is to toy hoop
Jacuzzi is to hot tub
Aspirin is to acetylsalicylic acid
Viagra is to sildenafil

Will digital currency always be this hard to understand?
Probably not. Take a look at this video of people trying to figure out the internet in 1994:
Are we in a tulip mania or digital currency bubble?
Maybe. I unfortunately don’t have a crystal ball. But…

“They” have been saying this since at least 2010.

My OPINION is that we are in a digital currency bubble and most of the 1324+ will fail

But here are five companies you may have heard of that started during the dotcom bubble : Amazon, ebay, priceline, Shutterfly &

MOST digital currencies will probably fail. I can’t tell you which ones will survive (I can’t even tell you any will!) But if any of them replace wire transfer (just one possible use case),
some have predicted it/they will be worth $1 million each

What is the history of bitcoin and other digital currencies?
Before bitcoin any digital currencies required a third party to track who owned what

In 2009, an anonymous individual (or individuals) calling themselves Satoshi Nakamoto solved that problem: a distributed network ledger “he” called a "blockchain”

It works like file sharing (e.g. bittorrent). The record of who owns what is updated every few minutes and instead of being kept by a central authority, it is kept on every computer that runs the full bitcoin (or other cryptocurrency) software

This prevents double spending, large fees by corporations such as PayPal, and disputes where PayPal or the like can take money back from you after they have paid you

Essentially, cryptocurrencies are “internet cash”
What is a blockchain?
Here is a brief overview from "Dash School" by Amanda B. Johnson:
How do I set up and secure a digital currency wallet?
Download a free digital wallet from your phone or browser store:

iPhone or iPad: Jaxx
Android: Coinomi (preferred) or Jaxx
PC or Mac: Jaxx chrome plugin

Ensure you write down the restore passphrase, make copies, and keep them in multiple safe places.

Ensure you set a PIN so if anyone gets access to your phone they can’t empty your wallet
Don’t keep more than you would in a physical wallet on a mobile wallet – if you intend to invest a lot, to be most secure check out paper or hardware wallets.

How do I buy digital currency from an exchange?
Coinbase is the most popular option for both buying and selling. Again, get set up now as during digital currency upswings they get very busy and take longer to verify.

Once you are set up on an exchange, simply follow the directions on their site for buying the digital currency of your choice. On some, bitcoin is the only option or the option, but that is okay because you can use changelly to change most digital currencies into most any other digital currency.

I recommend signing up for and getting verified on both Coinjar & Coinspot now as they sometimes take days to verify and you won't want to wait once you are ready. Check the buy/sell prices on both before trading as sometimes one or the other works out in your favour. Coinbase also works in Australia but only to buy, not to sell.
How do I buy digital currency from individuals for cash?

Digital currencies are like digital cash. Some people never want it to touch their bank account and “a few” silly places in Australia still only accept AUD .

As bitcoins are in demand, you will normally pay a premium to do it this way. On the other hand, when/if you want to sell you will get extra this way!

Why did you change all your bitcoin into dash?
I used to think bitcoin didn’t need any competition. It’s open source so if anyone else came up with good ideas, these could simply be added to the bitcoin code. So I paid no attention to so-called “altcoins” (aka at the time -- “shitcoins”)

Bitcoin had/has a scaling civil war that has been ongoing since 2016:

In early 2017, a friend had me help him set up his first digital currency wallet. He was interested in altcoins, and because of the civil war, so was I.

I investigated, and the only one I found that addressed the problems bitcoin was having (and had a whole lot more good ideas) was dash .

So is Dash to Bitcoin as Facebook was to MySpace or as Google+ was to Facebook? Still no crystal ball.

All I know is Dash is set up much better than bitcoin and I will do everything I can to promote it.

How do I trade one digital currency for another on Coinomi?
Don't Panic!!!
While digital currency transfers only take minutes instead of at least 1 business day like banks (I’ve had wire transfers take weeks), they are not necessarily instantaneous.

You will see the one you are trading out of leave your account immediately .

If you are transferring from any digital currency that is not bitcoin or ethereum to any digital currency that is not bitcoin or ethereum, be prepared to wait anywhere from ten minute to half an hour to see the new currency show up.

If bitcoin (btc, not bitcoin cash or gold) or ethereum is involved, be prepared to wait a day or more (this is part of why bitcoin sucks now...)

In the rare event that your new currency does not arrive in the timeframes listed above, simply go to and create a support ticket. Their service has always been great to me and my friends!

CC 2017. Make money by writing about your interests like I do. Come join me at Wealthy Affiliate.
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