Cryptocurrencies is really computer software designed to store transaction records that is used in the exchange for goods and services online, on the internet. The Cryptocurrency assets ownership records, together with the transaction details are stored in a database, otherwise known as a ledger, using strong cryptographic software security code which is then distributed across multiple pieces of data (blocks), that are interlinked across the internet to secure transaction records, control the creation of additional coins, and to verify the transfer of coin ownership.

Read the Fact Sheet and the end of the FAQ’s for some interesting FACTS!

Cryptocurrency removes central banks and authoratarians from managing the money supply, since over time they tend to reduce the value of money via inflation
The technology behind cryptocurrencies, called the blockchain, is a decentralized processing and recording system, not owned by anyone and can be more secure than traditional payment and financial systems

Blockchain is defined as a ledger or otherwise known as a software database that contains decentralized data which is securely shared. It is an open source software process verification technology.

The innovative feature of Blockchain technologies is that it guarantees the security of records of data and generates trust without the need for a trusted third party.

There are 3 types of Blockchains

Public Blockchain
A public, or permission-less, blockchain network is one where anyone can participate without restrictions. Most types of cryptocurrencies run on a public blockchain that is governed by rules or consensus algorithms.

Permissioned or Private Blockchain
A private, or permissioned, blockchain allows organizations to set controls on who can access blockchain data. Only users who are granted permissions can access specific sets of data. Oracle Blockchain Platform is a permissioned blockchain.

Federated or Consortium Blockchain
A blockchain network where the consensus process (mining process) is closely controlled by a preselected set of nodes or by a preselected number of stakeholders.

Cryptocurrencies as we know them exists, because of Blockchain Technologies.

Cryptocurrency Mining refers to the energy intensive process of computer hardware for solving complex math problems through verification of multiple electronic transactions and adding them to a digital software defined blockchain, a public ledger. It is essentially bookkeeping for the Cryptocurrency network and in return for Miners accounting services Miners get rewarded in Cryptocurrencies.

Just like your regular wallet that stores physical currency when you’re not using it, a cryptocurrency stores your digital currency.

Your Crypto Wallet stores not only your Crypto assets but also your Private Key! Just like your Credit Card with its Card Number and CVC number at the back. NEVER EVER, EVER, share your Private key with anyone!

Always Backup your Private key, out of reach! Don’t store your Private key online!

The safest and most secure way is doing it the old school way; write it down on a piece of paper (laminate it for long store use) and make a copy or 2. Then put it somewhere you would remember.

In most cases, if you lose your Private key, you will lose your Crypto assets!

Types of Wallets:

Hardware Wallets
Also referred to “Cold Wallets”, which stores your Private Key, offline on a physical device, not connected to the internet (when stored)

Software Wallets

Also referred to as “Hot Wallets”, which stores your Crypto assets and Private key online, just like your Banks! You don’t want that, because the principal and fundamental technology behind Blockchain, is to put You, in control! If you’re a day trader in Crypto, it makes it easier to keep some amount online, but NEVER, EVER, leave large amounts of Crypto assets online!

Check out SAM’s Blog for more on Wallets!

So, you have your Crypto Investment Hardware working for you and generating automated income day and night but, how and when do you get paid?

Before we answer that question, we need to understand Crypto Mining Pools:

A mining pool is a joint and collective group of Crypto Miners who combine their computational resources over the internet to strengthen the probability of finding a transaction to successfully Mine Cryptocurrencies. If the mining pool is successful and receives a reward, that reward is divided among all Crypto Miners, in proportion of each Miner’s processing power, relative to the entire group in the pool.

Now, because the reward originates from the Mining Pool, the said Mining Pool pays the reward directly the owner of the Crypto Wallet.

Need a new Car, Motorbike, Jet Ski, Boat or have an eye on a piece of land? Maybe you just want to go buy bread and milk with your Mined Crypto; its super easy and you have several options, each with their own set of, let’s call them “rules” to remember.

• Sell your Crypto back to an Exchange, and receive South African Rand
• Use a Crypto ATM, they seem to popup out of nowhere.
• Load Crypto on a Prepaid Card and swipe anywhere, anytime.

Rule No. 1 – Nothing in Life is a guarantee!
Rule No. 2 – No person or company can guarantee you anything, especially in the world of Cryptocurrencies! If they do, RUN!
Rule No. 3 – If in doubt, reread Rules No. 1 & 2!

SAM does not Buy or Trade Crypto, She Accumalates it Smarter!