Podcast

Getting Started in Cryptocurrency with Corey Stedman

Getting Started into Cryptocurrency with Corey Stedman on Carry On Friends The Caribbean American Podcast

Corey Stedman is a co-founder and director of Node Capital, a global technology company that applies data science to Cryptocurrency. Node Capital has developed a range of products applicable to the industry including: Pouch, an application that monitors and manages cryptocurrency wallets with the goal of assisting users to calculate and reconcile values of their cryptocurrency assets in real-time.

In this episode, Corey gives us the basics of getting started in Cryptocurrency.

 

Highlights from this episode:

Setting up an account

  1. To set up an account to buy and sell cryptocurrency within 15 minutes, go to any of the following options: coinbase.com , bitstamp.net, gemini.com. Purchases can be made with debit card, credit card or ACH.
  2. When you open your account with an initial dollar value, you can do one of two things:
    1. Buy & hold, so it can grow in value (similar concept to buy stocks)
    2. Buy and send to someone’s unique wallet address. (There’s wallet software for iOS and Android)
  3. If you want to use cryptocurrency for everyday things, like sending money to family:
    1. Convert to Fiat (although most exchanges don’t deal with Fiat directly.)
    2. Go an exchange to covert to cash & deposit into bank account.
    3. Find merchants who accept cryptocurrency directly.

Getting the terms right:

  1. Blockchain is the foundation on which Cryptocurrency is built on.
  2. Bitcoin, Etherium (aka Ether) are forms of cryptocurrencies eg. (US dollar, Pound Sterling)

Fun fact: M-Pesa the first digital currency was started in Kenya

 

 

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