CryptoBasic Podcast

Your source for all Cryptocurrency information, made for the novice investor. 

Filtering by Category: 101 Series Concepts

101 Series: Cognitive Biases

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101 Series

Cognitive Biases

Today we’re taking on a topic that is extremely important in the cryptocurrency world, but is applicable in all areas of life: Cognitive Biases. These are the pre-programmed ways our brain is constructed to deal with the things life throws at us. From trying to get even on a bad trade, to refusing to sell a coin no matter what we hear bad about the project, may of the ways in which we react to the swings in the cryptocurrency community will be easier to understand when you understand your own biases. We go over some of the common biases, and then give some crypto and non-crypto examples of each one. Expand your mind in 101 Series: Cognitive Biases

LINKS TO TOPICS FROM THE SHOW

What is a cognitive bias?

Types of hueristics

Great book on the subject. This is NOT a referral link, simply a good resource we thought we’d share.


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PLEASE Subscribe and give us an honest rating on iTunes.

These links are all referral links for us, but we use every one of these exchanges and wallets.

Robin Hood is getting in the crypto game! You get a random stock valued between $2 and $200 and so do we, this is super exciting. Robin Hood has been one of the best experiences we’ve had with an “old school” exchange, and we’re super excited that they’re going to be bringing their talents to crypto.

CASH APP HAS BITCOIN! If you sign up through that link the show gets $5 and so do you! Stop the presses. The easiest to use money transfer application (yes it's easier than Venmo) now as a built in way to buy and sell Bitcoin. They even have a no - fee debit card you can use.

Binance Exchange Binance is the primary location for many of the coins that are not available on CoinBase. They have the best user experience, don't use the USDT as a primary trading pair, and have reasonable customer service. Give them a look.

Ledger Wallet Website This is where you buy the hardware wallet that we're always talking about on the show - we all use a Ledger Nano S.

CryptoBasicPodcast@gmail.com

405.440.3260

Theme Music - Neledrax by Earradiate (2017)

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101 Series: Decentralization

101 Series

Decentralization

Brent, Karim, and Mike all sit down for a very special 101 episode. This is the first 101 topic that was decided by a listener. The user Edifice on Discord picked this topic, and the team goes over all of the areas that he wanted to speak about, and also gets wayyyy off topic to talk about a bunch of other tangents. This is one of the longest CryptoBasic episodes, but definitely the one with the smallest percentage of direct crypto references this side of a Fireside Chat. Sit back, relax, and enjoy Decentralization 101.

LINKS TO TOPICS FROM THE SHOW

Vitalik Blog Post: Here’s a Medium post where Vitalik breaks down the different types of decentralization.

Link to a few decentralized exchanges. These are not endorsed by us and do not contain referral links.


HELP SUPPORT THE PODCAST!


PLEASE Subscribe and give us an honest rating on iTunes.

These links are all referral links for us, but we use every one of these exchanges and wallets.

Robin Hood is getting in the crypto game! You get a random stock valued between $5 and $200 and so do we, this is super exciting. Robin Hood has been one of the best experiences we’ve had with a

CASH APP HAS BITCOIN! If you sign up through that link the show gets $5 and so do you! Stop the presses. The easiest to use money transfer application (yes it's easier than Venmo) now as a built in way to buy and sell Bitcoin. They even have a no - fee debit card you can use.

Binance Exchange Binance is the primary location for many of the coins that are not available on Coinbase. They have the best user experience, don't use the USDT as a primary trading pair, and have reasonable customer service. Give them a look.

Ledger Wallet Website This is where you buy the hardware wallet that we're always talking about on the show - we all use a Ledger Nano S.

CryptoBasicPodcast@gmail.com

405.440.3260

Subscribe

101 Series: Research Method

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101 Series

Research Method

The CryptoBasic squad has been trying to tell everyone to do their own research. This is the most important thing in the cryptocurrency world. Price fluctuations don't really matter too much if you understand the tech and believe in the future. The team explains their own research methods, as well as some red flags to be on the lookout for. 

LINKS TO TOPICS FROM THE SHOW

Coincheckup: This is where we usually start our search. There is a lot of great information on here. Be aware that they are financial advisors and they are using this site as advertisement for service. 

Coincap.io: This is our preferred tool to coinmarketcap.com. It shows real time trades as they happen, and has most of the same information.

OnChainFX: This site has some great information on it, but most importantly has some great tools for filtering through the information that other sites don't have. They also categorize each coin, making it easier to determine if it's a Coin/Token/Platform etc. 

CoinMarketCal: This is a site that keeps many important crypto dates on a calendar in an easy to see format. Look for when those big releases, or due dates are coming up.  

HELP SUPPORT THE PODCAST! 

PLEASE Subscribe and give us an honest rating on iTunes. 

These links are all referral links for us, but we use every one of these exchanges and wallets.

CASH APP HAS BITCOIN! If you sign up through that link the show gets $5 and so do you! Stop the presses. The easiest to use money transfer application (yes it's easier than Venmo) now as a built in way to buy and sell Bitcoin. They even have a no - fee debit card you can use.   

Binance Exchange Binance is the primary location for many of the coins that are not available on CoinBase. They have the best user experience, don't use the USDT as a primary trading pair, and have reasonable customer service. Give them a look. 

Ledger Wallet Website This is where you buy the hardware wallet that we're always talking about on the show - we all use a Ledger Nano S. 

CryptoBasicPodcast@gmail.com

405.440.3260

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101 Series: ICOs

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101 Series: 

ICOs

Mike and Brent sit down and discuss the most volatile of all of the volatile investments: ICOs. Mike and Brent openly admit that they don't have the expertise to pick ICO's properly, but they give you the tools you might need to do your own research if you DO get the ICO bug. 

Correction: On the show we say that FUD means "Fear Understanding and Doubt" that is NOT the case, we just misspoke. FUD is a term meaning Fear, Uncertainty, and Doubt and it generally has a negative connotation meaning the person saying it hasn't done their research. 

LINKS TO TOPICS FROM THE SHOW

CoinSchedule: Here's one of the resources that we mentioned on the show. This is the most popular way to check out which ICOs are coming up. With that being said, make sure you understand which ICOs are paying for advertising space, and which aren't.

One of our listeners showed us this interesting resource. This is from the user DipKeeper, and it's presented by @CryptoLammerThe colors at the top show what this person thinks of ICOs. This is obviously very subjective, but could prove a valuable tool. 

Here is ICOTracker. I like this site a lot because it has a ton of information all in the graphic ready for everyone to see without having to start clicking all over the place. 

And finally here's a site called ICOdrops that has a metric for the hype machine that drives these investments many of the times. They clearly identify sponsored content, and they have a rating for hype. 

HELP SUPPORT THE PODCAST! 

PLEASE Subscribe and give us an honest rating on iTunes. 

These links are all referral links for us, but we use every one of these exchanges and wallets.

CASH APP HAS BITCOIN! If you sign up through that link the show gets $5 and so do you! Stop the presses. The easiest to use money transfer application (yes it's easier than Venmo) now as a built in way to buy and sell Bitcoin. They even have a no - fee debit card you can use.   

Binance Exchange Binance is the primary location for many of the coins that are not available on CoinBase. They have the best user experience, don't use the USDT as a primary trading pair, and have reasonable customer service. Give them a look. 

Ledger Wallet Website This is where you buy the hardware wallet that we're always talking about on the show - we all use a Ledger Nano S. 

CryptoBasicPodcast@gmail.com

405.440.3260

Subscribe

101 Series: Moving your Money

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101 Series: 

Moving your Money

This Episode of the CryptoBasic Podcast will take you through all the steps required to move your Dollars into cryptocurrency, store it safely, and then move it back when you're ready to cash out. Dangers and pitfalls will be covered, as well as recommendations on how to avoid both of them.  Join the boys and learn to make money moves. (Yes, that's a dumb joke - sometimes we take the low hanging fruit). 

LINKS TO TOPICS FROM THE SHOW

Eth Gas Station: This is where you need to go to check the current gas prices required to offer when you send an ETH transaction. 

Bitinfo: You can check the average needed transaction costs for BTC and other coins here. 

Etherscan.io: This is the block explorer for Ethereum and all the Ethereum tokens. You can check your transactions here and see how they're doing. 

Blockchain.info: This is the Bitcoin block explorer, so you can track your BTC or LTC transactions here. 

RUN THROUGH OF HOW TO SEND ETH

(This assumes it's already in your wallet, and you need to move it elsewhere)

  1. Go to EthGasStation.info and check the gas prices required.
  2. Use at least the green number for your "Gwei Price" if you don't need it immediately, and use the grey number if you'd like it faster. Just under the speedometer graphic there is a chart showing you expected times of transfer. Gwei set at 1 = .000000001 ETH
  3. Leave the default amount for "Gas Limit" This is the limit of the number of GWEI you will use. If your wallet sets the default to 21,000 change it to at least 28,000 since I've personally had transactions run out of gas at 21,000. If your transaction runs out of gas, you lose all of the gas you offered. 
  4. Go get the ETH address you're sending your tokens to. Check at least the first and last 4 of the address to make sure it's correct, and it should start with 0x. 
  5. Send your ETH and wait at least a couple of minutes. 
  6. Now you can check your ETH transaction on Etherscan.io and see if anything went wrong. If something did, there will be a red ! next to the transaction, and you'll have to change something. 

HELP SUPPORT THE PODCAST! 

PLEASE Subscribe and give us an honest rating on iTunes. 

These links are all referral links for us, but we use every one of these exchanges and wallets. 

Binance Exchange Binance is the primary location for many of the coins that are not available on CoinBase. They have the best user experience, don't use the USDT as a primary trading pair, and have reasonable customer service. Give them a look. 

Ledger Wallet Website This is where you buy the hardware wallet that we're always talking about on the show - we all use a Ledger Nano S. 

CryptoBasicPodcast@gmail.com

405.440.3260

101 Series: Wallets

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101 Series: 

Wallets

Brent sits down with you in a solo session to talk about Wallets. Learn about everything from a brain wallet to cold storage, and get an official recommendation on which one to use. Spoiler: It's the Ledger listed below. 

Links to topics from the show: 

Ledger Wallet Website You can buy it at that link. The Ledger Nano S is the gold standard in Hardware wallets. 

Jaxx Wallet

Electrum Wallet

Help Support The Podcast! 

These links are all referral links for us, but we use every one of these exchanges and wallets. We have removed our KuCoin recommendation. 

Binance Exchange Binance is the primary location for many of the coins that are not available on CoinBase. They have the best user experience, don't use the USDT as a primary trading pair, and have reasonable customer service. Give them a look. 

Ledger Wallet Website This is where you buy the hardware wallet that we're always talking about on the show - we all use a Ledger Nano S. 

CryptoBasicPodcast@gmail.com

405.440.3260

101 Series: Coin/Token/Platform

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101 Series 

Coin/Token/Platform 101

Michael and Brent sit down and talk about the difference between a coin, token, and platform cryptocurrency. Every cryptocurrency functions a bit differently, but in the end they all eventually fall into one of these categories. Also in this episode: insights into our team's crypto dreams (literally - not Lambos folks).

Coins:

  • Bitcoin
  • Dash
  • Monero

Platform

  • Ethereum
  • Neo
  • Enigm

Token

  • OmiseGo
  • Tron
  • Spankchain

E-mail us at CryptoBasicPodcast@gmail.com with questions, comments, and anything else you might want. We don't accept porn at that address, but you can always send SpankChain to our Ethereum address! 

Also: you can give us a call and leave a voicemail at 405.440.3260 and maybe we will play it on the podcast, and probably make fun of you.

Click here to join our Discord Server. Make sure to check out Episode 2 later this week for a tease at what's to come for those that join the discord server early. Don't be left out!

The members of the CryptoBasic podcast are not financial advisors, and this information is provided for entertainment purposes. Please do your own research, and don't listen to these idiots.

The CryptoBasic Podcast is owned and operated by Cipher Consulting Group LLC.