Nowadays, cryptocurrency is all the rage. Everywhere you go people are talking about 'investing in crypto' and buying things like 'dogecoin.' But what is cryptocurrency? How does it work? Is it something worth investing in?
If you are curious to learn more about the world of cryptocurrency and everything that surrounds it, you have come to the right place. There are many things to learn about crypto and its implications, the way it performs in the market and how you should think about investing in crypto as a newbie.
If you live in Kuala Lumpur and want to learn more about cryptocurrency and where you can find a good cryptocurrency tutor, keep reading to learn more about Superprof and how we can help you connect with a true expert on crypto who can guide your investments and make sure you are making the right decisions when it comes to navigating this world.
Keep reading to learn more!
What Is Cryptocurrency?
First things first: what is cryptocurrency? It is important that you know what crypto is all about and how it behaves in the market before you make your first serious investment.
The short definition of cryptocurrency would go as follows: Cryptocurrency is decentralized digital money that’s based on blockchain technology.
Most mere mortals (and people not involved in the financial world) would not understand what that definition entails. What is blockchain technology? What does having decentralized digital money mean?
Let's answer the second question first. Decentralized digital money means that crypto is a form of payment that can circulate without the need for a central monetary authority such as a government or bank. Instead of depending on financial institutions that regulate how money circulates, cryptocurrencies are created using cryptographic techniques that enable people to buy, sell or trade them securely. This makes it nearly impossible to counterfeit or double-spend.
This means that crypto is what is known as a peer-to-peer system that can enable anyone anywhere to send and receive payments. It also means that instead of physical money carried around and exchanged in the real world, cryptocurrency payments exist just as digital entries.
So, what happens when you pay or use cryptocurrency? When you transfer cryptocurrency funds, the transactions are recorded in a public ledger. If you can imagine, it's as if cryptocurrency is stored in digital wallets.
Go here to learn more about the risks of cryptocurrencies, tips to become a better investor and where to study crypto in Petaling Jaya.
What about blockchain technology? This is where things get a bit more technical.
A blockchain is a distributed database that is shared among the nodes of a computer network. It stores information electronically in digital format guarantying the fidelity and security of a record of data and generates trust without the need for a trusted third party.
What is the difference between a regular database and blockchain? One key difference between a typical database and a blockchain is how data is structured. A blockchain collects information together in groups, known as blocks, that hold sets of information. Blocks have certain storage capacities and, when filled, are closed and linked to the previously filled block, forming a chain of data known as the blockchain. All new information that follows that freshly added block is compiled into a newly formed book that will then also be added to the chain once filled.
With a blockchain, everyone who uses a cryptocurrency has their own copy of this book to create a unified transaction record. Software logs each new transaction as it happens, and every copy of the blockchain is updated simultaneously with the new information, keeping all records identical and accurate.
The total value of all cryptocurrencies on Jan. 26, 2022 was about $1.7 trillion. While the market is huge, it is also true that it has fallen since late 2021 when it accounted for $2.9. More than 17,000 different cryptocurrencies are traded publicly.
Bitcoin is the most popular and valuable cryptocurrency. It was invented by an anonymous person called Satoshi Nakamoto. Each cryptocurrency claims to have a different function and specification. For example, Ethereum's ether markets itself as gas for the underlying smart contract platform. Ripple's XRP is used by banks to facilitate transfers between different geographies.
If you want to learn more about why people invest in crypto and how to find the right crypto courses in Ipoh, head to our article.
Where Can I Learn Cryptocurrency in Kuala Lumpur?
If you are interested in learning more about crypto and the best way to invest in the different cryptocurrencies available in the market, there are many schools and organizations across Kuala Lumpur that offer courses and bootcamps on cryptocurrency and the different ways to engage with it:
- The Knowledge Academy: They have a 'Bitcoin And Cryptocurrency Course in Kuala Lumpur' course that is designed to equip delegates with the comprehensive knowledge of the cryptocurrency and Bitcoins. You will learn how bitcoins work and how to secure them. It is a 2- day course, where you will gain an understanding of cryptography hash functions, hash pointer, data structure, digital signatures, and public keys as identities.
- Indian Institute of Technology Kanpur: They have a 'Professional Blockchain Course in Kuala Lumpur' that is designed for anyone interested in upskilling their portfolio in the dynamic blockchain field. This blockchain training in Kuala Lumpur explores real-world applications with world-class instruction and hands-on projects. They teach Bitcoin, Hyperledger, Ethereum, Ripple, and Multichain blockchain platform concepts.
- iCert Global: They offer a Blockchain Certification course that will introduce you to the Blockchain concepts, fundamentals and its implementation. The course covers concepts about cryptocurrency, Bitcoin, Ethereum development platform, developing and deploying smart contracts from web and console. This course will help you to understand the setup of private blockchain using Multichain platform. If you are new to Blockchain, then this course will help you understand about transaction, the consensus in transaction, and the storage of transactions in Blockchain.
- TCourses: They offer a Basic Blockchain and Bitcoin Course where you will learn everything about Blockchain technology, Use Cases of blockchain technology, Cryptocurrency, Bitcoin and Bitcoin Mining and Tokenomics and Non-Fungible Tokens (NFT).
- Centre for Advanced and Professional Education (CAPE): This course is designed to expose the participants to the fundamentals of blockchain technologies, their working structure, concepts of cryptocurrency, and Bitcoin application. Participants will also learn why blockchain is going to revolutionize businesses, what benefits blockchain can bring to businesses and discuss industry business models.
Another option for you is to participate in one of the many crypto events and workshops that are organized across Kuala Lumpur. Websites like EventBrite are a good place to check out all of the different get-togethers and events that are happening in the city.
From 'Learn about Cryptocurrency Trading using Bot' to 'Certified De-Fi (Decentralized Finance) Associate', there are many different events happening in venues all across town.
An example is the event 'Certified Crypto Associate | Kuala Lumpur' which "presents you with an opportunity to understand the basic concepts of blockchain technology, and what makes it so special in today’s technologically advanced world." They aim to empower you with concrete knowledge and understanding of various dynamics of cryptocurrency trading and enable you to get started and grow your cryptocurrency portfolio.
Do you want to learn more about the types of cryptocurrencies and where you can study crypto in Seberang Perai?
Learn Cryptocurrency with a Private Tutor in Kuala Lumpur
If you are looking to learn about crypto in a one-on-one setting with someone who can give you personal tips and tricks on how to master the world of crypto then Superprof will be the best ally for you.
What is Superprof? Superprof is a platform that connects tutors or teachers all over Malaysia with prospective students. These tutors or teachers have courses on various subjects and crypto is not the exception.
But how does it work? It is quite easy. All you need to do is conduct a quick search on crypto tutors in your area and see the different profiles available to you. The tutors' profiles are all very different, they have diverse experience with crypto and the investment market which is why we advise you to look at their description and professional experience thoroughly in order to find the best possible tutor for you.
For example, Felisa has been "trading Crypto Currency for 6 years. I have been guiding people from all over the world for 4 years. I would love to guide and coach people from opening a wallet to the right platform approved by the security commission in Malaysia. I was in Management and Marketing field for 20 years before I embarked on Crypto."
For an hourly rate of RM88, Felisa could be your crypto tutor. That said, the average hourly rate for crypto courses in Kuala Lumpur is RM69 so you could potentially find a less expensive tutor, it all depends on how much you want to spend and the experience that you are looking for.
Make sure to check out all the available options so you can pick the best possible crypto tutor in Kuala Lumpur and start diving into the world of crypto!
If you want to learn more about the history of crypto and how you can learn crypto in Georgetown, go to our article.
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