Are you thinking about investing in Bitcoin, Ether, XRP, or some other cryptocurrency?Have you heard about the potential this could represent as an alternative to safer investment options in your overall portfolio?
Or maybe you’ve read up about blockchain technology and you like others think it represents a huge new development and various opportunities.
No matter what attracted you to this space investing in cryptocurrencies for the first time can be daunting, complex, and downright confusing.
I’ve been there, and so has every other cryptocurrency trader or holder at one point. And most of us even with lots of trading or technical experience found the first cryptocurrency transaction and purchase a bit perplexing.
So what I am saying is that I’ve been there, and I’ve found it to be more confusing than it should have been.
Therefore I thought I could create a guide that would make it super easy for anyone, with little or much experience to invest in cryptocurrencies for the first time
And additionally, I will share some of my and other experienced crypto investors tips that will help you get started in the right way.
The overall steps to investing in cryptocurrencies are
But many other exchanges let you store your newly bought cryptocurrency at their exchange.
Where to buy cryptocurrencies at
You can buy cryptocurrencies, and I mean real coins and tokens and not investment certificates of them at either:
The reason to use a broker site is
The reason to use a cryptocurrency exchange is
The reason to use a p2p marketplace are
You can find more examples of exchanges here
Recommended p2p marketplaces:
This is how you buy a cryptocurrency at most broker sites, cryptocurrency exchanges, and p2p marketplaces.
Step 1 ) Register an account
This could include providing verification of identity and completing KYC and AML checks.
Step 2 ) Make a deposit/pay with a card
The second step would be to actually buy the cryptocurrency you want. Either with a bank deposit or a card payment. Unless you use a p2p marketplace and agree on cash payment or something different.
Step 3 ) Send your cryptocurrencies to a wallet / store them at an exchange
Finally, you need to decide where to store your cryptos. You can at some exchanges store them there indefinitely, but it is not recommended as you don’t have full control of your cryptos there. And hacks are unfortunately common for exchanges.
What wallets to use to help store your cryptocurrencies
When you own cryptocurrencies you need to consider where you store them and how you want to access them.
We are used to storing our funds in a bank account. And some people think that cryptocurrency exchanges are the same as banks. But actually, in the crypto world, it is often considered that you should be your own bank.
That means you control your coins and tokens and you use a wallet that you control to access them (learn more here).
So I urge everyone to consider this. As there are common risks to leaving cryptocurrencies at an exchange. Some exchanges are better than others of course. But you need to ask yourself what risks are you willing to take?
Useful tips for investing smarter in cryptocurrencies
I hope that this guide was helpful and by now you have a much clearer idea of how to go about buying cryptocurrencies and also storing them safely.
The more familiar you get with space the easier it all will become. And the more it will make sense how it all works.
Some of the significant changes in the manufacturing industry over the past few years are associated with big data. Big data is vital in achieving efficiency and productivity gain as well as unveiling new insights to drive more innovations.
With big data analytics, manufacturers, as well as data analytics companies, discover new information and recognize new patterns that enable them to improve processes, enhance supply chain efficiency, and identify variables that influence production.
Big data stores a massive amount of data and helps analysts to observe, detect, and examine the irregularities within a network. By doing so, big data analytics allows organizations to prevent cybercrimes. Another way to ensure network security is to use a VPN that efficiently encrypts your internet traffic and provides protection against all snooping eyes.
The security-related information available from big data lessens the time required to detect and address an issue, enabling cyber analysts to predict and avoid the possibilities of intrusion and invasion.
The CSO online report revealed that 84% of the businesses are using big data to block cyber-attacks, which are increasing at an unprecedented rate. Moreover, they also said that there was a slight decline in security breaches after introducing big data analytics in their operations.
AI and IoT sensors make it possible to analyze and receive massive quantities of data in real-time. According to a study conducted in 2016, 67% of the manufacturers are investing in big data analytics technology. Many also consider this data as the most valuable asset of the modern manufacturer.
The big data analytics tools can be used to detect cybersecurity threats like malware and ransomware attacks, malicious insider programs, compromised and vulnerable devices. It is where big data analytics tools look most beneficial in improving cybersecurity along with production efficiency.
Read the remaining post to get an insight into how manufacturing analytics improves production efficiency?
Interruption can be a high cost for many owners, as it reduces the overall productivity by 20%. By preserving the automated machines is essential for keeping the production process moving. But, it can be hard to notice machine breakdowns before they occur. The significant changes in temperature, timing, and vibration can be too subtle for human operators to see.
The AI-powered data analysis tools are exceptional at detecting abnormal states. Several wireless sensors rely on second-to-second information about instrument timing, power usage, temperature, and vibration to AI. When some severe changes or patterns occur that are undetectable to an individual, then AI efficiently recognizes these patterns and alerts on imminent failures.
The intelligent big data analytics tools allow the experts to establish a predictive model that can issue a warning as soon as it sees an entry point for some cybersecurity attack. Also, AI proved to be beneficial as three out of the five surveyed firms believed that the use of AI improves the accuracy and efficiency of cyber experts. Here AI and ML play a central role in developing such a mechanism. The analytics-based solutions allow you to gear up and predict all the possible events throughout the process.
This ability gives big data analytics companies time to reroute production, get the replacement parts, or otherwise prepare for maintenance.
Improving Machine Efficiency:
Running at ineffective and inefficient settings can result in a severe resource sink for automated machines. For example, inefficiencies in compressed air systems caused manufacturers to lose 43.2 billion yearly. Proper compressed air systems auditing and monitoring help the manufactures to keep the track records of efficiency and performance.
The sensors continuously monitor these systems and provide manufacturers with a data set that they can use to search for inefficiencies in the system. Does a 25% increase in the power to perform the same work as a 5% increase does? Does a machine is as efficient when it is working at an average temperature versus extreme temperatures? The data gathered by the sensors answers all questions like these.
Different variables, such as instrument power, are usually left entirely in the hands of workers. These employees do not have access to the data required to see how certain power levels or tool settings might be inefficient. With big data collection and analysis, the manufacturer can often look for relationships and patterns between variables like instrument power and production efficiency and later pass that information to the workers, thus reducing energy waste and saving resources.
Demand Forecasting and Supply Source Analytics: