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Old 26th June 2017, 06:02 PM
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moltuae moltuae is offline
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Join Date: Sep 2014
Location: East Lancs.
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I'll add more info as I have time but just few more points to note:

Use a wallet for which YOU hold the private keys and NEVER leave any more of any cryptocurrency on an exchange than you can afford to lose. Exchanges are centralised organisations that can and do get hacked. Crytpocurrencies are distributed/decentralised and are very secure as long as you own and protect your private keys.

Examples of Bitcoin wallets are:

Armory: This is a 'full-node' wallet that downloads and validates the entire blockchain. As such it can take hours (even days) to synchronise the first time you run it. You can make 'paper backups' of Armory wallets.

Electrum: This is a 'seed' based wallet. A long passphrase is used as a seed to generate your private key, which in turn is used to generate lots of public addresses that you can use for receiving and storing funds. You only need your original seed and chosen password to recover this type of wallet on another computer/device.

Mycelium: While Electrum is also available as mobile app it's a bit clunky. Mycelium is one of the better mobile wallets.

Another good one for multiple cryptocurrencies is Jaxx.

On the point of other cryptocurrencies or 'altcoins' as they're often called, there are hundreds. You can get the info on most of them here:
https://coinmarketcap.com/

Many, like Ethereum, have amazing potential and lots of features. In fact, technically Ethereum isn't a currency at all. The currency called 'Ether' is the 'gas' that runs the Ethereum network, a network that is in fact a distributed platform (comprising of thousands/millions of computers) that can actually run applications, execute 'smart contracts' and so much more.


Be aware though that there are a lot of junk coins (aka 'sh1tcoins'). Some are just not worth investing in while some are downright scams.
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