tastytrade Crypto Bible

The world’s first successful cryptocurrency. Bitcoin is a decentralized digital currency that you can buy, sell and exchange directly, without an intermediary like a bank. There is a finite supply, only 21 million bitcoins can be produced. The Bitcoin blockchain is a full record of the network’s history validated by individuals running the Bitcoin software (nodes). This ensures that unlike most digital data, which can be freely copied and modified, bitcoins cannot be. Because bitcoins are scarce, divisible and transferable, bitcoins are used as money.

Bitcoin Cash was started by bitcoin miners and developers concerned with the future of the cryptocurrency and its ability to scale effectively. In August 2017, some miners and developers initiated what is known as a hard fork, effectively creating a new currency: BCH. BCH has its own blockchain and specifications, including one very important distinction from bitcoin. BCH has implemented an increased block size to accelerate the verification process, with an adjustable level of difficulty to ensure the chain’s survival and transaction verification speed, regardless of the number of miners supporting it. Bitcoin Cash is thus able to process transactions faster than the Bitcoin network, meaning that wait times are shorter and transaction processing fees tend to be lower.

The decentralized Ethereum network makes it possible to create and run applications, smart contracts and other transactions on the network. Ethereum is different from Bitcoin in that the network can perform computations as part of the mining process. You can use Ether as a digital currency in financial transactions, as an investment, or as a store of value. Ethereum is the blockchain network on which Ether is held and exchanged. Perhaps one of the most intriguing use cases involving Ether and Ethereum are self-executing contracts, or so-called smart contracts. Like any other contract, two parties make an agreement about the delivery of goods or services in the future. Unlike conventional contracts, lawyers aren’t necessary: The parties code the contract on the Ethereum blockchain, and once the conditions of the contract are met, it self-executes and delivers Ether to the appropriate party.

Litecoin can produce a greater number of coins than Bitcoin and its transaction speed is faster. Was intended to be a “light version of Bitcoin.” Litecoin distribution can accommodate 84 million coins compared to Bitcoin’s 21 million. Litecoin was founded with the goal of prioritizing transaction speed, and that has proven an advantage as it has grown in popularity. As of March 2021, the total value of all bitcoins in circulation is around $1 trillion, making its market cap more than 70 times larger than Litecoin, which has a total value of $13.7 billion.

For cryptocurrency, Cryptocurrency trading provided by Zero Hash Liquidity Services LLC, and cryptocurrency custody provided by Zero Hash LLC. Cryptocurrency assets are not held in your brokerage account with tastytrade. Zero Hash is a licensed virtual currency business by the NYDFS and is a licensed money transmitter in jurisdictions where so required. Zero Hash is not a registered broker dealer or a member of FINRA or the NFA. Cryptocurrencies are not FDIC insured or protected by SIPC. Cryptocurrency trading is not suitable for all investors due to the significant risks involved, including volatile market prices, illiquid market conditions, lack of regulatory oversight, market manipulation, and other risks. You are solely responsible for evaluating your financial circumstances and determining whether or not trading cryptocurrencies is appropriate for you. Before you trade cryptocurrencies, please read the General Risks of Digital Assets risk disclosure.

Only the following cryptocurrencies are available: BTC, BCH, ETH, and LTC. tastytrade, Inc. is not an affiliate company of Zero Hash Liquidity Services LLC or Zero Hash LLC.

TASTYTRADE, INC. IS A MEMBER OF NFA AND IS SUBJECT TO NFA'S REGULATORY OVERSIGHT AND EXAMINATIONS. HOWEVER, YOU SHOULD BE AWARE THAT NFA DOES NOT HAVE REGULATORY OVERSIGHT AUTHORITY OVER UNDERLYING OR SPOT VIRTUAL CURRENCY PRODUCTS OR TRANSACTIONS OR VIRTUAL CURRENCY EXCHANGES, CUSTODIANS OR MARKETS.

tastytrade, Inc. (“tastytrade”) does not provide investment, tax, or legal advice. tastytrade’s website and brokerage services are not intended for persons of any jurisdiction where tastytrade is not authorized to do business or where such products and other services offered by the tastytrade would be contrary to the securities regulations, futures regulations or other local laws and regulations of that jurisdiction. Options involve risk and are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially significant losses. Please read Characteristics and Risks of Standardized Options before deciding to invest in options.

Futures accounts are not protected by the Securities Investor Protection Corporation (SIPC). All customer futures accounts’ positions and cash balances are segregated by Apex Clearing Corporation. Futures and futures options trading is speculative and is not suitable for all investors. Please read the Futures & Exchange-Traded Options Risk Disclosure Statement prior to trading futures products.

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BITCOIN (BTC)

BITCOIN CASH (BCH)

ETHEREUM (ETH)

LITECOIN (LTC)

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