The CryptoCurrency Codex is a program designed for people who are interested in learning how to use the crypto market in order to earn some serious cash, but they don’t have the time to spend researching potential solid trade options.
The software that comes in this package is designed to provide the user with an edge on the market and a way to make money without having to sit behind a computer screen around the clock.
This program offers simple to follow methods for buyers, sellers, and traders of every skill level who want to make a profit by exploiting the market. For people who think it’s too difficult to make money with digital coins, this program can be a great buy and one that will give you an in-depth look at the variety of methods you can use to make enough money to supplement your income and then some.
With the purchase, you’ll get a main guide that introduces the reader to the wonderful world of digital coin. The author does his best to describe the market, how it works, what digital coins to keep an eye out for and how important it is to pay attention to constantly fluctuating market conditions.
Basically, the main guide is designed to give you the lowdown on the crypto market.
The package comes with several bonuses that focus on different areas of the market ranging from mining and trading, to a guide on altcoins that show some serious promise.
For some, this program can be a great tool for anyone who wants to learn more about cryptocurrency and how to identify up and coming coin.
The program can also teach you how to come up with seed money that you can use to turn into more coin.
With purchase, buyers will get:
- Crypto bot
- Information on lesser-known coins
- How to choose the right crypto exchange
- The Ten Commandments of crypto
Kendrick also invites buyers to join his private Facebook group where members can interact and network with seasoned crypto buyers and sellers.
Trading crusher is a video course on crypto trading. This video features a short step by step guide on how you can trade crypto and easily turn a profit, just like the pros.
Mining mastery will give beginners an inside look at the cryptocurrency world and how a computer can be turned into a digital coin money making machine around the clock.
The Storage Secrets Bonus is another video course. This video will provide a closer look at the benefits of the crypto world and how you can keep your digital currency safe, away from hackers.
Buyers will also enjoy free program updates for life. This means every time the author updates the program you can download it for free and read new material, although how often the author actually updates the program we cannot say. When an update is made, you’ll be notified via email.
This program is designed to teach people who are new to the cryptocurrency market how to use a wide range of tips, tricks, and strategies that can help them make money trading and mining.
Who is Patrick Kendrick?
The creator of the CryptoCurrency Codex is a man named Patrick Kendrick. He’s also the head of crypto trading and mining at the Cryptocurrency Institute. He claims he has designed the perfect program that can teach readers exactly how to manipulate the market in order to make money. He offers this program as a step by step guide that can be used as a resource you can rely on to make money with crypto, but does this program really work?
Can this program really help readers save countless hours that would otherwise be spent researching trades?
If you decide to purchase the CryptoCurrency Codex, you’ll immediately be taken to the step by step guide, where you’ll start learning about the alleged loophole the author has discovered that can help you make money with crypto. Whether or not this program really works and whether it’s really worth of the hype surrounding it remains to be seen.
So, let’s get started with this in-depth CryptoCurrency Codex review by first learning more about how the cryptocurrency market really works and how people use it to make a profit.
How the Cryptocurrency Market Works[ichcpt id=”72″]
If you ignore all the hype that surrounds the crypto market these days, you’ll see that it’s basically just a market for digital currency. This currency is transferred between people and confirmed with crypto mining.
Mining involves placing the transaction in the blockchain, which is a public ledger.
If you’re new to crypto, you should think of it as the rough equivalent of Paypal, however, the numbers on your screen represent crypto coin instead of dollars.
In order to actually use these digital coins, you first need to understand the concept behind cryptography, digital coins, and the blockchain.
The basics behind digital coins are actually pretty simple. This kind of currency works like a debit card, however, the big difference between cryptocurrency and a debit card is that an algorithm takes over the process instead of a bank keeping ledgers.
Digital currency is transferred between peers, which means there isn’t a middleman to deal with. Every crypto transaction is recorded in a digital public ledger. Both the transaction and ledger are encrypted with the use of cryptography, which is where the name cryptocurrency comes from. This entire process is operated by users and an algorithm. By far, the most popular digital coin is bitcoin, and it’s used, sold, purchased, and traded all over the world. Since the rise of bitcoin, there hasn’t been another coin that can quite compare, although some have come close.
Digital coin transactions are very simple. Payments are sent between a buyer and seller with the help of a digital wallet. This is accomplished by matching the codes that relate back to a private password only help by the wallet’s owner. This transaction is then placed in the blockchain. Once a person sends or receives currency, they will send it from one digital wallet to another.
If you use the crypto market, you’ll have access to the public ledger. Everyone who buys and trades crypto can download the blockchain.
The transaction amount is made public but not the info regarding who sent the transaction. That information remains encrypted.
Every day, twenty-four hours a day, transactions are added to the blockchain. Because several transactions can be added to the BC at the same time, they are added sequentially.
In the cryptocurrency market, you can trade one crypto for another using the best cryptocurrency exchange. If you make a good trade using the CryptoCurrency codex bot software, you can potentially make more money compared to researching the market conditions on your own and hoping for the best. Of course, trading on your own, without the help of trading software can take several hours of research. If you’re a beginner, this may be a very good learning experience for you, but one that will definitely cost you. Which is why the CryptoCurrency Codex is quickly making a name for itself among beginners in need of more market guidance.
For many beginners, the private Facebook group is a big selling point since they can interact with seasoned traders and possibly get the inside scoop on the next top altcoin, but really, there are so many members that getting your questions answered can be incredibly difficult. Although it is a great spot to visit regularly considering it’s a very active page. While you may not get your questions answered, you can still read posts and get some great insight into how the market works.
This package also comes with a crypto video training course called Trading Crusher. Many of the tips and steps in this course are common sense, but there are some gems in there as well. Essentially, it’s a good program for green traders.
Here is some of the information you’ll find in the course:
- When you trade on the crypto market, the number one rule is to pay attention and focus. You should also keep in mind that trading isn’t for everyone. You may be better off sticking to flipping coin or mining.
- Before entering a trade, have a reason. Only start a trade when you have a clear strategy for afterwards.
- Not every trader will make a lot of money from trading, considering it’s a zero-sum game. The altcoin market is mainly driven by whales. These whales often hang back patiently waiting for innocent newbies to make basic mistakes.
- Even if you have a goal of trading on a daily basis, there will be some days when it’s better to not make any moves at all, as opposed to jumping in and exposing yourself to coin loss.
- For every trade, you must set a clear target level when it comes to taking profit. More importantly, you need to have a stop loss level in place for cutting losses.
- Digital coins in general are considered a volatile asset. This is a fact you must always keep in the back of your mind. Altcoins and bitcoin have an inverse relationship in value. This means when altcoin value rises bitcoin is losing its value, and vice versa.
- When bitcoin is volatile, the trading conditions can be kind of foggy. When the market is foggy you won’t be able to see much in terms of future market conditions. In cases such as these, it’s best to have close targets for your trades. For some, it may be better to not trade at all.
- Over time, most altcoins tend to lose their value. Why? These coins simply end up slowly bleeding their value away. When you’re holding, always take this into account, especially if you’re holding for the long haul.
- Always leave your ego out of the equation. The goal here is to make a profit, not to be right on your trades. Never waste money and time trying to prove to yourself that you should have been entering that trade. Keep in mind that every trader loses sometimes.
- Almost every green trader will join a social media platform for signals and tips. While there’s nothing wrong with that, you still need to do your own research. You’ll commonly run into people posting on social media who claim that a particular coin is going to break through at any minute. But if you listen to this type of hype, you’ll most likely lose your money at a rapid rate. These tips are usually made by paid promoters, or even members of pump and dump groups who create this hype in order to get you to buy so they can make money. Then their coin will plummet, and you’ll be left with nothing. Always do your own research. This is probably the most important tip you’ll find in Trade Crusher.
- Many traders think technical analysis is overrated or too complicated. However, it’s been proven that coin prices and market movements do have patterns that can be identified. That being said, if you want to be a serious trader, learn about the market and understand the basics such as trendlines, and support and resistance zones.
Identifying Up and Coming Altcoins
Patrick also includes information on what he feels will be the best crypto coins to keep your eye on. Considering the market is so volatile, and a coin that’s big news today may be old news tomorrow, we don’t recommend putting your hope or all your money into any of these particular coins. However, he does go on to discuss what to look for in a promising new coin.
But again, we find ourselves back at the same point we mentioned earlier and that’s how important it is to do your own research.
Never rely on recommendations or tips from other traders or social media.
You have to learn how to read the market and pay attention to your instincts.
Before you decide to invest in a new coin or a promising coin, you need to find out the following about the coin:
- Market volume
- Launch date
- Current price
- Which exchanges have listed the coin
Using just this basic information you should be able to reject most coins. Many of the altcoins will have a very low market cap and price. Others will be listed solely on Chinese exchanges. Make sure you only invest in altcoins that are listed on Kraken, Bittrex, or Poloniex, all of which cover the majority of legible coins.
Kendrick also recommends learning about the team that’s involved in the project. Do the coin’s creators have experience working on blockchain projects? Do they have a history of working on any tech projects? The majority of the time, you’ll see random names you aren’t familiar with. Just by doing a simple search on Linkedin or Google can help you determine if the person’s only major contribution was launching that particular coin.
How is the coin used? There are different types of coins on the market. Some are used like straight currency, such as Litecoin or bitcoin, and there are coins that can be used to pay services on their platform.
The author gives us more confidence in his program by advising beginners to do their research, something that can really give any trader, buyer, and seller, an edge in the market.
The CryptoCurrency Codex also comes with a small course on what crypto mining is all about. If you’re totally new to crypto, then you probably have no idea what mining is.
So, let’s break it down for you.
As we mentioned, every transaction is collected into a block and added to the blockchain. The block must be authenticated by a miner. The miner will ensure that the same digital coin has not already been spent before a transaction has had time to clear. The next block in the transaction will be linked to it. This is how new currency is created.
Because there is no central authority in the crypto world, a person must collect all transactions in order to form a block. This is what the miner will do. Each time a new bundle of transactions comes in and has been collected into a block, the block is added to the blockchain. The person who assembles the block is rewarded with digital coins. However, the task of creating blocks has been made significantly hard in order to prevent miners from devaluing coin when creating large volumes of blocks. So, how has the crypto world made it harder to earn coin via mining?
Becoming a Successful Miner
In order to successfully mine these days, miners are required to solve proof of work problems. These are mathematical puzzles. However, these mathematical puzzles cannot be too difficult considering the speed of the blockchain heavily depends on how quickly these puzzles are solved.
The CryptoCurrency Codex includes a short video course on mining called the Mining Mastery program. The course will teach you about crypto mining and how to set up your own mining system.
However, these days, considering the complexity of some of these proof of work puzzles, not to mention the type of competition you’re dealing with, you’ll need more than just your home computer in order to make money mining.
Since the rise of bitcoin led to new crypto, these coins are definitely easier to mine than bitcoin, but doing so requires a major rig setup, and even then, you’re not going to make enough money mining to count it as an actual income. It may contribute two or three hundred dollars a month, depending on the coin your mining and your mining setup.
Digital Coin Storage Tips
The author includes a guide on how to keep your digital currency safe from hackers. This information isn’t anything new. But it’s an important lesson that any beginner should know more about in order to protect their coin. Of course, most of these storage tips are considered common sense by seasoned buyers, sellers, and traders.
Let’s look at some of the basics of this guide.
First, before you even begin buying or trading, you must have what’s known as a digital wallet. A digital wallet features a private key that allows users to access their coin address. If the software is well-designed, it’ll look as though your coins are actually there, which can make using your coin more intuitive and convenient. A digital wallet will usually hold many private keys. Most serious investors will have several wallets and will never store all of their coin in a single wallet. A seasoned trader also knows better than to keep their coin in an exchange’s digital wallet. Even the best cryptocurrency exchange is vulnerable to hackers. In the event of a hack attack, if your money is taken, it’s just gone.
How it All Works
A crypto wallet can actually live on your mobile device or computer, on a piece of paper, or on a physical storage device.
A digital wallet can be hosted in the cloud or downloaded. A downloaded wallet consists of formatted files that live on your device or PC. A hosted wallet is said to be more user-friendly, however, with this type of wallet you’re essentially trusting a third party to keep your key private.
Installing a wallet on your PC will give you the ability to easily control your keys. Most software wallets are free and easy to configure. The drawback is that they require more maintenance in terms of backing up your info. If your PC becomes corrupted or gets stolen and you don’t have your keys stored anywhere else, then you’re out of luck. You’ll also need to use certain types of security precautions to keep your coin safe, in the event your PC is hacked, and a thief gets their hands on your private keys.
These days, most digital coin wallets are simplified payment verification wallets, which don’t download the entire ledger and instead will sync to the real thing. Some programs also offer cold storage, which is a totally offline option that offers improved security. Other programs are able to track a variety of assets using a sophisticated interface. You can also use a wallet that can store more than one person’s assets.
Keeping Your Coin in the Cloud
The cloud-based wallets are said to be more convenient, mainly because you can access your coin from any device using your password. They’re also really simple to set up and come with mobile apps and desktop apps that make it easier to receive and spend your coin. Most of these programs are also free.
But again, the downside to using any type of online wallet is the lower security. With your key stored in the cloud, you have to basically rely on the company’s security and hope they don’t get hacked or close down.
Some of the major companies in the online digital wallet world are attached to exchanges such as Coinbase. Many of these wallets offer extra security features including offline storage.
Mobile Digital Coin Wallets
Mobile wallets are basically just apps you’ll download on your smartphone. If you’re someone who’s glued to your phone, then having this type of instant access to your funds will be essential and very convenient, especially if you want to head over to an online shop that accepts bitcoins.
A hardware wallet is just a small device that you use to connect to the interact for coin-based transactions. A hardware wallet is very secure and is stored offline, which means a hacker won’t ever have access to your funds. However, the big downside here is the fact that they can get stolen or lost. Whereas if you used a mobile wallet or one that was cloud-based, you could always have access to it. If you have a large amount of digital coin saved up, many pros recommend storing your hardware wallet in a vault or another type of secure location, such as a bank.
Choosing the Best Storage Option for Your Coins
Out of all of these storage options, the simplest is the paper wallet. A paper wallet is simply a piece of paper which the public and private keys of your coin address are printed. Paper wallets are ideal for long-term storage, or if you’re giving cryptocurrency as a gift. These wallets are considered very secure because they aren’t connected to a network. However, just like with a hardware wallet, they can be easy to lose.
You can easily find a wallet generator service online that will create a new address, so you can print your paper wallet using your printer. It’s that simple.
But are these wallets safe? Patrick Kendrick seems to think so and emphasizes the importance of keeping both an online and offline wallet. Of course, you should keep the majority of your coin offline, but you should also take extra precautions and store it somewhere safer than your desk drawer.
Whether or not a crypto wallet is safe will depend on the format and version you’ve chosen, and of course, how you use them.
The author feels that keeping your wallet online is the least secure option considering the key will be held by a third party. Beginners often make the mistake of storing all of their coins online because it’s the easiest and most convenient option. The author recommends keeping a small portion of your coin online only. This should be what you use to buy coins with. But at the end of the day, the coins should be transferred offline. This is actually a pretty smart move on the author’s part and it’s totally reasonable, but how many beginners will follow this advice?
In the age of technology, convenience often trumps security.
Whichever option you end up choosing, make sure you play it smart and back everything up. Never tell people about your storage methods, and above all else, never give anyone, friends included, your password.
The author includes some more great tips on coin storage, which definitely makes this portion of the program worth a read in our opinion.
The CryptoCurrency Codex utilizes a trading bot, so your trades will be automated. This means you won’t have to spend hours glued to your PC. The program itself is designed to help you earn around the clock, even when you’re sleeping. But even the beginner will have an issue with giving a program power over their coin. Just how good is this bot program anyway?
How the CryptoCurrency Codex Bot Program Works
Using a trading bot program to manage crypto trades is nothing new, in fact, there are dozens of leading bot programs on the market currently, many of which can outperform the bot program in this crypto package.
So, how does this bot program work?
This is a computer program that uses a variety of indicators in order to recognize market trends, which it will use to automatically execute trades. While initially, algorithmic program were used by hedge funds in the currency, commodity, and equity markets, bot programs for private investors initially appeared in the forex market. These days, they have quickly made their way into the homes of crypto trading enthusiasts with the hope that this program and many like it can give them an edge over other traders and allow them to make coin around the clock.
As we mentioned, there are several bot programs to use, ranging from free software programs that anyone can download to expensive bots that are subscription based and designed for pro day traders. However, even popular programs tend to vary in profitability, usability, and quality.
But are there any risks associated with using this trading program by Kendrick?
What Are the Risks?
Whenever you hand your coins over to a third party, whether it’s a trading software program or a fund manager, you’re taking a risk. In this case, since trading programs like this one are only a few years old and being used in a volatile liquid market, the risks tend to be even higher. There’s also the added risk of running into glitches when using this program or any other type of trading bot. And the result? Heavy losses caused by falling victim to a scam or flash crashes.
Not all bot trading programs are created equal. Does this program have what it takes or is it a poorly coded trading bot that has faulty or subpar software? Considering there are many options out there that include bots with better reputations, we wouldn’t recommend solely relying on this program to make you money. We definitely wouldn’t trust it to handle large sums of money. If you do, you’ll likely end up losing coins.
Flash Crash Risks
What are flash crashes you ask? Using a trading bot can lead to heavy losses in a matter of seconds if the user has not set a stop loss limit on their trade. These crashes occur more commonly than you think in this type of highly volatile market. The market is still largely unregulated, which poses a risk to traders who allow this type of bot program to automatically make a trade on their behalf.
While it’s definitely not the case with this program, you should also be aware, if you decide to choose a bigger and better bot program, it can easily turn out to be a scam. While this tends to be a problem that’s more common in the forex market, these scammy programs have also been found in the crypto world. At the very least, you know this program is safe.
The Truth About Passive Income
Patrick Kendrick claims that his bot program is a great way to generate passive income. But trading bots should be used as a tool not as a passive income generator.
When it comes to these trading bots in general, it’s important to highlight the fact that these programs are not a good passive income solution that will help to make you money as you’re sleeping. This program promises that it can make you rich while you sleep, which gives it a scammy feel. It’s simply not true.
While it will allow you to set specific parameters which it will follow when executing trades, these parameters must be back-tested and adjusted frequently. The crypto market is constantly evolving and growing daily. Which is why the type of trading strategies you use must be adjusted and updated constantly in order to function in new market conditions.
This program, in particular, is by no means a set it and forget it solution. It should only be used with a small amount of coin considering the risks can be higher than they would be if you made the trades yourself, even if you’re a beginner.
Summing it Up
Ultimately, the bot is designed to make trades on your behalf, but you’ll be in charge of setting the trade parameters, so you will have some control over a trade, but many have found that the bot doesn’t have the power to take into account how volatile the market is. This means, if the market suddenly changes, the bot will still make a trade based on the parameters you have set, essentially costing you a lot of coins as you’re sleeping. For small trades, the bot isn’t a bad idea, but we aren’t confident in its ability to handle a larger account.
What are the Benefits of the CryptoCurrency Codex?
This is a good program for beginners who are not familiar with the crypto market, but even a beginner should not solely rely on the materials in this package. As we’ve mentioned the market changes on a daily basis. The trading strategies, market prices, and value of coin change by the minute. Mining also continues to become more challenging.
With this information in mind, we consider the CryptoCurrency Codes a great program to use to become familiar with the market and a way to gently ease into mining, trading, selling, and buying, but it by no means should be a program you rely on religiously when determining your moves in the market.
- Beginner friendly
- Facebook group membership
- Free updates for life
- Priced affordably
- This program can be downloaded and viewed on any type of device
- This program appears to be more directed at beginners
- Much of the information in the program can easily be found online
What Can You Take Away from the CryptoCurrency Codex Program?
According to the author, this program is said to have a ninety-six percent success rate. The trading methods detailed in the program are said to be low risk, however, these simple trade techniques can easily be found online, so don’t expect impressive results.
This is one of the online crypto programs that’s beginner friendly. The program will walk you through the world of crypto, discussing how it works, you’ll get an in-depth at how the blockchain works and how you can earn an income via mining.
While the author does a good job of trying to simplify the world of cryptocurrency, this program is merely a starting point and shouldn’t be relied on as a serious tool for making money in the highly competitive world of cryptocurrency.
However, the program can still offer some great pointers that can teach you about the basics of mining and trading.