Business

Understanding Cryptocurrency Basics Before Buying Crypto

Published

1 year ago

July 28, 2024

The digital revolution has propelled cryptocurrency to the forefront of finance, captivating investors and enthusiasts alike. It represents a potential paradigm shift, offering a decentralized financial future with greater user control.

However, navigating this exciting yet volatile market requires a solid foundation in its core principles. And after reading this guide, you’ll be well equipped to make informed decisions.

We’ll explore the fundamentals, including the revolutionary blockchain technology that underpins it. We’ll delve into the benefits and risks associated with cryptocurrency, equipping you to weigh the potential rewards against the inherent challenges.

But knowledge is just the beginning. This guide equips you for action. We’ll explore the different types of cryptocurrencies and guide you in selecting projects aligned with your investment goals.

More importantly, you’ll learn how to create your wallet to secure your holdings and, most critically, generate a strong wallet keyphrase – your master password to your crypto. Remember, safeguarding this keyphrase is paramount, as losing it means losing your investment.

By the end of this guide, you’ll be well-equipped to enter the world of cryptocurrency with confidence, understanding its potential and possessing the tools for responsible participation.

What is Cryptocurrency?

Cryptocurrency breaks away from traditional currencies by existing solely in the digital realm. It bypasses central banks and instead relies on cryptography and decentralized networks (blockchains) for security and exchange.

Key Concepts:

Blockchain: A distributed ledger technology that acts as a secure public record of all transactions. Imagine a giant, shared spreadsheet constantly being updated and verified by a network of computers. This eliminates the need for a central authority to oversee transactions.
Cryptography: Acts as the secret ingredient in cryptocurrencies. These sophisticated encryption techniques safeguard transactions and meticulously control the creation of new units, making counterfeiting and double-spending virtually impossible.
Mining: The process of adding new transactions to the blockchain and releasing new cryptocurrency units (for certain currencies). Miners wield powerful computers to solve intricate mathematical puzzles. The victor in this digital competition is rewarded with newly minted coins, adding to the cryptocurrency circulating supply.
Wallets: Digital storage solutions for your cryptocurrency holdings. There are different types of wallets, each with its own security features and functionalities.

Benefits of Cryptocurrency: A Deeper Dive

Cryptocurrencies offer unique advantages that are revolutionizing how we think about money and financial transactions. Here’s a closer look at the key benefits:

Decentralization and User Control: Unlike traditional currencies controlled by central banks, cryptocurrencies operate on decentralized networks. This means no single entity can manipulate the money supply or dictate transaction fees. Users have greater control over their finances and can send and/or receive funds directly without relying on intermediaries like banks.
Enhanced Security: Blockchain technology forms the backbone of most cryptocurrencies, providing a robust security framework. Transactions are encrypted, chronologically recorded on a public ledger, and verified by nodes (network of computers). This distributed ledger system makes it extremely difficult to tamper with transaction records, reducing the risk of fraud and counterfeiting.
Transparency and Trust: All transactions on a blockchain are publicly viewable, offering a level of openness absent in traditional financial systems. This allows participants to verify the legitimacy of transactions and fosters trust between participants who may not know each other. Additionally, the immutability of the blockchain ensures that transaction records cannot be altered, further bolstering trust in the system.
Faster and Potentially Lower-Cost Transactions: Cryptocurrency transactions can be significantly faster than traditional bank transfers. This is especially true for international payments. Cryptocurrencies can reduce transaction fees by eliminating the need for intermediaries and streamlining the process. However, it’s important to note that transaction fees on some blockchain networks can fluctuate depending on network congestion.
Borderless Transactions: Cryptocurrencies transcend geographical borders. Unlike traditional currencies restricted by national boundaries, cryptocurrencies can be sent and received anywhere in the world. All it takes is an internet connection. This eliminates the need for currency exchange and associated fees, making conducting international transactions easier and cheaper.
Potential for Programmable Money: Certain cryptocurrencies, particularly those built on the Ethereum platform, leverage smart contracts – self-executing code that can automate transactions based on predetermined conditions. This opens up a world of possibilities for programmable money, enabling applications like automated payments, escrow services, and decentralized finance (DeFi).

Risks and Challenges:

Volatility: Cryptocurrency prices can fluctuate significantly – a major downside for those seeking stability.
Regulation: As a relatively new technology, cryptocurrency regulations are still evolving, leading to uncertainty.
Security Risks: Crypto wallets and exchanges can be vulnerable to hacking and cyberattacks. Users need to be vigilant about security measures.
Environmental Impact: This refers to the energy consumption required for mining specific cryptocurrencies is a growing concern.

Different Types of Cryptocurrencies:

Bitcoin is the first and largest crypto by market cap, known for its limited supply and decentralized nature.
Ethereum: A platform for building decentralized applications (dApps) with its own cryptocurrency, Ether (ETH).
Stablecoins: Cryptocurrencies pegged to a stable asset (fiat currency) like the US dollar, aiming to reduce price volatility.
Altcoins: A broad term encompassing all cryptocurrencies other than Bitcoin. There are thousands of altcoins with diverse purposes and functionalities.

Before You Buy Crypto:

Do Your Research: Don’t just follow the hype. Before investing, understand the project, its technology, and its potential use case.
Define Your Investment Goals: Are you looking for a short-term trade or a long-term investment? This will guide your choice of cryptocurrency.
Only Invest What You Can Afford: Cryptocurrencies are risky investments. Only invest what you’re comfortable potentially losing.
Choose a Reputable Exchange: Select a reputable and secure cryptocurrency platform to buy and sell your crypto.
Learn About Wallets: Understand the different types of wallets (storages) and choose one that suits your needs and security preferences.
Stay Informed: Keep yourself updated on cryptocurrency news, regulations, and technological advancements.

Additional Considerations:

Taxes: Depending on location, cryptocurrency transactions may be subject to capital gains taxes.
Security: Always practice safe online practices and store your cryptocurrency securely.
Scams: Be cautious of scams and Initial Coin Offerings (ICOs) that typically promise high returns with little risk.

Conclusion

Cryptocurrency offers a glimpse into the (potential) future of finance, but it’s a complex and evolving landscape. By educating yourself, understanding the risks and benefits, and approaching it cautiously, you can make informed decisions about buying cryptocurrency and potentially participate in this exciting revolution.

Remember: This guide is a starting point; there’s always more to learn. Explore reliable resources like educational websites, articles, and white papers (a document outlining a cryptocurrency project) to deepen your understanding. Invest responsibly and never stop learning!

Business

Cardiff Airport announces special Air France flights for Six Nations

Published

3 hours ago

December 4, 2025

Tom Sinclair

Direct services to Paris-Charles de Gaulle launched to cater for Welsh supporters, French fans and couples planning a Valentine’s getaway

CARDIFF AIRPORT and Air France have unveiled a series of special direct flights between Cardiff (CWL) and Paris-Charles de Gaulle (CDG) scheduled for February 2026.

Timed to coincide with two major dates — the Wales v France Six Nations clash on Saturday 15 February and Valentine’s weekend — the flights are designed to offer supporters and holidaymakers an easy link between the two capitals.

For travelling French rugby fans, the services provide a straightforward route into Wales ahead of match day at the Principality Stadium, when Cardiff will once again be transformed by the colour, noise and passion that accompanies one of the tournament’s most eagerly awaited fixtures.

For Welsh passengers, the additional flights offer a seamless escape to Paris for Valentine’s Day, as well as opportunities for short breaks and onward travel via Air France’s wider global network.

Cardiff Airport CEO Jon Bridge said: “We’re thrilled to offer direct flights to such a vibrant and exciting city for Valentine’s weekend. Cardiff Airport is expanding its reach and giving customers fantastic travel options. We’ve listened to passenger demand and are delighted to make this opportunity possible. There is more to come from Cardiff.”

Tickets are already on sale via the Air France website and through travel agents.

Special flight schedule

Paris (CDG) → Cardiff (CWL):

13 February 2026: AF4148 departs 17:00 (arrives 17:30)
14 February 2026: AF4148 departs 14:00 (arrives 14:30)
15 February 2026: AF4148 departs 08:00 (arrives 08:30)
15 February 2026: AF4150 departs 19:40 (arrives 20:10)
16 February 2026: AF4148 departs 08:00 (arrives 08:30)
16 February 2026: AF4150 departs 16:30 (arrives 17:00)

Cardiff (CWL) → Paris (CDG):

13 February 2026: AF4149 departs 18:20 (arrives 20:50)
14 February 2026: AF4149 departs 15:20 (arrives 17:50)
15 February 2026: AF4149 departs 09:20 (arrives 11:50)
15 February 2026: AF4151 departs 21:00 (arrives 23:30)
16 February 2026: AF4149 departs 09:20 (arrives 11:50)
16 February 2026: AF4151 departs 17:50 (arrives 20:20)

Business

Cwm Deri Vineyard Martletwy holiday lets plans deferred

Published

11 hours ago

December 4, 2025

Bruce Sinclair - Local Democracy Reporter

CALLS to convert a former vineyard restaurant in rural Pembrokeshire which had been recommended for refusal has been given a breathing space by planners.

In an application recommended for refusal at the December meeting of Pembrokeshire County Council’s planning committee, Barry Cadogan sought permission for a farm diversification and expansion of an existing holiday operation through the conversion of the redundant former Cwm Deri vineyard production base and restaurant to three holiday lets at Oaklea, Martletwy.

It was recommended for refusal on the grounds of the open countryside location being contrary to planning policy and there was no evidence submitted that the application would not increase foul flows and that nutrient neutrality in the Pembrokeshire Marine SAC would be achieved within this catchment.

An officer report said that, while the scheme was suggested as a form of farm diversification, no detail had been provided in the form of a business case.

Speaking at the meeting, agent Andrew Vaughan-Harries of Hayston Developments & Planning Ltd, after the committee had enjoyed a seasonal break for mince pies, said of the recommendation for refusal: “I’m a bit grumpy over this one; the client has done everything right, he has talked with the authority and it’s not in retrospect but has had a negative report from your officers.”

He said the former Cwm Deri vineyard had been a very successful business, with a shop and a restaurant catering for ‘100 covers’ before it closed two three years ago when the original owner relocated to Carmarthenshire.

He said Mr Cadogan then bought the site, farming over 36 acres and running a small campsite of 20 spaces, but didn’t wish to run a café or a wine shop; arguing the “beautiful kitchen” and facilities would easily convert to holiday let use.

He said a “common sense approach” showed a septic tank that could cope with a restaurant of “100 covers” could cope with three holiday lets, describing the nitrates issue as “a red herring”.

He suggested a deferral for further information to be provided by the applicant, adding: “This is a big, missed opportunity if we just kick this out today, there’s a building sitting there not creating any jobs.”

On the ‘open countryside’ argument, he said that while many viewed Martletwy as “a little bit in the sticks” there was already permission for the campsite, and the restaurant, and the Bluestone holiday park and the Wild Lakes water park were roughly a mile or so away.

He said converting the former restaurant would “be an asset to bring it over to tourism,” adding: “We don’t all want to stay in Tenby or the Ty Hotel in Milford Haven.”

While Cllr Nick Neuman felt the nutrients issue could be overcome, Cllr Michael Williams warned the application was “clearly outside policy,” recommending it be refused.

A counter-proposal, by Cllr Tony Wilcox, called for a site visit before any decision was made, the application returning to a future committee; members voting seven to three in favour of that.

Business

Welsh Govt shifts stance on business rates after pressure from S4C and Herald

Published

21 hours ago

December 3, 2025

Sarah-Jane Absalom

Ministers release unexpected statement 48 hours after widespread concern highlighted in Welsh media

THE WELSH GOVERNMENT has announced a new package of tapered business rates relief for 2026-27, in a move that follows sustained pressure from Welsh media — including S4C Newyddion and The Pembrokeshire Herald — over the impact of revaluation on small businesses.

In Milford Haven, the hard-pressed pub sector is already feeling the impact: the annual bill for The Lord Kitchener is rising from £5,000 to £15,000, while rates at the Kimberley Public House have nearly doubled from £10,500 to £19,500. The Imperial Hall’s rates are increasing from £5,800 to £9,200, prompting director Lee Bridges to question why businesses “are being asked to pay more when we use less services”. In Haverfordwest, the annual rates bill for Eddie’s Nightclub is increasing from £57,000 to £61,500.

A written statement, issued suddenly on Wednesday afternoon, confirms that ministers will introduce a transitional “tapering mechanism” to soften steep increases for tourism, hospitality and small independent operators. Full details will be published with the draft Budget later this month.

The announcement comes less than two days after The Herald’s in-depth reporting brought forward direct concerns from Pembrokeshire business owners and councillors, highlighting the uncertainty facing one of Wales’ most important local industries.

Herald reporting credited by senior councillor

Pembrokeshire County Council Independent Group Leader Cllr Huw Carnhuan Murphy publicly thanked The Herald for pushing the issue into the spotlight.

In a statement shared on Wednesday, Cllr Murphy said: “Welcome news from Welsh Government. Thanks to Tom Sinclair for running this important item in the Herald in relation to the revaluation of businesses and the consequences it will have for many.

He added: “Newyddion S4C hefyd am redeg y stori pwysig yma ynghylch trethi busnes.,” which in English is “and thanks to S4C Newyddion as well for running this important story about business taxes.”

He added that the Independent Group “will always campaign to support our tourism and agriculture industry, on which so many residents rely within Pembrokeshire”.

Media spotlight increased pressure on Cardiff Bay

On Monday, ministers said business rates plans would be outlined “within the next two weeks”.
By Wednesday afternoon — following prominent coverage on S4C and continued pressure from The Herald — Welsh Government released an early written statement outlining new support.

Industry sources told The Herald they believed the level of public concern, amplified by the media, “forced the issue up the agenda much faster than expected”.

A cautious welcome for ‘better than nothing’

Cllr Murphy welcomed the partial support, though he stressed it fell short of what many businesses had hoped for.

“This isn’t the level of support many were hoping for,” he said, “but it is certainly much better than nothing.”

Draft Budget expected soon

The full tapered support scheme will be detailed in the Welsh Government draft Budget, expected within a fortnight.

Tourism and hospitality representatives have reserved final judgment until the figures are published, but many have expressed relief that some support will continue, following weeks of uncertainty.