The short answer is no.  The long answer is that cryptos are a little like plants.  They are all basically the same, but their specific features and goals can be very different, and the way we choose to use them can also vary widely.

There are three general categories of cryptos, Currencies; Platforms; Applications.

Currency Cryptos
These are the cryptos that we generally think about as being a cryptocurrency.  First and most notable of these is Bitcoin.​  There currencies are generally focused on replacing or working alongside an existing currency.    These cryptos use their blockchain to keep track of who owns what coin. 
These cryptos can also be considered a Storage of Value as it is asserted that as the number of coins is limited, and as the demand for coins grows, that the value of those coins will increase. 

Platform Cryptos
These cryptos are built in an operating system style network.  This allows other applications to be built using the platform as a base, but while being independent themselves.  Applications that are built to operate on a particular platform are called D'Apps (Decentralised Apps).  The most notable of these platforms is Ethereum.  Platform cryptos have their own type of currency, that is used to buy & sell the use of the platform.  These currencies can be bought and sold as you do other currencies, but they are intended only to pay for use of the platforms network.

Application Cryptos
D'Apps (Application cryptos) perform a specific function, like traditional software does, but on the internet, on a webpage.   Think of all the cloud products you use today such as Facebook, DropBox, Gmail,  TradeMe, Youtube, or any app you run on your computer of phone.  All of these will, in time, be replicated in a D'App form.  They will look similar on your screen, but in the background they will be infinitely more powerful.  In reality this should lead to less expensive and more secure applications for you to use in your everyday life.
To confuse things a little, D'Apps can also reply on a platform to perform the back-end functions, or it can be a standalone application, that features its own blockchain.

That all sounds easy and straightforward, right?

Well, not so fast.  Its a little more complicated, and the divisions between each of these types are actually not that well defined.  In fact, many cryptos are a little of one and a little of another, or all three!  To make things worse, as this is still a very young and very fast emerging industry, definitions are still up for debate, and even when there is some agreement, that agreement can change when new technologies emerge.  As there are new techniques, and new technologies appearing in the market every day, new types are added, and debate rages as to whether a technology fits in one place or another, or whether it is a new categories all of its own.

Let's think about some examples.
Currency Cryptos
Bitcoin (BTC)  - This is the most famous crypto currency, and its intention is to be a currency that replaces the use of traditional currencies.
Monero (XMR) - This is designed to be a replacement currency, and focuses on anonymity as its main feature.
Ripple (XRP) - This is designed to be a currency system focusing on transferring value between banks globally. 

Platform Cryptos
Ethereum (ETH) - Ethereums' main purpose is to be a platform on which applications will run, and the token (currency) is to be used to buy and sell use of the platform.  However, Ethereum is currently also used for real-world transactions, that do not include use of the platform, other than to process the transaction itself.  
Lisk (LSK) - Lisk is designed for applications to be built using Lisks' blockchain for the backend, and focuses on allowing the use of currently available programming languages.

Application Cryptos
Golem (GNT) - Golem is one of the first D'Apps built on Ethereum.  Golem focuses on using unused global computing power to power a "super-computer" that can be used for CGI rendering, or scientific calculations for example.
Siacoin (SC) - Siacoin focuses on large scale data storage, but features its own blockchain.


So, no, cryptos are not just currencies, they are so much more.  The reality is that we have barely scratched the surface of what cryptos can do.  

Individually, cryptos solve a variety of real world problems, that often can appear to replicate what already exists, such as currencies, platforms, data storage, games, and graphic manipulation.  But its not the individual applications that are important with cryptos.  What is important now is HOW these problems are solved with cryptos, which makes all the difference.

Collectively, cryptos have some features in common (mostly).  Together, they share these features: Security; Transparency;  Immutability;   Accessibility;  Speed;  Value

Security
​Currently, the global community relies pretty heavily on central management.  In fact, we have been pushed very heavily towards it, and we have used technology to achieve it.    If you have a home wi-fi network, a business network, or you store anything in "the cloud", then you are already familiar with how centralisation can be of enormous benefit to us all.  This centralisation has also been applied to currencies, bonds, securities and title deeds.  However, this centralisation does not prevent a central bank from changing the money supply, the government losing records (or purposely changing them) or prevent records from damage through flood, fire or digital loss, even if measures have been taken to prevent these exact things.  Essentially, centralisation gives a single person, body, or corporate total control over the information, and thus over its use.  
Cryptos, however, are decentralised.  This does not mean 'no longer controlled' instead it means 'controlled by all and by none'.  This is true because a record does not exist in one place, it exists in hundreds or even thousands of locations.   This is of benefit if the network faces a malicious attack.  The attack must simultaneously compromise (in the case of Bitcoin) 51% of the network in order to be successful.  The sheer computing power, and resources that would be required to achieve this would well outweigh the benefit of being successful, and would be well outside the resources of any potential attacker.  

Transparency
Most (but not all) cryptos are open source.  This means that anyone can look at the source code of the crypto, and if you understood programming language, you could confirm the the code is executing in ways that are expected.  This makes it possible to trust the system of the crypto (rather than having to trust a  person) as the crypto will always act in an expected way.  In practice, other programmers check source codes and report back their findings.  This is like a review system for cryptos, the bad ones are quickly revealed, so there is strong incentive for developers to good, non-malicious code.
In addition, every transaction ever created can be viewed in an explorer, making the execution of the crypto transparent also. 

Immutability
This is just a fancy word for unchanging and most importantly unchangeable.    Security and Transparency make this possible.  It is practically impossible to change the transaction history, and transactions are fully verifiable, so trusting the transaction took place as expected is easy.  Essentially, baring a complete collapse of the crypto network, the transactions are fully immutable.

Accessibilty
As long as you have internet access, you have access to the crypto network.  This makes cryptos globally accessible and equally accessible to all nations, provided the internet connection is available.  

Speed
Transfers between banks, across long distances or between countries can vary in time from a few hours to a few days.  Cryptos transaction times range from immediate to one hour (depending on the crypto used).  This is regardless of the physical distance the transaction must travel.

Value
As there is no need to change currencies when transactions move from country to country, there is also no loss of value.  One coin is worth one coin regardless of its physical location, or the country it resides in.


With these collective features there is no need to trust in a potentially corrupt or inefficient third party. They allow us to conduct “trustless” deals anywhere in the world, and any associated fees that would have paid for the security of a transaction would no longer be necessary.   This then opens up new markets which are dealing with corruption, unstable currencies or poor business practices.  The crypto can stand outside these issues, providing stability in the market.

Keeping your cryptos safe depends entirely on where you keep them.  I will go through the main risks, and what you can do about them.

General Risks
Market Fluctuations
A major financial risk to you in the crypto space is the wild fluctuations crytpos experience.  With all the 1000% increases in value, there are equally as many 1000% decreases.    Investment advisors suggest never investing more than you can spare, because the likelyhood that you will lose it all is very high.  With over 1400 coins to pick from, how do you pick a solid coin that isn't going to crash?  Its virtually impossible.   

What can you do to protect yourself?  Your only resource is to try to buy into something that has long lasting value, a crypto that will have value long after the original hype has worn off.   Do some research, read their website, find a social media group that discusses it (facebook/reddit etc).  First eliminate it as a scam, then think about if it is a service that you can imagine using yourself, or the someone else would use.  Of course, this research still doesn't protect you, but it tips the odds slightly in your favour.

Scam Coins
So you are ready with your spare money, and you want to pick a solid coin to invest in.  That leads to the next risk...picking the right coin.    You first need to understand that this industry is virtually unregulated, and is the first industry of its kind that crosses international borders with ease.   Regulators are still playing catchup trying to figure out how to provide protections to both country and to citizens.  This non-regulated space has bought out the best and the worst of mankind.  The best are using the opportunity to shape our future and are using their freedom to reshape some of our current restrictions.  The worst are using this as an opportunity to relieve you of your money, any way they can, because they can. 
One way they relieve you of your money is by creating a scam coin.  These come in several different formats:  the Ponzi Scheme; the Ghost Coin; the Honest Scam.

There are a number of sites that collate data on the revealed scam coins, such as ScamBitCoin or BadBitCoin.  These are useful ways to check for scam coins before you buy.


Buying and Selling
Exchanges
Exchanges are a vital part of the crypto community, but their existence brings with it an inherent risk because you are trusting your cryptos to someone else.  It is easy to think of an exchange as a bank, because they use similar terminology, and they have similar functions.  But unlike a bank, they are poorly or unregulated in most countries, and an exchange makes no guarantee that your coins will be safe with them.  Exchanges have a bad reputation of struggling to employ enough people fast enough to cope with the huge increases in traffic on their exchange.   In any new industry, many, many mistakes get made by:
  *   the many inexperienced users that enter the space
  *  crypto code bases that are not fully tested
  *  inexperienced or overloaded exchange staff. 
This combination leads to enormous frustrations from all parties, and regularly results in lost coins or very delayed transfers  (usually when transferring coins from one place to another).
In the worst case scenario, the exchange itself can fail, or be a scam exchange.  The most famous example of this is Mt. Gox, with some speculation that fraud was involved.
But it doesn't stop there.  If you keep your coins on an exchange, you are at risk of a hacker figuring our your username and password, and simply logging in with you credentials and transferring your coins out.  However, most exchanges will allow you to have 2-factor-authentication, although these are normally optional.  You should consider them mandatory, as it one of your few protections from thieves.

In New Zealand, you are afforded some protection if the exchange is registered with the New Zealand Financial Service Provider Register.    By registering the directors and senior managers are checked for recent criminal convictions or insolvencies, and no convictions at all for money-laundering or terrorist financing.   In addition, the nature of the 
services they provide is  available on the FSPR. 

Brokers
Brokers seem to attract less security risks than an exchange, most likely because they rely on repeat business to earn their commission, so if a transaction goes wrong, the customer is less likely to trust that broker again.  The broker also does not keep your coins in their wallet on your behalf, you must maintain your own wallet, so you have better control over your coins.  You will notice in our article Exchanges and Brokers in New Zealand you will notice that Brokers tend not to be registered with the New Zealand Financial Service Provider Register.   This might not necessarily be a drawback, as brokers can more closely be considered to be like a reseller, rather than an adviser, or keeper of your assets.  The price for this extra security, however, is higher fees on your transactions.

Person-to-Person
Sites like LocalBitcoins also rely heavily on trader trust, so your security is slightly higher here too.  Traders have very detailed feedback and trust scores, so a buyer can easily gauge how trustworthy a seller is before commencing with the trade.
​
Fake Wallets
This, in my opinion is the most clever way to steal your coins.  Why do anything, when you victim can do all the work for you?  Pick a domain name very similar to a well known safe wallet, load the site up with the fake wallet that immediately funnels the coins into your own wallet, advertise it on google adwords, and wait for your prey.  With this system, when your victim googles for the known wallet, and both options will appear.  There is a good chance many victims will choose your link.  This is also happening with apps in the Apple App store and the Google Play Store.  So, how do you protect yourself?  Do your research.  Make sure the wallet link comes from the approved crypto's own site.  Check, and double check.   Make sure the wallet is officially endorsed by the community behind the coin.   If you are unsure, check again. 

Cloud Mining
Cloud Mining is a scheme where you are offered the chance to mine crypto currency without the outlay of hardware.  You just pay them, and they will mine on your behalf.   There is a lot of discussion about this style of mining, which I won't get into here, but almost all cloud mining sites to date have been found to be fraudulent, ponzi schemes.  The most famous of these sites, which is still in production, Genesis Mining, has been in operation since 2015, appears to be legitimate, but many reviews report that it is not profitable until thousands of dollars are invested.  On the whole, however, these sites are almost impossible to tell if they are legitimate, so my advice it to stay away.

Safety on the Internet
The Internet is by its nature a dangerous place for your computer, with all variety of malware lurking everywhere and hackers waiting to hold you to ransom for your data.  This becomes infinity worse if you become involved with cryptocurrency.  You have inadvertently given yourself a target on your back.  Hackers are waiting for you.  
One trick that is becoming increasingly common, is for sites to use your CPU for mining.  If you go to a site, then find your computer starts going really slow, then this might be the case.  This is especially true for Crypto self help sites and blogs (yes, like this one!).  You are new and vulnerable, so your are a perfect target.  An example of this is mycrypto.guide.    

Annoyingly, the site is actually helpful, with great tips for beginners.  But notice the ESET EndPoint Security warning?  This is my Antivirus protecting me from the mining code embedded in the website.  If your antivirus also pops up, then rest assured your antivirus is doing its job, and you have entered a dodgy site.  If your antivirus doesn't pop up, then check the code for yourself.  Right-Click anywhere on a webpage and select View Page Source.   Warning! If you are not familiar with code, this screen can be a little intimidating.  However, all you need to do is do a word find (Ctrl+F) and look for ".start" (with the dot in the front).   Even for a beginner, its pretty obvious what that code does.   Although the code won't necessarily mention a "miner", the ".start" command is telling you that something is running, and if it is paired with a wallet address (for example "B45f3455fvcfck994854rDKDNmco904") then you are definitely looking at a miner.

If you find this code, then stay away.  The good news is, that when you leave the page, the mining stops.

Another way thieves can steal your coins are with keyloggers.  This is malware that keeps track of the keys you type into your keyboard.  Usernames and passwords are very easy to steal this way, but a good antivirus will keep them out.  But you can protect yourself. 

Firstly, don't mention your holding on the internet, anywhere.  Not via email, not on your facebook page, not anywhere.  Word of your crypto riches will quickly spread, and sooner or later, to the wrong person.
Secondly, get decent antivirus software.  Use this rule of thumb, if its free, its rubbish (and probably malware itself).  Buy some decent antivirus protection.  Read some reviews, see what gets a good rating.  Ask your local IT company and find out what they sell - it is in their best interests to recommend quality software to their clients.  Then buy it, and install it.  
Lastly, RENEW YOUR ANTIVIRUS!  Most antivirus software must be renewed monthly or annually.  Purchasing the antivirus in the first place is only the first step.  If you fail to renew, your antivirus will continue to run (for most of them) but it will not update, so it won't catch any new threats.  Considering there is a new threat created every 4.2 seconds, then you are taking a huge risk.

Social Media
Social Media can be a great resource for newcomers to cryptos, and I highly recommend joining some groups that support the crypto(s) that you support.  However, these groups are vulnerable to FUD (Fear, Uncertainty and Doubt) .  Sometimes the discussion will be about how exciting Bitcoin is, sometimes its about a great new ICOs.  Or it focuses on how cryptos are a bubble about the burst, or state-level bans, or how some big-wig thinks cryptos are a waste of money.  This kind of talk can easily be overwhelming, and lead you to make choices that you might not have otherwise chosen to.   This kind of thing is often intentional, started and fed by those who seek to manipulate the market.   You best protection from this is to understand that this happen, regularly, and try not to be influenced by it.

​Friends & Family
​Keep your holdings to yourself.  Even if your friends and family are 100% trustworthy, if they mention to a friend that you are doing well, and that friend mentions to a friend that you have something worth a lot, then you are asking for trouble.  Finding the details of a friend of a friend is surprisingly easy with social media.  


This article does not outline all the risks you take when joining this community, just some of the more common ones.  Be aware that risk is around every corner, and be careful.  Good Luck!
​

B​uying and selling is very easy, you just need to figure out what works best for you.  Other then finding someone in person who wants to buy or sell with you, your options are to use a brokerage, an exchange or person to person trading.

A Brokerage is exactly what it sounds like, a broker will buy and sell your cryptos on your behalf, for a fee (of course), but you don't have to figure out how an exchange works, or figure out how trading works, you simply pay your $$ and you get cryptos in exchange.   However, the type of coin you can purchase is often restricted by what the broker is prepared to purchase on your behalf.

An Exchange is the next level.  You become the buyer, and must navigate the trading platform and the lingo for yourself.  Its a bit tricker and there is a steep learning curve, but the fees are lower and you are in total control of what you want to purchase.  The number of different coins you could potentially  purchase is only restricted by the preference of the exchange you are using.

Person-to-Person trading, similar to TradeMe, are sites that you can connect with sellers and buyers of cryptos.

Here is a (not exhaustive) list of brokers and exchanges that allow New Zealanders to purchase cryptos with NZD.  Most are located in New Zealand, but some are located overseas.

At various times an exchange may restrict new registrations, or restrict bank deposits.  Because these change regularly, the current status of each exchange is not recorded here.

As more exchanges become available they will be added to this list.

What is a Cryptocurrency?
A Cryptocurrency is software created by a software developer (or a team of developers) that has the ability to create and distribute pieces of itself to another computer user.  These pieces are called tokens, or coins.  The tokens (coins) can only be digitally transferred, and have no physical form. 

Cryptocurrency is Bitcoins, right?
Bitcoins are a type of (and the first) cryptocurrency.  As at January 2018 there were over 1400 different cryptocurrencies in circulation.  For a full list of cryptocurrencies check out Coin Market Cap.   This site contains a list of every cryptocurrency in circulation, the price it is currently valued at, along with where to find out more information.

Why Were Cryptos Created?
Cryptos were created in response to a global increase in government control over currency transactions.  Digital currency was to create untraceable transactions by any party, including the government.  Wikipedia describes the history of cryptocurrencies here.

What Can I Use Cryptocurrencies for?
Cryptocurrency is a rather misleading word.  Cryptocurrencies can have many different functions, not just acting as a currency.   Some are platforms (an online presence that allows others to run their own software, using the platform as a base), some are assets (that act as a store of value) and some are businesses that have a specific use case in mind.
From here on I will refer to Cryptocurrencies as Cryptos.

Find out more about the different types of cryptos in our article Cryptos Are Just Currencies, Right?

Can I Use Cryptos To Make Purchases?
Yes, there are many different cryptos that focus on currency as a feature, and are actively used now, mostly using crypto-enabled Debit Cards or online using a payment processor who accepts cryptos such as Shopify, Square or Stripe .  

Can I Use Cryptos To Make Purchases in New Zealand?
99bitcoins.com has a running list of who currently accepts bitcoins internationally, but New Zealand is still to fully adopt the crypto ideals.
However, you can still spend bitcoin or other cryptos by using a third party debit card, such as Uquid.  These cards allow you to spend your cryptos wherever major credit cards are accepted.

How do I buy Cryptos?
Purchasing cryptos can be completed in several different ways. 
  *  Via a Brokerage
  *  Via an Exchange
  * Through a Person-to-Person style exchange (similar to TradeMe).

You can find a list of these, and what they offer in New Zealand in our article Exchanges and Brokers in New Zealand.
​
Where Would I Store Cryptos?
There are six options for coin storage; A desktop wallet, a mobile wallet, an online wallet, a hardware wallet, a paper wallet or on an exchange .
Desktop Wallet: This is software that you install on your computer.
Mobile Wallet: A wallet that is run using a app on a smartphone.
Online Wallet: An online wallet is a web-based wallet which requires no software on your computer.
Hardware Wallet: This is hardware that is dedicated to hold and secure cryptos.  These devices can be connected to the internet (usually via your computer) to make transactions, but can be taken offline for transportation and security.
Paper Wallet: Most cryptos will allow you to print out a QR code for both a public and private key.    This option allows you to avoid storing digital data about your currency.
Exchange:  When you create an account with an exchange, a wallet is automatically assigned to you for every crypto that they support.  You don't own the wallet, just the contents and you have no control over the wallet other than to move cryptos in and out of it. 

Find out more about storage in our article Where To Store Your Coins.

Should I Mine Cryptos?
Mining can be a rather technical venture, and the process for mining can vary widely from coin to coin.  The number of coins you can generate from mining also varies widely from coin to coin, but sites like What To Mine provide some insight into what your earnings might be.  In order to begin mining, you require some from of hardware such as a computer with a powerful Graphics card, a hardware rig with multiple graphics cards or a specialised mining rig developed specifically for mining only.  As with any investment, the more you invest, the more rewards there are, and for a modest hardware rig you can expect your investment to be in the thousands of dollars.

Find more details about mining in our article What is Mining and Staking?

Are There Risks In Owning Cryptos?
​Yes!  So many risks!  The cryptos is an emerging technology, an emerging industry and everyone in it are beginners!  Yes, even the experts are beginners.  Very little of this space is robust, because most of the technology has either had no or very little time in production.  Wide scale adoption is a long way off yet for most cryptos, so none of the faults or gaps in the systems have been tested.  To make things worse, this is a mostly unregulated industry, so the scammers have moved in, and its a very lucrative market for them!  

Cryptos is a risky industry.  Find out more about the risks you need to avoid in our article Keep Your Cryptos Safe.​