The latest buzzword in the technology industry is Bitcoin. Since its introduction, Bitcoin has emerged as a technology with immense potential. The new trend of emerging technologies in the market has enabled businesses to shift towards the technical platform.
The digital space offers numerous opportunities for business efficiency and growth, and it is evident with the applications and services offered across the digital platform.
From communication to shopping, payments and even professional services are offered digitally. Such a significant leap has led to innovations in the payment services as well.
Today, with the advent of technologies such as blockchain, cryptocurrency is among the most reliable digital payment offerings as per the experts.
Among several cryptocurrencies, the stand out is Bitcoin, which has the largest market cap of $647.2 billion and 68.1% total market share. Such statistics have gained the attention of organizations and professionals. In recent years, blockchain technology has made Bitcoin achieve new heights.
The working knowledge about blockchain technology and in-depth understanding of Bitcoin is the most sought after industry skills. As blockchain technology continues to evolve, it is highly in demand, and the need for experts is rapidly increasing every year. It is among the most lucrative career opportunities in the job market.
It is the most opportune moment to dive into a career with limitless scope for all the aspirants and professionals with a keen interest in switching careers. To build on the knowledge repository and develop the skills, it is essential to have the right guidance.
To do so, individuals must opt for certification courses that introduce core concepts and build upon theoretical and practical knowledge. The article sheds light on some of the top courses that are available today on Bitcoin.
Top 8 Bitcoin Online Classes
The course is available on Udemy. This online class on Bitcoin covers essential concepts on how Bitcoin works as a global cryptocurrency, the theoretical side of the currency, undertaking the first-ever Bitcoin transaction for learners, and critical factors of Bitcoin mining. The course modules are.
- Bitcoin Ecosystem
- Technical Elements
- Get Your Hands on Some Bitcoins
- How is Bitcoin different from Fiat Currency
- Where to Spend Bitcoin
- Potential Profit from Selling Bitcoin
- Discussions with Bitcoiners 1- Francis Pouliot
- Discussions with Bitcoiners 2- Marc Warne
- Discussions with Bitcoiners 3- Henrik Hjelte
- Discussions with Bitcoiners 4- Eric Spano
- Discussion with Bitcoiners 5- Diego Zaldivar
- A Complete Understanding of Bitcoin
- Bonus Resources
- Additional Lectures
Related Reading: Udemy Review
Instructor: Ravinder Deol, Buidl School
Video Lectures: 83 video lectures
User Review: 4.4/5
Price: $6 (Varies according to the region)
Among the Bitcoin online courses, this course is among the best that is offered currently on the BitDegree platform. It is an introductory course that is helpful for absolute beginners. The course covers essential concepts on introducing cryptocurrency, basics of blockchain technology, how Bitcoin works, Bitcoin in daily life, the Ethereum network and ICO, safety and security, and taxes in the USA.
Instructor: Andrew Bard
Video Lectures: 8 video lectures
User Review: 4.8/5
It is not the easiest of the tasks to find Bitcoin classes that introduce the fundamentals in-depth. The course is offered on the Pluralsight platform. The online Bitcoin course is focused on introducing the concepts of Bitcoin and decentralized blockchain.
Some of the essential concepts in this course include ideas behind Bitcoin, use of Bitcoin, Bitcoin under the hood, and explore the decentralized projects, including Ethereum and private blockchains.
- Course Introduction
- Bitcoin Introduction and Demonstration
- Individual Account Security and Decentralization Motivation
- Keeping the Bookkeepers Synchronized and Honest
- Programmable Money with Examples
- Where to Get Bitcoin
- Bitcoin Wallets
- Bitcoin Mining
- Accepting Bitcoin on a Website
- The Bitcoin Software Universe
- Installing Bitscore and Creating a Bitcoin Address
- Digital Signatures and Bitcoin Addresses
- Bitcoin Transactions
- Creating and Sending a Transaction Using Bitscore
- Reaching Consensus on The Ledger and Proving That Consensus
- Cryptographic Hashes
- Locking Transaction in Order with Blockchain
- Bitcoin Creation and Double Spend Attacker
- SPV Wallets
- Improved Backups Through Deterministic Wallets
- Hierarchical Deterministic Wallets
- Multisignature Addresses for Shared Wallets, Backup, and Security
- Multisignature Addresses for Escrow Services
- Centralization Pressures
- Upgrading Bitcoin Via Soft and Hard Forks
- Segregated Witness Update
- Payment Channels
- Check Lock Time Verify and Replace By Fee
- Payment Protocols, Privacy, and CoinJoin
- Conclusion and Future Outlook
- Building Bitcoin, Metacoin, Colored Coins, and Sidechains
- Proof-of-work Consensus Alternatives and Challenges
- Proof-of-Stake Consensus
- Permissioned and Private Blockchains
- Improving Performance with Tndermint and Ripple
- Better Privacy with Monero, Ring signatures, and Stealth Addresses
- Zerocash and Zero-Knowledge Proofs
- Seeking Price Stability
- Augur and Decentralized Prediction Markets
- IoT and DAOs
- Decentralized Storage
- Identify and Reputation
Related Reading: Pluralsight Review
Instructor: Scott Driscoll
Video Lectures: 42 video lectures
User Review: 4.6/5
Price: 10-day free trial (price available on Sign up)
The course is offered on Udemy. The online Bitcoin course is suitable for mastering essential concepts on cryptocurrency and Bitcoin concepts. This online course also has Bitcoin mining concepts in detail. By the end of the course, the learners will understand how bitcoin works, buy and sell Bitcoin, Bitcoin wallets, Bitcoin Mining, taxes, Ethereum and Dapps, other cryptocurrencies, and trading strategies.
Instructor: Nick Walter
Video Lectures: 25 video lectures
User Review: 4.8/5
Price: $6 (Varies according to region)
The course is offered on Udemy. The course is an advanced course on Bitcoin transactions and their work and their related structures. The learners will also be able to analyze Bitcoin transactions and verify them on the public blockchain. The course curriculum includes the following topics.
- Bitcoin Fundamentals Review
- Bitcoin Transaction
- How Bitcoin Transaction Works
- The Chain of Digital Signatures
- Analyzing Real Bitcoin Transaction on the Blockchain
- What a Bitcoin Transaction Look Like
- The Journey of Bitcoin Transaction
- What is Memory Pool
- The Coinbase Transaction
- Bitcoin Transaction Confirmations
- Segregated Witness
- Bitcoin History Primer
- Additional Resources
Instructor: George Levy
Video Lectures: 16 video lectures
User Review: 4.7/5
Price: $6 (Varies according to the region)
The course is available on Udemy. The concepts that are covered are the use of cryptocurrencies and Bitcoin for personal use, evaluating and selection of exchange for trading, building a cryptocurrency portfolio as per the risk tolerance, setting up the cryptocurrency wallet, strategies, and techniques associated with the technologies and fundamental and technical analysis for choosing individual coins for investment. The course modules are listed below.
- Introduction to the Emerging World of Bitcoin and Other Cryptocurrencies
- Key Cryptocurrencies to Know
- Wallets: Where to Keep Your Digital Currency
- Exchanges: Where you Trade Cryptocurrency
- Investing in Cryptocurrency
- Investing Strategies
- How to Pick Cryptocurrencies to Invest in?
- How to Get More Cryptocurrency?
- Next Steps
Instructor: Steve Ballinger
Video Lectures: 74 video lectures
User Review: 4.6/5
Price: $7.80 (Varies according to region)
The course is available on the UNIC platform. The MOOC course is an introductory course in digital currencies. The fundamentals of cryptocurrencies and blockchain technology are covered entirely. It is one of the first courses of the MSc in Digital Currency degree programs on the platform.
The course’s learning outcome is understanding fundamental technology components of blockchain-related digital currencies, currency issuance, proof of work, and alternative consensus mechanism.
The learners can also understand the structure of distributed Ledger, digital currency transactions, creation of wallets and acquiring Bitcoins, conduct transactions from a digital wallet, and understand the risks associated with such transactions.
Additionally, advanced uses of blockchain for escrow services, multisignature transactions, asset registration alternative of Bitcoins, and regulatory approaches are some of the key concepts covered in the course’s entirety.
- The course modules are.
- History of Money
- The Byzantine General’s Problem
- Digital Currency Basics
- Bitcoin in Practice- Part 1
- Bitcoin in Practice- Part 2
- Alternative to Bitcoin
- Digital Currency and Central Banking
- Digital Currency and Financial Institutions
- Regulatory and Tax Treatment
- Digital Currency and Innovation
- Digital Currency and The Developing World
- Final Exam
Instructor: Antonis Polemitis, George Giaglis, Andreas Antonopoulos
Video Lectures: 12 modules
User Review: NA
The online Bitcoin course covers all the fundamentals of Bitcoin, blockchain, Bitcoin mining. It is available on the MindMajix platform. There are case studies and projects available in the course. The learners are assured of certification and job assistance, 20 hours of lab sessions, and flexible payment options. There is an option for a customized curriculum as well. The course curriculum includes the following.
- Introduction to Bitcoin Course: General Overview of Bitcoin, Characteristics of Bitcoin, How Bitcoin Works, Future of Bitcoin, Smaller Divisions of Bitcoin, Range of Bitcoin wallets and Bitcoin Terms
- Bitcoin Ecosystem: As a Bitcoin User, Bitcoin Marketing, Bitcoin Faucet, Bitcoin Economy, Bitcoin Exchanges, Bitcoin Speculation, and Bitcoin Clients
- Bitcoin Mining: Mining Hardware, Mining Pools, Algorithm, Security, and Centralization
- Bitcoin Technical Elements: Bitcoin Open Source Software, Bitcoin Decentralized Network, Bitcoin Addresses, and Keys, Bitcoin IRC
- Cryptography: Terms and Definitions, Hash Functions, Encryption, Digital Signature, Smart Contracts, Digital Currencies
- Blockchain Technology: Blockchain Ledger, Blockchain Explorer, Vanity Addresses, GLIPH
- Bitcoin Commerce: Selling your Bitcoin, Bitcoin vs. Traditional Currency, Bitcoin Payment Processors
Instructor: Bitcoin Professionals (Instructor Names not Available)
Video Lectures: 35 video lectures (30 hours Instructor-led training and 20 hours lab session)
User Review: 4.5/5
Price: Price available on Sign up
A Brief Overview of Bitcoin
As per the official definition by Satoshi Nakamoto, who developed Bitcoin and devised the first blockchain database states-
“Bitcoin is a peer-to-peer version of electronic cash that allows payments to be sent directly from one party to another without going through a financial institution. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work.”
– Satoshi Nakamoto
To simplify the definition, Bitcoin is a decentralized digital cash payment network that allows monetary values to be transferred in a peer-to-peer process. Unlike, traditional payment process, Bitcoin doesn’t have a centralized body of authority for controlling the transactions like a central bank.
The transactions are stored on a public and a distributed ledger that is possible with blockchain. Due to the use of blockchain technology, the payments are verifiable, immutable, and tamper-proof.
The blockchain network used for Bitcoin transactions consists of several thousand computers, also known as nodes, to keep track of the transactions. With Bitcoin, people can make transactions without the need for intermediaries with anyone across the world.
Popularity of Bitcoin
Bitcoin is among the widely used cryptocurrencies today. The popularity of Bitcoin continues to grow over the years, and the most notable reasons are discussed as follows.
As there is no middleman in the Bitcoin transactions, it leads to a lower transaction cost. Ideally, a traditional banking system would charge high amounts for international transactions and are significantly slower.
An average rate charge by banking institutions is about $25 for domestic wire transfers, whereas the charges become twice that of domestic charges for international transfers.
On the other hand, cryptocurrency exchanges have a basic charge of 0.25%-1% for a fee to process the Bitcoin, which reaches the recipient within a few hours. It is comparatively lower than the charges by either banks or e-wallets and companies such as PayPal.
With the absence of a regulatory body, there are no additional rules and guidelines on transactions. Typically, platforms impose multiple fees and guidelines for withdrawal or sending purposes.
Bitcoin enables transaction freedom as there are no questions of bank holidays, additional restrictions, or multiple charges for a single payment.
To date, international transactions take a minimum of 3-4 days to process the amount to be sent directly to a recipient’s account. Bitcoin eliminates the processing time and extra paperwork.
There is no scope of the third party or unauthorized access who can alter the Bitcoin transaction. Bitcoin is considered an efficient, fast, secure, and cheaper way of conducting transactions globally.
The primary technology behind Bitcoin transaction success is blockchain technology. Due to blockchain, the Bitcoin transaction history is available for a check throughout the entire transaction.
Blockchain makes Bitcoin transactions cryptographically secured, thereby making Bitcoin to be secure and challenging to be misused.
The problem with the traditional financial market is that it is prone to inflation due to numerous factors.
Whether there is an additional supply of money from the central banking systems to restart an economy or pay off debts, the artificial supply of money and government-related factors and market conditions can bring down the value of a currency. It is not the case with Bitcoin, as it is capped at 21 million coins. Hence there is no relation to any inflation in the market.
A Bitcoin wallet enables the storing of Bitcoins. Typically, Bitcoins are not stored as individuals who balance their Bitcoin wallet can perform the transaction with the corresponding person’s wallet with a private key.
Bitcoin wallets are useful for sending and receiving Bitcoins and authorizing the Bitcoin balance ownership to the user. There are several types of wallets, namely desktop, mobile, web, and hardware.
Best Bitcoin Wallets
Exodus is a desktop and mobile-based wallet. It is simple to use with an easy to navigate interface and a built-in exchange. The reason for its popularity is because it offers a cryptocurrency swapping option. Currently, it supports over 100 types of cryptocurrencies.
The wallet is considered to be suitable for beginners who are getting started in the crypto market. Exodus also offers a wide variety of support features, which is helpful for beginners. Some advanced users have suggested being lacking additional features. However, it is essential to highlight that Exodus is a closed source wallet, and its code is not open for others to see.
The support team ensures that there is no lack of security features in the wallet. The purchase cost of the wallet is free of charge, and users can set custom fees. It is compatible with the Trezor hardware wallet.
Electrum is among the original Bitcoin wallets that were available since Bitcoin came into existence. The wallet is confined to Bitcoin. The wallet is more suitable for advanced users due to its complexity. Unlike Exodus, this wallet is open source. Electrum enables users to set custom transaction fees and includes options of legacy Bitcoin and Segwit.
The security levels can be set as per the user’s needs. However, there are no customer support options available. The wallet’s purchase cost is free, and it is compatible with Trezor and Ledger hardware wallets. There are no provisions of incorporated exchange features.
Mycelium is an open-source Bitcoin wallet and is only based on the mobile platform. The wallet supports Bitcoin only. The user interface is easy to use and more refined as compared to Electrum.
There are incorporated exchange features in this wallet. Mycelium is also a wallet that was created during the early introduction of Bitcoin.
The users can set the transaction fees along with the transaction time. Mycelium supports hardware wallets and allows users to hold the Bitcoin in the offline storage device while using the wallet’s user interface. Like other wallets, there is no purchase cost and is compatible with Trezor and Ledger hardware wallets.
Trezor is a form of cold wallet storage. Currently, the wallet is in its second generation. The wallet allows users to have a third-party exchange in the website interface. There is a purchase cost of $170. It is efficient for use with a touch screen functionality.
With a Microsd slot, the users can encrypt the PIN and protect the devices more securely. It can be connected to a smartphone and desktop as well. The wallet supports over 160 cryptocurrencies. It supports incorporated exchange features.
Ledger Nano x
The Ledger Nano X is a hardware wallet. The wallet has the options of a USB drive and Bluetooth connectivity. It supports over 1500 cryptocurrencies. Some of the wallet features enable the users to add new wallets for different cryptocurrencies and management of the portfolios. Ledger wallets are among the most popular hardware wallets in the industry.
Although some of the features are extremely useful, a report in December 2020 stated that Ledger wallet experienced hacking problems capable of revealing customer details, including personal details.
Ledger Nano S
Ledger Nano S is a cold wallet that is introduced by Ledger. The wallet is among the first hardware wallets that have been introduced in the Bitcoin space. The wallet is compatible with multiple cryptocurrencies.
The Nano S wallet doesn’t come with a USB Type-C cable, so the users need to be wary of it as modern smartphones switch to type C. The wallet has sufficient storage capabilities, and it can allow adding few cryptocurrencies at the same time.
If a user wants to delete a particular wallet to add another one, they can do so without losing the deleted wallet’s cryptocurrency. The wallet transactions are stored in the blockchain; therefore, the deleted wallet is still visible in the Ledger Live. The purchase cost is $59, and no incorporated exchange features exist in this wallet.
The technical field is evolving each year and with it brings ample job opportunities to the market. The IT industry’s technical professionals must keep up their skills to keep up with the rapid changes as per the market trends.
The Blockchain developers with an in-depth knowledge of Bitcoin and related cryptocurrencies are among the most sought after professionals in the market today.
With lucrative career opportunities and famous companies in the finance industry and tech giants are equally opting for such professionals and paying competitive salary packages.
For aspirants who are unsure of diving into this field of cryptocurrencies can be assured of a future proof career as Bitcoin, cryptocurrency, and blockchain technology are here to stay for another few decades.
It is evident from the rapid growth of this technology and the market of Bitcoin that a collaborative approach will make the digital payment market a secure place.
However, to achieve a successful career as a blockchain developer and a Bitcoiner, one must know the theory and practical implementations associated with the technology. The importance of a certificate case from a reputable institution ensures industry recognition.
The article aimed to provide some of the popular courses from industry veterans and well-known institutions that will broaden the knowledge repository while ensuring success and a possibility to embark on a successful career in this domain.