1. What is Cryptocurrency?
Cryptocurrency is digital money that uses encryption to secure transactions. It works on a decentralized system called blockchain.
- No banks involved
- Works globally
- Secure and transparent
Examples: Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Litecoin (LTC), Ripple (XRP)
Tip: Start by following major coins like Bitcoin and Ethereum.
2. What is Blockchain?
A blockchain is like a public record book that stores every transaction.
- Data is stored in blocks
- Blocks are chained in order
- Everyone can see it, but can't change it
3. How Do You Use Cryptocurrency?
- Buy goods and services
- Invest or trade
- Send/receive money globally
Tip: Many online stores now accept crypto – check their payment options!
4. What is a Crypto Wallet?
Wallets store your private keys:
- Hot Wallets: Online, easy to use
- Cold Wallets: Offline, more secure
Popular wallets: MetaMask, Trust Wallet, Ledger, Trezor
5. How Do You Buy Crypto?
- Sign up on an exchange like Coinbase, Binance, or Kraken
- Verify your identity
- Link your bank/card
- Buy your first crypto!
6. Is Crypto Safe?
- Use 2FA (e.g., Google Authenticator)
- Use strong passwords
- Avoid scams and phishing links
7. Terms to Know
- Altcoin: Any crypto besides Bitcoin
- Fiat: Traditional currency (USD, EUR)
- Gas Fees: Transaction fees
- HODL: Holding long term
- NFT: Non-Fungible Token (unique digital asset)
8. Common Scams to Avoid
- Phishing emails
- Fake giveaways
- Anyone asking for your private keys
9. Pros & Cons
Pros:
- Global access
- Decentralized
- Fast transactions
Cons:
- Volatility
- Regulation uncertainty
Tip: Follow crypto news like Cointelegraph or Decrypt.
10. Tips for Beginners
- Start small
- Do your own research (DYOR)
- Diversify
- Use trusted platforms