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  • Beginner’s Crypto Assets Guide

    Posted by Zer0 H1ro on October 19, 2023 at 4:15 pm

    From the basics of crypto assets to the intricacies of blockchains and wallets, we've got you covered! 🚀

    🟠 Cryptocurrencies:

    • Nature: Digital, secure via cryptography.
    • Unique Trait: Counterfeit-proof.
    • Example: Bitcoin (BTC).

    💱 Altcoins:

    • Definition: Digital currencies beyond Bitcoin.
    • Variety: Diverse functionalities.
    • Examples: Ethereum (ETH), Solana (SOL).

    🎫 Tokens:

    • Creation: On existing blockchains.
    • Purpose: Assets or utilities.
    • Use: Initial Coin Offerings (ICOs).
    • Types: Utility, Security tokens.

    ⚖️ Stablecoins:

    • Stability: Pegged to external values.
    • Examples: Tether (USDT), USD Coin (USDC).

    🎨 Non-Fungible Tokens (NFTs):

    • Uniqueness: Non-interchangeable.
    • Applications: Art, gaming.
    • Example: Digital artwork.

    🔐 Types of Crypto Wallets

    🌐 Hot Wallets:

    • Access: Internet-connected.
    • Use: Quick transactions.
    • Risk: Online threats.

    ❄️ Cold Wallets:

    • Storage: Offline.
    • Safety: Immune to online hacks.
    • Types: Hardware, paper wallets.

    👮 Custodial Wallets:

    • Management: By third parties.
    • Comparison: Similar to traditional banking.

    🛡️ Non-Custodial Wallets:

    • Control: User-held private keys.
    • Advantage: Enhanced security.

    📊 Types of Blockchains

    🌍 Public Blockchains:

    • Accessibility: Open to all.
    • Nature: Decentralized, transparent.
    • Examples: Bitcoin, Ethereum.

    🔒 Private Blockchains:

    • Access: Restricted.
    • Benefit: Enhanced privacy.

    🤝 Consortium Blockchains:

    • Structure: Multiple organization control.
    • Model: Hybrid.

    Types of Consensus Mechanisms

    ⛏️ Proof of Work (PoW):

    • Process: Mathematical puzzle solving.
    • Characteristic: Energy-intensive.

    🎰 Proof of Stake (PoS):

    • Selection: Based on coin ownership.
    • Feature: Energy-efficient.

    🗳️ Delegated Proof of Stake (DPoS):

    • System: Democratic, electing validators.

    🛂 Proof of Authority (PoA):

    • Validation: By approved entities.
    • Advantage: Speed and security.

    💱 Types of Cryptocurrency Exchanges

    🏢 Centralized Exchanges (CEXs):

    • Nature: Third-party platforms.
    • Ease: User-friendly.
    • Examples: Coinbase, Binance.

    🔗 Decentralized Exchanges (DEXs):

    • Trading: Peer-to-peer.
    • Privacy: Enhanced.

    🌀 Hybrid Exchanges:

    • Blend: Features of CEXs and DEXs.

    💲 Fiat-to-Crypto Exchanges:

    • Conversion: From fiat to cryptocurrency.

    🔁 Crypto-to-Crypto Exchanges:

    • Trading: Among cryptocurrencies.

    🚀 Conclusion: Embark on your cryptocurrency journey with this comprehensive guide. Stay informed and safe, and enjoy exploring this digital realm! ✨

    Zer0 H1ro replied 6 months, 1 week ago 1 Member · 0 Replies
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