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Welcome to Blockchain!! is happening in 10 days
Daily Crypto Workshop
Walk-thru video added to Workshop. Enjoy, have any questions, comment below.
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Introduction to Bitcoin for Beginners
Introduction to Bitcoin for Beginners Bitcoin is the world's first decentralized digital currency, designed to allow people to send and receive money without needing a bank or third party. It was created in 2009 by an unknown person or group using the pseudonym Satoshi Nakamoto. Since then, it has grown into a global financial system that challenges traditional banking and currency models. What is Bitcoin? Bitcoin (BTC) is a type of cryptocurrency, meaning it is purely digital and operates on a technology called blockchain. Unlike traditional money (fiat currency like USD or EUR), Bitcoin is not controlled by a government or central bank. Instead, it relies on peer-to-peer (P2P) networks and cryptographic security to function. Key Features of Bitcoin 1. Decentralized – No single entity controls Bitcoin. 2. Limited Supply – Only 21 million BTC will ever exist. 3. Borderless Transactions – Can be sent anywhere in the world instantly. 4. Transparency – Transactions are recorded on a public ledger (blockchain). 5. Security – Uses advanced cryptography to prevent fraud and hacking. How Does Bitcoin Work? 1. Blockchain Technology – Bitcoin transactions are recorded on a decentralized ledger called the blockchain. Every transaction is added to a "block" and linked to the previous one, creating a secure and immutable chain. 2. Mining – Bitcoin is created through a process called mining, where powerful computers solve complex mathematical problems to validate transactions and secure the network. 3. Wallets – Bitcoin is stored in digital wallets, which can be software-based (mobile apps, desktop programs) or hardware-based (physical devices for extra security). 4. Transactions – When sending Bitcoin, the transaction is broadcast to the network, verified by miners, and added to the blockchain. Why is Bitcoin Valuable? - Scarcity – With a limited supply of 21 million coins, Bitcoin is often compared to digital gold. - Adoption – More businesses and individuals are accepting Bitcoin as payment. - Store of Value – Many see Bitcoin as a hedge against inflation and economic instability. - Decentralization – No government or bank can manipulate Bitcoin.
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Web3 Crypto Updates
Ethereum ETF has gone live with a staggering $100million on day 1. What is an ETF? What is Ethereum? Let’s get to Ethereum first, This is an internet digital ecosystem built on computers from people around the globe. When you interact with the Ethereum blockchain, you are able to swap tokens, purchase NFTs, play blockchain games and farm for yield. This is only the beginning of its full capabilities, throughout time it will continue to enhance and add more features for the user base. Being crypto savvy is cool, just like you learn to drive, you should learn to use the blockchain. The blockchain brings opportunities to your living room, with no travel cost, no obstacles and massive amounts of connections. Never feel alone, the community of users in the blockchain has become so vibrant and monumental in numbers, social platforms like X (twitter) are now considered the blockchain social network. In my club, you will learn how to use the blockchain, how to safely transact and how to secure your tokens. After that your on your own, lol. But for real your to follow up with your own research and continue to expand on your knowledge, just remember our club will always be a source of high quality information and intentions. Now as for ETF, this is a way for people in the stock market and outside of blockchain to invest in this space. Those retirement accounts and wall street investors will allocate funds to this Stock Market ETF, but it’s not any better than owning Ether in your own wallet. We will be start our first club workshop on wallets and blockchains will be released on Friday.
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How to Use a Crypto Wallet: Step-by-Step
How to Use a Crypto Wallet: A Step-by-Step Guide 🦮 Welcome to our Skool community! Today, we’re diving into the essential tool for managing your cryptocurrencies: the crypto wallet. Whether you’re new to crypto or looking to enhance your knowledge, this guide will help you understand how to use a crypto wallet effectively and securely. What is a Crypto Wallet? A crypto wallet is a digital tool that allows you to store, send, and receive cryptocurrencies. It can be hardware-based, software-based, or even a paper wallet. Here’s a brief overview of the types of wallets: • Hardware Wallets: Physical devices that store your private keys offline, providing a high level of security. • Software Wallets: Applications or programs you install on your computer or mobile device. • Paper Wallets: Physical printouts of your public and private keys. Setting Up Your Crypto Wallet Step 1: Choose the Right Wallet 1. Security: Hardware wallets (e.g., SafePal, Trezor, Keystone Pro) offer the highest security, but software wallets (e.g., MetaMask, SafePal, Phantom, DeFi Wallet) are convenient for daily transactions. 2. Ease of Use: Beginners may prefer user-friendly software wallets with intuitive interfaces. 3. Compatibility: Ensure the wallet supports the cryptocurrencies you plan to use. Step 2: Install and Set Up Your Wallet For Software Wallets: 1. Download and Install: • Visit the official website of the wallet (e.g., SafePal). • Download the appropriate version for your device (Chrome extension, iOS, Android). 2. Create a New Wallet: • Open the application and click on “Create a New Wallet.” • Set a strong password. 3. Backup Your Seed Phrase: • You will be given a seed phrase (usually 12-24 words). This is crucial for recovering your wallet if you lose access. • Write it down on paper and store it in a safe place. Do not share this phrase with anyone. For Hardware Wallets: 1. Purchase and Unbox: • Buy a reputable hardware wallet from the official website or a trusted retailer.
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Understanding Yield Farming in DeFi
Understanding Yield Farming in DeFi What is Yield Farming? Yield farming, also known as liquidity mining, is a method of earning rewards by providing liquidity to decentralized finance (DeFi) protocols. It involves lending or staking your cryptocurrency assets in a DeFi platform to earn interest or additional tokens as rewards. How Does Yield Farming Work? 1. **Providing Liquidity**: Users deposit their cryptocurrencies into liquidity pools on DeFi platforms. These pools facilitate trading and lending activities. 2. **Earning Rewards**: In return for providing liquidity, users earn rewards, often in the form of the platform's native tokens. These rewards are usually distributed based on the amount of liquidity provided and the duration of the staking period. Key Concepts in Yield Farming - **Liquidity Pools**: These are pools of tokens that facilitate trading on decentralized exchanges (DEXs) like Uniswap. Users who provide liquidity to these pools earn a share of the trading fees. - **APY (Annual Percentage Yield)**: This measures the return on investment from yield farming, expressed as an annualized percentage. - **Impermanent Loss**: This is a potential risk when providing liquidity. It occurs when the value of the deposited assets changes compared to holding the assets outside the pool. Steps to Start Yield Farming 1. **Choose a DeFi Platform**: Select a platform like Uniswap, Compound, or Aave. 2. **Deposit Assets**: Transfer your cryptocurrency assets to the platform. 3. **Stake Liquidity**: Provide liquidity by depositing your assets into the chosen liquidity pool. 4. **Earn Rewards**: Monitor your rewards, which are typically distributed periodically. Example of Yield Farming 1. **Platform**: Uniswap 2. **Assets**: ETH and USDC 3. **Process**: - Deposit ETH and USDC into the ETH/USDC liquidity pool. - Receive liquidity provider (LP) tokens as proof of your contribution. - Earn a share of the trading fees generated by the pool and possibly additional rewards in the form of UNI tokens.
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W3MCT
skool.com/w3mct
You will learn ways to trade, earn and secure digital assets. Easy to understand workshops taught by Simon. Enhance Your FutureSELF.
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