Home ยป Crypto 101 | Where do I begin?

Crypto 101 | Where do I begin?

Hey everyone! I know that there are a lot of new people learning about crypto and getting excited over it cause your friends are making piles of money with it. Sorry to burst your bubble, but that’s not how this works. People who bought when the hype was dead, when big companies thought that crypto was dead, those people were the real deal. We call them the HODLers, the people who believe in the fundamentals of the asset. Those who want to make a quick buck are gonna get rekt, then crypto will be just a gamble for you. A boom or bust.

Preface

In this sort of tutorial I want to create a step-by-step roadmap for you to get started with crypto. I’m writing this for beginners, but power users can learn from this as well. You can always look back and do a refreshment by reading this article again. There will be a lot of video’s in this article. I curated this list of video’s based on how well and simple the topic is explained.

I have also written about the boring side of finance last week, but now we’re diving in some history. Underneath you will find two video’s.

How is money created?

Coldfusion – How is money created?

Who controls the Dollar ($) ?

FED

Alright, I hope you’ve watched the video’s above to learn about the current financial system, how money works and who controls the money supply. As you can tell, there’s too much power in the hands of the big players.

How do we solve this issue? How can we take the power back as the people? We're earning it so why don't we have the freedom to do what we want with it? 

What’s crypto and where did it come from?

We can’t learn about crypto without learning about Bitcoin. When I first heard about Bitcoin, I really didn’t understand it. It was so new thus confusing so I left it alone for a while. BIG MISTAKE! Bitcoin is fighting the current financial system, it’s a movement for change, it’s a store of value, it’s an investment asset and so much more.

ColdFusion – Where did bitcoin come from?

FREEDOM! This is the best usecase of crypto, but what does it mean? What can I do with my Bitcoins or Ethereum?

  1. Borderless payments, you can send money anywhere in the world without a limit.
  2. Censorship resistant, there’s no middleman that tells you what you can and cannot do.
  3. Decentralized Finance (DeFi)
    1. Use lending and borrowing services like Aave & Compound to earn yield on your assets.
    2. Take crypto loans on Oasis (Build by MakerDAO).

Ethereum? What’s that?

I’ve written a piece on how you can deposit on Aave via the Polygon network. For this you’ll need a deeper understanding on how the Ethereum network works, what other networks run in parallel and how you can move funds between the networks. We’ll dive into this in the next section.

It's the world's programmable blockchain ~ https://ethereum.org/en/what-is-ethereum/

I hope you now understand what Ethereum is, but there’s so much more! Ethereum is not only an asset, it’s a network of decentralized applications, money lego’s, autonomous organisations, etc. There’s so much to cover and I hope I can group these topics together and give you the education you need on them, but you need to do the work as well so please go and do your own research. Go deeper in the rabbit hole and experiment.

Diving deeper

To be continued ... Stay tuned for the next section where we dive deeper into crypto, how to get started with it, how you buy it, trade it, etc

Conclusion

I hope this little introduction into Money 101 can get you started, take some time to think, don’t rush and plan your actions. Investing in general isn’t a get rich quick scheme, it’s a steady and painful process. You’ll get hurt along the way.

I hope you enjoyed this read and as always: Stay AbNormal!

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