What is Cryptocurrency?
Cryptocurrency is digital money secured by cryptography, operating on decentralized networks.
How Crypto Works
Blockchain Technology
- Distributed ledger across thousands of computers
- Each block contains verified transactions
- Immutable once confirmed
- No central authority controls it
Decentralization
- No single point of failure
- Censorship resistant
- Anyone can participate
- Transparent and verifiable
Major Cryptocurrencies
Bitcoin (BTC)
- First cryptocurrency (2009)
- Digital gold / store of value
- Maximum supply: 21 million
- Most established and trusted
Ethereum (ETH)
- Smart contract platform
- Enables decentralized applications
- Powers DeFi and NFTs
- Programmable money
Other Notable Coins
- BNB: Binance ecosystem
- SOL: High-speed transactions
- XRP: Cross-border payments
- ADA: Research-driven blockchain
Crypto vs Traditional Finance
| Feature | Crypto | Traditional |
|---|---|---|
| Hours | 24/7/365 | Limited |
| Control | You own keys | Bank owns |
| Speed | Minutes | Days |
| Access | Anyone | Requires account |
Key Concepts
Wallets
- Store your crypto (hot vs cold)
- Private keys = ownership
- Never share your seed phrase
Mining and Staking
- Mining: Proof of Work (Bitcoin)
- Staking: Proof of Stake (Ethereum)
- Both secure the network
Getting Started
- Learn before you invest
- Start with Bitcoin and Ethereum
- Use reputable exchanges
- Secure your assets properly
- Never invest more than you can afford to lose
Lesson Discussion