Cryptocurrency lesson plan

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Cryptocurrency lesson plan

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WATCH RELATED VIDEO: What is Bitcoin Mining? (In Plain English)

2FA compromise led to $34M hack

And the bigger question is this: should you be investing your hard-earned money in it? Thoughts and strategies about cryptocurrency spread fast. This is because cryptocurrency is a complicated and unique technology that is also accessible. It can be understood by anyone, regardless of background. Maybe you have had it recently with cryptocurrency being a focal point of the news and online conversation.

Only after you understand these basics can you make a decision on whether or not it is right for your investment needs. There was speculation, but no real answer.

Unlike stocks , bonds, artwork, real estate, or precious metals , cryptocurrencies have no use or value outside of possession. Gold is a vital component in electronics, and jewelry — and thus has value outside of its limited supply.

Cryptocurrency, on the other hand, only costs money because someone else has it, and wants money to give it to you. Bitcoin — one of the many forms of cryptocurrency — was invented to combat these exact problems. In order to understand cryptocurrency, you should also understand the following technologies and principles:.

Cryptocurrency utilizes cryptography — the method of disguising and revealing information — to ensure the security of user information and transactions are done safely. A blockchain is a form of Distributed Ledger Technology DLT , which is essentially a database spread over multiple operators nodes, computing devices, etc.

This is the technology that powers an entire cryptocurrency. There are many uses for blockchain outside of financial purposes such as supply chain management, tracking art ownership, and even digital collectibles. A term related to blockchain that will also be used throughout this article is a node. A node is the individual part of the larger data structure that is a blockchain. Without nodes, the entire system would fall apart. Cryptography and blockchain help cryptocurrencies create new coins, enforce legitimate transactions, and create a secure system.

Cryptocurrency can be sent directly between two people without the need for a broker. These transfers are done with very low processing fees that go to compensate the network, making it possible for users to bypass hefty transaction fees with more traditional payment transfer services. Bitcoin is considered the cryptocurrency flagship — the coin that launched thousands of coins. As seen on popular cryptocurrency price tracker CoinMarketCap.

Investing in just one Bitcoin is an expensive endeavor compared to other investment vehicles. Litecoin was made to process transactions faster and cheaper than Bitcoin.

These are strings of code that automatically execute a certain task when specific conditions are met. There are two different types of cryptocurrency: coins and tokens. A coin is a cryptocurrency that has its own blockchain, such as Bitcoin, Ethereum, Litecoin, Ripple. When someone says they "bought cryptocurrency", they are referring to buying coins. Tokens represent an asset or utility for a specific project and are sold or given to during the first public sale for a project, an Initial Coin Offering ICO , which mirrors an Initial Public Offering in the stock market.

There is another very important distinction with tokens. There are two general types of tokens: utility and security. A utility token is intended to only be used to buy products or services from the company or platform that issues them. A security token is essentially a digital version of financial security that acts as a share of the value of an enterprise, similar to how owning AAPL essentially means you own a chunk of Apple.

In other words, security tokens pay dividends, share profits, pay interest or invest in other tokens or assets to generate profits for the token holders. From the moment Alex submits his transaction to the blockchain, every node in the Bitcoin network receives the transaction request. Every node makes sure that:. Purchasing cryptocurrency has become a user-friendly process in the past year, with popular financial companies such as Robinhood and Square Cash jumping on board. Here are a few alternative ways that investors currently buy or trade cryptocurrency to help boost your cryptocurrency IQ.

Coinbase built its reputation as a leader in the cryptocurrency exchange space by drastically simplifying how users buy cryptocurrency. Coinbase has some of the highest exchange fees out of all of the cryptocurrency exchanges, with a 1. Coinbase Pro has more advanced and detailed trading charts and graphs, as well as more trading options.

Binance has hundred of different cryptocurrencies, advanced trading features, and robust trading charts and graphs. Binance charges a 0. Financial regulation is the product of disastrous market failures, and fraudulent trading.

The regulation is the product of great depressions around the world. What the United States government has been focused on in regards to cryptocurrency has been those laundering money or purchasing illegal substances and services through cryptocurrency, as well as identifying fraudulent ICOs, and collecting taxes.

Perhaps the most important and relevant piece of regulatory guidance for average cryptocurrency users is Notice issued by the IRS. Notice says that cryptocurrency is treated as property for federal tax purposes and falls under general tax principles. Thus, a gain or loss is recognized whenever a specific cryptocurrency is sold or used to purchase goods, services, or other cryptocurrencies i.

As someone diving into the cryptocurrency basics, it's important to understand the regulatory climate around cryptocurrency is in a constant state of flux — some details could even change tomorrow — with a few of the largest and most important landmark decisions still ahead of us. While cryptocurrency allows anyone to become their own bank, this also comes with some unpleasant realities.

No central bank means no customer service, no guaranteed asset protection or FDIC insurance for cryptocurrency amounts, and no representative to call when things go awry.

However, both of these very real threats can be avoided by following cryptocurrency best practices. Cryptocurrency basics and security hygiene revolve around keeping your private key secure.

Remember, your private key is complete access to your cryptocurrency. A cryptocurrency wallet is a platform that makes it possible to store, receive, and send cryptocurrency. For example, many cryptocurrency exchanges also provide users with a wallet feature. Additionally, if the exchange itself is hacked, the hackers could loot the cryptocurrency as well.

Another popular type of hot wallet is a software wallet, which is hosted as a program on your computer. For example, many cryptocurrency exchanges that hold massive amounts of cryptocurrency tend to keep a majority of the cryptocurrency in offline cold wallets to minimize the damage if a hack were to occur. Another type of popular cold wallet is a paper wallet, which is literally your private key printed or written down on a sheet of paper. The next step is enabling two-factor authentication 2FA.

If available, Google Authenticator is an extra layer of security. Google Authenticator is an app on phones that implements a 2FA verification and generates new codes every 30 seconds that must be entered correctly to gain access to an account.

As a writer, he focuses mostly on cryptocurrency, machine learning, and economic philosophy. How can stock investors determine if a stock is undervalued? Find out in this stock investing guide. Learn the elements of blockchain: an immutable ledger, blocks, miners, nodes, smart contracts, and more in this blockchain guide for beginners. Learn the advantages and disadvantages of margin trading in this stock investing guide.

Learn how to value a stock using the PEG Ratio. Learn the advantages and disadvantages of altcoins in this cryptocurrency guide. Also, learn the 5 most popular altcoins of Take This Class. What is Blockchain? Margin Trading Explained Learn the advantages and disadvantages of margin trading in this stock investing guide. The 5 Most Popular Altcoins of Learn the advantages and disadvantages of altcoins in this cryptocurrency guide.

What Is The Future Of Cryptocurrency?

Cryptocurrency comes under many names. You have probably read about some of the most popular types of cryptocurrencies such as Bitcoin, Litecoin, and Ethereum. Cryptocurrencies are increasingly popular alternatives for online payments. What is cryptocurrency? A cryptocurrency is a digital currency, which is an alternative form of payment created using encryption algorithms. The use of encryption technologies means that cryptocurrencies function both as a currency and as a virtual accounting system. To use cryptocurrencies, you need a cryptocurrency wallet.

All confirmed transactions are included in the block chain. It allows Bitcoin wallets to calculate their spendable balance so that new transactions can be.


Bitcoin is an alternative type of payment system. It is a type of internet or digital money. You can use it to do business outside mainstream financial services. Bitcoin is basically digital cash. It works just like an online wallet. You can send money in your online wallet to your friends, buy stuff online and offline, or even invest in it, like you would do with stocks. Bitcoin was created as a response to the criticism suggesting that big banks are corrupt and not accountable, constantly misusing clients' money and charging enormous fees.

Cryptocurrency and Blockchain for Teachers

cryptocurrency lesson plan

Infuse a financial literacy lesson with terms like bitcoin or cryptocurrency, however, and the lesson gets a bit more interesting. As it stands now, a high percentage of K students never getting the tools and training they need to make informed financial decisions. Only a third of states require high school students to take a course in personal finance , while less than half require them to take a course in economics before graduating. So in a push to make learning more relevant—and fun—a pair of startups, BitLearn and Pigzbe , are fusing gamification with finance, propped up by digital currency tokens.

Type of English. Lesson time.

Cryptocurrency Basics: A Beginner’s Guide (2022 Update)

While many people have heard of Bitcoin, far fewer understand it. In short, Bitcoin is a digital currency that allows transactions independent of the banking system. Lately, many people are buying Bitcoin purely as a financial investment, hoping it will appreciate. So which is it—currency or financial asset? Read more about it in the March issue of Page One Economics.

Digital Currency Bitcoin Attracts New Mainstream Appeal

These are just two examples of applications that can be covered by computer science education, showing how it can be applied in the real world. Blockchain instructs on data structures and abstract math, while crypto adds in financial and investing literacy. This is being widely adopted and expanded upon, starting up early to hone critical logic and quantitative skills early in life. The computer science job market is strong, and the number of computer science students doubled just from to With these trends showing no signs of stopping, it makes sense to start laying the foundation during elementary and middle school.

Rachel Weber. Strand 9 Lesson Plan. International Regulation of Bitcoin. Application Question: Should new forms of currency be regulated on an international.

SQUID token mayhem has lessons for crypto investors

Raise your hand if you've got a nagging feeling "I should really be talking about Bitcoin in class" but a sinking feeling, "I'm not sure I'm an expert on the topic. Clair High School, St. It's got all the components of a full lesson, including a proper "Bell Ringer," a slide presentation, and student handout.

The brush with crypto offers some lessons for regulation

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What Is Cryptocurrency: Types, Benefits, History and More

It will also examine the accounting and regulatory, and privacy issues surrounding the space. Bitcoin , blockchain , initial coin offerings , ether , exchanges. Originally known for their reputation as havens for criminals and money launderers, cryptocurrencies have come a long way—with regards to both technological advancement and popularity. The technology underlying cryptocurrencies has been said to have powerful applications in various sectors ranging from healthcare to media. With that said, cryptocurrencies remain controversial. It will also examine the outstanding issues surrounding the space, including their evolving accounting and regulatory treatment. Cryptocurrencies are digital assets that use cryptography , an encryption technique, for security.

Technology is both a blessing and a bane. Even what once seemed a tangible national foundation—the monetary system established under the U. Department of the Treasury with physical dollars and coins—now faces competition in the cyber world. Cryptocurrencies such as bitcoin are increasingly researched, debated, used for purchases and considered an investment option internationally.

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  1. Mikakree

    Incredible sentence, I like it :)