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Crypto Course For Beginners



Published
Crypto Course For Beginners and Experienced Traders - part 2 (Two)

Part 1 (One) https://youtube.com/playlist?list=PLHMMauU2ZhyEhiOaBGdo-kVC5PbhjG8V2

Outline
What is Cryptocurrency
Types of Cryptocurrencies
What is Crypto Trading
Binance

What is Cryptocurrency………..
The prefix crypto- stands for "cryptography," which is a technology that keeps information safe and hidden from attackers. You may have heard of cryptography in history class — it was used to send and receive secret messages by the Allied Forces in World War II.

Cryptocurrency is an electronic money created with technology controlling its creation and protecting transactions, while hiding the identities of its users.

Three main Types of Cryptocurrencies
Bitcoin
Altcoins
tokens/dApps

Bitcoin
In 2008, the idea of Bitcoin was revealed. Someone named Satoshi Nakamoto published the White Paper online. However, it was later revealed that Satoshi Nakamoto was not this person’s real name. Even today, no one knows the real name of the creator of Bitcoin!

Altcoins
Next, we have altcoins. Right now, there are more than a thousand altcoins in existence! But don’t let that number scare you — the majority of altcoins are just alternate versions of Bitcoin with minor changes. That’s how they got the name ‘altcoins’.

It’s important to understand, though, that not all altcoins are just alternate versions of Bitcoin. There are some that are very, very different from Bitcoin, and have very different goals/purposes.

Tokens (for dApps)
The third main type of cryptocurrency is a token — Compared to the other two main types of cryptocurrency, they are completely unique in the fact that they do not have their own blockchain. They are used on dApps (decentralized applications);they can be built on blockchains like Ethereum and NEO. The dApps are built to use smart contracts, which is why they use tokens. Their tokens don’t have to represent a physical thing like electricity or a house, though. They can instead be used to purchase things on the dApp. Either that, or they can be used to get certain advantages — things like discounted fees and voting fees.

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Category
Cryptocurrencies
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