Member-only story
Crypto 101: 10 Steps to Navigating Finances in the Blockchain World
The world of cryptocurrencies and blockchain can be a bit overwhelming, especially for those new to the financial scene. But fear not! This beginner-friendly guide will walk you through the basics of managing your finances in the crypto space, without using complex financial jargon.
1. Crypto Basics: What’s All the Buzz About?
Cryptocurrencies are digital or virtual currencies that use cryptography for security and operate on a decentralized technology called blockchain. Think of them as online money that’s not controlled by any government or central authority.
Cryptocurrencies are a form of digital or virtual currency that relies on cryptography for security. Unlike traditional currencies issued by governments (fiat currencies), cryptocurrencies operate on a decentralized technology called blockchain. Blockchain is a distributed ledger that records all transactions across a network of computers, providing transparency and security.
Bitcoin, created in 2009 by an unknown person or group using the pseudonym Satoshi Nakamoto, was the first cryptocurrency. Since then, thousands of alternative cryptocurrencies (often called altcoins) have been developed, each with its unique features and uses.
