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Your brightest guide through the crypto space

Our mission is to be your trusted ally in the crypto universe, empowering you with knowledge and guidance to prevent falling victim to common mistakes and scams.

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Quick explanation of crypto

Cryptocurrency, or crypto for short, is a digital or virtual form of money that uses advanced encryption techniques to secure transactions and control the creation of new units. It operates independently of any central authority, like a government or bank.

 

Cryptocurrencies are built on a technology called blockchain, which is like a public, decentralized ledger that records all transactions. This makes crypto transactions transparent and secure.

 

The most well-known cryptocurrency is Bitcoin, but there are many others called altcoins, each with its own unique features and purposes. Some cryptocurrencies aim to improve financial systems, while others focus on privacy or providing specific services.


Remember, the crypto world can be exciting but also volatile, so it's advisable to invest only what you can afford to lose and take necessary precautions to protect your assets. As you learn and gain experience, you can explore the various opportunities and possibilities that crypto offers. See video below ⬇

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Blockchain technology

Blockchain is a decentralized, distributed ledger technology that records transactions across multiple computers in a way that ensures security, transparency, and immutability. This means that once a transaction is recorded in a block and added to the chain, it is very difficult to alter. Each block in the chain contains a number of transactions, and every time a new transaction occurs on the blockchain, a record of that transaction is added to every participant's ledger.

 

The decentralized nature of blockchain technology means that it does not rely on a central point of control. Instead, it uses a consensus mechanism among a network of users to validate transactions. This makes it highly resistant to tampering and fraud. Blockchain is the technology underpinning cryptocurrencies like Bitcoin, but its potential applications extend far beyond digital currencies, including supply chain management, secure voting systems, identity verification, and more. See video below ⬇

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Crypto Categories

Cryptocurrencies can be categorized into several types based on their underlying technology, purpose, and functionality. Here are some common categories:

 

1. Bitcoin and Altcoins: Bitcoin was the first cryptocurrency and remains the most well-known. Altcoins refer to any cryptocurrency other than Bitcoin. Examples include Ethereum, Litecoin, Ripple, and many others.

 

2. Utility Tokens: These cryptocurrencies are designed to provide access to a specific product or service within a blockchain ecosystem. Examples include Ethereum's Ether, which is used to pay for transaction fees and computational services on the Ethereum network.

 

3. Stablecoins: These cryptocurrencies are pegged to the value of a stable asset, such as fiat currency (e.g., USD, EUR) or commodities (e.g., gold). Stablecoins aim to minimize price volatility and are often used for trading and as a medium of exchange in crypto markets.

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4. Non-Fungible Tokens (NFTs): These are unique digital assets that represent ownership or proof of authenticity of digital or physical items, such as art, collectibles, virtual real estate, or in-game items.

 

Understanding these categories can help you navigate the diverse world of cryptocurrencies and better comprehend their different use cases and functionalities. See video below ⬇

Getting Started Guide

1

Setting Up Your Crypto Wallet

What is a Crypto Wallet? 

A crypto wallet, like Metamask or Trustwallet, is essentially a software tool that allows you to manage and access your tokens. It's important to understand that your tokens are stored on a blockchain, not within the wallet itself.

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To access your tokens, you typically need to input a specific set of words (referred to as a seed phrase, which can be 12 or 24 words) into the wallet. These words can be utilized across multiple wallets, giving you the flexibility to create multiple access points to your tokens.

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However, it's crucial to bear in mind that sharing your seed phrase with anyone, is akin to giving them access to both your credit card and its pin code! You should be the only person who ever possesses or needs those words when establishing a new access point to your tokens.

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Common types of Wallets: 

Software wallets: These are applications or programs that can be downloaded on your computer or mobile device to access your digital assets. They are convenient to use but are more vulnerable to hacks compared to hardware wallets.

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Hardware wallets: These offer enhanced security by storing your private keys offline on a physical device.  They are considered a more secure option because they are not connected to the Internet, which reduces the risk of hacking.

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Feel free to utilize both software and hardware wallets to enhance the security and convenience of managing and accessing your digital assets stored in a crypto wallet.

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2

Choose a Crypto Exchange

What is a Crypto Exchange?

A cryptocurrency exchange is a platform that allows users to buy, sell, and trade digital assets such as Bitcoin, Ethereum, and other cryptocurrencies. These platforms act as intermediaries that facilitate the exchange of digital currencies for fiat currencies (like USD, EUR) or other cryptocurrencies.

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Here are key points about crypto exchanges:

1. Trading Pairs: Exchanges offer various trading pairs, representing the currencies that users can trade against each other. For example, BTC/USD represents the exchange rate between Bitcoin and US dollars.

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2. Market Orders: Users can place market orders to buy or sell cryptocurrencies at the current market price. They can also place limit orders to specify the price at which they want to buy or sell.

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3. Fees: Exchanges charge fees for trades, withdrawals, and deposits. It's essential to understand the fee structure of an exchange before trading on it.

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4. Regulation: Some exchanges operate under regulatory frameworks to ensure compliance with anti-money laundering (AML) and know your customer (KYC) regulations. These exchanges may require users to verify their identity before trading.

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Before using a cryptocurrency exchange, it's essential to research its reputation, security measures, trading options, fees, and user feedback to ensure a positive trading experience.

3

Start Buying Cryptocurrency

To buy cryptocurrency, you can follow these general steps:

1. Choose a Cryptocurrency Exchange: Select a reputable cryptocurrency exchange where you can buy, sell, and trade cryptocurrencies. Some popular exchanges include Coinbase, Binance and Kraken.

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2. Create an Account: Sign up for an account on the chosen exchange by providing the required information and completing any identity verification procedures.

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3. Deposit Funds: Deposit funds into your exchange account using methods such as bank transfer, credit/debit card, or cryptocurrency transfer from another wallet.

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4. Select the Cryptocurrency: Choose the cryptocurrency you want to buy. Most exchanges offer a variety of coins, so you can select the one you're interested in purchasing.

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5. Place an Order: On the exchange platform, place a buy order for the selected cryptocurrency. You can set the amount you want to buy and the price at which you want to make the purchase, depending on the exchange's order options.

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6. Store Your Cryptocurrency: Once your purchase is complete, transfer the cryptocurrency to a secure wallet for long-term storage. Consider using a hardware wallet for enhanced security.

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7. Monitor Your Investment: Keep track of your investment by monitoring price movements, market trends, and any news that may affect the value of your cryptocurrency holdings.

Crypto wallets such as MetaMask or Trustwallet are associated with decentralization.

A key benefit of utilizing a decentralized wallet within the crypto realm, as opposed to a centralized exchange (CEX), is the absolute control and ownership of your private keys. This means that you are not dependent on a third party to safeguard your funds, thereby reducing the risk of hacks or fraudulent activities that can occur on centralized exchanges.

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Additionally, opting for this type of wallet broadens the scope for users to trade and access a more extensive range of tokens that may not be found on CEX platforms. It also grants users the ability to engage with diverse decentralized services such as decentralized finance (DeFi) platforms, decentralized exchanges (DEXs), and other decentralized applications operating on blockchain networks, fostering a more decentralized ecosystem for users.

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An advantage of opting for a centralized exchange (CEX) over a decentralized platform is the typically more user-friendly interfaces and enhanced customer support services. These features can simplify the process for beginners to buy, sell, and trade cryptocurrencies without needing to manage their private keys or be concerned about certain security measures.
 
Furthermore, a reputable CEX platform can showcase heightened liquidity and trading volume, allowing for swifter transactions and potentially granting traders access to more competitive pricing. 

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To optimize benefits, consider using a decentralized wallet for enhanced security and control over private keys, paired with a centralized exchange for convenient interfaces to engage in crypto transactions.

This dual approach combines the security of a decentralized wallet with the advantages of a centralized exchange enhancing the overall crypto experience.

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