1: What Is Cryptocurrency & Blockchain?
Introduction
Welcome to Bold Hustles Class! In this first course, we’ll break down the foundation of cryptocurrency and blockchain technology. Whether you’re new to the space or looking to sharpen your knowledge, this course will set you up with the basics.
Lesson 1: Understanding Cryptocurrency
- Definition: Digital or virtual currency that uses cryptography for security.
- Key Features:
- Decentralized (not controlled by banks/governments).
- Uses blockchain for transparency and security.
- Can be used for payments, investment, and more.
- Examples of Popular Cryptos:
- Bitcoin (BTC) – The first and most well-known cryptocurrency.
- Ethereum (ETH) – Smart contract platform.
- Other Coins – Binance Coin (BNB), Solana (SOL), XRP, etc.
Lesson 2: What Is Blockchain?
- Definition: A distributed ledger technology that records transactions securely and transparently.
- How It Works:
- Transactions are grouped into blocks.
- Each block is linked to the previous one, forming a chain.
- Once a block is added, it cannot be changed, ensuring security.
- Uses of Blockchain:
- Finance (DeFi, crypto transactions).
- Supply chain management.
- NFTs, gaming, and Web3 applications.
Lesson 3: Why Cryptocurrency Matters
- Financial Freedom – No need for traditional banks.
- Transparency & Security – Immutable transactions.
- Global Transactions – Borderless payments with low fees.
- Investment Opportunities – Crypto trading, staking, and DeFi.
Bonus: Key Terms to Know
- Wallet – A digital tool to store your crypto (hot vs. cold wallets).
- Private Key – Your secret code to access your crypto (never share!).
- Mining & Staking – Ways to earn crypto.
- Smart Contracts – Self-executing contracts on the blockchain.
Final Thoughts
This is just the beginning! Cryptocurrency and blockchain are shaping the future of finance, and by learning the fundamentals, you’re already ahead of the game. Stay tuned for the next course as we dive deeper into the crypto world.
