FAQ

The overall name of all the digital assets in the cryptocurrency space. You can not hold one physically in your hand so don't get scammed.

In simple terms centralized is when it is governed by one group(board members) or organization. Decentralized is when no one group(board members) or organization controls it. It is run by the community.

Example: US dollar is centralized

Example: Bitcoin is decentralized. No one owns it.

In simple terms a pathway in which the cryptocurrency is sent to make sure it is safe and secure. It keeps a record of all of the transactions and data made on it forever. (A Digital Ledger)

Coins are cryptos that run on its own network like Eth runs on the Ethereum network and Matic runs on the Matic/Polygon network.. Tokens are that usually run on another network such as Kin runs on the Solana network or OKLG runs on the BNB & Ethereum network.

Example: Coins - This is like when amazon ships its own product across amazon.

Example: Tokens - They are like when people build up their own brand on amazon and ship it through amazon.

A stable coin is exactly how it sounds. It will stay stable at the same value. This mean it will always be equal to a dollar or whatever currency you are using. It will not increase or decrease in value like other cryptos. But, it is still a crypto currency.

No!!! Bitcoin is like a pie. You don't have to buy a whole pie you can buy a piece /slice of a pie. You can also say Bitcoin is like a dollar. You don't have to have a whole dollar. You can have 10 cents, 50 cents of a dollar. So, don't be nervous about buying Bitcoin. You can spend $10 or less and still own some Bitcoin.

This just depends on you. No one can tell you have much to invest. You have to choose how much you are comfortable investing. You can invest as little or as much as you want. It is your choice!

FOMO - Is where you let your fears and anxiety kick in thinking you have missed out on a buying opportunity and jump in at the wrong time. Then you start losing money because you jumped in when the market was to high and starting pulling back/Correcting. DON'T FOMO like we used to. Stick to your own personal strategy!

FUD - Fake information that will scary you from getting in. Telling you lies or miss informing people so that they will get scared, cash out at the wrong time and lose money. STICK TO YOUR STRATEGY!

Simply put it will be something everyone sees as valuable and has worth. Everyone will want it because it will be easy to use, easy to send, and easy to cash out to get your money.

Yes! You can use it to send anything you need encrypted or secure. Some examples are like medical records, business information, law documents and personal information.

Exchanges: This is when you store it on a certain website like Coinbase, Binance, Kucoin, or Kraken. (least safe)

Soft Wallets: Is when you store it on an app like Metamask, or Trust Wallet (safer)

Ledgers: Is when you store it on a drive that is not connected to anything. (safest)

*But remember the level of safety is just built on our own personal opinion. Because if you are not good with keeping up with things then a ledger might not be good for you. On the other hand if you let everyone use or borrow your phone and computer then websites and soft wallets might not be good for you. Its what is best for you.

It literally means alternative coin or something alternative to Bitcoin. So any other coin that is not Bitcoin is an Altcoin! Since Bitcoin was the first cryptocurrency.

Decentralized finance is when a blockchain built that allows digital assets to be borrow or lend without a central organization/bank.

The fees you pay to make transactions(buying) or sending crypto. The cost of crypto gas fees for buying usually only affects soft wallets. It can be a $20 gas fee to buy a certain crypto or $300 dollar gas fee. It just depends on how busy is the network.

Layer 1 is the foundation. What everything is built on. Layer two are build on top of level 1. Then level 3 are like the dapps/apps that are built on top of layer 1.

Example. Layer 1 is a state. It is the foundation.

Layer 2 is like a town built in the united state

Layer 3 is like all the businesses/apps/dapps. The things you actually see and use

Example: Layer 1 (Eth), Layer 2 (Matic), layer 3 (OpenSea)

**This is changing because some are scaling up so some might move to level 2.**

Example 1: If you are buying 1 Bitcoin for $50,000 and have a slippage of 1 percent. That means you can be paying between 50,000 to 50,500 because it has a 1% slippage. Which means $500 dollars is being added.

Example 2: Saying you are swapping 100 USD for Matic and you have a slippage of 6%. This means you could only be buying $94 worth of Matic because it takes 6% slippage which is $6 dollars in this case. This means you will get less Matic than you may have wanted. So, always watch you slippage.

How it works

Example 1: 1%= .01 x whatever currency you are buying with

Example 2: 6%=.01 x Coin

Example 1: NO! LOL

Throughout the classes you have heard us say that if you send Bitcoin from an Ethereum network then you need to receive it using an Ethereum network. Once it is on the exchange you can now send it using other networks like Tron, Matic and etc. But! You still need to send it from a Matic network to another Matic wallet or exchange.

This is a complicated question that all depends on your own trading. You need to ask your own tax person.

You can buy cryptos on exchanges and wallets.

This all just depends up to you and your strategy. There are some people in our group that buy only on exchanges, some only on soft wallets and others on both. It all just depends your way of trading.

Decentralized autonomous organizations is when an organization is being ran by the community and not just one central group or board. This is when no matter how much money/crypto you have you still have input into the organization.

Dollar-cost averaging is when no matter if the market is bullish or bearish you are continuing buying crypto with a certain amount at a set time.

Example: If you have made up you mind to buy $200 of Bitcoin every month then you will but it regardless of the price. It could be $20.000 0r $60,000. It doesn't matter because you are in it for the long term to gain maximum profits.

Yes you can. Exchanges can be hacked. Wallets can get hacked too. The ledger can be stolen, missed placed or broken. Whatever method you use make sure that you protect it or keep it vey safe. The better the password the better you are protected. But can the blockchain be hacke? It

It is very unlikely that someone can hack a blockchian once you have sent it. They would have to hack over 50 to 60% of the network once it is being processed. The time and amount of money it would take to hack it would cost more then what they are trying to get. Especially if you only sending 100 dollars LOL

*Bearish market: When the market is trending down/going down. People are pulling money out of the crypto market. They are cashing out.

*Bullish market: When the market is trending up/going up. People are putting money in the crypto market. They are buying more crypto.

*Consolidating market: When the market is moving sideways. This means people are not putting money in the market or taking money out. Or the same amount of money that is going in is the same out that is coming out. So, the market is not going up or down it is just staying steady and flat. People are usually are just holding their cryptos.

*Forks are when the rules of that particular blockchain is changed.

* Halvings are when the rewards change. Example if you mine bitcoin today you might get 50 bitcoins after you break/solve each block. But after the halving you might only get 25.

*Forks are when the rules of that particular blockchain is changed.

* Halvings are when the rewards change. Example if you mine bitcoin today you might get 50 bitcoins after you break/solve each block. But after the halving you might only get 25.

Sites that are built on a decentralized platform that can not be taken down by regular authorities or government because of certain things. It is a one time fee & you won it for life.

When you lose all your money/assets in a trade or when a company has to sell off everything to pay for there loses.