Why learning is important? Ready to start learning? ✅ Yes
WEEK 1 Money basics:
1. What is Money? What is money? ✅ A medium of exchange Coins were better than commodity money because: ✅ They were easy to carry and count Why have people started exploring cryptocurrencies and new forms of money? ✅ Modern money isn't backed by anything 2. Backed Money vs. Fiat Money Paper money before the 1900s had stable purchasing power because ✅ It was backed by gold Modern fiat money has value because ✅ The law makes it a legal tender What is the average lifespan of fiat currency? ✅ 30 years 3. Money Printing and Inflation Money printing leads to: ✅ Money losing value Savings don't work as well as you'd like to because: ✅ Inflation makes money lose value How much value has the US dollar lost in 50 years? ✅ 85% 4. Electronic Money and Payment Systems What percentage of the world's money exists as physical cash? ✅ 8% Do banks hold clients money in cash? ✅ No. They only store a reserve - 10-20% of deposits in cash. Why do banks fail? ✅ They don't have enough real cash Money in which form can you truly own? ✅ Cash 5. Limitations of Traditional Banking How much do banks make by charging fees? ✅ Over $34 billion a year. What is the "bounce fee"? ✅ It's the fee for failed payment. Why 1.4 billion people are unbanked? ✅ They can't afford banks' service fees. Where do most unbanked people live? ✅ African countries 6. Trading & Why Most Traders Lose Money How many traders actually make a profit each year? ✅ 1.6% Why do most new traders fail? ✅ They don't have knowledge and rely on luck Do most traders lose money in all markets? ✅ Yes. Most traders lose money no matter which market they trade. What is the percentage of novices who will quit trading in the first year? ✅ 80% 7. Online Betting and Forex What is the vig? ✅ The percentage fee. How much do casinos earn in a year? ✅ Over $60 billion Is it possible to make a living by betting and gambling? ✅ It's impossible to win consistently because of the vig. What is the most unfair gambling activity? ✅ Binary options The vig of 7% means that a player betting $100 can have a payout of ✅ 93
WEEK 2 Crypto basics:
1. What is Decentralization? What is a centralized system? ✅ A system where one central actor can control the whole system. What is a decentralized system? ✅ A robust and highly reliable system without a central entity. How were participants' bank accounts affected during the 2022 protests in Canada? ✅ Their accounts were frozen by government order. 2. How Blockchain Works What is blockchain? ✅ A special kind of database. Do Bitcoin transactions ever get deleted? ✅ No, Bitcoin blockchain stores all transactions and never deletes them. How are blockchains protected from missing and corrupted data? ✅ Each node stores its own copy of the blockchain. 3. Cryptography basics Why are cryptocurrencies called so? ✅ They use cryptography to maintain security. What is used to sign a cryptocurrency transaction? ✅ A private key. Why do blockchain networks store all old transactions? ✅ To verify users' balance. 4. Real-World Applications of Blockchain What was Bitcoin's original purpose? ✅ A peer-to-peer system for transferring digital assets. Blockchains are useful in every industry that needs... ✅ Accurate record tracking and automated value transfer. What benefit blockchain networks CAN NOT bring? ✅ Consistent energy generation. 5. The Birth of Cryptocurrency 1. What is the common problem for all money? ✅ The counterfeit problem. 2. When did researchers start experimenting with the digital money concept? ✅ In the 1980s 3. When was Bitcoin introduced? ✅ 2008 4. What does Bitcoin use instead of a single centralized authority? ✅ Permissionless decentralized network of nodes. 5. What consensus mechanism does Bitcoin use? ✅ Proof of Work 6. Cryptocurrency vs traditional banking 1) How is cryptocurrencies superior to fiat money? ✅ It doesn't need intermediaries to work. 2) How does Bitcoin protect users' funds on addresses? ✅ With cryptography. 3) What do banks call cryptocurrencies? ✅ A threat to financial stability. 7. Comparing Bitcoin, Ethereum, and other blockchains ✅ 1. Ethereum ✅ 2. Smart contracts ✅ 3. Devs invent something better and new. ✅ 4. ✅ 5. Are driven by hype and speculation, lacking intrinsic valu
WEEK 3 Safety in Crypto: .
What are Wallets and Their Types 1. What do crypto wallets actually store? ✅ Private keys. 2. Where do non-custodial wallets store private keys? ✅ On the device where the wallet is installed. 3. What kind of wallet is Metamask? ✅ Non-custodial wallet. 4. How many millions of users do Ledger wallets have? ✅ 6 2. Setting up Your Wallet 1. How are non-custodial wallets better than custodial ones? ✅ Non-custodial wallets let users control their keys and funds. 2. Why is it important to install wallets from the official websites? ✅ To prevent installing fake apps. 3. What does the seed phrase contain? ✅ A private key. 4. How many millions of USD were stolen due to poor private key management in 2023? ✅ 560 3. Wallets and Private Keys 1. What does it mean to backup a crypto wallet recovery phrase? ✅ To copy it to a safe place. 2. What is the best place to store a wallet backup? ✅ A notepad, a USB stick, or any other offline physical storage 3. Who you can trust with your recovery phrase or private key? ✅ No one. 4. What does a recovery phrase look like? ✅ 24 words 4. Advanced Security Measures 1. What does 2FA stand for? ✅ Two-factor authentication 2. How are multisignature wallets different from regular ones? ✅ They require a transaction to be signed with multiple private keys 3. What is the safest wallet in the list? ✅ Hardware wallet 4. Pick the hardware wallet. ✅ Ledger 5. Protecting Your Digital Identity 1. Why it's important to keep crypto holdings in secret? ✅ There's a chance thieves will use this information to rob you 2. What does cryptos address pseudo-anonymity mean ✅ One can't identify the wallets owner o identity without additional hints. 3. Why it's not wise to share your phone number and other contacts online? ✅ You'll be targeted by scammers 4. How many millions of USD the most famous SIM swapping gang has stolen? ✅ 400 6. Understanding Scams in Crypto - Part 1 1. What is a Ponzi scheme? ✅ A scam that pays returns to older investors using the money from new investors. 2. What is a rug-pull? ✅ A project that ends with founders stealing all invested money, rugging investors. 3. How do scams lure crypto newcomers into investing money into them? ✅ They promise way higher returns than others exploiting greed. 4. How many billions were lost by the investors of OneCoin, the biggest crypto scam in history? ✅ 4 7. Understanding Scams in Crypto - Part 2 1. What is phishing in crypto? ✅ Luring people into fake apps to steal o their crypto. 2. How do romance scams trick people into sending crypto assets? ✅ By building fake virtual relationships and asking for funds. 3. What are crypto drainers? ✅ Malicious smart contracts which drain the wallet once it is connected. 4. The OpenSea phishing hack happened in .. ✅ 2022
WEEK 4 Exchanges in Crypto: .
Types of Exchanges in Cryptocurrency 1. What is one of centralized exchanges downsides? ✅ Funds security 2. What is a key feature of decentralized exchanges? ✅ DEX use smart contracts 3. What was the centralized exchange incident that caused $8 billion in losses? ✅ FTX exchange 4. How many million people use centralized exchanges? ✅ 500 2. Centralized Exchanges (CeFi): Operation and Basics 1 - What is KYC? ✅ A client identification procedure 2 - Where do CEXs store users' deposits? ✅ In cold wallets 3 - How do crypto withdrawal security measures work? ✅ They delay withdrawal or ask for additional confirmation to proceed 4 - What image is related to KYC? ✅ DRIVER'S LICENSE 3. Risks of Centralized Exchanges 1: What is the main risk associated with centralized crypto exchanges? ✅ They control users’ crypto and can mismanage it, leading to losses 2: What was the cause of QuadrigaCX losing $190 million of users’ funds? CEO died and took all keys and passwords with him 3: Why have FTX users lost their funds? ✅ FTX used their funds for risky trades and lost them 4: How much BTC was stolen from the Mt. Gox exchange in 2014? ✅ 850000 4. Decentralized Exchanges (DEXs) 1. How DEXs are better than CEXs? ✅ They don't require depositing funds and trusting them. 2. DEXs infrastructure and operations are based on... ✅ Liquidity pools. 3. Decentralized exchanges enable users... ✅ To provide liquidity and share trading fees. 4. How much billions of USD does Uniswap have in its liquidity pools? ✅ 4.7 5. On-Ramps and Off-Ramps 1. What is the benefit of buying crypto on CEX? ✅ Users can buy crypto directly to their accounts to start trading. 2. What is the benefit of using fiat on-ramp platforms? ✅ They are often integrated with wallets and apps. 3. How do P2P platforms work? ✅ They are like bulletin boards, where users publish proposals to buy or sell crypto for fiat. 4. What was the total transaction volume on the Binance P2P market in 2020, in billions of USD? ✅ 7 6. Stablecoins Explained 1: What are stablecoins? ✅ Tokens that maintain a stable price and are pegged to some real-world assets. 2: How do centralized stablecoins are backed? ✅ They are backed with fiat money at a one-on-one rate. 3: How do decentralized stablecoins are backed? ✅ They are overcollaterized with crypto 4: What coin is a stablecoin? ✅ Tether USDT
