In simple words - cryptocurrency or crypto is just a form of money on the internet.

Like how we pay each other in Dollars ($), Euros (€), or Rupees (₹) - payments
and trades can happen using crypto like Bitcoin (₿) and Ethereum (ETH).

✍️ Like 1 Ethereum (ETH) can be traded to receive 0.05 Bitcoin (BTC) in return,
and vice-versa!
💡 There exist thousands of different kinds of cryptocurrencies - also called
crypto ‘tokens’ or 'coins' and trading between them is possible...

What is Bitcoin?
💡 It's the first, and the most popular cryptocurrency in the world! The entirety of
crypto began from the creation of Bitcoin.

⚡ Bitcoin is a digital currency, like money you can send online. Unlike your bank
account, it's not controlled by any bank or government. Instead, it relies on a
massive public network of computers to keep track of who owns what. This
makes it secure and allows for fast, international transactions!

What is Bitcoin?

💡 Fun fact: The creator of the most popular cryptocurrency in the world - Bitcoin,
is called Satoshi Nakamoto. Nobody knows who he is, what his real name is, or
where he lives. He holds 1 million tokens of Bitcoin, equivalent to more than 40
billion dollars today!
What is Bitcoin?

💡 Fun fact: The creator of the most popular cryptocurrency in the world - Bitcoin,
is called Satoshi Nakamoto. Nobody knows who he is, what his real name is, or
where he lives. He holds 1 million tokens of Bitcoin, equivalent to more than 40
billion dollars today!
The crypto world is filled with fun stories!

💡 The Bitcoin Pizza Moment, the most popular Bitcoin incident!

*️⃣ In 2010, when Bitcoin was new and weird, a programmer named Laszlo craved
pizza! But instead of dollars, he offered thousands of Bitcoins (worth almost
nothing then) to anyone who'd deliver him two pies.Someone took the chance,
traded the Bitcoins for real money, and delivered the pizzas.
*️⃣ Now, those Bitcoins would be worth millions! It's a funny story that shows how
early belief in something new can have surprising consequences.
Crypto and Governments

Even governments love crypto!

1️⃣ El Salvador gave Bitcoin a legal tender status.

2️⃣ UAE's national web3 strategy is exploring ways of using crypto networks at a
large scale.

3️⃣ Even China, with stricter crypto stances, explores crypto networks for various
government uses.
4️⃣ And of course, the US SEC's approval of Bitcoin and Ethereum ETFs marks
a significant shift, allowing regular stock market investors to invest in these
cryptos!
5️⃣ And many many more examples of government adoption...

This is a fast-moving space, and with regulations still evolving, government

support is getting stronger 💪
These were just some of the examples of the impact that crypto, communities,
and web3 can bring about together! But what’s web3? Let’s jump in and know
more!

What's web3?

⚡ In simple terms: it’s just the regular internet, functioning along with crypto
(internet money) like Bitcoin, Ethereum, and others - but with a focus on
decentralisation and user-ownership.

But what does this mean?

💡 An example:
When you make a post on Facebook, you post via an account owned by
Facebook, that is on your name. You don’t actually own the account,
Facebook does.

It can sell your data without consent, unfairly ban you, or take a decision best
for them as a company when they’re in a disagreement with you. Web3
changes this.

Real-world examples of web3

*️⃣ New kinds of social networks in web3 allow you ‘own’ any posts you’re making -
that you can carry from one social network to another.

*️⃣ An entire community fairly hears disputes of users like you, and decisions that
are best for the community are taken by it, instead of just one entity like
Facebook.
💡 Example:
Content creators often complain about restrictions, earning less $ in ad
revenue, and so on.

Decentralized social networks like Lens and Farcaster provide not only the
ability to freely move across platforms, but also provide better revenue share
to creators - sometimes even via payment in their own crypto tokens, that can
gain value as the platform grows over time!

Web3 vs Web2 vs Web1

*️⃣ A decentralized social media is just one example of web3 bringing you fairness,
control on data, and transparency.

*️⃣ It applies to banking, voting, identity frauds, and many other realms of the world
💪
*️⃣ So unlike web1 and web2, in web3 you own your data. But how? Via your
wallet!
💡 Here is a simple example of how web3 differs from the Internet earlier.

#2: Setting up your own web3 wallet!

A simple walkthrough of how to set up your crypto wallet - in plain English.

What is a web3 wallet?

*️⃣ A wallet in web3 is where you keep all of your crypto.

*️⃣ It’s also who you are in web3.

*️⃣ Like how your email ID represents you in an email, or how your Instagram username

💡 You’ll use it for everything:

represents you on a post, your wallet address represents you here in web3.

> Logging in to websites

> Sending crypto to your friends
> Checking your cool digital collectibles - your avatars, art, coupons, etc
> Making trades from one crypto to another, like on a stock market
> and much more…

Your wallet address!

⚡ Every wallet has an address, and when you send crypto to your friend, it looks
like this:

0.2 ETH (Ethereum) sent:

> from: 0x5b76f5B8fc9D700624F78208132f91AD4e61a1f0 (your wallet address!)

> to: 0xd8dA6BF26964aF9D7eEd9e03E53415D37aA96045 (your friend’s wallet
address)

💡 This wallet address is like your bank account number, no need to memorize it.
It’s easily available, and you can copy and paste it when you want to send or
receive money ;)

Installing your own wallet!

Now, let’s install our own wallets :)

Creating a wallet is 100% free and super easy!

We have a bunch of wallet apps in web3 - and MetaMask is the most popular
one. Install the MetaMask wallet (browser extension) from here and let’s get
started! 👉
How to set up your MetaMask?
💡 MetaMask is the most popular web3 wallet in the world. Though we’ll only
explore the browser extension now, it’s also available as a mobile app.

*️⃣ Only 3 simple steps to set it up - and we’re ready to go!

This super-short video will help you out:

https://youtu.be/A7sbpFvkEe0

*️⃣ Step 1:
Once you download the browser extension - this page opens up. Click on
“Create a new wallet” and move on.

*️⃣ Step 2:

Create a ‘Strong’ password, confirm it, and get on to the next screen.

❗Step 3: *IMPORTANT*
Your 'Secret Recovery Phrase' here is your actual password. This is what will
give you access to your wallet whatever device you want to use it on. If you
lose this phrase, your wallet and all funds in it will be lost forever. No recovery
methods exist. Save it somewhere safe!

*️⃣ Step 4:

And we’re done! While finishing up, make sure you ‘pin’ your wallet on the top
of your browser for easy access.
Adding funds to your wallet…

So how can you get your regular money into the world of crypto?

⚡ On-ramp: Entering the crypto world by converting your regular money (fiat) to
cryptocurrency.

⚡ Off-ramp: Exiting the crypto world by converting your cryptocurrency back to

regular money (fiat).
There are different places that act as on-ramps and off-ramps, like:

*️⃣ Centralized exchanges (CEXs): These are popular platforms where you can
buy and sell cryptocurrencies, similar to buying stocks online. Eg: Coinbase,
Binance, etc.

*️⃣ Peer-to-peer (P2P) marketplaces: Here, you connect directly with another
person to buy or sell crypto.

*️⃣ Crypto ATMs: These ATMs allow you to buy crypto using cash. (Not as

⚡
common yet, but gaining traction)
Remember: On-ramp and off-ramp are country-specific and might have
different fees and requirements, so it's important to do your research before
choosing one.

💡 Since 2021, billions of $$$ have been on-ramped into the world of crypto
and this number grows bigger and bigger over every 3-year interval!

mportant steps to keep in mind…

You’ll need your wallet address in the world of crypto to be easily accessible, and
this is how you’ll be accessing it henceforth:

*️⃣ Click on the MetaMask ‘fox’ icon on top right of the browser. That’s how we’ll
open our wallet from now onwards!
*️⃣ Once your wallet opens, click on your address (in blue) to copy it.

*️⃣ On the top left, you can use the drop-down to select the ‘blockchain’ or
‘chain’ you want to be interacting with as well! But what is a blockchain, you
ask? Coming up next…

🤯 Before we move on to what 'blockchains' are, here's a fun fact:

*️⃣ Talking about losing access to funds, a British engineer called James
Howells accidentally threw a hard drive containing 7,500 Bitcoin in the trash.
This lost drive is now worth over $350 million.
*️⃣ He’s been offering the city officials up to $70 million to help him get it now.
And that’s why, you stay safe with your wallet phrase (which is like a password
to your identity, and net worth in crypto)!

#3: What the heck is a blockchain?

The word 'blockchain'

*️⃣ If you’ve been anywhere around crypto before, you may or may not have heard
the word ‘blockchain’, or as we call it in short - a ‘chain’ or a ‘network’.

*️⃣ Though we'd avoided this word while introducing crypto earlier, it is the most
important technology backing this world!
Just say it...

So what is a blockchain?

Imagine a Google Doc shared with your whole class. Everyone can see the
document and the history of changes made to it. New information gets added
to the document, but nobody can erase or change what's already written.
That's kind of like a blockchain!

*️⃣ Information is written down like new entries in the document.

*️⃣ Each entry is chained to the one before it, like the history of edits in the
Google Doc.
*️⃣ The whole class (or a bunch of computers) keeps a copy of the document,
making it super secure and hard to tamper with.

So what is a blockchain?

In simpler words: it’s a database. The entire world of crypto and everything we
do here rests on one or the other blockchain!

💡 Some examples of them are: Ethereum, Solana, Base, and others.

💡 A regular crypto user’s lingo around a blockchain:
*️⃣ “What chain are your assets on?” i.e. the blockchain on which a user’s crypto
tokens exist. Eg: Ethereum, Solana, Base, etc.
*️⃣ “What chain is the cheapest to use?” i.e. the least amount of gas fee (we’ll
learn about what this means) needed to use a particular chain.

Why is a blockchain so cool?

*️⃣ Trustworthy: Because no one can alter the information, blockchains create a
trusted system for recording transactions. This is especially useful for things like
cryptocurrencies, where you need to be sure your money is going where it's
supposed to.

*️⃣ More efficient: Blockchains can automate tasks and streamline processes,
making things faster and cheaper. For example, imagine a faster way to track
ownership of a car without needing tons of paperwork.
*️⃣ Transparency: Anyone can see the information on a blockchain (depending on
the type of blockchain), which promotes transparency and reduces the risk of
errors or fraud.
What happens on a blockchain?

⚡Analogy time ;)
*️⃣ Imagine a giant city. Like any city - each part of it has a different neighborhood,
with its own shops and rules.

*️⃣ Think of this entire city as a blockchain. There's an open record of everything
happening and systems (like the law, police, etc) to ensure things are secure.
Similar to the public ledger of a blockchain that everyone can see.

*️⃣ Now, each neighborhood in this city can be a different application built on the
blockchain. One might be a neighborhood for games, another for finance, and
another for art! These neighborhoods use their own special tokens, like a local
currency for that area. The rules might be slightly different in each one too.

*️⃣ So, just like a big city has many uses, a blockchain can have many
applications built on top of it, each with its own purpose and flavor, like DeFi,
gaming, etc.

💡 Fun fact: So many blockchains!

There are more than 1000 blockchains that exist today in the world of crypto
solving for one or the other purposes - or rather for a general purpose of
running web3 apps, and more of them keep getting made everyday! But do we
need so many blockchains? Only until they’re solving a unique problem...
Now there’s something called gas fees…

In simple words: gas fees are the fuel for crypto transactions. Think of them as
the tax you pay for doing literally anything on a blockchain.

*️⃣ Imagine you're sending a package across the country. The mail carrier
needs gas to deliver it, right? Gas fees in crypto work in a similar way.
*️⃣ They're the small fees you pay to process transactions on a blockchain
network, like Ethereum.

ere's a breakdown:

*️⃣ Think of gas fees as the fuel that keeps the blockchain running smoothly.

*️⃣ These fees are paid to validators (like mail carriers) who verify and record
your transaction on the blockchain.
*️⃣ The fees are tiny amounts of cryptocurrency, often paid in fractions of the
main coin (like pennies for gas).
Why are gas fees important?

*️⃣ Firstly, gas fees are paid in the ‘native’ token of a blockchain.
Example: gas on Ethereum is paid in the ETH crypto token, on Solana it’s paid in
SOL, etc.

*️⃣ They reward validators for their work, keeping the network secure and efficient.

*️⃣ They help prevent spam by making it slightly costly to send unnecessary
transactions.

💡 Remember: Gas fees are a normal part of using a blockchain network. They
help keep the system running smoothly and securely.
How much are gas fees?

*️⃣ Gas fees can vary depending on how busy the network is.
*️⃣ When there's a lot of traffic, like during peak times, fees can be higher.
*️⃣ Some tools can help you estimate gas fees before you make a transaction.

⚡ Here's the cool thing:

Even though gas fees exist, blockchain transactions are generally much
cheaper than traditional bank transfers!

💡 What are some of the cheapest chains to use?

*️⃣ Solana, Base, Polygon and BNB Chain are examples of some of the
cheapest chains to transact on, with gas fees per transaction being around
$0.0002 - $0.002.

*️⃣ Remember, cheap doesn’t cut if a blockchain doesn’t fulfill your purpose of
using it by not having the relevant applications, or tokens that you’re looking
for!
An example of gas fee in a transaction...

💡 Here is an example of gas fee for a transaction where a wallet is sending

another wallet some ETH tokens. You can see the estimated gas fee for using the
Ethereum blockchain in this case: $4.33 worth of ETH tokens.

Your wallet would open up on its own, to show a screen similar to this:

💡 Remember to check the native token of a chain before trying to onramp

assets on it and start using it.

*️⃣ Gas fee is like fuel.

*️⃣ If you don’t have the right token to pay for gas fee, no assets can be moved
on that chain, and your wallet can’t carry out ANY actions!

⚡ Note: These gas fees vary from chain to chain - and are dependant on how
many users are actively transacting on a chain at that moment.

*️⃣ Newer chains tend to facilitate faster and cheaper transactions!

----
*️⃣ Now that we’ve seen how to transact on a blockchain, let’s go see the most
basic kind of token transactions on a chain: exchanging/trading one token for
another - and moving tokens from one chain to another!
 NFTs and why they’re cool ;)
What is an NFT?

In simple words:

⚡ Like how we collect paintings, rare Pokemon cards, and other things - NFTs
are just a digital version of such collectibles, with lots of use-cases!
*️⃣ Any image, video or even GIF can be an NFT. It’s like making a regular image
or video (like a picture of your house, your painting, etc) a tradable crypto token
that others could purchase w/ cryptocurrencies or send to each other.

Significance of NFTs

💡 Imagine that ultra-rare gun skin you scored in your favorite game?
*️⃣ Now, picture owning it not just in that game, but forever, like a unique trading
card with a digital certificate. Sell it, trade it, even use it in other games!

*️⃣ That's the NFT magic - taking limited-edition digital items and putting them in a
global marketplace where you, the owner, call the shots. It's not just about games
anymore, but art, music, and even real-world treasures!
💡 But when an artist uploads their work as an NFT - I can always ‘right click
and save as’. Why pay to get the NFT then?

*️⃣ It’s like having a picture of the Mona Lisa, and saying that you own the
painting.

⚡ Think of NFTs like a certificate of authenticity: while the original work can
💡 The most widely known NFT collection in the world is the Bored Ape Yacht
be copied infinitely, the certificate lets you know which is the original.

Club, also know as the BAYC. Commonly referred to as the infamous monkey
images selling for millions of $$$ by the media.

Check it out here!

So why all the $$$?

💡 But why are some NFTs like the Bored Ape Yacht Club so expensive?
Think of certain NFTs like access to a country club. A place where some of the
city's elite families have access to. It's a thing of community and status

*️⃣ Scarcity and exclusivity: Many NFTs are limited edition, similar to rare trading
cards. This scarcity can drive up the price, especially if there's high demand for
the NFT.

*️⃣ Investment potential: Some people believe NFTs are a new asset class with
potential for future growth, similar to early investments in stocks or
cryptocurrency.
*️⃣ Supporting creators: Purchasing an NFT can be a way to directly support
artists and creators who produce the digital work.
*️⃣ Community and status: Owning a valuable NFT can grant access to

⚡
exclusive online communities or social status within certain circles.
The prices of some NFTs are hence mostly attributed to several factors,
not just the value of the digital file itself!
What does it mean to ‘mint’ an NFT?
⚡ In common crypto talk - minting an NFT usually means to be the first
owner of it. To be the owner of the first wallet that has held that NFT, instead
of receiving or purchasing it from another user!

*️⃣ In general, minting an NFT is like taking a digital file and turning it into a
one-of-a-kind, collectible item.

*️⃣ Imagine a special certificate that says you own the original digital file, like a
piece of artwork, a song, or even a pair of virtual sneakers.

*️⃣ A ‘digital file’ here could be anything creative like an image, video, or even a
tweet. This is the process of creating the NFT and putting it on the blockchain.
It's like putting a stamp on your collectible to prove it's real.

💡 So, minting an NFT makes your digital file unique and gives you proof that
you own it. Anyone can see the file online, but only you own the official
version with the NFT.
💡 Fun Fact:
The Ukrainian government raised over $60 million through selling NFTs of
their historical landmarks! This showcases how NFTs can be a tool for
financial support during times of crisis.
Read more.
How are NFTs being used today? (Part 1)

Apart from the crypto world trading NFTs on marketplaces like Opensea - there
are lots of brands experimenting with NFTs as well!
*️⃣ Fashion: Dolce & Gabbana created a record-breaking NFT collection of virtual
and physical fashion items. Adidas offers exclusive digital wearables as NFTs.

💡 Example: owning the NFT for a physical sneaker that you bought, could let
you own and sport the same purchase of yours in a special virtual metaverse
world.
*️⃣ Loyalty Programs: Companies are experimenting with NFTs for loyalty
programs, potentially offering unique rewards or experiences to NFT holders.

💡 Example: Starbucks had a program where if you fulfilled certain

achievements like visiting every Starbucks store in a city, etc - you’d be
eligible for an NFT, that would later let you redeem special discounts and
experiences because of being a loyal customer!
How are NFTs being used today? (Part 2)

*️⃣ Sports: The NBA has released NFT collectibles featuring iconic moments and
highlight reels. The Chicago Bulls even auctioned off NFTs representing their
championship rings.

*️⃣ Gaming: Games like Axie Infinity and CryptoKitties allow players to own and
trade unique digital creatures as NFTs. These creatures can have value based on
their rarity and in-game functionality.

*️⃣ Luxury Goods: Luxury brands like Louis Vuitton and Gucci have created
exclusive NFT experiences tied to their games. Owning these NFTs can grant
access to virtual items or events within the game.
*️⃣ Ticketing: Event organizers are exploring NFTs for ticketing, potentially
offering benefits to NFT holders like early access or exclusive merchandise.

*️⃣ Art & Collectibles: Traditional auction houses like Sotheby's and Christie's
are now offering physical artworks alongside NFTs representing ownership.