Hey guys, I'm starting a #100DaysOfCrypto #Tweeseries (Tweet Series).
Purpose: Awareness & Education
Theme: Short & Simple
Scope: Basic to Advance
All of the tweets will be here, chronologically.
Share with your friends and Colleagues!
Purpose: Awareness & Education
Theme: Short & Simple
Scope: Basic to Advance
All of the tweets will be here, chronologically.
Share with your friends and Colleagues!
Day 1: What is #Cryptography?
A method to secure information or hide the real meaning and vice versa.
Eg. Msg: "I AM LAXMAN" 🙋🏻♂️
Let's hide real meaning by applying a rule: Replace letters with 2nd successive letter.
Secured Msg: J BN MBYNBO
#100DaysOfCrypto #Tweeseries
A method to secure information or hide the real meaning and vice versa.
Eg. Msg: "I AM LAXMAN" 🙋🏻♂️
Let's hide real meaning by applying a rule: Replace letters with 2nd successive letter.
Secured Msg: J BN MBYNBO
#100DaysOfCrypto #Tweeseries
Day 2: What is #Blockchain?
It’s like a bank’s database with Credit & Debit records stored securely forever, and no one can delete these records
You send money with a private key here as you do with OTP for Bank.
Money is called Cryptocurrency here
#100DaysOfCrypto #Tweeseries
It’s like a bank’s database with Credit & Debit records stored securely forever, and no one can delete these records
You send money with a private key here as you do with OTP for Bank.
Money is called Cryptocurrency here
#100DaysOfCrypto #Tweeseries
Day 3: What is #Bitcoin?
Bitcoin is beyond money, not a blockchain.
BTC is its symbol, not a logo.
$FIAT currencies such as ₹, $, € have borders.
But $BTC is borderless.
Unlike $FIAT, you can invest in $BTC
Spend online/offline
#100DaysOfCrypto #Tweeseries
Bitcoin is beyond money, not a blockchain.
BTC is its symbol, not a logo.
$FIAT currencies such as ₹, $, € have borders.
But $BTC is borderless.
Unlike $FIAT, you can invest in $BTC
Spend online/offline
#100DaysOfCrypto #Tweeseries
Day 4: What are #Tokens?
Unlike #cryptocoin, tokens are issued by the other platforms. These platforms can be org. Or individuals.
Technically coins & tokens are different, but they function in the same way.
Eg. Coin: $BTC, Token: $USDT
#100DaysOfCrypto #Tweeseries
Unlike #cryptocoin, tokens are issued by the other platforms. These platforms can be org. Or individuals.
Technically coins & tokens are different, but they function in the same way.
Eg. Coin: $BTC, Token: $USDT
#100DaysOfCrypto #Tweeseries
Day 5: Price of cryptos
Initially, cryptos are issued at 0 value.
They're sold in private & public sales at an ask set to raise funds for the product.
If product does well, and so does the token, this creates high demand & price goes ↑ else ↓
#100DaysOfCrypto #Tweeseries
Initially, cryptos are issued at 0 value.
They're sold in private & public sales at an ask set to raise funds for the product.
If product does well, and so does the token, this creates high demand & price goes ↑ else ↓
#100DaysOfCrypto #Tweeseries
Day 6: Crypto Wallets?
Used PayTM wallet?
Crypto Wallets are also the same. No difference!
They are basically a medium to transfer money between parties. That's it.
A unique address is used like PayTM uses a mobile number or UPI to send money.
#100DaysOfCrypto #Tweeseries
Used PayTM wallet?
Crypto Wallets are also the same. No difference!
They are basically a medium to transfer money between parties. That's it.
A unique address is used like PayTM uses a mobile number or UPI to send money.
#100DaysOfCrypto #Tweeseries
Day 7: Network Fee?
Banks charge a transfer fee depending upon the transaction size for NEFT/RTGS.
Similarly, in crypto also, the network charges a fee which you can call network fees.
The amount of fees varies acc. to the size of a transaction.
#100DaysOfCrypto #Tweeseries
Banks charge a transfer fee depending upon the transaction size for NEFT/RTGS.
Similarly, in crypto also, the network charges a fee which you can call network fees.
The amount of fees varies acc. to the size of a transaction.
#100DaysOfCrypto #Tweeseries
Day 8: Private Keys?
Consider private keys your pwd to crypto wallet
You use a pwd for "Netbanking Account"
Similarly, you need "Private Keys" to unlock or transfer #crypto between parties.
Not your keys, not your crypto.
Don't share your keys.
#100DaysOfCrypto #Tweeseries
Consider private keys your pwd to crypto wallet
You use a pwd for "Netbanking Account"
Similarly, you need "Private Keys" to unlock or transfer #crypto between parties.
Not your keys, not your crypto.
Don't share your keys.
#100DaysOfCrypto #Tweeseries
Day 9: Which wallet'd you use?
You don't feel safe depositing money in a bank that controls the account. Most banks are custodial
Should you keep crypto at the address (a/c) owned by a platform? No right
Cryptos are safe with non-custodial wallet
#100DaysOfCrypto #Tweeseries
You don't feel safe depositing money in a bank that controls the account. Most banks are custodial
Should you keep crypto at the address (a/c) owned by a platform? No right
Cryptos are safe with non-custodial wallet
#100DaysOfCrypto #Tweeseries
Day 10: To start using cryptocurrency, you do not need to have a degree or certification. Not everyone is a builder or developer.
You, with basic education and awareness, as needed to use the banking system, can use the crypto & its products.
#100DaysOfCrypto #Tweeseries
You, with basic education and awareness, as needed to use the banking system, can use the crypto & its products.
#100DaysOfCrypto #Tweeseries
Day 11: Recap (Tweets 1 - 10)
You've learned the basics of blockchain, cryptocurrency, crypto wallets, private keys, and their analogy with the traditional banking system.
Let's learn about different usage of cryptocurrency in the next 10 Tweets.
#100DaysOfCrypto #Tweeseries
You've learned the basics of blockchain, cryptocurrency, crypto wallets, private keys, and their analogy with the traditional banking system.
Let's learn about different usage of cryptocurrency in the next 10 Tweets.
#100DaysOfCrypto #Tweeseries
Day 12: Crypto as an asset - Part 1
You can invest money in crypto assets like $BTC, $ETH, $MATIC as you do in Gold, RealEstate for #ROI
For crypto, platforms are different, but the process of investment is the same as for gold-like assets.
#100DaysOfCrypto #Tweeseries
You can invest money in crypto assets like $BTC, $ETH, $MATIC as you do in Gold, RealEstate for #ROI
For crypto, platforms are different, but the process of investment is the same as for gold-like assets.
#100DaysOfCrypto #Tweeseries
Day 13: Crypto as an asset - Part 2
#CryptoFD is similar to #BankFDs where you deposit & lock an amount for a time period to earn interest.
The rate of interest is comparatively high in CryptoFD You can deposit one time or do SIP (a.k.a #CIP)
#100DaysOfCrypto #Tweeseries
#CryptoFD is similar to #BankFDs where you deposit & lock an amount for a time period to earn interest.
The rate of interest is comparatively high in CryptoFD You can deposit one time or do SIP (a.k.a #CIP)
#100DaysOfCrypto #Tweeseries
Day 14: Crypto as an asset - Part 3
Buy cryptos for INR or USD it's similar to buying shares in the stock market.
That's your stepping into crypto. You may call it #OnRamp This is one way of earning money in crypto.
[Check Thread]
#100DaysOfCrypto #Tweeseries
Buy cryptos for INR or USD it's similar to buying shares in the stock market.
That's your stepping into crypto. You may call it #OnRamp This is one way of earning money in crypto.
[Check Thread]
#100DaysOfCrypto #Tweeseries
Day 15: Crypto as an asset - Part 4
Trading in crypto is similar to stock.
You can either "buy or sell" at a market price or "bid or ask" to stop the loss.
In the stop loss, when the price matches then trade is settled, called the trade price.
#100DaysOfCrypto #Tweeseries
Trading in crypto is similar to stock.
You can either "buy or sell" at a market price or "bid or ask" to stop the loss.
In the stop loss, when the price matches then trade is settled, called the trade price.
#100DaysOfCrypto #Tweeseries
Day 16: Crypto as an Asset - Part 5
If you're an Indian resident, then you will have to pay 30% tax on your income.
Stocks are also taxed but at a lower rate
Income = sale price - cost of an asset
Unlike stocks, you can't set off losses in crypto.
#100DaysOfCrypto #Tweeseries
If you're an Indian resident, then you will have to pay 30% tax on your income.
Stocks are also taxed but at a lower rate
Income = sale price - cost of an asset
Unlike stocks, you can't set off losses in crypto.
#100DaysOfCrypto #Tweeseries
Day 17: Crypto Payments
Besides trading, you can accept payments in cryptocurrencies if you're a business, or you can make payments if you're a consumer.
You can buy gifts, groceries, cars, electronic devices, tickets, consumables, accessories and what not.
#100DaysOfCrypto
Besides trading, you can accept payments in cryptocurrencies if you're a business, or you can make payments if you're a consumer.
You can buy gifts, groceries, cars, electronic devices, tickets, consumables, accessories and what not.
#100DaysOfCrypto
Day 18: Accepting Payment in cryptocurrency is better than getting paid in fiat currency, specially when you’re dealing with foreign client.
Instant
Lower transaction fees
No chargebacks
No fraudulent
Traceable
Auto convertible with platforms like @bitbatua
#100DaysOfCrypto
Instant
Lower transaction fees
No chargebacks
No fraudulent
Traceable
Auto convertible with platforms like @bitbatua
#100DaysOfCrypto
Day 19: If you're receiving payments in cryptocurrency and plan to hold #crypto just to avoid tax liabilities, then let me tell you, my friend, you will end up paying taxes with a penalty whenever you will use cryptos or convert them to INR.
#100DaysOfCrypto
#100DaysOfCrypto
Day 20: Crypto Cards are like regular credit or debit cards which help you make payments in cryptocurrency directly with a card.
Usually, these cards are issued by a crypto exchange or bank and convert your crypto in custody to fiat for the merchant.
#100DaysOfCrypto
Usually, these cards are issued by a crypto exchange or bank and convert your crypto in custody to fiat for the merchant.
#100DaysOfCrypto
Day 21: Receiving payments in cryptocurrency is one of the popular ways to acquire crypto that you can accumulate in the expectation of returns.
However, there is a risk of volatility unless it is a stablecoin or you convert it to fiat. Make your choice wisely.
#100DaysOfCrypto
However, there is a risk of volatility unless it is a stablecoin or you convert it to fiat. Make your choice wisely.
#100DaysOfCrypto
Day 22: #DApps are such applications where you don't need to signup in a traditional way. Instead, you need apps like metamask to sign in with a unique wallet address. Your address is identity. Most of the activities you do on #DApps are recorded in #Blockchain
#100DaysOfCrypto
#100DaysOfCrypto
Day 23: Following things to know the #DApps are secured.
✅ Do they have a security audit report from a reputed and certified independent agency? Including a penetration test report
✅ Verify the founder's background
✅ How long has their community been active?
#100DaysOfCrypto
✅ Do they have a security audit report from a reputed and certified independent agency? Including a penetration test report
✅ Verify the founder's background
✅ How long has their community been active?
#100DaysOfCrypto
Day 24: Can you exchange a note of Rs 100 with another Rs 100? Yes. Both are identical and have the same value. But let's assume you have written a secret on one note, will you still be fine with the exchange? Probably you may not since they aren't identical now.
#100DaysOfCrypto
#100DaysOfCrypto
Day 25: Digital ownership of anything that is unique is called NFT. Rest everything else is a jargon and hype around NFTs.
Art, music, video, IPs, achievements, certificates, identities, writings, books, etc. are the things can be NFT.
#100DaysOfCrypto
Art, music, video, IPs, achievements, certificates, identities, writings, books, etc. are the things can be NFT.
#100DaysOfCrypto
Day 26: Digital Ownership means a record of your data stored in a public blockchain with a timestamp. Data can be anything digital (or a photo of a physical object)
In a blockchain, you will own something. A timestamp will always remain the proof of ownership.
#100DaysOfCrypto
In a blockchain, you will own something. A timestamp will always remain the proof of ownership.
#100DaysOfCrypto
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