Welcome to Coinmama Academy
It’s important to us that the Coinmama community is informed and educated about crypto. An informed community is a safe community.
You’ll find everything you need to know to get started on your crypto journey here at Coinmama Academy from the very basics to more advanced material and helpful tutorials.
Don’t worry, crypto isn’t as cryptic as you might think, and we’re here to make it as easy as possible for you. Let’s jump right in…
What Is Cryptocurrency?
- Cryptocurrency is just digital money. It is secured by blockchain technology, which allows it to exist outside the control of central entities such as banks or governments.
- Cryptocurrency can be transferred quickly and directly from one person to another (peer-to-peer) without the need for an intermediary.
- Because cryptocurrency is an emerging technology, crypto markets are immature and notorious for their volatility.
- It has been suggested that cryptocurrency and blockchain technology could disrupt - and ultimately replace - the traditional financial system.
How is crypto different from other money?
Permissionless
Public blockchains mean anybody can anonymously join and participate in the network
Secure
Keep your private keys safe and cryptography looks after the rest for you
Censorship Resistant
No authority can prevent or interfere with blockchain transactions
Benefits of crypto
Transaction Speed
Bank transfers can take anywhere from a few hours to several days. Cryptocurrency transfers occur within minutes.
DEFLATION
The fixed supply of cryptocurrencies protects against inflation. As coins are lost over time, cryptos actually become rarer, which increases their value.
PRIVACY
Privacy and anonymity are much easier to achieve through cryptocurrencies rather than fiat, particularly with the use of privacy coins such as Monero.
ACCESSIBILITY
Anyone with a computer and internet access can use crypto.
What is Bitcoin?
Bitcoin is the original cryptocurrency and the first iteration of what is now commonly referred to as blockchain technology. Bitcoin is the most popular cryptocurrency and the biggest by market capitalization.
The mysterious Satoshi Nakamoto released a 9-page white paper in 2008, outlining how Bitcoin worked. In 2009, Bitcoin was launched.
Bitcoin’s success has resulted in many copycat cryptocurrencies. So, what’s the difference between them all? That’s a good question and one that would take a long time to answer comprehensively. Essentially, though, cryptocurrencies vary in terms of their capabilities with respect to privacy, security, programmability etc. We suggest taking some time to learn about the different cryptos starting with Bitcoin and Ethereum. If you like what you see, then take it from there! Our Crypto Basics page is a good place to start…
What is Blockchain?
Should I Invest in Crypto?
