All you need to know about cryptocurrencies pt1

 Hello guys, I'll be teaching y'all everything you need to know about Crypto currency.

Before we start, what is Crypto currency?

Cryptocurrency is simply digital money.

The same way you have Naira, Dollar, Euro, (Fiat Currencies),

We also have Bitcoin, Ethereum, Freecoin (Cryptocurrencies).

Crypto coins are built on what we call the *Blockchain*

In simple words, the block chain is a set of codes... to blocks that contain various informations and once stamped, cannot be changed ever again.

When a coin is programmed and launched on the Blockchain, it cannot be changed again. 

The system is almost unhackable.

*Can Crypto Crash?*

Once a Coin is created, it will always exist. 

It can be abandoned by its developer, but it will forever remain.

And the Blockchain can never crash as long as the internet is still Alive. 

*Types of Crypto*

1. Bitcoin

2. Altcoins

3. Tokens/Shitcoins

*Bitcoin* is the leading coin in the Crypto market up till today... It was the very first Cryptocurrency to be created.

*Altcoins* are Alternative Coins to Bitcoin... Any other coin apart from Bitcoin. Example are Ethereum, Cardano...

*Tokens/Shitcoins* these are coins that have little or no value presently. Examples are safemoon, Freecoin, FEG and many more

To own a coin, or to store coins there are two set of codes that are very important to you.

1. Your Seed Phrase/ Mnemonic Phrase

2. Your Address.

Through your Address, people can send coins to you and they can also view all the coins you have in your wallet and how many transactions you have done and when you did them...

But they cannot have access to the coins inside the wallet.

Your seed Phrase on the other hand or your Mnemonic Phrase is what gives you or any other person access to your wallet.

Anyone that has access to your phrase can access your funds from anywhere in the universe and the person can take ownership of the coins and there is nothing that can be done about it.

**TO BE CONTINUED**