New Member Masterclass- First class (p)

What is Bitcoin?

• A new kind of currency that banks are using to drive up interest rates

• a decentralized digital currency created in 2009 by an unknown individual or group using the pseudonym Satoshi Nakamoto. It is a peer-to-peer system

• a digital type of altcoin that can be purchased on exchanges like Coinbase or Gemini

• An alternative currency that banks can use as a way for investors to get interest rates to be more competitive for customers buying CDs and bonds

What is an altcoin?

• Bitcoin that is available in the circulating supply for new customers

• Digital coins that are derived from Bitcoin before they are available for decentralized exchanges

• digital currency on decentralized exchanges only, but not alternatives to centralized exchanges

• any digital currency other than Bitcoin

​ ​ ​ (a)   : Online platforms used to buy and sell cryptocurrencies involving a third party; they may be used to exchange crypto to and from fiat currency​

• Centralized Exchanges (CEXs)
• Decentralized Exchanges (DEXs)
• KYC
• DEFI
• Non-Fungible Tokens (NFTs)
• Mediated Exchanges
• Non-Regulated Exchanges

What is "gas" in the crypto space?

• A fee charged to write a transaction to a public blockchain.

• the fee that miners pay to put crypto on the public blockchain

• the substance vehicles use to power up

• the cost of looking for crypto on the platforms used to analyze the tokenomics of a coin

Match the following acronyms with their full names.

• Decentralized Exchange

• FOMO

• Fear of Missing Out

• KYC

• Fear, Uncertainty, and Doubt

• HODL

• Know Your Customer

• DEX

• Hold On for Dear Life

• FUD

Where do crypto holders store crypto?

• a hot wallet (wallet connected to the internet)

• a cold wallet (a wallet that is not connected to the internet)

• Metamask

• a Ledger wallet

• All of the above

Jamar asked everyone to sign up for Gemini. What's the proper order of tasks to get your account established and funded?

• Sign up for the exchange by supplying your name, email address, and password.

• Enter your address and upload photographic identification.

• Set up your security with your mobile number and two-factor authentication.

• Add a funding source (bank account or debit card) to get trading.

• Use the transfer screen to move funds from your bank account onto the Gemini platform.

What's the purpose of setting up an Gemini account (or Coinbase if that is your preference)?

• Not really sure. Just following directions

• It's on on-ramp and off-ramp to transfer your USD into crypto and back into USD to bank account

• Gemini will be our primary trading platform, so everyone has to establish an account with them.

• Gemini has the most cryptos to select among the CEXs that we use, so it is clearly the best

Does anyone remember the two platforms that are staples in examining the tokenomics of tokens and coins we analyze? If so, select those here.

• CryptoSlate

• CoinGecko

• CoinMarketcap

• Binance.US