Crypto Beginners Guide

Cipher SMC — https://linktr.ee/CipherSMC

What exchange should I use?

Different exchanges have different use cases: some offer wider ranges of token options, futures trading, ease of use, staking and passive earning rewards. Here are various exchanges that may suit your needs, I would recommend researching the fee's/pros/cons of each before picking to find what exchange suits you best.

Listed below are some of Centralized Exchanges (CEX):

— ByBit: https://partner.bybit.com/b/ciphersmc

— Binance: https://accounts.binance.com/en/register-person?ref=ciphersmc

— Gate.io: https://www.gate.io/ref/VFZEBlFe?ref_type=102

— CoinEx: https://www.coinex.com/register?refer_code=fzkg3

— KuCoin: https://www.kucoin.com/r/rf/rJ3TLJQ

— OKX: https://okx.com/join/11504956

— MEXC: https://www.mexc.com/register?inviteCode=1geQV

— BitGet: https://share.bitget.com/u/P2EQ5A8W

What is Two-Factor Authentication (2FA)?

A security method that requires two separate, distinct forms of identification in order to access something. The first factor is usually a password and the second factor can be a code sent to your phone, a biometric scan, or a hardware token. 2FA helps prevent hackers from accessing your account or data, even if they know your password. 2FA is also known as multi-factor authentication (MFA) or two-step verification.

Listed below are some of Two-Factor Authentication (2FA)

Hardware Token (2FA) / Passkeys (Recommend):

— YubiKey Biometric Authentication: https://www.yubico.com/products/yubikey-bio-series/

What is Anti-phishing code?

Anti-phishing code is code of your choice and security feature provided by exchanges, allowing users to add an extra layer of security to their account to prevent phishing attacks caused by forgeries. This feature is mainly to prevent phishing emails - known only by you and Exchange - that when enabled, helps you recognize genuine emails sent to you by Exchange from the deceptive ones.

When users activate the anti-phishing code, the system will use this code in all authentic emails sent by the exchange. This way, users will be able to distinguish between real and fake emails, preventing phishing attacks. — Read More

What are some good guides or resources I can use to learn new things within cryptocurrencies and blockchain technology?

— ByBit: https://learn.bybit.com (Give you the power to level up your crypto knowledge & trade like a pro. From beginner to advanced crypto trading guides and courses)

— Coinbase Learn: https://www.coinbase.com/learn (Covers a wide range of basic topics including how blockchains work, and what different types of wallets there are)

— Binance Academy: https://academy.binance.com (Covers a wide range of topics at different difficulties, for example, showing how to create a wallet, to explaining specific technical analysis methods like the Wyckoff)

— Messari: https://messari.io/research (Includes more in-depth guides and research into specific topics and tokens, although a large section of the site is paid for, a lot of the research is able to be read for free. As an example: https://messari.io/pdf/messari-report-crypto-theses-for-2022.pdf

— Decrypt Learn: https://decrypt.co/learn (Including beginners guides into NFTs, specific tokens and regularly issues new news articles)

— Crypto.com University: https://crypto.com/university (Including a wide-range of articles covering blockchain development and NFT talk)

— WhiteBoard Crypto: https://www.youtube.com/@WhiteboardCrypto (In-depth research into specific projects and great beginner videos)

— CoinBureau: https://www.youtube.com/c/CoinBureau (Covers a wide range of projects and DEFI tokens)

— Consensys: https://consensys.net/knowledge-base (Indepth into Blockchain Technologies in both written and video format)

— Reddit: https://www.reddit.com/r/CryptoCurrency (r/CryptoCurrency Podcasts (held weekly on MONDAYS @ 11PM UTC) - Including QA Sessions & Covering a wide range of topics and current news)

How evaluating a crypto project?

One of the crucial factors to consider is the team behind it. Here are some tips to help you assess a crypto project's team and experience:

1. Look at the Team's Background and Credentials:

- Check their LinkedIn profiles, personal websites, blogs, and social media accounts.

- Verify their expertise, skills, achievements, and reputation.

- Ensure team members' authenticity and transparency.

2. Evaluate the Team's Track Record and Reputation:

- Assess the roles and responsibilities of key team members.

- Look for experienced leaders in crucial positions.

- Consider diversity of skills and backgrounds.

- Evaluate professionalism, integrity, and accountability.

3. Examine the Team's Vision and Strategy:

- Understand their alignment with the project's goals.

- Assess their communication with the community and stakeholders.

Remember, a strong team can significantly impact a crypto project's success. 🚀🔍💡

— Learn more: https://telegra.ph/Evaluating-the-team-behind-a-crypto-project-What-to-look-for-02-13

What is Decentralized Exchange (peer-to-peer transactions/DEX)?

A decentralized exchange (or DEX) is a platform that allows users to trade cryptocurrencies directly with each other, without relying on a third-party intermediary. DEXs use smart contracts and liquidity pools to facilitate transactions, and they are usually built on blockchain networks like Ethereum, Solana, BSC, and others. DEXs offer some advantages over centralized exchanges (or CEXs), such as more privacy, security, variety, and control over your funds. However, DEXs also have some drawbacks, such as lower liquidity, higher fees, slower speeds, and less user-friendliness.

— Uniswap: https://uniswap.org (Ethereum, Polygon, Optimism, Arbitrum)

— SushiSwap: https://sushi.com (Ethereum, Polygon, Harmony, Fantom, Gnosis, Moonriver, BSC, Kucoin Chain, OCC, Avalanche)

— Pancakeswap: https://pancakeswap.finance (BSC)

— TraderJoe: https://traderjoexyz.com (Avalanche)

— Osmosis: https://osmosis.zone (Cosmos IBC Luna)

— Junoswap: https://junoswap.com (Cosmos IBC Juno)

— Dodo: https://dodoex.io (Ethereum, BSC, Polygon, Heco, OKC, Moonriver)

— Matcha: https://matcha.xyz (Ethereum, BNB, Matic, WBTC)

— SpookySwap: https://spookyswap.finance (Fantom/BSC)

— Orca: https://www.orca.so (Solana)

— StellaSwap: https://stellaswap.com (GLMR/Polkadot/eth)

— QuickSwap: https://quickswap.exchange (polygon/eth)

— Yuzu Swap: https://yuzu-swap.com (Oasis) (Audited by Verilog and Peckshield)

Lending Protocols:

— Aave: https://aave.com (Ethereum/Polygon/Avalanche)

— Compound: https://compound.finance (Ethereum)

What is Wallets?

A wallet is a device or software that allows you to store, send, and receive cryptocurrencies, such as Bitcoin, Ethereum, or Dogecoin. A wallet has a public key, which is like your address, and a private key, which is like your password. You need both keys to access your funds and make transactions. There are different types of wallets, such as hardware, software, paper, or web wallets, each with its own advantages and disadvantages.

Hardware Wallets/Devices: It's recommended that you buy these directly from the manufacturer, and if it appears opened or tampered in anyway, do not use it! Please note that specific blockchains have hot wallets catered towards them, please do research and find out which best suits your needs. The wallets listed here are only a faction of what's available in the space. For people that are most security focused, please look into hardware wallets.

Hardware Wallets:

— Keystone 3 Pro: https://shop.keyst.one/products/keystone-3-pro

— Ellipal Titan 2.0: https://www.ellipal.com/products/ellipal-titan

— Trezor Safe 3: https://trezor.io/trezor-safe-3

— Tangem: https://tangem.com

— Ledger Nano X: https://shop.ledger.com/pages/ledger-nano-x

— Ledger Nano S: https://shop.ledger.com/products/ledger-nano-s

Hot Wallets: that's i use everyday is Zerion

— Zerion (EVM Compatible): https://link.zerion.io/referral?code=H0YRU4OJ5

— MetaMask (EVM Compatible): https://metamask.io

— Exodus: https://www.exodus.com

— Coinbase Wallet: https://www.coinbase.com/wallet

— Trust Wallet: https://trustwallet.com

— Keplr (IBC/COSMOS): https://www.keplr.app

— Phantom (Solana): https://phantom.app

— Brave.com Wallet: https://brave.com/wallet

— Polkadot.js (polkadot/XCM): https://polkadot.js.org

— Rabby: https://rabby.io

What is Staking and how can I do it?

Staking is a available on proof of stake blockchains (some examples are: Cosmos, Polkadot, Avalanche, Cardano, Ethereum) that is used to help secure a network by delegating your tokens to help confirm transactions through a validator, usually for set periods of time or locked until you decide you no longer want to stake them. Staking carries low-risks as if a validator breaches given rules on a network, your funds could be locked, but generally speaking, the larger the validator is, the safer it is to stake with them, but staking with smaller validators will help with decentralization.

Staking can be done in a number of ways but most commonly done through exchanges (like ByBit or Binance) or in wallets (like Ledger or Exodus). Staking will have different conditions depending on the chain, for example, when staking Atom on Keplr, the funds will take 21 days before they are liquid again. It is generally more beneficial to stake outside of an exchange as you are likely to get a higher APY rate, as well as other benefits. Its always best to research the chains you're invested in to understand ways to maximize rewards.

Staking can provide the following benefits:

— Passive earnings on specific cryptocurrencies (APY%) - Great if you're not planning to sell short-term

— Support the network by helping to secure transactions made

— Potential for bonus rewards. (some ecosystems might offer air drops or other coins for staking or providing LP, please research the protocol your vested into to find out more about the potential rewards)

Use this this site to find out what assets can be staked, and what potential earnings you could make on your holdings: https://www.stakingrewards.com (note not all assets are on this list, and it's not recommended to buy a coin just because you can stake it, there could be potential for impairment loss or aggressive vesting schedules that could lower potential ROI.