What is Bitcoin?

What is bitcoin commonly used for?

● Common used for illegal activity but it is the same with our Fiat currency (Php)

● Can be use to send money to anyone from across the globe without a middleman (e.g

banks)

● Lesser fees in sending compare to a bank or any intermediary institution

● Store Value (2009 ($0) 2020 ($9000))

● Non-confiscatable

● Always there on open source and easy to access

What makes Bitcoin valuable?

● Bitcoin is deflationary currency

● 21, 000, 000 max supply (fix supply)

● Transactions without censorship

How does bitcoin work?

1. Open source software (code) Satoshi Nakamoto and anyone can access it around the

world.

2. Miners. Bitcoin is a network. There are computers designed to solve the algorithm that

bitcoin has. Bitcoin miners are important because they validate transactions.

3. Nodes. Computer that run the rules. Run as validator. Reason why bitcoin is

decentralized.

4. Blockchain - since 2009. Recording of transactions. It is essentially a new way of

accounting. Open source and everyone will see the transaction. Privacy is not there

anymore.
How to buy Bitcoin (Coinbase)

1. Create a Coinbase account

2. Add a payment method

3. Start a trade

4. Select Bitcoin from the list of assets

5. Enter the amount you want to buy

6. Finalize your purchase

Add payment method on Coinbase

Tap on the payment method box and connect a payment method. You can use
a bank account, debit card or initiate a wire.
How to buy Bitcoin (Binance)
Before getting started, please make sure you have completed the identity
verification.

1. Log in to your Binance account and click [Buy Now] on the homepage
banner.

2. You can choose to buy crypto with different fiat currencies. Enter the fiat
amount you want to spend and the system will automatically display the
amount of crypto you can get.

3. You can choose your preferred payment method here.

4. Please check the payment details and fees and confirm your order within 1
minute, or the amount of crypto you can get would be recalculated based on
the current market price. You can click [Refresh] to see the new order amount.
Add payment method on Binance

● Go to your account dashboard, and click on “Payment” tab

● Click on “+ Add a Payment Method”
● Enter your payment information
● Click “Confirm”
How to Store Bitcoin
What is a crypto wallet?

● You have your own little banks on your pocket or your computer.

● Seed Phrase - 12 to 24 word phrase that give access to your private key

● If you lose your private key, you will lose your money for good. (Bitcoin is

opensource)
Desktop wallet – private keys

● also known as a software wallet

● a type of cryptocurrency wallet where users' private keys are stored on a PC or laptop
hard drive
● https://academy.moralis.io/lessons/desktop-wallet-private-keys
Mobile wallet – send and receive

● mobile-based applications that store private keys

● enables its user to send and receive virtual currencies
● https://academy.moralis.io/lessons/mobile-wallet-send-and-receive
Hardware wallet

● a form of offline storage

● a cryptocurrency wallet that stores the user's private keys in a secure hardware device
● Most secure way of storing your coins
Exchanges

● Simple and easy way to access your funds

● Not the most secure way to store your coins and crypto
● Anyone that has your username and password will have access to the coins that are in the
wallet.
● Sometimes you are getting scammed without you knowing it
Paper wallet

● a printed piece of paper containing keys and QR codes used to facilitate your
cryptocurrency transactions
● Not the safest option
How to trade Bitcoin?
How to trade Bitcoin?
How to trade Bitcoin?
How to trade Bitcoin?
How to trade Bitcoin?
How to trade
Bitcoin?
What are Altcoins
Altcoins

● an alternative digital currency to Bitcoin

● refers to a group of cryptocurrencies, ultimately all the cryptocurrencies other than
Bitcoin
Proof of Work vs. Proof of Stake

● With proof-of-stake (POS), cryptocurrency owners validate block transactions based on

the number of coins a validator stakes.
● Proof-of-stake (POS) was created as an alternative to Proof-of-work (POW), the original
consensus mechanism used to validate a blockchain and add new blocks.
● While PoW mechanisms require miners to solve cryptographic puzzles, PoS mechanisms
require validators to simply hold and stake tokens.
● Proof-of-stake (POS) is seen as less risky in terms of the potential for an attack on the
network, as it structures compensation in a way that makes an attack less advantageous.
● The next block writer on the blockchain is selected at random, with higher odds being
assigned to nodes with larger stake positions.
Smart Contract

● a self-executing contract with the terms of the agreement between buyer and seller being
directly written into lines of code.
● The code and the agreements contained therein exist across a distributed, decentralized
blockchain network.
● The code controls the execution, and transactions are trackable and irreversible.
● Smart contracts permit trusted transactions and agreements to be carried out among
disparate, anonymous parties without the need for a central authority, legal system, or
external enforcement mechanism.
Different types of
Altcoins
Payment Token - are designed to be used as currency—to exchange value between parties

Stablecoins - aim to reduce this overall volatility by pegging their value to a basket of goods, such
as fiat currencies, precious metals, or other cryptocurrencies

Security Tokens - are tokenized assets offered on stock markets ; are regulated by the Securities
and Exchange Commission because they are designed to act as securities

Utility Tokens- are used to provide services within a network ; can be purchased on exchanges
and held, but they are meant to be used in the blockchain network to keep it functioning

Meme Coins - are inspired by a joke or a silly take on other well-known cryptocurrencies ; They
typically gain popularity in a short period of time, often hyped online by prominent influencers
or investors attempting to exploit short-term gains