Cryptocurrency is digital currency in which transactions and records are maintained by a

decentralized system rather than a centralized authority.

A crypto wallet is a device used to store, send and receive crypto assets and can either be hardware
or software.

There are basically 2 types of crypto wallets, namely cold and hot wallets

*Cold wallet*

*Definition;

Otherwise known as hardware wallet it is a cryptocurrency wallet that stores your crypto assets
completely offline unlike a hot wallet which requires an internet connection. With respect to the
platform though, I would say a cold wallet is a self-custodial or decentralized wallet meaning the
user has full control of their crypto assets and does not need to rely on a third party.

Differences between cold and hot wallets

No KYC or ID verification for cold wallets

Cold wallets are decentralized wallets whereas hot wallets are centralized with third party regulation

*Advantages of a cold wallet;

Greater security as the funds is stored offline with little or no risk of hacking

Faster transactions and instant withdrawals

Complete control over your private keys and all owned crypto assets

No KYC or ID verification means little risk of identity theft

*Disadvantages of a cold wallet;

Vulnerable to external damage, human error and theft

Not efficient for daily transactions

*How it works;

Funding your cold wallet will depend on the payment options available to you. Some will permit you
to purchase crypto assets using your bank card (master/visa). Alternatively, you could use
cryptocurrency ATM's as well as centralized crypto exchanges like Binance.

Converting your crypto assets from your cold wallet to fiat can be done peer to peer that is by
transferring said assets to another person and receiving cash in which case you will have to know
that person as there is no third party to moderate the transaction. Alternatively, you could create an
account with a centralized crypto exchange, transfer the assets from your cold wallet to said account
and then convert to fiat.

*Business skills*

The ability to carry out a business task effectively within a given time frame.

Communication - Be able to present your ideas in a precise and concise manner

Leadership - Always be the one to lead the customer by leading the conversation

Analytical Skills - Understand the customer's mindset so you can be able to predict what they'll do or
say and you can always be able to counter

Management - First be able to manage yourself, your time and you will be able to manage the
customer. Set goals for yourself and for your customers

Ethics - This goes to morals, be polite, courteous and empathetic with your customers even when
they are obnoxious.

Customer classification

A. Has a good understanding of the platform model meaning they have used similar platforms before
- Find out if the customer actually made money from those other platforms and how much. The goal
is to show them they stand to make much more compared to what they got from the other
platforms.

B. Isn't familiar with the platform model, meaning they have never used it before but they have
money and friends. First determine the customer's desire to make money and make them
understand that just by inviting their friends they can make even more money.

C. Isn't familiar with the platform model, has no friends but have money. The goal is to make such
customer interested in the platform and if necessary, recharge a small amount to show the customer
how the platform works.

D. Has never used such platforms before, has no money but has friends, find out more about the
customer's relationships and make him understand he can make a profit just by inviting his friends.

E. Has never used such platforms before, doesn't have money and has no friends - ignore such
customers.