Welcome to the first edition of Web3 101: A Quest for Knowledge! If you're reading this, it means you're ready to take the first step on your crypto journey, and we're thrilled to have you on board. ✨
New to web3? Subscribe to Web3 101: A Quest for Knowledge! Take your first steps in web3 and earn rewards for your curiosity! ✨
Here’s what we’re covering in this edition:
Know about popular cryptocurrencies 🪙
The most reliable crypto exchanges 🏦
How to buy your first crypto 💰
Exciting rewards! 🏆
If you stick around until the end of this newsletter and follow our step-by-step guide on buying your first crypto, you'll be rewarded! That's right, a reward for taking the first plunge into the crypto world.
Missed the syllabus for the next three issues? Read our Overview of The Course and come back to dive into the first edition.
So, buckle up, grab a cup of coffee, and get ready to learn about the exciting world of crypto. 🚀
🚨 Note: This is not investment advice. We do not make any recommendations on whether you should buy or sell any cryptocurrency or digital assets. The information contained in this article is for educational purposes only.
Crypto Cool Kids: Top 4 Cryptocurrencies You Need to Know! 👇
Ready to jump the crypto school? Well, before you do, you've got to know who the cool kids are. Here are the top 4 types of cryptocurrencies you need to know about:
Bitcoin: The OG of all crypto. Bitcoin is known for its high value and ability to store wealth. It's the first and most well-known cryptocurrency and is often used to exchange and store value. 😎 That person in high school who everyone knows and respects, even the teachers!
Ethereum: The second largest crypto by market cap. Ethereum is like a high-tech lego set for building decentralized apps. If you're into tech, this one's for you! 👩💻 The tech whiz and science nerd who's always building cool stuff in the lab.
Ripple: The fast and efficient payment facilitator. Ripple is a blockchain-based digital payment network and protocol with its own cryptocurrency, XRP that’s making waves in the financial world. Ripple is used to facilitating cross-border payments between financial institutions. 🤩 The charming classmate who's always making friends.
Stablecoins: Pegged to the value of a fiat currency or other asset. They provide the stability of traditional currency while maintaining other cryptocurrencies’ decentralized and borderless nature. 🤓 The responsible kids who always keep things in order (mostly).
💡 DID YOU KNOW?There is a limit to the number of Bitcoins that can ever exist! 🤯
The protocol for the Bitcoin network was created with a cap of 21 million coins in mind. This means that once all 21 million coins have been mined, cryptocurrency miners will no longer be able to generate new Bitcoins.🙅
Right now, there are around 19.15 million Bitcoins in circulation, which means there are still a few million more waiting to be discovered! No wonder mining is still a hot topic in the crypto world! ⛏
Now, let’s go stationery shopping for the supplies, which is some crypto, to get you started in school. But first, let’s hit up some popular shops! 👇
Centralized Exchanges are owned by one company and regulated by the government. These exchanges keep all their funds in one place, meaning they must follow specific rules and regulations to keep everything in order.
Let's check out some popular centralized exchanges:
Binance: It's a popular exchange that's been around since 2017.
Binance offers a wide range of cryptocurrencies to buy, sell, and trade, and it's easy to use for new and experienced traders.
They have a mobile app so that you can trade on the go!
Binance has a reputation for being secure and protecting its users' assets.
CoinDCX: If you're based in India, CoinDCX is an excellent option.
It offers a user-friendly interface, supports over 50 cryptocurrencies
It has advanced trading tools to help you get the most out of your trades.
And yes, you guessed it, they also have a mobile app!
CoinSwitch Kuber: Another Indian-based exchange that's been making a name for itself.
It offers a wide range of features and a user-friendly interface to help you manage your assets.
With support for over 100 cryptocurrencies and over 450 trading pairs, it's a great choice for those looking for variety.
Coinbase: Last but not least, we have Coinbase, the most popular exchange in the world.
They offer a wide range of tools and services to make trading more accessible for everyone.
You can buy, sell, and trade various cryptocurrencies, and they even offer a custody service to store your crypto.
Check out their Coinbase Earn or Coinbase Prime services to learn more about crypto trading.
A Step-by-Step Guide to Getting Your First Crypto! ✨
Binance, as we mentioned earlier, is a popular centralized cryptocurrency exchange known for its user-friendly interface, low trading fees, and the ability to buy and withdraw crypto using fiat currency.
It has a desktop platform and mobile app, making it easy for new and experienced traders to use. Additionally, Binance is known for being secure and protecting its users' assets, making it a reliable choice for those interested in trading cryptocurrencies.
Follow this guide, buy your first crypto and get rewarded! 👇
Here is a step-by-step guide on how to buy cryptocurrency using Indian Rupee (INR) on the Binance app on a mobile phone. ✨
Download the Binance app from the play store. 📲
Open the Binance app ➡️ Click on Sign Up ➡️ Select your country of residence from the dropdown.
Select a registration method. You can sign up with your email address, phone number, or Apple or Google account. Let's say we use our Google account to log in.
You will receive a six-digit OTP for verification in your email or mobile, whichever you choose to register. Once you've entered the code, click on "Submit.”
If prompted, tap Enable to allow biometric authentication for Binance. 👁
To verify your account, provide the required personal information and bank details and complete the KYC verification process. This may take up to 24 hours, and transactions will only be allowed after successful verification. ✅
Users are logged into Binance Lite by default, which can later be switched to Pro mode when they feel ready to trade like a professional. The Lite version is specifically designed for novice users who are new to crypto trading. In this example, we will be using the Lite version. 😎
On the home screen, you will see the "Buy Now" option.
Enter the amount of your choice. The minimum purchase in Binance is Rs.100.
You can choose between two types of payment: UPI or IMPS.
Your payment order has been created with the seller. Remember to pay the seller within 15 minutes, or the order will be cancelled. ❌
Once the payment is confirmed, you will receive a notification, and the amount will reflect in your account. 💰
Congratulations on successfully purchasing your first cryptocurrency! With Binance Earn, you can now put your crypto to work and start earning passive income. ✨
Once you have determined the appropriate amount of ETH to stake and have thoroughly reviewed and agreed to the terms and conditions, click "Confirm".
You will receive a notification upon successful subscription. ✅
And..Congrats on taking your first step into the world of crypto! 🎉
Task and Reward Time! 🏆
Ready to be rewarded for getting your first crypto? Here’s your first TASK 👇
Crypto Newbies:
Follow our 14-Step simple guide and get your first crypto on Binance.
Take a screenshot of your purchase ➡️ Open This Tweet ➡️ Add your screenshot to it, and don’t forget to keep the hashtag #Web3101Quest.
Don’t have Twitter? Don’t worry! Send us a screenshot of your purchase by replying to this email or contacting us at gm@spacekayak.xyz with the subject “Web3 101 Quest”
Wait for two more issues in February, complete the respective tasks and get an NFT in the first week of March!
😎 Time to show off your first crypto that earns you passive income!
Crypto Conquerors:
If you've already bought your first crypto and want to keep reading our series while winning exciting rewards, share this issue on Twitter and let everyone know you're in it to win it!
And that's all for today, folks! Catch you on Monday for some new stuff to learn, exciting topics to explore, and challenges to help you conquer the crypto world! 👋
