Avi Mehenwal

# Introduction

cryptocurrency
non-custodial
not having custody of one's children after a divorce.

# Crypto Wallets

Provides tools you need to communicate with blockchain

Note

Crypto wallets DO NOT actually store any currency, rather only the records of transactions on blockchains. Curremcy is stored all over decentralized blockchain system.

Currency do NOT exist in a physical form

  • Generate all info you need to interact with blockchain and use cryptocurrency
  • How many currencies doesn it support
  • How does it accepts payments? Payment method options
  • Lets you buy/sell cryptocurrency
  • Atomic Wallet
    • Swap 60+ crypto pairs anonymously and receive a cash back for exchange
  • Hot wallet
    • connected to internet
  • Cold Wallet
    • safer as uses physical medium to store keys and are offline
  • Can work on
    • web
    • Mobile devices
    • Desktop App
    • Hardware wallets
    • Paper wallets, with QR code
  • Where are Private Key stored?
    • Usually generated and maintained by wallet provider on cloud
    • ❗️ most crucial part of working with cryptocurrency
    • often multiple pairs of provate and public keys are generated
    • Seed Phrase - back it up - it like the ROOT key to all other keys
  • How are public-private key pair generated?
    • Bitcoin, etherium -> Elliptical Curve Digitial Signature Algorithm

WARNING

Need to be careful in choice, as they come and go quickly.

  • Ledger is maintained - unit of account by account type
  • Bitcoin first release a software in 2009
Coin Burning
Transfering wealth to a cryto address that does not exist. Currency is lost forever (unless that fake address in somehow generated by Key Algorithm)
Arbitrage
In economics and finance, arbitrage is the practice of taking advantage of a price difference between two or more markets: striking a combination of matching deals that capitalize upon the imbalance, the profit being the difference between the market prices at which the unit is traded

# Exchanges

# Crypto Exchanges Service

  • is the marketplace where you trade cryptocurrency from wallets
  • Convert one kind of digital asset to another
  • Trading pairs
    • like between Botcoing and Etherium
# Difference b/w uphold and atomic wallet?

# uphold

  • Uphold is a cloud-based platform
  • enables users to store
  • buy and
  • convert various assets
  • Launched in 2015 with its headquarters in the United States
  • While signing up with Uphold does not cost any fees, transactions like deposit, withdrawal, and conversions attract fees.
# Questions
  1. What are Blockchains?
  2. How do they work?
  3. What problem do they solve?
  4. And how they can be used?

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