🛄 Wallet Address - Explaining what a Crypto Wallet in simple terms

 


Crypto 101

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Wallet is like your bank name

Token is the particular coin (like GBP, EUR, USD )

*Receive Wallet address* is your bank account number to receive money

*Deposit* is like your transfer to your bank account

*Send* is you sending money to a recipient

12 passphrase is like your bank passcode (never give out)

There are over 12,000 crypto token (coin) with BTC (bitcoin) being number 1

Stable coin are coin that don't change in value. They are the same with USD.

USDT and BUSD are stable coin. Having them is equivalent to having us dollars and the rate is usually black market rate

You know how bitcoin goes up and down and most coins do. Stable coins don't

There are also Gold coin which have the same value as real Gold. You can exchange it for Gold bars.

PaxGold is also a good coin. Its stable and has federal reserve backing it cos its real gold on a coin.

When the market is down, always Remember to convert your coins to USDT/BUSD stable coins in a bear market to maintain its value.

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