Crypto Cheatsheet
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Crypto Cheatsheet

Nov 3, 2021

I put this together after several friends asked about where to start learning/using crypto. I hope it's useful!

Getting started

I think the best strategy is to simply own the "blue chips" and avoid most projects and hype. It is an easy way to participate, you're still early , and you'll have an incentive to learn and keep up with the space - while avoiding the many scams and taking on unnecessary risk.

  1. Setup a Coinbase Pro account (free account + lower transaction fees than regular Coinbase)
  2. Buy the "blue chips" - Bitcoin (BTC) and Ethereum (ETH)
    1. Allocate some small percentage of your portfolio that you're prepared to lose.
  3. I would also consider owning Solana (SOL)
    1. Alternative to Ethereum that has gained in popularity recently.

Learn

Podcasts

The Tim Ferriss Show (episode) - high level overview of Bitcoin and blockchain from 2017

Invest Like the Best (episode) - overview of the NFT and DeFi space with Chris Dixon of Andreesen Horowitz

Modern Finance (show) - Kevin Rose's (Digg) show covering crypto projects

Terms

NFT - Non-fungible token

DeFi - Decentralized Finance

DApps - Decentralized Apps

DAO - Decentralized autonomous organization

Projects/Companies

Exchanges

Coinbase Pro - Recommended. Free, but lower fees than regular Coinbase.

Binance - For advanced users. Sometimes has earlier access to tokens.

Uniswap - Best decentralized exchange. High fees. Runs on Ethereum.

Tokens/Blockchains

Solana - a new blockchain for decentralized apps and marketplaces - alternative to Ethereum

Chainlink - connect smart contract to real-world data

Flow - NFT-focused blockchain. Developed by Dapper Labs.

Filecoin - decentralized storage (i.e. decentralized AWS S3)

Stacks - dapps and smart contracts on the Bitcoin blockchain

Wallets

Metamask - browser-based software wallet for Ethereum

  • You'll use a wallet like this to buy NFTs on exchanges like OpenSea.

Ledger - a hardware wallet for "cold storage"

  • I have and use the Nano S.
  • I recommend this once you have a significant amount of money in crypto (whatever "significant" is to you). Otherwise, not really necessary.

NFT Marketplaces

NFT Teams/Art/Projects

Larva Labs - team behind Crypto Punks

Decentralized Finance (DeFi)

Decentralized Apps (DApps)

BitClout - crypto social network

Development

OpenZeppelin - Ethereum development platform

BuildSpace - learn how to code for Web3

Solidity - programming language for Ethereum

Rust - programming language for Solana