Crypto Onboarding Guide
A rabbit hole guide, a glossary, and a set of tasks for crypto newbies
Crypto is hard to understand (and kind of crazy)
With the current hype around NFTs - a form of crypto with much larger mainstream appeal - many new people are entering the crypto space.
Last month, there were $1.4 bn NFTs sold, with leading NFTs selling for millions per piece, and major media (e.g. New York Times) took note.
Celebrities and influencers also jumped in: Ashton Kutcher and Mila Kunis financed a new animated series with NFTs and Logan Paul already sold $5M worth of NFTs in February.
For somebody new to crypto who encounters the NFT hype, questions after questions open up. Why are people spending so much money on digital images? How are these images related to the blockchain? What is a token? What is Ethereum?
Crypto is overwhelming at first. You need to keep going down the rabbit hole to eventually get it.
The documents below are designed to get you started and quite some ways towards becoming a crypto native. Once you understand most terms in the glossary, have read some classic blog posts, and actually interacted with blockchains, things will make much more sense.
What does this stand for? Where can I read more?
Some of you probably get the questions above a lot. Those who already went down the crypto rabbit hole and have some idea about what’s going on, find themselves constantly tutoring crypto 101 in DMs. Now you can send them the three documents below.
The Crypto Onboarding Guide
That’s why I put together the following Crypto Onboarding Guide. It consists of three documents (links in the list below):
The glossary lists the most frequent crypto-specific terms and acronyms. It can be used to build a basic understanding by going through linearly or to look up unknown concepts as they are encountered.
The rabbit hole guide collects Master Lists of canonical blog posts, and you can click through recommended lists of lists. You’ll find tons of curated high-quality content in there, ordered by topics.
At last, How to crypto in 4 levels is a step-by-step guide to using blockchains. Starting with Ethereum and basic wallet management to then take people through interacting with DeFi and NFTs, and finally even other blockchains.
Share this guide with people new to crypto. Don’t forget to subscribe if you want to keep learning more about the latest in crypto. We’ll dive deep into Social Tokens next - stay tuned!