Grassroot Crypto Education (Vol.2) - Bitcoin, Altcoins and Stablecoins | 10% Payout to @steemkidss By @chimeroselam
Introduction
I'm happy to be here again with you all on this week's Grassroot Crypto Education in SteemKids Community today. Here is my assignment for the classes held by prof. @fredquantum
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Assignment
1 (i). What's Bitcoin?
Bitcoin is the first and ever crypto currency in the world. It is the mother of all currencies and can be traded and paired with other tradable tokens. Bitcoin is a coin that was the first digital currency to be in existence, and is is the most costly and broadly used coin. Bitcoin was found in 2009 when I was a boy of 4 years young and now I'm learning about it. Such an ample opportunity.
One Bitcoin is currently $37,935.90 or ₦15,759,707.33 per one.
1 (ii). What Are Altcoin
Alternate coins are all other coins which are not Bitcoin they include other small coins which network notes have been affected by The rise and Fall of Bitcoin. This other cryptocurrencies are Ethereum, ETH, Bitcoin cash, BCH, BNB, etc and are also tradable tokens.
Other cryptocurrencies apart from Bitcoin
1 (iii). What are Stable coins
Stablecoins are all altcoins which are not increasing or decreasing in their value. They are digital assets like currencies such as Dollar ($), Gold, etc that remain at a constant price over a long period of time without rising or falling.
Some examples of stable coins are USD, USDT, DAI, etc
2. Do you prefer Stablecoins to other cryptocurrencies or otherwise?
I prefer other cryptocurrencies (altcoins) than stable coins. In the illustration, I choose to be like Joe who stored his 1 Bitcoin in an increasing wallet than Jane in the stable wallet. Joe earned more of what he had invested whole Jane hot exactly what she stored in the stable wallet.
This illustration plainly shows the difference between other cryptocurrencies (altcoins) to stable coins. I can make more from storing in an increasing wallet just like Joe did than keeping the 1 Bitcoin stable. Joe stored Bitcoin of worth 35,485 USD and earned 65,700 USD at the end of the day, while Jane who stored 35,485 USD got the same amount. Whate a huge advantage.
Conclusion
I have learnt quantitative lessons from this week's classes. Thank you prof @fredquantum for teaching us well. Now I know which wallet to prefer when it comes to storing of digital assets.
Mention
@steemkidss
@ngoenyi
@fredquantum
@ijelady
@benton3
@madilyn02
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Introductory Post
All images are from @chimeroselam. Edited on Pixellab.
You deed noble by taking part in this grassroot crypto education.
Your choice of Joe over Jane in the illustration is a wise one and that is because the market went in favor of Joe. What if the reverse is the case? Will you still make the same choice? @chemeroselam
You have made a well detailed explanation of bitcoins, stable coins and Altcoins. I also prefer Altcoins than stable coins because of its potentials. I have enjoyed reading through. The professor will give his ratings soon. Best wishes to you
This life is filled with ups and downs. It's either we lose or win or we lose to win.
Thank you very much The kind way you addressed me.
I'm excited that you too choose altcoins than stable coins
Learning crypto from the grass root is the best, keep being an active member of steemkids as you have a lot to learn from the professors, thank you @steemkidss for educating our kids through professor @fredquantum
Thank you very much ma
The early knowledge is very important
You wrote really well, congratulations on the gained knowledge. Thank you or participating in vol. 2 grassroot cryptoacademy
What do I know? If not you mentioned me for this class, what would I have done
Thank you very much
Congratulations on this great entry, I am glad to see you participate in these important educational classes. I send you a hug.
I receive it with open arms 😂
🙈🙈
thank you for helping by delegating steem power to the community.
Thank you