Everfi Crypto Foundations and the World of Digital Assets

Everfi Crypto Foundations and the World of Digital Assets is a course that delves into the basics of digital assets.

Digital assets, such as cryptocurrencies and non-fungible tokens, are unique digital items that can be bought, sold, and traded.

These assets exist only in electronic form and can be transferred electronically.

In the world of digital assets, ownership is typically represented by a private key or a unique identifier.

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Crypto is a digital or virtual currency that uses cryptography for security and is decentralized, meaning it's not controlled by any government or financial institution.

Crypto Foundations is a digital program that teaches high school students about cryptocurrency, including how it's created on the blockchain and the risks and benefits of holding cryptocurrencies as an investment.

Crypto can be used to buy goods and services online, but it's also used as an investment, with many people hoping to make a profit by buying and selling it.

The Crypto Foundations program is designed to educate students about the potential risks and benefits of cryptocurrency, helping them make informed decisions about their financial futures.

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Digital assets come in many forms, but they're all minted and exchanged on a blockchain. We can group them into five categories.

One of these categories is stablecoins, which are a type of cryptocurrency that's designed for price stability. They're linked to fiat currencies, commodities, or other crypto assets.

Digital assets can also be thought of as tokens, which are the building blocks of the digital world. They can be used in games, apps, and finance functions exclusive to cryptocurrency.

These tokens reside on a blockchain, which is the underlying architecture that makes digital assets possible. It's like a digital ledger that records all transactions.

Stablecoins are a type of digital asset that's specifically designed for price stability, making them a great option for people who want to avoid the volatility of traditional cryptocurrencies.

Digital assets are stored on the blockchain ledger where they were issued, with a public and private key associated with each entry. Your private key is like a password that proves your ownership of the digital asset.

Wallets help store your keys securely, giving you a convenient place to view your assets and ledger positions. This is an important distinction: the digital asset is stored on the blockchain ledger, and the keys that give you access to it are stored in a wallet.

To trade digital assets, you can use standard exchanges, which have the capability to trade digital assets for stocks, commodities, and other financial instruments. Users can trade digital assets much like in traditional FX or stock markets.

Related reading: How Do I Trade Cryptocurrencies

Digital assets are stored on the blockchain ledger where they were issued, with a public and private key associated with each entry.

Your ledger entry is like a computer-generated email address and password, but instead, it's a secure way to record and verify ownership of digital assets.

A wallet helps store your private key securely, giving you a convenient place to view your assets and ledger positions.

The private key, or password, is what you'll use to prove your ownership of the digital asset if you want to do something with it, like sending cryptocurrency to another person.

If you want to send cryptocurrency, you'll need your private key signed to the transaction in order for it to be accepted as a new blockchain entry.

Exchanges are a crucial part of the digital asset ecosystem, allowing users to trade digital assets in a similar way to traditional FX or stock markets.

Users can trade digital assets to enact speculative investments or to acquire the currency necessary to play a new game or use a new dApp.

Standard exchanges have the capability to trade digital assets for stocks, commodities, and other financial instruments.

Decentralized finance, or DeFi, is an exciting space that's opening up new possibilities for financial transactions. DeFi is an umbrella term for various financial applications provided through digital assets.

Digital assets live on the blockchain, allowing us to access and manipulate them via code in smart contracts. This enables infinite possibilities to automate complex transactions.

Financial opportunities are being built into the options on purchase of a digital asset, such as getting a loan or insurance. These financial instruments can be automatically agreed to by a provider via the blockchain.

The blockchain foundation of DeFi allows for direct access to user assets, giving apps more control over user identity and access. This is a distinct advantage over traditional mobile and desktop apps.

Automating complex transactions and financial activity via smart contracts is a game-changer for DeFi. It's an area that's still developing, but it's already showing great promise.

Digital assets are changing the game, taking your vision from plan to reality.

Cryptocurrency, like Everfi Crypto Foundations, is a type of digital asset.

Digital assets are becoming increasingly popular, with more and more people investing in and using them.

Investing in digital assets can be a great way to diversify your portfolio and potentially earn higher returns.

Digital assets are not just limited to cryptocurrency, they also include other types of digital property, such as art and collectibles.

These digital assets can be bought, sold, and traded just like traditional assets, but with the added convenience of being digital.