This post collects key information on understanding the blockchain, protocols, Defi, NFTs, DAOs, and other blockchain-native terms. It may be difficult, but you will get there.
There are 10 steps in this journey:
- Commit to usage – wallets
- Read broadly
- Learn blockchain concepts
- Dig into NFTs and DeFi
- Get your daily dose of information
- Understand company and project types
- Study risks
- Try learning about DAOs
- Don’t be afraid to ask for help
Obtain a wallet. Make a Metamask wallet. Also create other wallets (such as Celo, Algorand, and Terra) to see how their onboarding experience differs. Purchase some cryptocurrency. Wire transfers are typically difficult.
Use the built-in services that allow you to buy cryptocurrency using your credit card for immediate use but are costly on an ongoing basis, so make sure to use them for starting out.
Make a wallet for testing and keep only a little value in it. Keep in mind that your transactions are public, which means you’ll be found out if you use this account. So make an account for learning and keep in mind that everything you do is recorded.
The second area to examine is use cases. Only a few issues are covered in the news and on Twitter, so you’re missing out on many use cases. Look for a thorough exploration of reviews and articles.
There are plenty of blogs and podcasts that go over blockchain and cryptocurrency in more detail. For now, it’s all you need.
Taking a good course and developing your fundamental understanding is the fastest method to gain a high-level understanding of the fundamentals. Blockchain courses are available at top universities and online learning companies.
We’ve learned that it’s essential to be broad and deep, and not get caught up in rabbit holes. This was something we discovered after going down a few rabbit holes ourselves.