Crypto Edu
For The Community
We want our community member to educate themselves as much as possible after being duped too many times during our crypto journey. Despite the fact that the blockchain industry is excellent and decentralize, there are still far too many con artists operating in it. Our community’s goal is to inform and educate our members from becoming victims.
Be a Galactix Zone Member
Become a member, join our discord and telegram. Help make the crypto world what it should be, help other members who are new to crypto, and help them transition from Web 2.0 to realize true decentralize Web 3.0.
Intro Crypto 101
See this article to get started: https://academy.binance.com/en/start-here
Coin vs Token:
https://crypto.com/university/crypto-tokens-vs-coins-difference
Centralized Exchanges (CEX) vs Decentralized Exchanges (DEX)
https://medium.com/arianee/differences-between-centralized-exchanges-cex-and-decentralized-exchanges-dex-517df354dfa8
How to use pancake swap DEX
Getting Started: https://docs.pancakeswap.finance/get-started
How to Connect your Wallet to PancakeSwap: https://docs.pancakeswap.finance/get-started/connection-guide
How to trade: https://docs.pancakeswap.finance/products/pancakeswap-exchange/trade-guide
Buy Tax and Sell Tax
While there are many ‘taxes’ that can be applied to crypto, like when you are purchasing crypto from an exchange or withdrawing your crypto to your native currency, there can also be ‘taxes’ within crypto projects. Some crypto projects will have a Buy Tax and a Sell Tax when purchasing and selling tokens, so it’s important to understand if the project you’re invested in has either of these taxes
Buy Tax
Buy tax is a tax that gets applied to a token upon purchase, this is controllable by the project and the tax can vary. An example is if you purchase a token for a project on an exchange like pancakeswap then you go into that project and purchase one of their assets like an NFT or a Node. That project could have a Buy tax on that NFT or Node that you might have to pay to support the project.
Sell Tax
Sell tax is tax that may get applied to a token when selling it on an exchange, this is controllable by the project and the tax can vary. It can also vary on how it’s executed but a common method is when you sell the token on an exchange that’s when the tax will be applied.
Hot Wallets:
A hot wallet is a cryptocurrency wallet that is always connected to the internet and cryptocurrency network. Hot wallets are used to send and receive cryptocurrency, and they allow you to view how many tokens you have available to use.
Cold (Hardware) Wallets:
A hardware wallet is a cryptocurrency wallet which stores the user’s private keys (critical piece of information used to authorize outgoing transactions on the blockchain network) in a secure hardware device. The main principle behind hardware wallets is to provide full isolation between the private keys and your easy-to-hack computer or smartphone.
Hot Wallets Vs Cold (Hardware) Wallets
https://investorjunkie.com/crypto/hot-wallet-vs-cold-wallet/#:~:text=The%20main%20difference%20between%20a%20hot%20wallet%20vs.,easier%20to%20use%20in%20transactions%20across%20the%20internet
https://en.wikipedia.org/wiki/Cryptocurrency_wallet
