PART FIVE

Rewards (The Upside)

Big Profit Potential
Some people have made a lot of money by buying cryptocurrencies early and holding on to it.

Prices can go up very fast, especially for popular coins like Bitcoin and Ethereum.

You Control Your Money

Crypto lets you send, receive and store money without a bank or middleman.
You have full control of your wallet — no one can freeze it or tell you what to do.

Innovation & New Tech

Crypto is behind exciting new things like NFTs (explained later), smart contracts, and decentralized apps (like crypto games or finance tools).

It’s a fast-moving space full of new ideas.

Global Access

Anyone with internet connection can use crypto — even in places with limited access to banks.

Risks (The Downside)

Price Swings

Crypto is sometimes very volatile — prices can jump or crash in a single day.

You could lose a lot of money quickly if you're not careful.

Scams and Hacks

Because crypto isn’t heavily regulated, there are more scams, fake coins and shady projects.

If you lose your password or fall victim to a hacking incident, there’s typically no way to recover your money!.

Cryptocurrencies and decentralized finance operate on a different system from banking where ownership and security are entirely in the hands of the user. So important to remember.

Do not forget your password or the seed phrase you write down when opening your account. Store multiple copies of these in safe places like a bank safety box, your own home safe or your lawyer’s safe. Use your imagination, we are all different.

In essence, the responsibility for maintaining security rests solely with the user, highlighting the importance of safeguarding access credentials with robust security measures and practices.

Here are a few suggested security measures when opening and maintaining your account:

Use strong passwords

Enable two-factor authentication (described later)

Regularly update your software

Use a Password Manager for complicated passwords hard to remember

Secure your devices with anti virus software

Limit sharing personal information

Use hardware wallets for storing crypto

Regulatory Uncertainty

Governments around the world are still figuring out how to handle crypto.

Laws and taxes can change — and that might affect your investments.

Try to keep abreast of the news in the digital and crypto world.

Tech Can Be Confusing
It can be hard to understand wallets, private keys, blockchains, etc.

A simple mistake (like sending crypto to the wrong address) can’t be undone.