Cryptopedia

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User-created Coin Hunt World Cryptocurrency Encyclopedia - CHW Cryptopedia, created by iSpeakNerd and adapted from his original reddit post here.

All of this information is provided for educational purposes only.

Nothing on the CHW Cryptopedia should be considered financial advice, please always always ALWAYS do your own research and understand things that you are using and investing in. Any opinions expressed represent the opinion of iSpeakNerd.

Contact iSpeakNerd

Research

How blockchain works from Ledger Academy.

Terms and concepts in crypto

  • 2008 BTC whitepaper – THE OG for 99.99% of us who weren’t involved in cypherpunk scene in 2008
    • even with a technical background prepare to look up things like nonce, hash, and SHA256
  • Other redditor reccos

Sometimes the name of the blockchain (Bitcoin, Ethereum) is used interchangeably with the chain's coin ticker symbol $BTC and $ETH.

Encyclopedias

  • Investopedia – markets and investing in general
  • Gemini Cryptopedia – One stop shop for term definitions in the glossary, and topic explanations on coins, security, trading/investing and DeFi

Academies

  • Ledger Academy – nicely sized articles (5 min read) on many ideas, organized into topics
    • Proof of Work (PoW), not your keys not your crypto, basic private key security, Proof of Stake (PoS), blockchain, NFTs, etc.
  • Binance Academy – many disorganized articles: Technical Analysis (TA), consensus, crypto history, security, tutorials, DeFi, etc.
    • PROTIP: treat it as an encyclopedia, use the search, topics, and search filter tools to find what you want

Spotting crypto scams

We, the wiki team, keep the wiki as a source of information about the game and a place with only safe links, but if you venture out into reddit or crypto twitter, you will inevitably encounter people trying to scam you.

No legitimate business/protocol/project/person will EVER ask for your private keys. If someone does, they are trying to scam you.

On sites like reddit,

If it sounds too good to be true….. it probably is.

Some specifics in a great post from u/Wargizmo in a thread here

  • Promoted by celebrities and youtubers
  • dev team is anonymous or have limited credentials
  • purpose of coin is ambiguous or redundant
  • gimmicks like massive coin burns, egregious staking rewards, coins sent to vitalik
  • name is similar to, or a variant of existing coins
  • no white paper
  • spelling mistakes, poorly written, copy pasted text on website

tl;dr the more emojis == the more likely it is a scam

Coins and data

  • CoinMarketCap – the starting place, coin rankings and categories to explore, earn program (no US)
  • CoinGecko – similar to CMC, typically faster coin listings, i don’t use them as much
  • Messari – risk and performance analysis, charts, like a more advanced CMC, on-chain data used as well not just TA
  • CryptoQuant – BTC/ETH + select alts on-chain metrics WARNING: info overload
  • Glassnode – BTC on-chain analysis, visualizations and custom metrics (like an on-chain trading view), derivatives info, etc. WARNING: even more info overload

Youtube Resources

  • Coin Bureau – no shill research and info easily presented, click-bait titles and thumbnails, S-tier research and info
  • Benjamin Cowen – no shill charts and data driven info (no recommendations), focus on longer-term macro trends
  • Finematics – animated infographics answering: what the **** is DeFi?? Rugpull? Liquidity pools? Impermanent loss? Uniswap v3? Liquidity mining and yield farming?
  • Taiki Maeda – yield farming on (mostly) polygon, again, mostly-calm, quality info

Podcasts

… QuadrigaCX, which was believed to be Canada’s largest cryptocurrency exchange. In 2019 the exchange ceased operations and the company was declared bankrupt with C$215.7 million in liabilities and about C$28 million in assets.

Redditor podcast lists

Wallets

Unlike a physical wallet that stores physical items, a cryptocurrency wallet does not store your coins. Your coins never leave the blockchain, in fact. A wallet is a device that stores your private keys, and cryptographically provides access to transfer ownership of your coins via public-key encryption.

Wallet Types

  • Hot wallet
    • Software hot wallet
    • Mobile hot wallet
  • Cold Wallet
  • Paper Wallet

Crypto Economics

Tokenomics is the portmanteau of cryptocurrency token economics and describes the economic factors of how tokens are designed to be used, spent, and distributed to users and holders within a token's ecosystem.



Tokenomics is the economics of the interaction between supply and demand characteristics of a cryptocurrency.

Considerations

Supply

  • How many coins or tokens currently exist?
  • How many will exist in the future and when will they be created?

Demand

  • What use cases is there for the token?
  • Is there a reason for someone to hold the token rather than sell it?
  • What other factors may increase the demand for people to want this token?

Additional Tokenomics Questions

  • Who owns the coins? Are there some set aside to be released in the future to developers?
  • Is there any information to suggest that a large number of coins has been lost, burned, deleted or are somehow unusable?

Where to find tokenomics information

  • token/project/protocol whitepapers
  • token/project/protocol website
  • coinmarketcap/coin gecko

Crypto Regulation

Taxes

Taxation on cryptocurrencies varies widely by country, use case of the tokens, personal vs business use, time length held for, and other factors. Regulation and taxation is still in flux the world over. If you are concerned about your tax liability please consult a tax professional in your jurisdiction.

Lots of detail on short-term vs. long-term capital gains from Investopedia.

Cryptocurrency is taxed as a commodity/security rather than a currency in both USA and Canada.

Taxable Events

You are expected to calculate and report your gains or losses from ALL of the following taxable events:

  • Selling or gifting a cryptocurrency
  • Trading or exchanging one cryptocurrency for another
  • Converting cryptocurrency to fiat currency such as $CAD or $USD
  • Using cryptocurrency to buy goods or services
  • Receiving cryptocurrency through an airdrop
  • Receiving cryptocurrency as a result of hard forks

Mining Cryptocurrency

If you are mining as a business with a business license taxation rules are different than mining as a hobby.

Canada

  • Cryptocurrency is taxed in Canada as either capital gains or as income tax, depending on whether your activity with cryptocurrency is considered to be as a business or not. **100% of business income is taxable, whereas only 50% of capital gains are taxable. If you're unsure whether you are operating on a personal or a business level, consult with a tax professional.
  • Cryptocurrency is taxed as a commodity by the Canadian Revenue Agency.

Capital Gains & Losses

  • Taxation in Canada is based on the difference between the sale revenue of your crypto and your adjusted cost base (ACB).

Canada Tax Guide

A full Canada crypto tax guide is available from Koinly.io.

United States

  • Note about tax brackets: Taxable income is charged at a marginal tax rate, meaning your first $9,950 of short-term capital gains is taxed at 10% and then the excess is taxed at next rate i.e. income from $9,951-$40,525 is taxed at 12%, and so on.
  • Cryptocurrency is taxed as a commodity and/or security by the Internal Revenue Service.

Short-term Capital Gains

  • US currently treats gains and losses from crypto held for less than one year as short-term capital gains or losses.
Short-term USA capital gains rates

Long-term Capital Gains

  • If held for more than one year, it is treated as long-term capital gains or losses.
Long-term USA capital gains rates

US Tax Guide

A full US tax guide is available from Accointing.com

Tax rate images are from Turbotax.

United Kingdom

  • Holding cryptocurrency as an investment is subject to capital gains tax when "disposed" of. Disposal is what is known as a taxable event in US and Canada.
  • Capital gains taxes depend on your taxable income band. You have an allowance for your first £12,570 of income tax free.
  • Cryptocurrency is taxed as four separate types of cryptocurrencies, differentiated by use case of each token by Her Majesty's Revenue and Customs (HMRC).

Capital Gains Tax Bands

  • Unlike the US and Canada, the UK does not differentiate long-term vs short-term capital gains.
  • Capital gains bands are different in you live in Scotland.
UK capital gains tax bands

Tax rate image is from gov.uk.

UK Tax Guide

A full UK tax guide is available from Koinly.io. There is a second UK tax guide from Cointracker.io.

Crypto Tax Plan Discounts

View a comparison of several Crypto Trackers.

Get $10 off a paid tax plan with Accointing.com with this Accointing referral code.

Get $20 off a paid tax plan with Koinly.io when you use this Koinly referral code.

Get $10 off a paid tax plan with Cointracker.io with this Cointracker referral code.

Investments

Trackers

Exchange Trackers

CEX trackers connect with Application Programming Interfaces (API’s) to your exchange accounts - Gemini actually gave me the most trouble setting up the API

These trackers can collate the information needed to file your taxes on your gains (or losses). Many can even create the tax documents you will need. These trackers make money by selling you the convenience of centralized information for you come tax time. The support for these trackers for DeFi is spotty; newer DEXs and especially new yield farms are less supported.

DeFi Trackers

DeFi trackers connect directly to your wallet address, can track yield in lending and farming

  • Debank – really like their interface - tracks across Ethereum + Eth Layer 2's xDai, Optimism, Arbitrum, Polygon; BSC, Fantom, OKExChain, HECO, Avalanche, CELO, and Solana coming soon
  • Zapper.fi – some gamified aspects, NFTs in contests + for usage
  • Apeboard.finance – DeFi hub, tracks MATIC, BSC, Ethereum + ETH L2's (polygon, Ronin, Arbitrum), SOL, Cosmos, Fantom, Avalanche, and Terra chains no issues
  • Instadapp – working to be a one-stop-shop for DeFi for devs and users. Launched gov token INST in summer 2021

Discounts

View a comparison of several Crypto Trackers.

Get $10 off a paid tax plan with Accointing.com with this Accointing referral code.

Get $20 off a paid tax plan with Koinly.io when you use this Koinly referral code.

Get $10 off a paid tax plan with Cointracker.io with this Cointracker referral code.

Yield

Charts + Charting

  • Trading View – the one and only, browse thru the editor’s picks for indicators, there are some 🥇 hidden
  • 💩Coin charts – good tracking for shitcoin gambles on BSC; now on Polygon and KuChain as well

Centralized Exchanges (CEXs)

Exchange Info

Kraken

🦑 Kraken – I like them the most of this list

  • Kraken has been in the game since 2011 and never been hacked
  • Their charts are actually Trading View with a new face, and they allow unlimited indicators – Trading View only allows 3 at free tier
  • Staking options available DOT KSM ETH + more
  • participate in DOT/KSM parachain auctions
  • Europeans have a free fiat on-ramp US does not
  • low trading/withdrawal fees
  • ADVANCED ONLY: low-margin trading available, derivatives trading for non-US
  • BEST FEATURE: Security + great charts

Gemini

💎 Gemini – First 10 withdrawals each month are free! No Ethereum gas fees to withdraw to your wallet

  • Pro version is called Active Trader
  • Low trading fees on Active Trader (need to switch a setting in your account, can be confusing)
  • Earn via LENDING not staking on their exchange (unlock period to withdraw)
  • ACH fiat on-ramp
  • Credit card waitlist
  • BEST FEATURE: First 10 withdrawals per month are free

Coinbase

Coinbase – Easy to use

Crypto.com

Crypto.com – no trading fees 1st month

  • credit card buy option
  • staking options
  • ACH fiat on-ramp
  • credit card with BTC rewards
  • mobile only in the US
  • BEST FEATURE: Credit card rewards

Binance

Binance – cheap fees - hold a bit of BNB for an even further fee discount

  • no US customers
  • Binance academy is really good
  • Also uses Trading View for charts
  • Binance earn for staking and lending
  • ADVANCED ONLY: derivatives trading – options, futures, margin trading;
  • Platform Risk:
    1. Binance is tied up with Tether USDT providing a lot of liquidity for the exchange. If USDT fails… ???
    2. Binance is invested in AVOIDING regulations, regulators focusing on them second half of 2021
  • BEST FEATURE: Access to new altcoins and cheap fees

KuCoin

KuCoin – NO KYC required

  • Cheapest trading fees, hold their token $KCS for even bigger discount
    • Watch out for unexpectedly high withdrawal fees
  • ADVANCED ONLY: derivatives trading
  • No fiat on-ramp
  • Platform Risk:
    1. KuCoin is Headquartered in the Seychelles and keen to avoid regulation as much as possible.
  • BEST FEATURE: Cheap trading fees and no KYC

Cheapest trading fees - Kucoin and Binance but watch out for withdrawal fees on both platforms, can be quite steep for certain coins – it’s where they make their money - Binance withdrawal fees - Kucoin withdrawal fees

Exchange Referrals

Centralized Finance (CeFi)

  • Celsius network – earn on your coins by lending, earn more by holding their token $CEL, can borrow against your collateral cheaply

Decentralized Finance (DeFi)

Decentralized Exchanges (DEXs)

  • Uniswap – the OG on Ethereum
  • Sushiswap – was UniSwap clone, now its own thing on Ethereum and polygon, offers bit of yield farming and staking for governance and profit sharing
  • Pancakeswap – was UniSwap clone on BSC, now does yield farm, staking and other stuff too
  • Quickswap – UniSwap clone on polygon L2

DeFi Yield Farm/Lending

  • Aave – polygon incentives make borrowing SUPER cheap (no longer negative interest to borrow, sorry apes)
  • Kyber DMM – my current farm on polygon, big matic incentives allocated
  • Compound – I’m not too familiar, but similar to Aave, over-collateralized DeFi loans
  • Pancakeswap – staking CAKE to earn some speculative shitcoins and some hidden alts
  • Curve – stablecoin pools earning ~8% I think, safe liquidity pool except for risk exposure to USDT in their atri pool, WBTC/renBTC pool on polygon ~18% I think

Non-Fungible Tokens (NFTs)

A non-fungible token (NFT) is a digital asset linked to a blockchain such as Bitcoin and Ethereum. It is generally built using the same programming as cryptocurrency. Cryptocurrencies (and fiat) are fungible which means they can be exchanged or traded for one another, while unique NFTs can be bought and sold. NFTs are unique cryptographic tokens that cannot be replicated or replaced. NFTs can be art, GIFs, music, and videos.

Fungible coins like Bitcoin and Ethereum are a way to own financial assets on a blockchain. NFTs are a means of owning culture.

By adding various tags and metadata at NFT creation, each NFT is guaranteed unique from others like it. Because NFTs are tokens on blockchains, whoever controls the private keys for an NFT can prove their ownership and history of the item, termed provenance. The ability to prove the history of digital items is very valuable to collectors and drives much of the demand for Profile Picture (PFP) projects.

There is much speculation on the uses for NFTs and we are still just scratching the surface of their potential.

Communities

DAOs

Decentralized Autonomous Organizations (DAOs).

The Arts

The first uses for NFTs focused on digital art and profile pictures (pfps) for projects like Crypto Punks. Additional utility has been added by using the individual NFTs as proof of membership or subscription for a community, like Bored Ape Yacht Club.

<resale_info>

Music

We are beginning to see projects like Audius and Royal develop NFTs for music, allowing fans to pay for and own tracks in progress, and follow track development from their favorite artists.

Gaming

Games like Decentraland have entire virtual worlds where players are invited to bring their own NFTs (Ethereum ERC-721 or ERC-1155 or even ERC-2309 tokens) and use them within the game. Players have set up digital art museums to show off their art (charging admission for the right to view it), some use their NFTs from other games as their avatars, and Decentraland itself sells the digital land itself as NFTs.

Bonus!

Crypto/blockchain game reviews

Further reading on Reddit

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