Crypto Consultations Picking Up...Any Suggestions?
I've been introducing people to Bitcoin and blockchain tech informally for about 3 years now. I also started a private chat in March to help become familiar with the technology and quickly realized that individuals new to the space needed a lot more than just Q&A...they needed this new asset class presented to them in a structured manner that displays how all the pieces fit together. We know how easy it is to go down many of the various crypto rabbit-holes when trying to explain it to a noob. With this in mind, I recently started doing formal beginner consultations for those in my network who want to learn the fundamentals.
Just a few weeks in I have a couple of consults under my belt and even though I feel they went pretty well I'm always looking to improve. I also created an online course that is a prerequisite to the consultation. The online course just covers the blockchain basics that people should know before they put a penny into crypto. Things like: what is BTC/ETH, what is a blockchain, what does it mean to be decentralized, what are smart contracts, key terms, resources, etc.
After going through the course we proceed with the consultation. This is the current structure I have in place when providing this service. The consultation takes place either in person or through a screen share and includes follow-up sessions because no one gets it the first time around.
1. ONLINE COURSE - As stated above, the online course is to get the student familiar with the fundamentals of blockchain, Bitcoin, and cryptocurrency. Here are a few screenshots from the course.
2. GOALS - Before making an investment I ask clients what are their goals and why they want to get into crypto. Do they want passive/active income, autonomy, a long-term investment vehicle, a little of it all? It's important to identify goals and expectations first. This helps keep your decision making in check.
3. ON-RAMP - We cover the more common "entry points" or "on-ramps" to crypto in the US (my location). For the sake of keeping it simple, I stuck to the more user-friendly methods for exchanging fiat into crypto. To just get your feet wet there isn't anything wrong with platforms like Coinbase, CashApp, or Gemini in my opinion. I also touch on p2p, but that is for the more experienced user.
4. BASIC SECURITY - Fundamental crypto security...concepts like "public vs private keys", "not your keys, not your coins", "key storage", "password storage", "custodial vs non-custodial wallets and exchanges".
5. WALLETS - The different types of wallets to be familiar with. Paper, hardware/software, web browser, mobile.
6. EXCHANGES - Know the difference between crypto exchanges and on-ramps, even though they're interchangeable in some cases.
7. WAYS TO EARN CRYPTO - Different ways to earn crypto. I touched on:
- LEO & HIVE of course
- BTC cashback platforms like Fold and Lolli
- Coinbase Earn
- Crypto based games like Splinterlands and Gods Unchained
- Offer products/services in exchange for crypto
- Faucets
What are some other topics you guys would consider prerequisites when introducing individuals to the space? Keep in mind I want the information to be consumable for people who are brand new, so not too technical.
Posted Using LeoFinance Beta