Cryptocurrency: Facts and Myths
Cryptocurrency: Facts and Myths
Lesson duration is: 60 minItems in this lesson
Cryptocurrency: Facts and Myths
What do you already know about cryptocurrency?
Learning Objectives
At the end of the lesson, you will be able to:
Describe what cryptocurrency is and how it operates.
Identify and correct common myths about cryptocurrency.
Explain why people use cryptocurrency and understand some potential risks associated with it.
What is Cryptocurrency?
Digital or virtual money. Uses cryptography for security. Decentralised and operates on blockchain technology.
YouTube Clip
Common Myths About Cryptocurrency
Myth: Cryptocurrency is not real money. Fact: It is a form of currency used for transactions. Myth: Cryptocurrency is only for illegal activities. Fact: It has legitimate uses in various sectors.
Why People Use Cryptocurrency
Facilitates online transactions. Investment opportunities. Anonymity and security features.
Potential Risks of Cryptocurrency
Highly volatile market. Lack of insurance on investments. Regulatory uncertainties.
Definitions
Cryptocurrency: Digital or virtual money that uses cryptography for security.
Blockchain: a digital record book shared across many computers. Once something is written in it, it can't be changed, making it secure and trustworthy.
Write down 3 things you learned in this lesson.
Write down 2 things you want to know more about.
Ask 1 question about something you haven't quite understood yet.
