The Crypto Tutorial
New to cryptocurrency and also want to send me money? Here's a tutorial that will help you learn a bit about how to send money onchain.
Step 1: Get a Wallet
When I say wallet, I don't mean that you should take the piece of leather in your back pocket and plug it into the PC.
The wallet is software on your phone or PC that allows you to interact with the world of cryptocurrency.
I would recommend Coinbase Wallet for a few reasons:
- It offers a free ENS name (someone.cb.id)
- It supports chains beyond the Ethereum ecosystem (Bitcoin, Solana, Dogecoin, Litecoin)
- It integrates directly with Coinbase to allow you to buy and sell crypto
You may also be given a recovery phrase (12 random words). Write this somewhere safe (or in digital form with encryption).
It lets you restore your wallet if you lose your phone, but treat it like a password since anyone with the phrase can access your funds.
You may also be given the option to claim the free .cb.id username, which you can give to people to send you money without the long address.
Step 2: Get Some Crypto
This tutorial will focus on the Ethereum ecosystem, and two currencies within it: Ether (ETH) and USD Coin (USDC).
You can buy crypto using the Buy button at the top of the Coinbase Wallet app, either directly with a debit card or by creating an account with Coinbase.
For beginners, change the network to Base as its gas fees are much cheaper than the mainnet.
You'll need some ETH to begin with, to pay the aformentioned gas fees. Get about $2 of ETH. (or a bit more if you want)
The crypto you'll actually use to donate to me is USDC. It's what's known as a stablecoin, a cryptocurrency that's the same as a dollar.
If you wanted to send me $10, you would buy 10 USDC.
Step 3: Send USDC
Go back to find my address and ENS name (the ENS is littlebit670.eth).
Tap the line that says "USD Coin" or "USDC" and tap Send.
You'll be asked for the amount to send. Enter the amount and tap Next.
Now, a search box appears, asking for a destination (a phone, email, ENS name, or wallet address).
Enter my ENS name and tap the line that has the same name.
The final step is a summary of the transaction. Tap Confirm and authenticate.
If you claimed your username (someone.cb.id), the app will tell me that when I receive the donation.
Learn more about the Ethereum ecosystem on the LittleBit Web3 site.