Cryptocurrency Accounts

What is a Crypto Account?

• Not like a traditional bank account
• TODO: explain public/private key pairs
• TODO: addresses vs accounts

Types of Wallets

Hot Wallets

• Connected to the internet
• TODO: software wallets (MetaMask, Trust Wallet)
• TODO: exchange wallets (Coinbase, Kraken)
• TODO: convenience vs security trade-off

Cold Wallets

• Offline storage
• TODO: hardware wallets (Ledger, Trezor)
• TODO: paper wallets
• TODO: air-gapped computers

Exchanges vs Self-Custody

Centralized Exchanges (CEX)

• TODO: how they work (Coinbase, Binance, Kraken)
• TODO: "not your keys, not your coins"
• TODO: KYC requirements
• TODO: risks (FTX collapse as example)

Decentralized Exchanges (DEX)

• TODO: Uniswap, SushiSwap
• TODO: how liquidity pools work
• TODO: no KYC but still traceable

Self-Custody

• TODO: controlling your own private keys
• TODO: seed phrases and recovery
• TODO: responsibilities and risks

Security Considerations

• TODO: seed phrase storage
• TODO: phishing attacks
• TODO: SIM swapping
• TODO: hardware wallet best practices
• TODO: multisig setups

Tax Implications

• TODO: every trade is a taxable event (US)
• TODO: cost basis tracking
• TODO: reporting requirements

References

• TODO: Add references