Crypto for beginners

How does crypto work?

Let us look at an example. 

Reddcoin is an altcoin and there are about 10 coins to 1 cent.

Now to interact with crypto you need a wallet. 

The coins are not stored in the wallet.

They are stored on the blockchain.

This is a public record. 

The following link shows that I have put 25 coins on the reddcoin blockchain

https://live.reddcoin.com/address/RdZSBRsyvS7MDQDbkVN5Hx39nREFU7rAEf

To receive coins you give your public address. 

To access your coins on the blockchain you need your private key. 

Keep this secret. 

To access coins on the blockchain sweep the Private key into your wallet. 

Don't import the Private key, you sweep it.

Otherwise someone could steal your coins. 

Here is the private key for the 25 reddcoins loaded on the blockchain. 

7N9bNz32pMAnonC9iyLKyUyYoQDUMRnMC6a8GTsxqmeaNYC68hP

And that is basically it.