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A sequence, not a shortcut

Crypto
learning path.

From keys and custody to protocol-level risks. Work through 18 lessons in order, or return to the stage that needs more attention.

The crypto learning path moves from keys and settlement through protocols to an explicit map of trust assumptions.
STAGE 01

Get the mechanics right

Build a vocabulary you can use without hiding behind it.

  1. Blockchain basics: what changes hands? Beginner · 8 min
  2. Spot crypto: spreads, depth, and execution Beginner · 7 min
  3. Wallets and custody: who controls the keys? Beginner · 7 min
  4. Stablecoins: a target price is not a guarantee Intermediate · 7 min
  5. Crypto derivatives: margin, funding, and liquidation Intermediate · 7 min
  6. Tokenomics: supply is only half the story Intermediate · 9 min
Pause and applyExplain the last two lessons to someone who has never traded. Identify one simplification in each example.
STAGE 02

Connect the moving parts

Bring product structure, costs and decisions into the same explanation.

  1. Crypto scams: recognize the process, not the costume Beginner · 7 min
  2. A crypto research workflow that can say “unknown” Intermediate · 9 min
  3. On-chain data: observable does not mean interpretable Intermediate · 10 min
  4. Bridges: moving assets means changing trust assumptions Advanced · 10 min
  5. Oracles: the price a contract believes Advanced · 11 min
  6. DeFi composability: mapping the dependencies beneath yield Advanced · 10 min
Pause and applyWrite a scenario where the apparent opportunity disappears after costs, constraints or an adverse price move. State the numbers and the assumptions separately.
STAGE 03

Challenge the comfortable assumptions

Study the situations where a simple model or confident narrative breaks down.

  1. Liquidity pools: fees, inventory and divergence loss Advanced · 10 min
  2. Token governance: voting power is not ownership of cash flows Intermediate · 10 min
  3. MEV: transaction ordering as an execution cost Advanced · 11 min
  4. Liquid staking: rewards, redemption and market discounts Advanced · 10 min
  5. Layer 2: fast confirmation is not the same as final settlement Advanced · 10 min
  6. Liquidation engines: collateral buffers under stress Advanced · 11 min
Pause and applyTrace an asset from acquisition through custody, trading, bridge or application use and withdrawal. At each step identify who or what can prevent recovery.
Completion means you have read the material, not that a product is suitable or that you are ready to trade. Use the practice lab before adding real-world stakes.
Continue to the practice lab →

Trace what must work before the balance becomes usable money

Carry one hypothetical token balance through this path. Draw the route from control of the keys to a transfer, an executable sale and receipt of spendable account currency. Label who or what can block each step: a custodian, contract, bridge, trading venue or bank. A visible balance and a quoted price do not establish access, redemption rights or sufficient market depth.

At each stage, separate fees from changes in value and record when settlement is final under the stated assumptions. Then break one link: withdrawals pause, a price feed becomes stale, or liquidity disappears while collateral is required. Explain which claim survives, which transaction cannot complete and what information is missing. Compare the outcome with simply holding the underlying assets; yield or rewards alone do not measure the full result.