Hallycon Academy

Course 12 · Going deeper

Crypto, explained honestly

What Bitcoin, blockchains and stablecoins really are, how volatile crypto has been, how custody and the EU's MiCA rules work, and where crypto fits in a plan, if at all.

  • 8 lessons
  • 56 min
  • Free
  • A certificate when you finish

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Who it is for

For anyone curious about crypto or under pressure to buy it, who wants to know how it works and what can go wrong. No coin is recommended here.

The lessons

Each lesson has a short video, a quiz and links to learn more. The full lessons open after a free sign-in.

  1. Lesson 1: What crypto is, and where it came from

    7 min

    Bitcoin was launched in 2009, after the banking crisis, as money without banks or a central bank. What that means, and what it doesn't.

    Key points

    • Bitcoin was described in a paper in October 2008 and went live in January 2009.
    • No central bank or company issues it; a network of computers keeps the record.
    • Its supply is capped at 21 million coins; its price is only what buyers will pay.

  2. Lesson 2: Blockchain in plain words

    7 min

    A shared record book that thousands of computers keep at once. How entries are added, why they are hard to change, and what it costs in energy.

    Key points

    • A blockchain is a shared list of transactions, grouped in blocks that are chained together.
    • Bitcoin adds blocks by "mining" (proof of work), which uses a lot of electricity; other networks use "proof of stake".
    • Hard to change also means hard to undo: a mistaken or scammed payment is usually gone for good.

  3. Lesson 3: Beyond Bitcoin: ether, tokens and thousands of coins

    7 min

    Ether, smart contracts and the thousands of tokens that followed. Why most coins faded, and how hype cycles work.

    Key points

    • Ether runs small programs ("smart contracts"); many other tokens are built on such networks.
    • More than 16,000 crypto-assets existed in 2022, and many lost almost all their value or disappeared.
    • A new coin with a famous name or face behind it proves nothing.

  4. Lesson 4: Stablecoins and the digital euro

    7 min

    Coins meant to stay at €1 or $1. How they hold their value, what happened when one failed in 2022, and how they differ from a digital euro.

    Key points

    • A stablecoin tries to stay equal to a currency, usually backed by cash and short-term bonds.
    • In May 2022 a large stablecoin without real reserves collapsed within days (ECB, historical).
    • Under MiCA, stablecoins offered in the EU need a licence and reserves; a digital euro would be central bank money, not crypto.

  5. Lesson 5: Volatility: the honest history

    7 min

    Crypto has risen fast and fallen fast, again and again. The falls in numbers, and why past rises tell you nothing about the next ones.

    Key points

    • Bitcoin fell more than 70% from its peak twice since 2017: −84% in 2017–18 and −77% in 2021–22 (FRED price data, historical).
    • EU supervisors warn that buyers can lose all the money they put in (ESMA, EBA and EIOPA joint warning, March 2022).
    • Plan as if any amount in crypto could halve within a year: from October 2025 to June 2026, bitcoin did.

  6. Lesson 6: Wallets, exchanges and keeping crypto safe

    7 min

    Who holds your coins, a platform or you. Seed phrases, hot and cold wallets, platform collapses, and the tricks used on crypto owners.

    Key points

    • On a platform the firm holds your coins; in your own wallet you hold the keys, and nobody can help if you lose them.
    • Platforms have collapsed and frozen customers' coins, as in 2014 and 2022 (historical).
    • Never share your seed phrase or let anyone control your screen; no real firm will ask.

  7. Lesson 7: The rules: MiCA, licences and tax

    7 min

    The EU has regulated crypto firms under MiCA since the end of 2024, with a transition that ended on 1 July 2026. How to check a licence, what MiCA does and doesn't protect, and how crypto is taxed where you live.

    Key points

    • Since 1 July 2026 at the latest, crypto firms serving EU customers need a MiCA licence; check ESMA's register or your regulator's.
    • MiCA regulates firms, not prices: it does not protect you when coins fall.
    • Crypto gains can be taxable, and from 2026 platforms report to tax offices under EU rules (DAC8); check your country's rules.

  8. Lesson 8: If you still want crypto: the honest place

    7 min

    Only money you can lose entirely, a small share, no borrowing, no leverage, never on a stranger's advice. A short checklist.

    Key points

    • Crypto comes last: after the emergency fund and the core of your plan, and only with money you could lose completely.
    • No leverage, no borrowing: EU rules cap crypto CFDs at 2:1 for private clients because of the risk (ESMA, 2018).
    • If someone you've never met talks you into crypto, stop.

What’s inside

  • Short videos: About two minutes for each lesson
  • Quizzes: Three questions after each lesson
  • Calculators: Inflation, compound interest, an emergency fund and fees
  • Certificate: For every course you complete

The full lessons, videos and quizzes open after a free sign-in: your name, email, mobile number and a PIN. No card, no obligation.

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General financial education. Hallycon Academy does not manage money, sell investment products or give personal advice. Examples in the lessons promise no return.

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