Understanding Crypto Wallets and Decentralized Apps

Saving this for the day after Taco Bell night I need something to read during a long bathroom visit

Ming said:
Saving this for the day after Taco Bell night I need something to read during a long bathroom visit

It’s actually not very long or complicated

To summarize; Cold wallet is a secure physical box but not very convenient.

Hot wallet (GME, Metamask, Loopring) is a software that is quick and convenient but poses serious risks Your security phrase is crucial, so keeping it safe in a physical location like a safe is important If you lose your security phrase, you could lose everything, and there’s no customer service to help in recovery It simply isn’t possible

A crypto wallet gives you full control over your money, but it also means you won’t have any backup.

I have been following crypto for about a year but I still feel like a total newbie

I have a question about something unrelated to wallets but connected to web3 gaming and the GME marketplace

I saw a post by Robbie about this game x.com

Are we able to earn eth by playing it, or is it just that the game operates on the eth blockchain

Thanks again for the insightful write-up

@mckambodian
Honestly I’m not sure There can be different ways to earn in games, and the industry is still developing But imagine a game like Candy Crush You get rewards for reaching levels Or maybe there are prizes for discovering bugs in the game Who knows

If you could make a cool video with fast drawings and sponsorship from curiosity, I would definitely like and subscribe

To be honest, it was Uncle Ben who taught us that lesson

Kiernan said:
To be honest, it was Uncle Ben who taught us that lesson

You’re right ! :rofl:

I love this The pants part made me laugh because it was very effective Boss write up overall :gorilla::pirate_flag:

The GameStop wallet could lead to a huge onboarding of users who haven’t been on the blockchain yet I know it’s been mentioned, but this post really speaks volumes I know all this info, but it warms my heart to see it shared with love Great tips for newcomers and honestly, I wish I had known some of these things earlier to avoid learning the hard way

Good job.

@Francis
Thanks for that I really appreciate it Yes, many learn from tough experiences at first and can guide those who come later to avoid similar mistakes

Thanks for sharing this

Kyle said:
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Good job on this post!

This is a great post for people just starting out Thank you for sharing I will keep it for future reference!

Warm wallet made me laugh

I am 6 and gained a wrinkle - thanks for sharing this I might even let you see my underwear after this…

How does the button pressing work on a cold wallet if it isn’t connected to the internet? Also what does a cold wallet actually look like I’m a bit confused

Wylder said:
How does the button pressing work on a cold wallet if it isn’t connected to the internet? Also what does a cold wallet actually look like I’m a bit confused

Great question Check out some videos on ‘how to use a Trezor’ or ‘how to use a Ledger’ Seeing it demonstrated will help a lot :slight_smile:

@James_Spader
Got it This clears things up for me, thanks! The USB port was the part I was missing in my understanding

This is a fantastic post Thank you for taking the time to put it all together Very helpful.