๐ก This weeks market overview with data provided by #dropstab ๐ก
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๐ช Airdrop Opportunity ๐ช #catizen
We all know about Notcoin and the success that dapp has had on Telegram, now I want to introduce you all to the new cat in town, Catizen.
Dive into the Meow Universe, where each heartbeat echoes with the promise of uncharted territories! Catizen, the blazing comet in the digital cosmos, beckons you to a realm of GameFi ecstasy, AI brilliance, and Metaverse grandeur.
Picture this: a Play-to-Airdrop odyssey where every adventure adds fuel to a collective saga. The clock is ticking, and our audacious mission is set unite 100 million adventurers in 2024 in a digital haven of exploration and growth;
In the nexus of casual gaming and groundbreaking innovation, Catizen unveils a revolutionary Play-To-Airdrop model. Your journey is not just a game; itโs a treasure hunt for tokens in the vastness of the Meow Universe; AI-powered feline companions await, wandering through augmented reality, while the Metaverse expands beyond imagination;
๐ช How to join Catizens ๐ช
Please follow the links below, join the the top one, followed by the second link as each link does has a different mechanic, also our community chat has it's own group in game, so it's time to show the Meowverse, we have arrived:
Invite link:
https://t.me/catizenbot?start=rp_1918149
Squad link:
https://t.me/catizenbot?start=r_681_1918149
๐ชCatizen Official Links ๐ช
Website: https://catizen.ai
Telegram: https://t.me/CatizenAI
X Profile: @CatizenAI
Whitepaper: https://docsend.com/view/h9x78qwy4yz2bfd7
Catizen Blog: https://medium.com/catizen
We all know about Notcoin and the success that dapp has had on Telegram, now I want to introduce you all to the new cat in town, Catizen.
Dive into the Meow Universe, where each heartbeat echoes with the promise of uncharted territories! Catizen, the blazing comet in the digital cosmos, beckons you to a realm of GameFi ecstasy, AI brilliance, and Metaverse grandeur.
Picture this: a Play-to-Airdrop odyssey where every adventure adds fuel to a collective saga. The clock is ticking, and our audacious mission is set unite 100 million adventurers in 2024 in a digital haven of exploration and growth;
In the nexus of casual gaming and groundbreaking innovation, Catizen unveils a revolutionary Play-To-Airdrop model. Your journey is not just a game; itโs a treasure hunt for tokens in the vastness of the Meow Universe; AI-powered feline companions await, wandering through augmented reality, while the Metaverse expands beyond imagination;
๐ช How to join Catizens ๐ช
Please follow the links below, join the the top one, followed by the second link as each link does has a different mechanic, also our community chat has it's own group in game, so it's time to show the Meowverse, we have arrived:
Invite link:
https://t.me/catizenbot?start=rp_1918149
Squad link:
https://t.me/catizenbot?start=r_681_1918149
๐ชCatizen Official Links ๐ช
Website: https://catizen.ai
Telegram: https://t.me/CatizenAI
X Profile: @CatizenAI
Whitepaper: https://docsend.com/view/h9x78qwy4yz2bfd7
Catizen Blog: https://medium.com/catizen
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๐ก Fastest growing web3 DeFi platforms in terms of TVL *Total Value Locked* for the month of March 2024, data courtesy of #dropstab & DefiLlama respectively ๐ก
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๐ก The growth of this community has been on another level, the community started just over 1 month ago and we are now at a staggering 419.1K subscribers. Thank you for choosing to be the present and future of web3 ๐ก
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โ๏ธ Lorenzo Protocol โ๏ธ
Lorenzo BTC liquid staking enhances BTC shared security by offering stakers liquidity and accessibility, while also bolstering security within the DeFi ecosystem. It achieves this by:
โซ๏ธProviding Liquidity: Stakers receive stBTC tokens equivalent to their staked BTC, allowing them to participate in DeFi activities without losing access to their capital, thereby injecting a significant amount of liquid BTC assets into the DeFi and liquid restaking ecosystem.
โซ๏ธLowering Staking Barriers: By enabling staking of small BTC amounts, it opens up reward opportunities to a wider range of stakers, diversifying the ecosystem.
โซ๏ธStrengthening Security: Through a set of mechanisms designed to protect staked assets, BTC liquid staking ensures enhanced safety for participants.
Action:
Go to the following link below and complete the social tasks as required:
https://galxe.com/LorenzoProtocol
Once you've done that, please go to the following link below to get the early user role in discord, this potentially could lead to rewards in the future:
https://guild.xyz/lorenzo-protocol
โ๏ธ 0g Labs โ๏ธ
First Modular AI chain: Starting with the fastest programmable DA layer for AI dapps;
Build with the latest Web3 modular infrastructure and the most advanced tools to unlock the full potential of Web3. Leverage our state-of-the-art Data Availability and storage solution today;
โซ๏ธLightning Speed
Better performance opens up more solution spaces.
โซ๏ธ Optimized for Onchain AI
Ability to store large inference traces and input data and run inference requests.
โซ๏ธ 1000x Lower Costs
Storage, retrieval costs of $0.0005 vs ~$51 for Eth L1.
โซ๏ธ Total Customizability
Customize token mechanics, fields, signatures, storage location and replication, storage length, and ability to save and load state via smart contract on other L1s, L2s, and rollups.
Action:
Go to the following link below and complete the social tasks as required:
https://galxe.com/BZY4YAMhKEfgTPAQKaTWYn
Note:
0g Labs has a AMA coming up on April 3rd with the founders of this project coming off a very successful pre-seed funding round of $35M, I'd advise you to be there, if not listen afterwards as key intell could be dropped;
Lorenzo Protocol:
https://www.lorenzo-protocol.xyz/home
0g Labs:
https://0g.ai
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Galxe
Join Lorenzo Protocol on Galxe Quest
Contribute to Lorenzo Protocol on Galxe and collect rewards such as NFTs, tokens, OATs, loyalty points and more.
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๐ก Top Staking Providers AUM total *Assets Under Management* with current data accurate on 28th March 2024 with data provided courtesy of #stakingrewards and analytics provided courtesy of #cryptodiffer ๐ก
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๐ก This weeks market overview with data provided by #dropstab ๐ก
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๐ก Latest funding rounds in web3, highlights being 0g Labs, Peaq and Illuvium respectively with data provided courtesy of #dropstab ๐ก
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๐ช Airdrop Opportunity ๐ช #tapswap
The cryptocurrency industry is dynamically evolving, along with
blockchain technologies, which are opening new horizons for decentralized finance (DeFi). Inspired by the rapid development of the Solana blockchain, introducing TapSwap, a project that combines the key features of modern DeFi platforms and offers a multitude of new opportunities for our community;
TapSwap is a Solana-based crypto exchange with low fees, high throughput, and exciting features like staking and margin trading;
๐ชKey Features of $TAPS token๐ช
๐ฃ Maximum Supply:
1,000,000,000 $TAPS. This optimal quantity ensures a balance between the token's value and its accessibility to a wide audience;
๐ฃ Project Management:
$TAPS holders have the right to vote in key decisions of the TapSwap ecosystem;
๐ฃ Profit Distribution:
$TAPS tokens allow their holders to receive profits from operations conducted on the platform, encouraging long-term investment and participation in the ecosystem;
๐ช Tapswap Treasury ๐ช
The TapSwap Treasury is a powerhouse in its token economy, dedicated to securing the platform's long-term stability and growth;
โซ๏ธWith 300 million Taps tokens frozen for gradual use, Tapswap Treasury is poised to fuel strategic initiatives and development;
โซ๏ธUnlocking Plan: The team will unlock the Treasury in stages, up to 5% per month, ensuring a steady flow of resources into the TapSwap ecosystem. No flooding the market, just sustainable growth and a thriving token economy;
๐ช How to join TapSwap ๐ช
Please follow the link below to join this opportunity:
https://t.me/tapswap_bot?start=r_918976909
๐ช Official TapSwap Links ๐ช
Website: https://tapswap.ai
Telegram: https://t.me/tapswapai
X Profile: @tapswapai
Whitepaper: https://tapswap.ai/assets/tapswap_project-wXVhooEA.pdf
The cryptocurrency industry is dynamically evolving, along with
blockchain technologies, which are opening new horizons for decentralized finance (DeFi). Inspired by the rapid development of the Solana blockchain, introducing TapSwap, a project that combines the key features of modern DeFi platforms and offers a multitude of new opportunities for our community;
TapSwap is a Solana-based crypto exchange with low fees, high throughput, and exciting features like staking and margin trading;
๐ชKey Features of $TAPS token๐ช
๐ฃ Maximum Supply:
1,000,000,000 $TAPS. This optimal quantity ensures a balance between the token's value and its accessibility to a wide audience;
๐ฃ Project Management:
$TAPS holders have the right to vote in key decisions of the TapSwap ecosystem;
๐ฃ Profit Distribution:
$TAPS tokens allow their holders to receive profits from operations conducted on the platform, encouraging long-term investment and participation in the ecosystem;
๐ช Tapswap Treasury ๐ช
The TapSwap Treasury is a powerhouse in its token economy, dedicated to securing the platform's long-term stability and growth;
โซ๏ธWith 300 million Taps tokens frozen for gradual use, Tapswap Treasury is poised to fuel strategic initiatives and development;
โซ๏ธUnlocking Plan: The team will unlock the Treasury in stages, up to 5% per month, ensuring a steady flow of resources into the TapSwap ecosystem. No flooding the market, just sustainable growth and a thriving token economy;
๐ช How to join TapSwap ๐ช
Please follow the link below to join this opportunity:
https://t.me/tapswap_bot?start=r_918976909
๐ช Official TapSwap Links ๐ช
Website: https://tapswap.ai
Telegram: https://t.me/tapswapai
X Profile: @tapswapai
Whitepaper: https://tapswap.ai/assets/tapswap_project-wXVhooEA.pdf
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๐ก CoinList Seed Spring 2024 ๐ก
Introduction to the Spring 2024 cohort of projects.
โซ๏ธ1 - Aarc - https://www.aarc.xyz/
โซ๏ธ2 - Baxus - https://www.baxus.co/
โซ๏ธ3 - Earn Alliance -
https://www.earnalliance.com/
โซ๏ธ4 - Grove - https://www.grove.city/
โซ๏ธ5 - Plato Protocol - https://www.platoprotocol.com/
โซ๏ธ6 - Pocket Universe - https://www.pocketuniverse.app/
โซ๏ธ7 - Sleepagotchi - https://www.sleepagotchi.com/
โซ๏ธ8 - Spaces Protocol - https://spacesprotocol.org/
โซ๏ธ9 - Sustainable Bitcoin Protocol - https://www.sustainablebtc.org/
โซ๏ธ10 - Unstable Protocol - https://www.unstable.money/
โซ๏ธ11 - Watches.io - https://watches.io/
Now this is where you all come in, instead of myself doing all the research on these projects, I want you to work as a team and rank these projects from most potential to the least potential, this is solely a learning exercise introducing you all to due diligence and we'll compare findings in a months time;
This is perfect opportunity to learn the fundermental basics and tips and tricks to fundermental analysis and bring you all one step closer in being self-sufficient in the web3 industry;
For more information, please go to the link below:
https://blog.coinlist.co/introducing-the-coinlist-seed-spring-2024-batch/
Introduction to the Spring 2024 cohort of projects.
โซ๏ธ1 - Aarc - https://www.aarc.xyz/
โซ๏ธ2 - Baxus - https://www.baxus.co/
โซ๏ธ3 - Earn Alliance -
https://www.earnalliance.com/
โซ๏ธ4 - Grove - https://www.grove.city/
โซ๏ธ5 - Plato Protocol - https://www.platoprotocol.com/
โซ๏ธ6 - Pocket Universe - https://www.pocketuniverse.app/
โซ๏ธ7 - Sleepagotchi - https://www.sleepagotchi.com/
โซ๏ธ8 - Spaces Protocol - https://spacesprotocol.org/
โซ๏ธ9 - Sustainable Bitcoin Protocol - https://www.sustainablebtc.org/
โซ๏ธ10 - Unstable Protocol - https://www.unstable.money/
โซ๏ธ11 - Watches.io - https://watches.io/
Now this is where you all come in, instead of myself doing all the research on these projects, I want you to work as a team and rank these projects from most potential to the least potential, this is solely a learning exercise introducing you all to due diligence and we'll compare findings in a months time;
This is perfect opportunity to learn the fundermental basics and tips and tricks to fundermental analysis and bring you all one step closer in being self-sufficient in the web3 industry;
For more information, please go to the link below:
https://blog.coinlist.co/introducing-the-coinlist-seed-spring-2024-batch/
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๐ 0g Labs AMA Reminder ๐
Just letting you all know, in just under two hours, there's going to be a 0g Labs AMA via X Spaces, if you all remember 0g Labs was showcased in our last Galxe Campaign Recommendations post last week;
To attend, please go to the link posted below:
https://x.com/i/spaces/1dRKZEAkBeAxB
If you can't attend, it will be recorded for you all to listen too at a later date, I'll will be in attendance as it's a very intriguing project I'm personally will be keeping tabs on ๐
Just letting you all know, in just under two hours, there's going to be a 0g Labs AMA via X Spaces, if you all remember 0g Labs was showcased in our last Galxe Campaign Recommendations post last week;
To attend, please go to the link posted below:
https://x.com/i/spaces/1dRKZEAkBeAxB
If you can't attend, it will be recorded for you all to listen too at a later date, I'll will be in attendance as it's a very intriguing project I'm personally will be keeping tabs on ๐
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๐ก Q1 2024 web3 raised captial across the Top 20 projects with data courtesy of #dropstab ๐ก
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๐ก A breakdown in Wallet Management is coming later today, if you read one thing this year, it'll have to be this as honestly your Wallet Management could make or break your crypto cycle;
Will be going into the basics and share tips and tricks to make your journey into crypto as safe as it possibly can be ๐ก
Will be going into the basics and share tips and tricks to make your journey into crypto as safe as it possibly can be ๐ก
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โธ The Introduction and Fundermentals of web3 #Wallet Management โธ
This current market cycle is in full flow & more and more newcomers are coming into the industry, however that like feeding food for scam artists and it's now more important than ever to understand how to manage your wallets;
๐ณ What is a web3 wallet ๐ณ
A Web3 wallet is like a digital container for your online assets, allowing you to securely store & manage your cryptocurrencies & digital collectibles. Besides that, it allows you to interact with decentralized applications on the blockchain;
๐ณ What are the key differences between a traditional crypto wallet and a web3 wallet ๐ณ
A traditional cryptocurrency wallet is soley used has a digital vault for your assets, only allowing the functions of sending or recieving assets within the application.
Where a web3 wallet differs, it allows you to explore the decentralised web3 landscape and explore sectors like DeFi and Gaming, giving you a plethora of opportunities to explore, interact and learn;
๐ณ What are the different types of web3 wallets ๐ณ
There are two main types of web3 wallet:
๐ฅ Hot Wallet ๐ฅ
A hot wallet is simply a wallet that is available online, whether that's through a desktop, web and/or mobile application, this type of wallet is best for everyday activities, however this type of wallet is more sceptical to security threats;
โซ๏ธ Examples of Hot Wallets โซ๏ธ
๐ฅ Metamask - https://metamask.io/
๐ฅ Trust Wallet - https://trustwallet.com/
๐ฅ Phantom Wallet -
https://phantom.app/
๐ฅ Exodus Wallet -
https://exodus.com/
๐ฅ OKX Wallet -
https://www.okx.com/web3
โ๏ธ Cold Wallets โ๏ธ
A cold wallet is a physical hardware device which is offline, much less risk of being attacked and only used to store and transfer assets and suitable for substantial amounts of assets to be stored;
โซ๏ธ Examples of Cold Wallets โซ๏ธ
โ๏ธ Ledger - https://www.ledger.com/
โ๏ธ Trezor -
https://trezor.io/
โ๏ธ Ellipal -
https://www.ellipal.com/
โ๏ธ SafePal -
https://www.safepal.com/
โ๏ธ Ryder -
https://www.ryder.id/ ๐ป
This current market cycle is in full flow & more and more newcomers are coming into the industry, however that like feeding food for scam artists and it's now more important than ever to understand how to manage your wallets;
๐ณ What is a web3 wallet ๐ณ
A Web3 wallet is like a digital container for your online assets, allowing you to securely store & manage your cryptocurrencies & digital collectibles. Besides that, it allows you to interact with decentralized applications on the blockchain;
๐ณ What are the key differences between a traditional crypto wallet and a web3 wallet ๐ณ
A traditional cryptocurrency wallet is soley used has a digital vault for your assets, only allowing the functions of sending or recieving assets within the application.
Where a web3 wallet differs, it allows you to explore the decentralised web3 landscape and explore sectors like DeFi and Gaming, giving you a plethora of opportunities to explore, interact and learn;
๐ณ What are the different types of web3 wallets ๐ณ
There are two main types of web3 wallet:
๐ฅ Hot Wallet ๐ฅ
A hot wallet is simply a wallet that is available online, whether that's through a desktop, web and/or mobile application, this type of wallet is best for everyday activities, however this type of wallet is more sceptical to security threats;
โซ๏ธ Examples of Hot Wallets โซ๏ธ
๐ฅ Metamask - https://metamask.io/
๐ฅ Trust Wallet - https://trustwallet.com/
๐ฅ Phantom Wallet -
https://phantom.app/
๐ฅ Exodus Wallet -
https://exodus.com/
๐ฅ OKX Wallet -
https://www.okx.com/web3
โ๏ธ Cold Wallets โ๏ธ
A cold wallet is a physical hardware device which is offline, much less risk of being attacked and only used to store and transfer assets and suitable for substantial amounts of assets to be stored;
โซ๏ธ Examples of Cold Wallets โซ๏ธ
โ๏ธ Ledger - https://www.ledger.com/
โ๏ธ Trezor -
https://trezor.io/
โ๏ธ Ellipal -
https://www.ellipal.com/
โ๏ธ SafePal -
https://www.safepal.com/
โ๏ธ Ryder -
https://www.ryder.id/ ๐ป
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๐ณ web3 wallet Public, Private Keys, Seedphrases and Security Tips ๐ณ
Web3 wallets enable digital identity, providing users with a unique set of cryptographic keys known as a โprivate keyโ and a โpublic keyโ that are used to prove ownership and control of digital assets.
โซ๏ธ What is a web3 wallet Public Key & Private Key โซ๏ธ
A public key is a piece of information that is used to prove that a transaction was signed by the owner of a digital asset. It is used to verify the authenticity of transactions and can be shared publicly;
A private key is a secret piece of information that is used to prove ownership of digital assets. It is used to sign transactions that are sent to the blockchain, and it is only known to the owner of the digital assets;
โซ๏ธ What is a web3 wallet Seedphrase/Secret Recovery Phraseโซ๏ธ
A seedphrase, also known as your wallet's secret recovery phrase or mnemonic phrase, is a list of words that act as a master key to your digital wallet. This 12 word seed phrase generates and provides access to your private keys. This means that anyone with the recovery phrase also controls your crypto assets;
๐ณ web3 wallet Security Tips ๐ณ
โซ๏ธ Regularly updating wallet software/app
โซ๏ธ Using Strong and Unique passwords
โซ๏ธActivating Two Factor Authentication (2FA)
โซ๏ธ Recogning Phishing attempts and avoiding scams
โซ๏ธ Utilising hardware wallets for long term storage
โซ๏ธ Storing backups of Wallet Data in secure locations
โซ๏ธ Never EVER share your seedphrase with ANYONE
โซ๏ธ Diversify your wallets
โซ๏ธ NEVER download files sent from a stranger
โซ๏ธ Be wary of social media direct messages
โซ๏ธ Remove unnecessary browser extensions
โซ๏ธ NEVER reuse passwords
โซ๏ธ Watch out for Fake NFT collections
โซ๏ธ Don't respond to unsolicited DMs
โซ๏ธSpotting and avoiding web3 scams ๐ป
Web3 wallets enable digital identity, providing users with a unique set of cryptographic keys known as a โprivate keyโ and a โpublic keyโ that are used to prove ownership and control of digital assets.
โซ๏ธ What is a web3 wallet Public Key & Private Key โซ๏ธ
A public key is a piece of information that is used to prove that a transaction was signed by the owner of a digital asset. It is used to verify the authenticity of transactions and can be shared publicly;
A private key is a secret piece of information that is used to prove ownership of digital assets. It is used to sign transactions that are sent to the blockchain, and it is only known to the owner of the digital assets;
โซ๏ธ What is a web3 wallet Seedphrase/Secret Recovery Phraseโซ๏ธ
A seedphrase, also known as your wallet's secret recovery phrase or mnemonic phrase, is a list of words that act as a master key to your digital wallet. This 12 word seed phrase generates and provides access to your private keys. This means that anyone with the recovery phrase also controls your crypto assets;
๐ณ web3 wallet Security Tips ๐ณ
โซ๏ธ Regularly updating wallet software/app
โซ๏ธ Using Strong and Unique passwords
โซ๏ธActivating Two Factor Authentication (2FA)
โซ๏ธ Recogning Phishing attempts and avoiding scams
โซ๏ธ Utilising hardware wallets for long term storage
โซ๏ธ Storing backups of Wallet Data in secure locations
โซ๏ธ Never EVER share your seedphrase with ANYONE
โซ๏ธ Diversify your wallets
โซ๏ธ NEVER download files sent from a stranger
โซ๏ธ Be wary of social media direct messages
โซ๏ธ Remove unnecessary browser extensions
โซ๏ธ NEVER reuse passwords
โซ๏ธ Watch out for Fake NFT collections
โซ๏ธ Don't respond to unsolicited DMs
โซ๏ธSpotting and avoiding web3 scams ๐ป
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๐ก This ends Part 1 of Wallet Management, Part 2 will be coming tonight introducing you all to recommendations of wallet management practices and the browser extensions to use to keep your web3 wallet as safe as it possibly can be ๐ก
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โธ The Fundermentals of web3 Wallet Management Part 2 โธ
Now you've all had the introduction into web3 wallet management and understand the different types and keys involved, it's now time to share recommendations on how to setup and manage your web3 wallets and create a strategy;
๐ฅ Hot Wallet Setup ๐ฅ
โซ๏ธTwo multichain wallets for OnChain activities
โซ๏ธRequired blockchain wallets to complete testnet activities over multiple chains
โซ๏ธOne wallet for trading activities only if required
Whether you use Metamask, Trust Wallet or another web3 wallet of your choosing, having this setup enables you to be flexible and safe when exploring the web3 decentralized landscape;
โซ๏ธYour first hot wallet will act as a daily wallet, this wallet is the one you use daily to interact with decentralized applications and have enough assets in this wallet to do so, this wallet could also become your main NFT wallet, if that sector is of interest to you;
โซ๏ธYour second hot wallet will act as a your web3 asset portfolio, whether your preparing to sell assets or dollar-cost averaging into assets, this is where you can build your portfolio for a market cycle;
โซ๏ธI have been gradually introducing you all to the process of testnets, the requirements and actions you all need to take to have the best possible experience. With testnets across the industry, you'll need to be flexible and select wallets which would successfully work with the testnet in question your whilling to test for any particular project;
โซ๏ธIf you trade assets whether that's using a centralised exchange for example being Binance or Kucoin and/or using a decentralised exchange for example being Uniswap or Pancake Swap, it's advised to have a seperate wallet to trade with, so you know when you log into that wallet, your going to trade and nothing else, which keeps you more organised knowing which of your wallets you want to use at any given time;
โ๏ธ Cold Wallet Setup โ๏ธ
โซ๏ธ One Cold Wallet where your long-term portfolio assets will reside
โซ๏ธ One Cold Wallet soley for backup purposes
Ledger to Trezor, cold wallets are offline and advise not to connect with dapps as that defeats the purpose of what a cold wallet is there to provide, an extra layer of security giving you peace of mind that your assets are as safe as they can be;
Each cold wallet manufacturer vary from the features the wallet provides, an example would be if a wallet having bluetooth technology and/or a touchscreen, to the assets the wallet supports as not all cold wallets support the same assets and its always best to check in advance what assets the wallet supports before investing into cold wallets;
Lastly on this topic, cold wallets vary from the latest technologies which are involved to build the devices, this includes encryption models, security chips and form factor. When you look to purchase a cold wallet, the secure element level is shown as EAL plus a number and to give you an idea, in the financial sector products used EAL4+ and EAL5+ are commonly used, however EAL6+ is military grade and the best on the retail market currently;
๐ณ Recommended web3 wallet research ๐ณ
Imkey Security Chip Guide:
https://imkey.im/ko/blogs/why-choose-imkey/what-is-the-security-chip-used-in-hardware-wallets
web3 Wallet Growth Report 2030:
https://www.grandviewresearch.com/industry-analysis/crypto-wallet-market-report
How to Create a web3 Wallet Guide:
https://www.investopedia.com/how-to-create-a-crypto-wallet-7500574
web3 safety Guide 2024:
https://www.security.org/digital-security/crypto/
Now you've all had the introduction into web3 wallet management and understand the different types and keys involved, it's now time to share recommendations on how to setup and manage your web3 wallets and create a strategy;
๐ฅ Hot Wallet Setup ๐ฅ
โซ๏ธTwo multichain wallets for OnChain activities
โซ๏ธRequired blockchain wallets to complete testnet activities over multiple chains
โซ๏ธOne wallet for trading activities only if required
Whether you use Metamask, Trust Wallet or another web3 wallet of your choosing, having this setup enables you to be flexible and safe when exploring the web3 decentralized landscape;
โซ๏ธYour first hot wallet will act as a daily wallet, this wallet is the one you use daily to interact with decentralized applications and have enough assets in this wallet to do so, this wallet could also become your main NFT wallet, if that sector is of interest to you;
โซ๏ธYour second hot wallet will act as a your web3 asset portfolio, whether your preparing to sell assets or dollar-cost averaging into assets, this is where you can build your portfolio for a market cycle;
โซ๏ธI have been gradually introducing you all to the process of testnets, the requirements and actions you all need to take to have the best possible experience. With testnets across the industry, you'll need to be flexible and select wallets which would successfully work with the testnet in question your whilling to test for any particular project;
โซ๏ธIf you trade assets whether that's using a centralised exchange for example being Binance or Kucoin and/or using a decentralised exchange for example being Uniswap or Pancake Swap, it's advised to have a seperate wallet to trade with, so you know when you log into that wallet, your going to trade and nothing else, which keeps you more organised knowing which of your wallets you want to use at any given time;
โ๏ธ Cold Wallet Setup โ๏ธ
โซ๏ธ One Cold Wallet where your long-term portfolio assets will reside
โซ๏ธ One Cold Wallet soley for backup purposes
Ledger to Trezor, cold wallets are offline and advise not to connect with dapps as that defeats the purpose of what a cold wallet is there to provide, an extra layer of security giving you peace of mind that your assets are as safe as they can be;
Each cold wallet manufacturer vary from the features the wallet provides, an example would be if a wallet having bluetooth technology and/or a touchscreen, to the assets the wallet supports as not all cold wallets support the same assets and its always best to check in advance what assets the wallet supports before investing into cold wallets;
Lastly on this topic, cold wallets vary from the latest technologies which are involved to build the devices, this includes encryption models, security chips and form factor. When you look to purchase a cold wallet, the secure element level is shown as EAL plus a number and to give you an idea, in the financial sector products used EAL4+ and EAL5+ are commonly used, however EAL6+ is military grade and the best on the retail market currently;
๐ณ Recommended web3 wallet research ๐ณ
Imkey Security Chip Guide:
https://imkey.im/ko/blogs/why-choose-imkey/what-is-the-security-chip-used-in-hardware-wallets
web3 Wallet Growth Report 2030:
https://www.grandviewresearch.com/industry-analysis/crypto-wallet-market-report
How to Create a web3 Wallet Guide:
https://www.investopedia.com/how-to-create-a-crypto-wallet-7500574
web3 safety Guide 2024:
https://www.security.org/digital-security/crypto/
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๐ก Part 3 of the Wallet Management is coming tonight, reason for 3 parts as there is so much information to share and I need to make sure I cover all basis. Upcoming topic will focus on web3 browser extensions and tools which adds another layer of security to help avoid phishing/scams in the industry ๐ก
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โธ The Fundermentals of web3 Wallet Management Part 3 โธ
We have gone through types of wallets, what crypto keys are and recommend web3 wallet setups with hot and cold wallets respectively. In part 3 we are now going to explore web3 browser extensions and tools to make your web3 experience safer and more informed when exploring and interacting in the web3 landscape;
๐ Forta Protocol $FORT ๐
Forta is the โreal-time monitoring layerโ in the Web3 tech stack. The Network is comprised of two primary components - detection bots and scan nodes;
Action:
Go to https://app.forta.network I would recommend on a weekly basis, navigating to Alerts, brings you to the Explorer and check your wallet to if your address is safe;
๐ Pocket Universe Browser Extension ๐
Pocket Universe is a free browser extension that protects you from web3 scams;
Action:
Go to the one of the following links below to install the browser extension to stay one step ahead of the scam artists:
๐Google Chrome/Any Chromium based Browser:
https://chrome.google.com/webstore/detail/pocket-universe/gacgndbocaddlemdiaadajmlggabdeod
๐ Firefox/Any Firefox based Browser:
https://addons.mozilla.org/en-US/firefox/addon/pocketuniverse/
๐ Aegis web3 Browser Extension ๐
AegisWeb3 claims to have identified over 170,000 malicious websites to date through an average of one million daily scans in real-time;
Action:
Go to the following link below to install this extension & have real-time monitoring:
https://chrome.google.com/webstore/detail/aegisweb3/dakkielolpafjbgnjnakddabmbbkcioe
๐ Rabby Wallet ๐
Rabby Wallet is an open source browser plugin for the DeFi ecosystem, providing users with a better-to-use & more secure multi-chain experience;
Action:
Go to the following link below to install the extension:
https://chrome.google.com/webstore/detail/rabby-wallet/acmacodkjbdgmoleebolmdjonilkdbch
Once you've linked your web3 wallet, go to 'Rabby Points' and type in the code X01 to get an extra 100 points, more you use the wallet, more points you get
We have gone through types of wallets, what crypto keys are and recommend web3 wallet setups with hot and cold wallets respectively. In part 3 we are now going to explore web3 browser extensions and tools to make your web3 experience safer and more informed when exploring and interacting in the web3 landscape;
๐ Forta Protocol $FORT ๐
Forta is the โreal-time monitoring layerโ in the Web3 tech stack. The Network is comprised of two primary components - detection bots and scan nodes;
Action:
Go to https://app.forta.network I would recommend on a weekly basis, navigating to Alerts, brings you to the Explorer and check your wallet to if your address is safe;
๐ Pocket Universe Browser Extension ๐
Pocket Universe is a free browser extension that protects you from web3 scams;
Action:
Go to the one of the following links below to install the browser extension to stay one step ahead of the scam artists:
๐Google Chrome/Any Chromium based Browser:
https://chrome.google.com/webstore/detail/pocket-universe/gacgndbocaddlemdiaadajmlggabdeod
๐ Firefox/Any Firefox based Browser:
https://addons.mozilla.org/en-US/firefox/addon/pocketuniverse/
๐ Aegis web3 Browser Extension ๐
AegisWeb3 claims to have identified over 170,000 malicious websites to date through an average of one million daily scans in real-time;
Action:
Go to the following link below to install this extension & have real-time monitoring:
https://chrome.google.com/webstore/detail/aegisweb3/dakkielolpafjbgnjnakddabmbbkcioe
๐ Rabby Wallet ๐
Rabby Wallet is an open source browser plugin for the DeFi ecosystem, providing users with a better-to-use & more secure multi-chain experience;
Action:
Go to the following link below to install the extension:
https://chrome.google.com/webstore/detail/rabby-wallet/acmacodkjbdgmoleebolmdjonilkdbch
Once you've linked your web3 wallet, go to 'Rabby Points' and type in the code X01 to get an extra 100 points, more you use the wallet, more points you get
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