This section provides information on how to use and notes on the Web3 Wallet for handling crypto currency.
Please refer to the article for handling notes.
What is Web3 Wallet?
Web3 wallets enable users to utilise decentralised applications (dApps) and smart contracts on the Ethereum network.
Web3 wallets usually provide a user-friendly interface that allows users to easily utilise decentralised applications.
Popular Web3 wallets include MetaMask, Phantom wallet and Trust wallet.
Notes on the Web3 Wallet
When using the Web3 Wallet, there are a few things to be aware of.
The private key is not shared with third parties. This means that only you have access to your funds. It is therefore important to always back up your private key and store it in a safe place.
If you lose your private key, you will lose access to your wallet and will not be able to retrieve your funds if your device is lost, broken or stolen.
In addition, Web3 wallets are often used to store large amounts of crypto currency and are therefore a common target for hackers. Protect your device from phishing and viruses and ensure that no one knows your private key.
Web3 wallets are used in connection with decentralised applications (dApps); when connecting to dApps, there is a process of authorising the application to access the wallet.
This requires knowledge of tokens created for phishing and related phishing tactics.
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