Cryptocurrency Wallets and How To Use Them

Welcome to Quidax Academy, where your brain is your wallet and we keep it loaded with knowledge.

And speaking of wallet, today, we are introducing you to crypto wallets and how to use them.

Your crypto needs a safe spot and that’s where crypto wallets come in!

A cryptocurrency wallet is like a digital bank account but cooler. It holds the “keys” you need to access and use your money. And just like in the real world, there are two types of keys: private or public keys. Public Keys are like your bank account number. You can share it with others to receive funds. A Private Key is your PIN or password. You can’t share that so you have to keep it secure because it’s how you access your money.

Watch video above for full lesson.

Scammers and hackers never sleep, so neither should your security. Use strong passwords, enable 2FA, avoid sketchy links, and store your seed phrase like your life savings depend on it.

1. Use Hardware Wallets
   Keep your keys offline for maximum security. Pro Tip: If it’s not connected to the internet, it can’t be hacked. Simple.
   
   
2. Enable Two-Factor Authentication (2FA)
   No 2FA? You’re basically leaving your front door wide open. Add an extra layer of protection when logging in
   
   
3. Use Strong Passwords
   If your password is “password” or “qu1dax123,” you might as well hand your wallet to scammers with a thank-you note. Avoid weak passwords and use a password manager if you can’t remember complex passwords (because let’s be honest, no one can).
   
   
4. Backup Your Seed Phrase
   Your seed phrase is like the spare key to your house. Store your recovery key in a safe place. Do not Screenshot it, Store it in Google Drive or iCloud and Share it with anyone, including “tech support” scammers
   
   
5. Beware of Phishing Attacks
   Don’t click on suspicious links or share your private keys. Golden Rule: If it sounds too good to be true, it’s a scam.
   
   
6. Diversify Your Assets
   Imagine putting all your money in one handbag and then leaving it in a bus. Tragic. Use multiple wallets to reduce risks.