Crypto wallet & Responsibilities

I think I totally understand the term decentralisation now, because you get to control your assets yourself and be completely responsible for whatever happens to your wallet. This is what it feels like using my metamask today, I was solely responsible for the links I clicked and the things I did with the wallet. I have explored the binance platform, it is very complex, but you can’t use it to connect to dapps. Dapps are decentralised apps, which is something new I learnt today. They are apps, that we connect to our decentralised wallets like metamask or trust wallet, thereby giving these apps(website) power to access and perform transactions, then I understood how crypto responsibility works.

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Using the binance app, you can’t connect your binance app to a app and make a transaction, this way your wallet is quite safe from clicking phishing links that might get your wallet hacked. The fact that you are using a decentralised wallet like metamask doesn’t mean you can go around clicking links and approving transactions. you need to be sure that you are clicking on safe sites and not phishing sites and this will entail being patient and not rushing into clicking any site. First of all, dont forget to save your seed phrase, sadly there is no forgot password option where you get a new password if you lose your password. So look for a safe place to save it. Do not share your seed phrase with everyone, or anyone, because, this will give them access to your wallet, and when they have access to your wallet they can steal and take your money. So setting your priorities and being responsible is the best way to protect your wallet. Hive is great because we also have our wallets on our social media platform, so protecting our seed phrase, means we are protecting everything.

Posted Using LeoFinance Alpha