Information you need or don't need about web 3 - 15
💥 The Biggest Losses in Crypto History Several major events have caused massive financial damage, shaken investor confidence, and reshaped the crypto landscape. Here are some of the most notable ones: 🔥 1. Mt. Gox Hack (2014) Loss: ~850,000 BTC (worth billions of dollars today) What happened? At the time, Mt. Gox was the largest Bitcoin exchange. It was hacked and eventually went bankrupt. Impact: A huge blow to trust in Bitcoin. Prices plummeted. 🔥 2. Terra / LUNA Collapse (2022) Loss: Be...
Information you need or don't need about web 3 - 1
BTC vs ETH Inflation Bitcoin (BTC) Maximum supply: 21 million BTC Current supply increase: Bitcoin block rewards (new BTC issuance) halve approximately every 4 years (“halving”) Annual supply increase as of 2025: Around 1.7% Inflation trend: Decreasing over time because block rewards diminish. By around 2140, all BTC will be mined, and inflation will approach 0% Ethereum (ETH) Maximum supply: Unlimited (theoretically no upper limit) Supply increase: With Ethereum 2.0 and EIP-1559, a “burn mec...
Information you need or don't need about web 3 - 11
90% of “Flash Loan” attacks are not hacks in the technical sense, but rather actions carried out within the rules of the smart contract system itself. --- 📌 What does this mean? A flash loan allows users to borrow funds without collateral as long as the loan is borrowed and repaid within the same transaction block. The system prevents funds from being withdrawn before the transaction is completed. However, malicious actors can exploit this mechanism by manipulating price feeds or market dyna...
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Information you need or don't need about web 3 - 15
💥 The Biggest Losses in Crypto History Several major events have caused massive financial damage, shaken investor confidence, and reshaped the crypto landscape. Here are some of the most notable ones: 🔥 1. Mt. Gox Hack (2014) Loss: ~850,000 BTC (worth billions of dollars today) What happened? At the time, Mt. Gox was the largest Bitcoin exchange. It was hacked and eventually went bankrupt. Impact: A huge blow to trust in Bitcoin. Prices plummeted. 🔥 2. Terra / LUNA Collapse (2022) Loss: Be...
Information you need or don't need about web 3 - 1
BTC vs ETH Inflation Bitcoin (BTC) Maximum supply: 21 million BTC Current supply increase: Bitcoin block rewards (new BTC issuance) halve approximately every 4 years (“halving”) Annual supply increase as of 2025: Around 1.7% Inflation trend: Decreasing over time because block rewards diminish. By around 2140, all BTC will be mined, and inflation will approach 0% Ethereum (ETH) Maximum supply: Unlimited (theoretically no upper limit) Supply increase: With Ethereum 2.0 and EIP-1559, a “burn mec...
Information you need or don't need about web 3 - 11
90% of “Flash Loan” attacks are not hacks in the technical sense, but rather actions carried out within the rules of the smart contract system itself. --- 📌 What does this mean? A flash loan allows users to borrow funds without collateral as long as the loan is borrowed and repaid within the same transaction block. The system prevents funds from being withdrawn before the transaction is completed. However, malicious actors can exploit this mechanism by manipulating price feeds or market dyna...
Web3 Wallets: Your Digital Identity, Vault, and Key
Some information might seem basic for those of us who’ve spent a lot of time in this space — but let’s not forget:
There was a time we asked, “What is MetaMask?”
There was a time we wondered, “What does bridging mean?”
And yes, there was a time we said, “What on earth is an NFT?”
That’s why it’s important to revisit the basics every now and then.
Let’s start with one of the most essential elements: wallets.
---
🧠 What Is a Web3 Wallet?
A Web3 wallet lets you store, send, and receive your crypto assets, NFTs, and other digital items — but it’s far more than a simple crypto wallet.
It’s your digital identity, your access key to decentralized apps (dApps), and your safe for value storage.
Popular examples include:
MetaMask
Phantom
Trust Wallet
Rainbow
Each supports different blockchains (Ethereum, Solana, BNB Chain, etc.), so choosing the right one depends on your needs.
---
🔐 Seed Phrase: The Master Key
When you create a wallet, you receive a 12- or 24-word seed phrase.
This phrase is your private key — it’s what allows you to recover your wallet on another device.
Important:
Never share it with anyone.
Don’t store it online (email, Google Drive, Notes, etc.).
Write it down on paper and keep it somewhere safe.
If you lose it, you lose access to everything — permanently.
---
💡 What Can You Do with a Web3 Wallet?
Use It as Your Identity
You don’t need an email and password to log in anymore. Your wallet is your login — safer and more private.
Store All Your Digital Assets
Beyond tokens, your wallet can hold NFTs, DAO memberships, and digital identities like ENS, Lens, or Unstoppable Domains.
Access dApps
From DeFi platforms (Uniswap, Aave) to games (Axie Infinity) and NFT marketplaces (OpenSea), your wallet is your gateway.
Vote in DAOs
Your tokens and NFTs can grant you governance rights in decentralized organizations.
---
⚠️ Common Mistakes
Saving your seed phrase as a screenshot
Downloading fake wallet extensions
Clicking “Connect” everywhere without checking
Making transactions on public Wi-Fi
Entering your private key on phishing sites
---
🛡 Extra Security Tips
Use a hardware wallet (Ledger, Trezor).
Install anti-phishing browser extensions.
Apply the two-wallet strategy:
Hot wallet: for daily use
Cold wallet: for long-term storage
Regularly review your token approvals (e.g., via revoke.cash).
---
🚀 Conclusion: The Key to Entering Web3
Your Web3 wallet isn’t just where you keep your money — it’s where your digital identity, governance power, and gateway to the decentralized web live.
Treat it with care. Set it up properly, store your keys securely, and stay alert — because your awareness is your strongest layer of protection in Web3.
Web3 Wallets: Your Digital Identity, Vault, and Key
Some information might seem basic for those of us who’ve spent a lot of time in this space — but let’s not forget:
There was a time we asked, “What is MetaMask?”
There was a time we wondered, “What does bridging mean?”
And yes, there was a time we said, “What on earth is an NFT?”
That’s why it’s important to revisit the basics every now and then.
Let’s start with one of the most essential elements: wallets.
---
🧠 What Is a Web3 Wallet?
A Web3 wallet lets you store, send, and receive your crypto assets, NFTs, and other digital items — but it’s far more than a simple crypto wallet.
It’s your digital identity, your access key to decentralized apps (dApps), and your safe for value storage.
Popular examples include:
MetaMask
Phantom
Trust Wallet
Rainbow
Each supports different blockchains (Ethereum, Solana, BNB Chain, etc.), so choosing the right one depends on your needs.
---
🔐 Seed Phrase: The Master Key
When you create a wallet, you receive a 12- or 24-word seed phrase.
This phrase is your private key — it’s what allows you to recover your wallet on another device.
Important:
Never share it with anyone.
Don’t store it online (email, Google Drive, Notes, etc.).
Write it down on paper and keep it somewhere safe.
If you lose it, you lose access to everything — permanently.
---
💡 What Can You Do with a Web3 Wallet?
Use It as Your Identity
You don’t need an email and password to log in anymore. Your wallet is your login — safer and more private.
Store All Your Digital Assets
Beyond tokens, your wallet can hold NFTs, DAO memberships, and digital identities like ENS, Lens, or Unstoppable Domains.
Access dApps
From DeFi platforms (Uniswap, Aave) to games (Axie Infinity) and NFT marketplaces (OpenSea), your wallet is your gateway.
Vote in DAOs
Your tokens and NFTs can grant you governance rights in decentralized organizations.
---
⚠️ Common Mistakes
Saving your seed phrase as a screenshot
Downloading fake wallet extensions
Clicking “Connect” everywhere without checking
Making transactions on public Wi-Fi
Entering your private key on phishing sites
---
🛡 Extra Security Tips
Use a hardware wallet (Ledger, Trezor).
Install anti-phishing browser extensions.
Apply the two-wallet strategy:
Hot wallet: for daily use
Cold wallet: for long-term storage
Regularly review your token approvals (e.g., via revoke.cash).
---
🚀 Conclusion: The Key to Entering Web3
Your Web3 wallet isn’t just where you keep your money — it’s where your digital identity, governance power, and gateway to the decentralized web live.
Treat it with care. Set it up properly, store your keys securely, and stay alert — because your awareness is your strongest layer of protection in Web3.
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