https://quest.ledger.com/quests/welcome-to-web3 - WELCOME TO WEB3

NFTs are one category of digital assets. How exactly would you define an NFT? A unique, non-fungible asset that exists as a token on the blockchain.

Blockchains are the underlying infrastructure for Web 3.0. What access and benefits does Web 3.0 hold for you? Web 3.0 enables ownership of your digital assets without the need for an intermediary.

Which of the following is not true? You can get physical cryptocurrencies from crypto issuance machines.

Bitcoin is a first-generation blockchain. What is its main purpose? To allow you to make transfers of value, without using a bank or central entity.

You have transferred 1 Bitcoin to your friend. Who can view your transaction’s details? Anyone can view it, it’s public.

Your cryptocurrency is stored on the blockchain. Aside from being a unit of value, what other function do they serve? It allows you to interact with the platforms and services built on a given blockchain network.

Web 3.0 means you don’t need to rely on banks or intermediaries to access and store your wealth. But without banks - where is your crypto actually stored? On the blockchain.

How can you be sure that transactions on a blockchain are valid and correct? The network nodes must reach consensus before adding new data.

If we had first-generation blockchain networks, why was there a need for second-generation blockchain networks? Innovation, other blockchain introduced the concept of value transfer with conditions: smart contracts.

Which of the below most accurately describes what a public blockchain is? A distributed ledger with immutable history, that’s accessible and auditable by everyone.

How many different cryptocurrencies are there? Thousands, across multiple blockchains, comprising multiple types of coin and token.

Once your data is recorded on the blockchain, who from the following can change or update it? No single entity.

https://quest.ledger.com/quests/how-to-own-crypto - HOW TO OWN CRYPTO

Scammers can steal your crypto by accessing your private keys or recovery phrase. How can that be achieved?- All listed answers

What is a hardware wallet?- Wallets that generate and store private keys offline to keep them protected from hacks.

You have generated your private keys in a software wallet that runs on an internet connected device. Which of the following is a false statement?- Your keys will always remain secure since they are stored offline.

Exchange wallets are considered to be custodial wallets, what does it mean?
The exchange custodies your assets, it owns the private keys, you only get a username and password.

Which of the following recovery phrase statements is TRUE? Your recovery phrase can restore your keys on a multitude of devices and wallet providers.

One common crypto hack is for scammers to deploy malware to your device via a malicious link. This malware can search for your private key, but what else is it capable of? Tamper with your software wallet interface to trick you into sending assets to the wrong address.

What is the purpose of a crypto wallet? It generates your keys and helps you secure them.

Blind signing is one smart contract scam that gets you to “open the door” to your crypto, using clever social engineering. But why is it known as “blind signing”? Because it requires you to sign a transaction without knowing its details or repercussions.

What is a recovery phrase? A phrase generated by your wallet as a backup of all the private keys stored on it.

What are public and private keys? Public keys are your address on the blockchain, private keys allow you to control any assets sent to that address.

How should you store your recovery phrase?
Note it down, don’t show it to anyone, keep it offline and store it somewhere safe that’s fire/water proof.

Smart contracts offer a plethora of innovative use cases, but they also come with risks, what are they? Crypto wallets can’t always translate smart contracts’ data into a human readable language.

https://quest.ledger.com/quests/ledgers-ecosystem - LEDGER'S ECOSYSTEM

Why are Ledger devices considered to be the safest way to hold and manage cryptocurrencies? Ledger devices generate and secure your private keys offline, they’ve never been hacked.

What crypto services can be accessed via the apps on Ledger Live? All listed answers.

What is Ledger Live’s decentralized app (dApp) Catalog? A catalog of dApps providing different services that you can access and clear-sign from within the security of your Ledger.

Ledger protects your private keys from hacks thanks to a military grade security chip, called the “Secure Element”. Where are these chips commonly used? All answers listed.

If your Ledger gets lost or stolen, how can you be sure that your funds are safe? The device is protected by a PIN code, and will factory reset after three wrong attempts.

When you set up your new Ledger device, which piece of data is chosen by YOU? The PIN code.

In what way does Ledger ensure your recovery phrase is secure from the beginning? It generates and displays it on a trusted display.

What role does Ledger’s custom operating system, BOLOS, play in securing your assets? It isolates all the applications on the device from one another, which protects your private keys.

How can you authenticate transactions using your Ledger? Every transaction needs to be verified on the trusted display and physically confirmed.

What is the purpose of Ledger’s browser extension? All listed answers.

How does Ledger Live help secure your assets? By providing you with firmware updates and the ability to see essential transaction details before signing.

What is Ledger Live? It’s a companion app that helps you manage your assets and access a wide variety of crypto services.

https://quest.ledger.com/quests/web3-security-essentials - WEB3 SECURITY ESSENTIALS

How would you classify a cryptocurrency shill? Someone who advocates for a project because they’re receiving a payment or have a stake in it.

Which of the following data can you verify on Etherscan? Transaction history, token supply, distribution, project value and smart contract details.

Why is it important to understand the token distribution of a project during your research? To assess risks, if few people control the supply, they can manipulate the price.

How can you best use Twitter and Discord when doing your research? It allows you to get a feel of the team, the community and its overall engagement.

You just bought your first Ledger, how can you secure the crypto & NFTs that you already own?
Set up your new Ledger as a new device, in Ledger Live create new accounts, and send your assets to the new accounts.

Why does recovering your software wallet on your new Ledger device leave your crypto at risk? Your private keys were already exposed to internet connection - securing them on a Ledger will not protect your data from anyone who’s already accessed them.

What kind of scams are prevalent in the web3 space? All listed answers.

Which of the following are considered to be red flags to look out for when doing your own research (DYOR)? All listed answers.

Why is segregating assets across multiple accounts a highly recommended crypto security strategy? It enables you to mitigate risks associated with signing malicious transactions, a signature executed via one account does not impact the other ones.

Web3 is all about freedom, but with freedom comes responsibility. If you get scammed, how can you get your stolen crypto back? Unfortunately, you can’t.

What measures of precautions should you take to secure your assets if you are about to blind sign a transaction? All listed answers.

It is important to Do Your Own Research (DYOR) before buying into a project. Which of these are your best tools for DYOR? - Read the project’s whitepaper, analyze its activity on Etherscan, ask official team members and moderators on Discord and evaluate the answers and most importantly be patient.

https://quest.ledger.com/quests/welcome-to-web3 - WELCOME TO WEB3

NFTs are one category of digital assets. How exactly would you define an NFT? A unique, non-fungible asset that exists as a token on the blockchain.

Blockchains are the underlying infrastructure for Web 3.0. What access and benefits does Web 3.0 hold for you? Web 3.0 enables ownership of your digital assets without the need for an intermediary.

Which of the following is not true? You can get physical cryptocurrencies from crypto issuance machines.

Bitcoin is a first-generation blockchain. What is its main purpose? To allow you to make transfers of value, without using a bank or central entity.

You have transferred 1 Bitcoin to your friend. Who can view your transaction’s details? Anyone can view it, it’s public.

Your cryptocurrency is stored on the blockchain. Aside from being a unit of value, what other function do they serve? It allows you to interact with the platforms and services built on a given blockchain network.

Web 3.0 means you don’t need to rely on banks or intermediaries to access and store your wealth. But without banks - where is your crypto actually stored? On the blockchain.

How can you be sure that transactions on a blockchain are valid and correct? The network nodes must reach consensus before adding new data.

If we had first-generation blockchain networks, why was there a need for second-generation blockchain networks? Innovation, other blockchain introduced the concept of value transfer with conditions: smart contracts.

Which of the below most accurately describes what a public blockchain is? A distributed ledger with immutable history, that’s accessible and auditable by everyone.

How many different cryptocurrencies are there? Thousands, across multiple blockchains, comprising multiple types of coin and token.

Once your data is recorded on the blockchain, who from the following can change or update it? No single entity.

https://quest.ledger.com/quests/how-to-own-crypto - HOW TO OWN CRYPTO

Scammers can steal your crypto by accessing your private keys or recovery phrase. How can that be achieved?- All listed answers

What is a hardware wallet?- Wallets that generate and store private keys offline to keep them protected from hacks.

You have generated your private keys in a software wallet that runs on an internet connected device. Which of the following is a false statement?- Your keys will always remain secure since they are stored offline.

Exchange wallets are considered to be custodial wallets, what does it mean?
The exchange custodies your assets, it owns the private keys, you only get a username and password.

Which of the following recovery phrase statements is TRUE? Your recovery phrase can restore your keys on a multitude of devices and wallet providers.

One common crypto hack is for scammers to deploy malware to your device via a malicious link. This malware can search for your private key, but what else is it capable of? Tamper with your software wallet interface to trick you into sending assets to the wrong address.

What is the purpose of a crypto wallet? It generates your keys and helps you secure them.

Blind signing is one smart contract scam that gets you to “open the door” to your crypto, using clever social engineering. But why is it known as “blind signing”? Because it requires you to sign a transaction without knowing its details or repercussions.

What is a recovery phrase? A phrase generated by your wallet as a backup of all the private keys stored on it.

What are public and private keys? Public keys are your address on the blockchain, private keys allow you to control any assets sent to that address.

How should you store your recovery phrase?
Note it down, don’t show it to anyone, keep it offline and store it somewhere safe that’s fire/water proof.

Smart contracts offer a plethora of innovative use cases, but they also come with risks, what are they? Crypto wallets can’t always translate smart contracts’ data into a human readable language.

https://quest.ledger.com/quests/ledgers-ecosystem - LEDGER'S ECOSYSTEM

Why are Ledger devices considered to be the safest way to hold and manage cryptocurrencies? Ledger devices generate and secure your private keys offline, they’ve never been hacked.

What crypto services can be accessed via the apps on Ledger Live? All listed answers.

What is Ledger Live’s decentralized app (dApp) Catalog? A catalog of dApps providing different services that you can access and clear-sign from within the security of your Ledger.

Ledger protects your private keys from hacks thanks to a military grade security chip, called the “Secure Element”. Where are these chips commonly used? All answers listed.

If your Ledger gets lost or stolen, how can you be sure that your funds are safe? The device is protected by a PIN code, and will factory reset after three wrong attempts.

When you set up your new Ledger device, which piece of data is chosen by YOU? The PIN code.

In what way does Ledger ensure your recovery phrase is secure from the beginning? It generates and displays it on a trusted display.

What role does Ledger’s custom operating system, BOLOS, play in securing your assets? It isolates all the applications on the device from one another, which protects your private keys.

How can you authenticate transactions using your Ledger? Every transaction needs to be verified on the trusted display and physically confirmed.

What is the purpose of Ledger’s browser extension? All listed answers.

How does Ledger Live help secure your assets? By providing you with firmware updates and the ability to see essential transaction details before signing.

What is Ledger Live? It’s a companion app that helps you manage your assets and access a wide variety of crypto services.

https://quest.ledger.com/quests/web3-security-essentials - WEB3 SECURITY ESSENTIALS

How would you classify a cryptocurrency shill? Someone who advocates for a project because they’re receiving a payment or have a stake in it.

Which of the following data can you verify on Etherscan? Transaction history, token supply, distribution, project value and smart contract details.

Why is it important to understand the token distribution of a project during your research? To assess risks, if few people control the supply, they can manipulate the price.

How can you best use Twitter and Discord when doing your research? It allows you to get a feel of the team, the community and its overall engagement.

You just bought your first Ledger, how can you secure the crypto & NFTs that you already own?
Set up your new Ledger as a new device, in Ledger Live create new accounts, and send your assets to the new accounts.

Why does recovering your software wallet on your new Ledger device leave your crypto at risk? Your private keys were already exposed to internet connection - securing them on a Ledger will not protect your data from anyone who’s already accessed them.

What kind of scams are prevalent in the web3 space? All listed answers.

Which of the following are considered to be red flags to look out for when doing your own research (DYOR)? All listed answers.

Why is segregating assets across multiple accounts a highly recommended crypto security strategy? It enables you to mitigate risks associated with signing malicious transactions, a signature executed via one account does not impact the other ones.

Web3 is all about freedom, but with freedom comes responsibility. If you get scammed, how can you get your stolen crypto back? Unfortunately, you can’t.

What measures of precautions should you take to secure your assets if you are about to blind sign a transaction? All listed answers.

It is important to Do Your Own Research (DYOR) before buying into a project. Which of these are your best tools for DYOR? - Read the project’s whitepaper, analyze its activity on Etherscan, ask official team members and moderators on Discord and evaluate the answers and most importantly be patient.