Many newbies enter the crypto space, and the first step is often to be called to register on exchanges, buy coins, join groups, or even a bunch of 'teachers' asking you to pay for 'unified management'. But do you know?

A true 'on-chain person' does not rush into an exchange as the first step, but rather: has their own wallet.

🧠 What exactly is a wallet?

In simple terms, a wallet is not a tool for storing money, but rather your 'identity + private key custodian' in the blockchain world.

  • Wallet = your household register on-chain, generating your address (public key), where others can send you funds.

  • Private key = the key to your safe; only you have it, and only then can you access your crypto assets.

  • Mnemonic phrase = the backup of your key, consisting of 12 or 24 words; once leaked, it’s equivalent to giving someone access to all your coins.

📌 Key points:

Wallets do not store coins; coins are always on-chain.

A wallet simply allows you to 'control those coins on-chain'.

🔐 Clarify wallet categories


Type Example Advantages Risks/Difficulties Software Wallets Little Fox (MetaMask), OKX Wallet, TP Wallet Free, suitable for beginners, convenient on mobile Requires manual saving of mnemonic phrases, easy to be scammed into importing fake wallets Hardware Wallets Ledger, Trezor Private keys are offline, extremely high security High cost, inconvenient for daily operations Multi-signature Wallet Gnosis Safe Suitable for teams/DAOs, safer funds Complex setup, unfriendly for beginners

🚨 The pitfalls that newbies are most likely to step into

  1. Taking a photo of your mnemonic phrase and sending it to others: many scammers will say 'help you recover your wallet' or 'upgrade the system', then trick you into giving them your mnemonic phrase. Once given, your assets are no longer yours.

  2. Downloading phishing apps: searching for 'Little Fox Wallet' could lead to a fake one. It's recommended to navigate from official websites or recommendations.

  3. Randomly signing browser requests: some phishing websites will entice you to 'connect wallet' or 'authorize', but in reality, they are making you sign a transfer authorization, which could empty your wallet.

✅ Practical advice: How to safely enter the chain

  • It is recommended for beginners to use: OKX wallet or TP wallet. Registration is simple, supports multiple chains, and the interface is more suitable for beginners.

  • After creating a wallet, write down the mnemonic phrase and store it safely. Do not take photos, screenshots, or share it with anyone.

  • Don't be in a hurry to transfer coins in; practice on the testnet first.

📣 Leave a little interactive Easter egg:

What kind of wallet are you using now? Why did you choose it?

Feel free to leave a message to chat about your first step on-chain, and you can also share your 'almost scammed experience' to warn newbies~


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