๐ Crypto Trading Series โ Lesson 4: Wallets & Security
๐ First rule in crypto: โNot your keys, not your coins.โ
A wallet is where you store your crypto safely.
But unlike your physical wallet ๐, itโs digital and secured by private keys ๐.
๐ Whoever has your private keys = owns your crypto.
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โก Types of Wallets:
๐ป Hot Wallets (Online)
Apps like Binance Wallet or Trust Wallet.
Easy to access for trading & payments.
โ ๏ธ Risk: Connected to the internet โ hackers can attack.
Without following me you won't get the gift ๐
๐ Answer: thanks
๐ฆ Cold Wallets (Offline)
Hardware wallets (Ledger, Trezor) or even paper wallets.
Best for long-term holding (HODLing).
โ Safer since theyโre offline โ no hacker can touch them.
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๐ฏ Why Wallets Matter for Traders:
๐ Spot & Futures traders โ often use hot wallets for fast moves.
๐ก๏ธ Long-term investors โ prefer cold wallets for safety.
โ๏ธ Smart traders โ combine both depending on strategy.
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๐จ Security Tips Every Trader Must Follow:
โ๏ธ Enable 2FA (Google Authenticator > SMS).
โ๏ธ Never share your seed phrase (not even with โBinance supportโ).
โ๏ธ Avoid public WiFi when trading.
โ๏ธ Double-check URLs โ phishing sites look 99% real.
โ๏ธ Keep emotions in check โ scammers love greed & FOMO.
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๐ Example:
Imagine keeping $10,000 in your exchange account ๐ต.
If your password leaks โ hacker takes it all ๐ฌ.
But if it was in a cold wallet โ๏ธ โ untouchable.
Thatโs the difference between safety & regret.
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๐ก Pro Tip:
Treat your wallet like your bank vault ๐ฆ.
In crypto, if you lose access โ thereโs no โreset passwordโ button.
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