There’s a saying in crypto that goes, “not your keys, not your crypto”. And this is 100% true. If you store your funds on an exchange like Coinbase, Gemini, Kraken, Binance, etc, your funds are not truly secure. Exchanges can be hacked. Exchanges can shut down your account and hold your funds if their algorithm flags you for “suspicious activity”. Exchanges can also turn off withdrawals in times of market turmoil.
Hardware wallets are a tool that generates your own private wallet and stores the keys to it for you. This allows you to be your own bank and have full control over your funds 24/7.
In this third class, we will dive deep into:
How to setup your wallet.
What is a seed phrase and what should you do with it?
How to install apps for different types of tokens you want to use.
How to find your public address.
How to send funds from your exchange to your public address.