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Disclaimer: This newsletter is not financial advice. Always do your own research
This edition is sponsored ...
- 🙄 Web3TLDR Guide: "What The Heck Is A Wallet?!"
- 🤑 By Odin’s Beard! Sir Hopkins’ NFTs Sell Out Quick!
- 💳 Mastercard joins the Crypto Onboarding Process
- 💸 Altcoins that are flying right now (NFA)
Job of the week
AND NOW THE NEWS
Web3TLDR Guide: “What The Heck Is A Wallet?!”
Quick Facts and Tips For Understanding and Securing Crypto Wallets
*Reminder, this is not financial advice and I am not a financial advisor. Always do your own research when investing*
So I won’t waste your time with a detailed explanation of crypto wallets that can be found in a plethora of articles, such as this one. This is more of a guide on the important facts of crypto wallets and when needing to explain to “family, friends or other non-believers”, otherwise known as FFNB’s from here on. So buckle up, this hopefully won’t be a drag at all:
FFNB: “What The Heck Is A Wallet?!”
Your Response : Ugh, a digital crypto wallet:
- Is like a “storage container” where all of your crypto coins and tokens (like cash and coins), and NFTs (like pictures) can be stored on a blockchain (like Google Drive or iCloud but can last forever; does not need an entity like Google or Apple to be in existence for it to continue to be accessed publicly¹)
- ¹Blockchains are considered active as long as a minimum of one node is on and active
FFNB: “How Do I Access My Wallet?!”
Your Response : Shoot me now, to access a digital crypto wallet:
- You need to know your wallet address (like your street address, but can never be changed)- Ex. 0x00abc43kdaf4539nf
- You can use many wallet providers (apps that allow you to view your wallet on the blockchain) to interact with the blockchain- Ex. MetaMask, Exodus, Coinbase Wallet, etc
- A single digital wallet address is accessible via either private key (long and permanent alphanumeric password)- Ex. afdfd9c3d2095ef696594f6cedcae59e72dcd697e2a7521b1578140422a4
- It can also be accessible via a 12 or 24 word secret phrase (long and permanent phrase of random words)- Ex. battery clone horse daytime ever bottle down glass phone towel wood remote
- Anyone with either of those pieces of information can get a hold of the assets inside the wallet (like someone stealing a credit card number)
- Although one private key resolves to one wallet address, a secret phrase actually creates a portfolio of wallets (one or more wallets within the same secret phrase)
- Every new wallet address that is “created” can be restored again with the secret phrase
FFNB: “How Do I Secure My Wallet?!”
Your Response : For the love of God, to secure a digital crypto wallet:
- Do Not Tell Anyone Your Secret Phrase Or Private Key!- Might as well tattoo it on your forehead if you’re going to tell the neighborhood about it.
- Write Down Your Secret Phrase Or Private Key And Store It In A Safe Place!- Keeping it in a notebook in a drawer doesn’t count. Keeping it in a safe is better.
- Consider Using A Hardware Wallet Like Trezor Or Ledger!- Here is a no-brainer, it’s not fool-proof, but can be close enough when used minimally and safely.
Any other tips? Reply or DM!
Written by: nikethereum.eth / Medium / Mirror
By Odin’s Beard! Sir Hopkins’ NFTs Sell Out Quick!
Sir Anthony Hopkins has been part of a long list of Hollywood blockbusters such as Silence of the Lambs and Thor, and now has added a new notch in his belt, NFT collections. In collaboration with an NFT and Web3-focused agency called Orange Comet, Inc., they created 1,000 original cinematic art pieces inspired by different scenes and performances from his career. Although Orange Comet claims the collection was the fastest sellout in OpenSea’s history, it has not been proven at the time of this article’s publication.
THE ETERNAL COLLECTION SOLD OUT IN LESS THAN 7 MINUTES 🎭
THE FASTEST SELL OUT IN @opensea HISTORY 😮💨
Thank you @AnthonyHopkins✌🏽
— Orange Comet (@OrangeCometNFT)
Oct 13, 2022
Thank you, everyone. I woke up this morning to this news, and I still can’t believe it. 🧑🏼🚀
#TheEternalCollection
@opensea@OrangeCometNFT@InnerCityArtstwitter.com/orangecometnft…— AHopkins.eth (@AnthonyHopkins)
Oct 14, 2022
Yes, it is nice to see an actor sell a collection so quickly when one might have also thought to have been “too old” to be involved with NFT’s. Good for him!
And yes, it has been a VERY slow news week….
Written by: nikethereum.eth / Medium / Mirror
This Issue Sponsored by Nerm
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Mastercard joins the Crypto Onboarding Process
Mastercard wants to make crypto accessible to the masses by allowing banks to participate in it. On Monday, Mastercard will announce a program that will assist banks in introducing crypto trading, according to Bloomberg.
In addition to providing cryptocurrency trading services, Mastercard will act as a “bridge” between existing crypto trading platform Paxos and financial institutions, according to the company.
Banks can handle compliance and security issues to make crypto trading possible, according to Mastercard. However, this has been met with some opposition. Banks have lost billions in hacks and high-profile bankruptcies since January in addition to suffering billions in hacks. Cryptocurrencies like bitcoin are known for their volatility, and the world's top digital assets have lost nearly half of their value this year.
Written by: WarBiscuitNFT
Altcoins that are flying right now (NFA)
Some coins don't give a #@ about your bear market. Here are 3 coins making a run despite the market down turn. Not financial Advice...just some interesting share!
ENS
Ethereum Name Service (ENS) is a distributed, open, and extensible naming system based on the Ethereum blockchain. ENS converts human-readable Ethereum addresses like john.eth into the machine-readable alphanumeric codes you know from wallets like Metamask. The reverse conversion -- associating metadata and machine-readable addresses with human-readable Ethereum addresses -- is also possible.
MKR
Maker (MKR) is the governance token of the MakerDAO and Maker Protocol — respectively a decentralized organization and a software platform, both based on the Ethereum blockchain — that allows users to issue and manage the DAI stablecoin.
QNT
Quant launched in June 2018 with the goal of connecting blockchains and networks on a global scale, without reducing the efficiency and interoperability of the network. It is the first project to solve the interoperability problem through the creation of the first blockchain operating system.
One Last Thing...
Monday coming in fast...
Accountants when their crypto clients call
— Alan Carroll (@alancarroII)
Oct 17, 2022
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