The world of cryptocurrency can be an exciting yet confusing place, especially for newcomers. To navigate this digital landscape effectively, you need to grasp the essential terminology. Whether you’re a beginner crypto enthusiast or an experienced trader, understanding these terms is crucial. Read on and we’ll cover the essential 25 crypto terms that you’re bound to encounter during your cryptocurrency journey! 1. Altcoin A term used to describe any cryptocurrency besides Bitcoin.
Have you ever heard of rug pulls and pig butchering? Stay one step ahead of scammers by educating yourself on how common crypto scams work in detail!
According to DeFi Security’s report, crypto hackers and scammers stole $452 million in the first quarter of 2023. Although this marks a significant decrease from $1.3 billion recorded in the same period of 2022, the recovery rate for the stolen funds has also declined.
Main Takeaways To invest in cryptocurrency securely, a reliable crypto wallet is essential for protecting against hackers. Wallacy Wallet, a non-custodial wallet, offers a safer option as it does not have control over users’ private keys or assets. By responsibly safeguarding your secret phrases, you can maintain complete ownership of your funds. With the rise in popularity of cryptocurrencies, it has become more important than ever to ensure the security of your digital assets.
💠 How to Input your friend’s Referral code Step 1: Go to the [More] section on the home screen, then click on [Referral]. Step 2: Here you are on the main page of the Referral section, you will see on top of the page a popup that guides you to fill in referral code. Click [INPUT NOW], then enter your friend’s referral code to the box.
💠 How to invite friends using Wallacy Step 1: Click on “More” section, then “Referral” tab.
The internet has become an integral aspect of our daily lives, utilized for various purposes such as work, leisure, and communication. World Wide Web has had a significant impact on society, revolutionizing the way we share and access information, creating new prospects for education and business, and bringing people together from diverse backgrounds. In that world, digital assets have become the new norm and crypto wallets like Wallacy are considered an essential tool for managing your investments.
Yes, Wallacy is a non-custodial wallet, also known as a self-custody wallet. This means that you have full control over your 12-word mnemonics (secret recovery phrase) and private keys. No one else can access or tamper with your wallet without your permission.
Have you ever heard this saying: “Not your keys, not your crypto”? With Wallacy, you’re the sole owner of your keys and your funds, so we advise you to establish a set of security measures to safeguard your assets and take full advantage of a non-custodial wallet.
This question gets asked quite a lot. The answer is “No”, Wallacy, and even other decentralized wallets, don’t hold your funds!
So why? An interesting truth is that your funds are completely not on the wallet app. They are actually located on the blockchain network itself. The app only enables you to access a wallet address and conduct transactions out of it by using your secret Recovery Phrase. In other words, Wallacy is just a bridge to the blockchain that it is connecting to.
Step 1: Select Wallet at the menu bar, which will take you to your wallet information screen.
Step 2: Select your desired network (default is BNB chain) in the top right corner, then select Defi Wallet. Click Add a Token to add the token to the wallet. Select the default token available or fill in the search bar on the screen.
Step 3.1: If the token is not among the most commonly used ones, the search function may fail to retrieve it.
Step 1: Select the Receive button on the screen
Step 2: Choose the asset you want to receive from another wallet by token name or contract address. Example: BUSD.
Step 3.1: Copy and send that wallet address to the sender to execute the receive command. Step 3.2: (Switch to the Request tab) You can also generate a QR code containing your Wallacy wallet address and the amount of tokens you want to receive, then share it with the sender.
Step 1: Tap the Send button on the home screen.
Step 2: Choose the asset that you want to send. For example: USDT Step 3: Fill in the receive wallet address and the amount of token you want to send.
You can save the wallet address to Address Book in order to use it later, or you can scan QR code to get the wallet address from others. Step 4: Now you’re presented with the estimated gas fees of your transaction, which you can also adjust.