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.

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.

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: Open Wallacy Wallet & click Create a New Wallet. Step 2: Set Pin Code Step 3: Generate and backup your mnemonics phrase (highly recommended) or skip and do it later. NOTE: Mnemonics is a 12-word phrase used to import or recover your wallet. Store them in a safe place, if you lose your mnemonics you won’t be able to log into your account and Wallacy can’t help you recover your crypto assets.