All You Need to Know About Crypto Wallets  Beginners Guide  Blum Academy #blum #crypto #airdrop #bitcoin - video Dailymotion

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All You Need to Know About Crypto Wallets  Beginners Guide  Blum Academy #blum #crypto #airdrop #bitcoin

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00:00Hello friends, today we're diving into the fascinating history and evolution of cryptocurrency

00:09wallets.

00:10How did the first crypto wallets come into existence?

00:13How have they developed over time?

00:15And what innovations can we expect in the future?

00:17Let's find out together.

00:20The history of cryptocurrency wallets begins with the birth of the first cryptocurrency

00:24Bitcoin.

00:25In 2009, Satoshi Nakamoto released the first Bitcoin wallet as part of the original Bitcoin

00:32client.

00:33This wallet was made up of software that could generate Bitcoin addresses, manage keys and

00:36conduct transactions.

00:38Early wallets were quite basic and geared towards technically savvy users.

00:42They required installing software on a computer and were vulnerable to attacks and data loss.

00:48As Bitcoin's popularity grew, new types of wallets emerged, which became more convenient

00:54and secure.

00:55Software wallets became available for various operating systems and devices, including mobile

00:59apps.

01:00This allowed users to store and manage their cryptocurrencies directly from their smartphones.

01:07There are two main types of wallets, hot and cold.

01:11Hot wallets are connected to the internet and are convenient for daily transactions,

01:15but they are less secure due to higher risk of hacking.

01:18Cold wallets are not connected to the internet and therefore more secure, but less convenient

01:23for frequent operations.

01:25Hot wallets include mobile and web wallets such as MetaMask and TrustWallet.

01:30They allow quick and easy transactions but require caution when storing large amounts.

01:34Web wallets provide access to blockchains through a browser interface and are often

01:38used for exchanges and other browser-based wallets.

01:41However, many web wallets store and manage your private keys, which can be less secure.

01:47Cold wallets, such as hardware wallets and paper wallets, are ideal for long-term storage

01:52of large amounts of cryptocurrency.

01:54Hardware wallets are electronic devices that generate public and private keys and store

01:58them offline.

01:59This ensures a high level of security by isolating them from online threats.

02:03Paper wallets are physical printouts of addresses and private keys, which provide protection

02:07from online attacks but require careful handling and secure storage.

02:12Choosing the best crypto wallet depends on the specific needs and preferences of the

02:15user.

02:16For example, the best Bitcoin wallet may differ from the one intended for storing Ethereum-based

02:21assets.

02:22It is also important to ensure that the wallet supports the required blockchain network in

02:25order to avoid usage issues.

02:29As for Bloom, we also believe that storing funds on exchanges can be ambiguous.

02:33I'm not just talking about certain restrictions or dirty crypto.

02:38Of course, you shouldn't even encounter that at all.

02:40I mean that you should be the owners of your cryptocurrency.

02:43Therefore, Bloom is integrating a solution called MPC Wallet.

02:48MPC multi-party computation wallets provide a high level of security, allowing users to

02:52have full control over their funds.

02:55The keys are stored with three different caretakers, the user, the exchange, and an external provider.

03:02This allows the wallet to be recovered in case part of the data is lost.

03:07The advantages of MPC wallets are that your funds remain under your control and only you

03:12can initiate transactions.

03:14If you forget part of the phrase, you can recover the wallet without the exchange having

03:17access to your assets.

03:20Bloom will also allow you to link your existing wallets such as Metamask and Trust Wallet.

03:26Metamask is a popular cryptocurrency wallet available as a browser extension and a mobile

03:30app for iOS and Android devices.

03:33Trust Wallet is a mobile wallet for iOS and Android that allows you to securely store

03:37and manage your cryptocurrencies.

03:39It supports many blockchains and tokens.

03:42Installing and setting up Metamask and Trust Wallet is quite simple and straightforward.

03:46Visit the official website or download the app from the App Store or Google Play, create

03:51a new wallet, set a strong password, and save the seed phrase.

03:54This process is intuitive and takes only a few minutes.

03:57These wallets allow you to manage your assets directly without needing to transfer them

04:01to an exchange, ensuring greater security and control over your funds.

04:05In the world of cryptocurrencies, security is essential and it is important to know how

04:09to protect your funds against hackers and losses.

04:12Let's look at the main threats each of you might face.

04:15Phishing is a method where attackers try to obtain your personal data by pretending

04:19to be trustworthy sources such as media personalities or representatives of a company.

04:24How can you recognize phishing?

04:26Check the URL, make sure the website address is correct and starts with HTTPS//SPELLINGERRORS.

04:33Pay attention to spelling errors in names and unusual requests in emails and messages.

04:37Verify the source.

04:39If you receive an email or message from a supposedly known source asking for personal

04:43data, contact the source directly using contact information from their official website to

04:47verify if the message is authentic.

04:50Scammers use various tricks to trick you and steal your cryptocurrencies.

04:54Be cautious of offers that seem too good to be true.

04:57Avoid interacting with strangers or companies that are offering investment opportunities.

05:02Always verify information with multiple sources before making a decision.

05:06If you find free tokens on your cryptocurrency wallet that you didn't send yourself, it could

05:09be an attempt at fraud.

05:11These tokens might be a scam and could lead to the theft of your funds.

05:14Here's what to do if you find tokens like this.

05:17Do not interact with the tokens.

05:19Do not attempt to send, sell or exchange these tokens.

05:22Any interaction with them could give attackers access to your wallet.

05:27Check the token contract.

05:28If the token is a scam, you might find information and warnings from other users.

05:32Use a whitelist.

05:33Some wallets and apps allow you to set up a whitelist for tokens you want to see.

05:36This can help hide suspicious tokens and prevent accidental interactions.

05:40Update your wallet security.

05:42Make sure your wallet is secured with multi-factor authentication and other security measures.

05:47If you feel your current wallet might be compromised, create a new wallet and transfer your valid

05:51assets there, excluding the suspicious tokens.

05:55If you are unsure of your actions, seek help from professionals or the support service

05:59of your wallet or exchange provider.

06:01Now that we know about the main threats, let's talk about security measures, including within

06:06the Bloom project.

06:07Bloom does not request any personal data from its users, minimizing the risk of data leakage.

06:12Bloom employees never initiate contact with users.

06:15If you receive a message supposedly from a Bloom representative, be cautious.

06:19Do not follow any links received and do not share your data with the sender.

06:24Within the Bloom app, we use advanced technologies to protect data and prevent unauthorized access.

06:30Regular updates and security checks help us maintain a high level of protection.

06:34Here are some additional tips to help you protect your cryptocurrency assets.

06:39Update all programs and apps related to cryptocurrencies to protect against vulnerabilities.

06:44Use multi-factor authentication, MFA.

06:47What is MFA?

06:49Multi-factor authentication is a security method that requires several types of identity

06:52verification to access an account.

06:54It usually combines a password and an additional code sent to your phone or email.

06:59MFA significantly complicates the task for attackers as they would need to crack not

07:03only your password, but also gain access to your device for verification.

07:08Most cryptocurrency wallets and exchanges support MFA.

07:12Do not neglect this feature.

07:13Go to your account security settings and follow the instructions to activate this feature.

07:17The security of your cryptocurrency assets is a responsibility that should not be ignored.

07:22By following our tips, you can significantly reduce risks and help protect your investments.

07:28What does the future hold?

07:30MPC wallets continue to evolve, offering new features and improvements.

07:34We already see wallet integration with various financial services, support for multiple cryptocurrencies

07:39and enhanced user interfaces.

07:43In the future, we can expect further development of hardware wallets, enhanced security measures

07:48and expanded functionality of decentralized and MPC wallets.

07:52Here are a few key trends and innovations to watch for.

07:56Future wallets may incorporate biometric authentication, such as fingerprint or facial

08:00recognition to provide an extra layer of security and simplify user access.

08:05As the boundaries between traditional finance and cryptocurrencies blur, wallets might integrate

08:10with traditional banking systems, allowing users to manage fiat and crypto assets seamlessly

08:15all in one place.

08:17Cross-chain functionality will become more common, enabling users to manage multiple

08:21cryptocurrencies across different blockchains within a single wallet.

08:25Wallets will become more user-friendly, with intuitive interfaces and features designed

08:29for both beginners and experienced users alike.

08:32Artificial intelligence could be used to enhance wallet security, automate transactions and

08:37provide personalized financial advice.

08:41So we've traced the evolution of cryptocurrency wallets from the first Bitcoin clients to

08:45today's multifunctional and secure solutions.

08:48The history of crypto wallets is a story of innovation, striving for security and improving

08:53user convenience.

08:54Subscribe to our channel to keep up with the latest news and trends in the world of cryptocurrencies.

08:58Thank you for watching and see you next time.

All You Need to Know About Crypto Wallets Beginners Guide Blum Academy #blum #crypto #airdrop #bitcoin

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