wallet

The Binance Wallet is a user-focused cryptocurrency wallet integrated into the Binance app and available as a desktop-compatible web version called Binance Wallet (Web). It empowers users in decentralized finance (DeFi) and on-chain trading. 
The mobile app wallet emphasizes asset management, secure token swaps across blockchains, DeFi access, and easy wallet creation without seed phrases.  
The web version focuses on delivering a high-speed, data-rich on-chain trading experience with advanced features like portfolio analysis, token tracking, and social updates.  
How Does It Work?
Mobile wallet security: MPC 
The Binance Wallet mobile app uses multi-party computation (MPC) technology, which is an enhanced cryptographic security system that eliminates the need to store your private keys in a single location.
The wallet uses MPC to create three “key-shares”, which are stored separately in your Wallet, cloud storage, and your device. The key-shares are also protected by your recovery password, which is solely known to you.
Web wallet security: SAS
Binance Wallet (Web) implements a new signing method called Secure Auto Sign (SAS), which enables fast and efficient transaction signing within a Trusted Execution Environment (TEE). 
This is a secure, isolated hardware environment operated by a trusted third-party cloud provider, ensuring private keys remain protected, and users retain full self-custody while automating trading securely.
SAS allows quick, convenient authorization of transactions without repetitive mobile app confirmations. Sessions last 7 days and renew automatically with each new order or can be manually reauthorized.
Key Features of the Binance Wallet
Easy to use
You can create a Binance Wallet in just a few seconds through the Binance app. Unlike other crypto wallets, with the Binance Wallet setup you don’t have to worry about seed phrases or private keys, making it much easier to use.
Mobile: Create a Binance Wallet in seconds through the Binance app without managing seed phrases or private keys manually.  Web: Existing Binance Wallet users can log in quickly by scanning a QR code from the Binance app—no separate registration required.
Convenience
Seamlessly connected to Binance Bridge and other service providers, the Binance Wallet facilitates easy token swaps across various blockchains with competitive rates. Users can also explore DApps and generate yield with just a few clicks.
The web version gives you access to features like trending token lists, Binance Alpha tokens, Meme Rush for meme coin insights, detailed token info with prices and charts, wallet and social trackers, portfolio and position management.  
Security
The Binance Wallet offers important security features, including wrong address protection, and identification of potentially malicious smart contracts. When making transactions, the wallet will notify users when a token or blockchain carries a potential security risk.
Mobile app: Uses MPC technology for secure multi-party key custody.Web app: Employs SAS within TEE to isolate private keys and securely delegate signing rights.
Self-custody
Both versions enable complete autonomy over digital assets, encrypted by secure technologies and protected by user-controlled passwords.  
Customer Support
Users have access to dedicated 24/7 customer support across platforms to ensure a safe and smooth operational experience.
How to Use the Binance Wallet
Log in to your Binance account using the Binance app or visit Binance Wallet (Web) for desktop on-chain trading.
Mobile
1. Log in to your Binance account and go to [Wallet] at the top of your screen.

 
2. Next, [Create Wallet] or [Import Wallet] to get started. Back up your wallet and set your recovery password before use.

3. For more details on how to back up Binance Wallet, please refer to the following page: What Is a Keyless Address in Binance Wallet and Why Do I Need to Back It Up?
Web
1. Log in to your Binance account and navigate to [Trade] > [DEX] at the top menu bar.

2. Next, use your Binance mobile app to enable the Secure Auto Sign on Binance Wallet Web.

3. That’s it. You are ready to use the Binance Wallet Web.

Note that for web on-chain trading, the Secure Auto Sign (SAS) authorization lasts 7 days and renews upon trading activity. If inactive for 7 days, reauthorization will be needed.
#Binance #BinanceWallet #Wallet
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We must examine how miners are compensated to better understand Bitcoin’s fee-to-reward ratio. In the Bitcoin network, the block reward is a certain amount of bitcoins miners receive for successfully mining a new block.
The block reward comprises the block subsidy and the transaction fees. 
What is a block subsidy? 
In Bitcoin’s Proof of Work consensus mechanism, miners commit significant computational resources to solve the complex calculations required to add new blocks to the blockchain. In return, miners receive a fixed amount of newly minted bitcoins for every block they add to the blockchain, called a block subsidy. It’s a key incentive for miners to keep the network secure. 
The newly generated bitcoins are created by a special kind of transaction called a coinbase transaction. Typically, the coinbase transaction is the first to be added to a block, generating coins out of nothing because the coins come from a single blank input.
What are transaction fees? 
Each transaction on the Bitcoin network includes a small fee paid to miners for processing the transaction. Miners prioritize transactions with higher fees, meaning the higher the fees, the more likely a transaction will be included in the next block. 
Bitcoin transaction fees work similarly to a bidding system, in which users attach higher fees to transactions, so miners will include it in a block when demand is high.  
Since transaction fees generally make up a tiny ratio of the total block reward, the term “block reward” was sometimes used interchangeably with “block subsidy.” However, as transaction fees on the Bitcoin network increase over time, it’s becoming more vital to differentiate between them. 
For this article, we’ll use the definitions outlined above. Therefore, block reward can be expressed in this formula:
Block reward = block subsidy + transaction fees 
How To Calculate Fee-To-Reward Ratio
The fee-to-reward ratio is usually expressed as a percentage and calculated by dividing the transaction fees by the block reward using the following formula: 
Fee-to-reward ratio = transaction fees / block reward X 100% 
It can also be expressed as: 
Fee-to-reward ratio = transaction fees / block reward 
Why Are Block Rewards Necessary? 
Block rewards serve as an incentive for miners to commit computational power to keeping the Bitcoin network up and running. Miners are rewarded for this commitment with newly mined bitcoins and the bitcoins earned via transaction fees. The design of the block reward is key to Bitcoin’s tokenomics because it keeps a controlled introduction of new bitcoins into the system at a decreasing rate. 
This creates a deflationary economic model and mimics the mining of precious metals, where new metal gets harder to find. It also ensures that no more than 21 million bitcoins will ever exist, according to the code of the Bitcoin protocol. 
What Is Bitcoin Halving? 
The fee-to-reward ratio is gaining more attention, partially because of the Bitcoin halving, which refers to the phenomenon where the block subsidy miners stand to receive halves roughly every four years. 
Bitcoin’s block subsidy started at 50 BTC and has been reduced by half every 210,000 blocks, or approximately every four years. Bitcoin’s block subsidy was reduced to 25 BTC in 2012, 12.5 BTC in 2016, and 6.25 BTC in 2020. It will be reduced to 3.125 BTC in 2024. 
Why Is Fee-To-Reward Ratio Important To Bitcoin’s Security? 
At this halving rate, it’s estimated that the last bitcoin will be mined around the year 2140. After that point, miners will no longer receive block subsidies but will instead be compensated solely through transaction fees. 
Even though that eventual scenario is still many years into the future, some have raised the question of whether transaction fees will grow enough so miners are compensated sufficiently in the absence of block subsidy. 
As block subsidy decreases to 3.125 BTC in 2024 and 1.5625 BTC in 2028 - a level significantly lower than the past decade, this question also seems valid in the immediate future. 
What Is the Outlook for Bitcoin’s Fee-To-Reward Ratio? 
During most of the Bitcoin network’s existence, the fee-to-reward ratio has hovered around low single digits. Transaction fees have generally contributed little to miners’ overall revenue. 
However, transaction fees are determined by various factors, including supply and demand. When demand for Bitcoin’s block space increases, there is greater competition among users to bid higher transaction fees to get their transactions included in the next block.
For instance, transaction fees increased significantly during periods around 2017 and 2020, presumably due to increased mainstream adoption, bitcoin price volatility, and network congestion. 
In early 2023, activities relating to BRC-20 tokens pushed Bitcoin’s fee-to-reward ratio to new historical highs. The fee-to-reward ratio exceeded 50%, meaning that transaction fees in a block were higher than the block subsidy, a rare occurrence. However, such a high fee-to-reward ratio may not be sustainable.
#BitcoinFee #RewardRush #Wallet
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A hardware wallet is a physical device specifically designed to store the private keys of cryptocurrencies offline. Private keys are used to sign transactions, which means having access to one's private keys is the same as having access to one's crypto assets.
Hardware wallets, also referred to as cold wallets, protect private keys from digital threats, such as malware or hackers, by ensuring that the keys never leave the device when used to sign transactions internally. This makes them one of the more secure methods for storing cryptocurrency.
In contrast, software wallets, or hot wallets, are online applications installed on devices like a computer or smartphone, offering greater accessibility but being more vulnerable to internet-based attacks.
How Does a Hardware Wallet Work? 
Since hardware wallets are offline at all times, they must be used alongside another machine that is connected to the Internet. Hardware wallets are typically built to be able to plug into PCs or smartphones without leaking the private key — even machines that have been infected by malware. From there, they interact with software that allows the user to view their balance and make transactions. 
Once the user creates a transaction, they send it to the hardware wallet (1 in the diagram below). Note that the transaction is still incomplete: it needs to be signed by the private key in the device. Users confirm that the amount and address are correct when prompted on the hardware device. The transaction is then signed and sent back to the software (2), which broadcasts it to the cryptocurrency’s network (3).

A Step-by-Step Guide to Using a Hardware Wallet 
Using a hardware wallet involves a few key steps. While the specifics can vary between different models and manufacturers, the general process is as follows:
Setup
Purchase a reputable hardware wallet
Only buy hardware wallets from reputable sources to avoid tampered devices. It’s crucial to buy them directly from your chosen brand’s official website and ensure the wallet is sealed when you receive it.
Initialize the wallet 
Connect the hardware wallet to your computer or smartphone. This usually involves downloading a specific app or software to interface with the device.
Create a new wallet
The device will guide you to set up a new wallet, which includes generating a new set of private keys.
Backup
Write down the recovery phrase
During setup, the wallet will display a recovery phrase (usually 12-24 words from the BIP39 word list). Write these down and store them in a secure, offline place. This recovery phrase can restore your wallet if the device is lost, stolen, or damaged.
Read on to understand the difference between a recovery phrase and a private key. 
Security
Set a PIN
Most hardware wallets will allow you to set a PIN for additional security. This PIN will be required to authorize transactions.
Receiving cryptocurrency
Find your address
Use the wallet's app or software to find your public address for the cryptocurrency you want to receive.
Share your address 
Provide this address to the person or exchange sending you cryptocurrency. They will send the cryptocurrency to this address.
Sending cryptocurrency
Create a transaction 
Use the wallet's app or software to create a new transaction. Input the recipient's address and the amount of cryptocurrency you want to send.
Sign the transaction
The hardware wallet will sign the transaction with your private keys. This is done within the device, so the keys never leave the wallet.
Broadcast the transaction
After you've signed the transaction, the wallet's software will broadcast it to the rest of the network.
Differences Between a Private Key and a Recovery Phrase
Private keys and recovery phrases are designed to control access to your cryptocurrencies. However, they represent two different formats and use cases.
Private key
A private key is a secret number - commonly in a hexadecimal format - that allows bitcoin or other cryptocurrencies to be spent. It’s a critical part of the cryptography systems behind cryptocurrencies. It's used to sign transactions, providing mathematical proof that they have come from the owner of the wallet.
Recovery phrase 
A recovery phrase, seed phrase, or backup phrase is a list of words that store all the information needed to recover a cryptocurrency wallet. This phrase represents the private key(s) in a human-readable format. 
It's used as a backup to restore access to your cryptocurrencies if you lose access to your wallet, lose your device or forget your PIN or password.
In summary, the private key is the raw, non-human-friendly format that's used internally within the wallet and for signing transactions, while the recovery phrase is a human-friendly format that's used for backup and recovery. The recovery phrase is usually easier to write down and store securely than a raw private key.
Does the Private Key Ever Leave the Hardware Wallet? 
One of the fundamental security principles of a hardware wallet is that the private keys never leave the device. 
Users create a transaction on their computer or smartphone, and this transaction data is sent to the hardware wallet, which signs the transaction internally with the private key. The signed transaction is then sent back to the computer or smartphone. At no point during this process is the private key exposed or transferred out of the device.
However, there have been proposals by hardware wallet manufacturers to add recovery options that would essentially allow the private keys to be reconstructed outside of the hardware wallet, which has been controversial.
Ten Tips for Using Hardware Wallets Securely
Considering the benefits and risks of hardware wallets, it’s good to keep in mind the following 10 tips when using hardware wallets to maximize security. 
1. Buy a hardware wallet from a trusted source
Always purchase your hardware wallet directly from the manufacturer or a trusted retailer to avoid tampered devices.
2. Update to the latest firmware 
Always keep your wallet's firmware up-to-date. Manufacturers often release updates to improve security and functionality.
3. Never share your recovery phrase 
Your recovery phrase is as powerful as your private key. If someone else gets it, they can take control of your cryptocurrencies. Never share it, and be cautious of anyone asking for it.
4. Keep your recovery phrase secure and offline
Store your recovery phrase in a safe, secure, and offline location. Don't store it digitally or online where it could be susceptible to hacking.
5. Use a strong PIN 
Set a strong PIN to protect your device from unauthorized use. Don't use a PIN that is easy to guess, like "1234" or "0000".
6. Double-check addresses
When sending cryptocurrency, always reconfirm the recipient's address. Malware can change addresses copied to your clipboard.
7. Verify transactions on the device
Always verify the transaction details on your hardware wallet's screen before confirming, not just on your computer or smartphone screen.
8. Keep your wallet secure
Treat your hardware wallet as you would valuable jewelry or large amounts of cash. Store it in a secure location when not in use.
9. Consider using a passphrase 
For extra security, some wallets allow you to add a passphrase in addition to the PIN. This effectively creates a hidden wallet. However, if you forget the passphrase, there's no way to recover it, so use this feature with caution.
10. Use trusted computers 
Try to only connect your hardware wallet to computers you trust and that have good security measures in place. You should avoid plugging your hardware wallet into devices simply out of convenience. 
Benefits and Risks of Hardware Wallets 
Hardware wallets provide several benefits, especially in terms of security and safe storage of cryptocurrencies. Here are some of the key benefits:
Security 
Hardware wallets are designed with strong security measures. They store your private keys offline, keeping them safe from online attacks, such as phishing, malware, and hackers.
Private key isolation
The private keys never leave the device and all transactions are signed within the device, further protecting your private keys from exposure.
Backup and recovery
Hardware wallets generate a recovery phrase (also known as a seed phrase) during setup. This can be used to recover your funds on a new device if your original device is lost, stolen, or damaged.
Durability & portability 
They're designed to be robust and durable, more so than a piece of paper where one might note down private keys or recovery phrases. Most hardware wallets are small devices, similar in size to a USB stick, which makes them easily portable.
Control over your funds 
With a hardware wallet, you're in complete control of your cryptocurrencies, as the crypto community says, “not your keys, not your coins.” With a hardware wallet, you’ll hold your own private keys, which means you don’t have to worry about custodian risks. 
While hardware wallets are one of the most secure ways to store your cryptocurrencies, they are not without potential risks. Some of the risks associated with using a hardware wallet include:
Physical theft or loss
Since a hardware wallet is a physical object, it can be stolen or lost. If someone knows your PIN or can guess it, they could potentially access your cryptocurrencies.
Supply chain attack 
If you buy a wallet from an unreliable source, it could have been tampered with before it reaches you. Always buy directly from the manufacturer or a trusted retailer.
Phishing attacks
A phishing attack could trick you into entering your PIN or recovery phrase into a computer that's been compromised, potentially revealing this crucial information to hackers.
Failure to back up properly
If you lose your hardware wallet and haven't properly backed up your recovery phrase, you could lose access to your cryptocurrencies.
Forgetting PIN or recovery phrase
If you forget your PIN or lose your recovery phrase, you could be locked out of your wallet permanently.
Damage
The device can be damaged by water, fire, or just through wear and tear. If the device is damaged and you haven't kept a backup of your recovery phrase, you could lose access to your cryptocurrencies. But if you have kept a backup of your recovery phrase, you can regain access via a new device. 
Firmware vulnerabilities
While rare, vulnerabilities in the wallet's firmware could potentially be exploited to gain access to your private keys. Always keep your wallet's firmware up-to-date and purchase hardware wallets that have been thoroughly audited and peer-reviewed.
Address verification
If you don't carefully verify the address on the device's screen during a transaction, malware on your computer could trick you into sending cryptocurrencies to the wrong address.
Each of these risks can be mitigated through careful practices such as proper backups, careful verification of addresses, purchasing from trusted sources, and maintaining good physical security of the device.
#BTCMiningDifficultyIncrease #PredictionMarketsCFTCBacking #Wallet
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Multi-party computation (MPC) or secure MPC (SMPC) is a way for a bunch of people to work out something secret together. It keeps things private, especially on the internet, where it's hard to keep secrets. To understand MPC, here's a simple example.
Imagine three blockchain workers at a Web3 startup. They want to find out their average pay without telling each other how much they make. They use an MPC protocol to find the average without giving away any secrets. The MPC uses a trick called additive secret sharing to divide the secret between the workers. This lets someone find the average without talking to the workers directly.
MPC depends on two important things: keeping things private and getting the right answer. Even if some workers don't follow the rules, MPC stops them from making others tell lies or sharing secrets they are not supposed to share.
History of Multi-Party Computation
MPC is a subfield of cryptography that started in the 1970s, with real uses starting in the 1980s. But unlike traditional cryptographic techniques, which are often used to protect information from outsiders, MPC uses cryptography to ensure data privacy between participants of the same system. 
As such, MPC technology is now applied to a range of use cases, such as securing digital assets in MPC wallets or keeping certain information private during digital auctions.
What Is an MPC Wallet?
As the name suggests, an MPC wallet uses multi-party computation technology to offer enhanced security for your cryptocurrencies and other digital assets. It basically splits a wallet’s private key among multiple parties to increase privacy and reduce the risks of hacking, breaches, and losses.
But isn’t that what multisig wallets do? Well, not really. Multisig and MPC wallets were both designed to increase privacy and enhance security, but their working mechanisms are different.
MPC Wallets vs. Multisig Wallets
A multisig wallet sends blockchain transactions through a unique signature that requires the authentication of two or more private keys (one private key from each party). MPC wallets, however, divide a single private key among the multiple parties. While they may sound similar, there are technical implications that make MPC wallets more flexible and easier to implement.
Benefits of MPC Wallets vs. Other Crypto Wallets
Among the different types of crypto wallets, custodial wallets are the ones that hold and manage your assets and private keys. In contrast, non-custodial wallets are the ones that allow users to hold and control their private keys. 
The non-custodial wallets are often seen as safer storage options as users don’t need to trust a service provider or a third party with their keys. However, being in full control over your wallets and keys also has disadvantages (especially for beginners). These wallets usually require some degree of technical knowledge, and users need to make sure their keys don’t get lost or stolen.
MPC wallets can provide the best of both worlds. They are getting more popular because they can offer enhanced security with more convenience, eliminating or reducing the problems faced by other wallets.
In short, the benefits of MPC wallets are:
Increased privacy: data is encrypted in all parts of the process, and there is no need to trust third parties.Increased security: removes single points of failure. The secret key is spread among multiple parties and locations.More convenience: you can hold your assets online. No more need for cold storage.
What Are the Downsides of MPC Wallets?
Slower: Increased security often leads to slower performance as it requires extra computational work, especially when generating private keys and their secret shares.Higher costs: Sharing and computing data between multiple parties (and sometimes multiple networks) can increase costs significantly.
MPC Wallet Use Cases
MPC technology has become the top choice for strong security solutions in big institutions because of the many benefits it offers. Well-known financial companies have started using MPC to keep their assets safe from both inside and outside threats.
#Wallet #MultiPartyComputation #mpcwallet
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An air-gapped wallet is a type of cryptocurrency wallet that is designed to remain disconnected from the Internet and any form of wireless communication. The types of wireless communication that air-gapped wallets are disconnected from include Bluetooth, wifi, NFC (near-field communication), and sometimes even USB drives. 
The term “air gap” comes from the concept of having a physical “gap of air” between the wallet device and any online networks or wireless communication, providing an extra layer of security against hacks and exploits. 
How Does An Air-Gapped Wallet Work? 
In order to facilitate transactions while remaining disconnected from the Internet and wireless communication, air-gapped wallets rely on scannable QR codes or micro-SD cards, which are small removable memory cards in which transaction data can be stored. 
Air-gapped wallets commonly employ computer-based software applications that support Partially Signed Bitcoin Transactions (PSBTs) for Bitcoin or other similar partially signed transactions for different cryptocurrencies.
Let’s examine how an air-gapped wallet works in making a Bitcoin transaction. 
Step 1: Creating a Partially Signed Bitcoin Transaction (PSBT)
Users generally set up a transaction on an online device with a Bitcoin wallet, specifying the recipient’s Bitcoin address and the amount to be sent. 
Since this online device doesn’t have the user’s private key, it cannot fully sign the transaction. Instead, a Partially Signed Bitcoin Transaction (PSBT) is created with all the transaction details except the digital signature signed by the user’s private key. 
Step 2: Signing the transaction 
The unsigned transaction is transferred to the user’s air-gapped wallet by scanning a QR code. The transaction can also be recorded and stored as a file that can be read by a micro-SD card.  
The air-gapped wallet has the private key and signs the transaction in the offline environment. It’s important to note that the air-gapped wallet is never connected to the Internet or wireless communications, which should, in theory, keep the private key safe.
Step 3: Broadcasting the transaction
The fully-signed transaction is transferred back to the online device, once again via a QR code or micro-SD card. 
The online device broadcasts the signed transaction to the Bitcoin network. The transaction is then processed and confirmed by miners and recorded on the blockchain, like any other transaction. 
Types of Air-Gapped Wallets
Air-gapped wallets can come in a variety of different forms but the following are the most common air-gapped wallets. 
Air-gapped hardware wallets
These are specially-built hardware devices designed to store private keys offline. These wallets generally facilitate transactions without ever exposing the private keys to an online environment or wireless communications. 
These devices usually have a digital screen to display transaction information and physical or touch buttons to manually approve transactions.
Air-gapped computers 
Users can also dedicate an entire computer to serve as an air-gapped wallet. This computer is usually never connected to the Internet and is used exclusively for storing private keys and signing transactions. 
The unsigned transactions are conveyed to air-gapped computers typically via a USB stick and the signed transactions are transferred out the same way. This approach can be more complex and requires a higher level of technical skills.
Air-gapped smartphones 
Similar to air-gapped computers, a smartphone can also be used as an air-gapped wallet. The phones can be factory reset and set up without any connection to the Internet. Wallet software is installed via an SD card or similar methods. This can also be complex and will require advanced technical skills.
Differences Between Air-Gapped Wallets and Other Types of Wallets 
To better understand air-gapped wallets, it’s useful to see how they compare with other types of wallets. 
There are different ways to categorize wallets, and let’s see where an air-gapped wallet fits in each classification. 
Categorizing crypto wallets based on connectivity
Hot wallets
A hot wallet is any wallet that is connected somehow to the internet. These wallets are easy to set up, and the funds are quickly accessible, making them convenient for traders and other frequent users.
Cold wallets 
A cold wallet is disconnected from the Internet and uses a physical medium to store the keys offline. A cold wallet tends to be a safer alternative to storing crypto. This method is also known as cold storage and is suitable for long-term investors or "HODLers."
An air-gapped wallet is a specific type of cold wallet, but not all cold wallets are necessarily air-gapped wallets.  
Categorizing crypto wallets based on physical form
Hardware wallets
A hardware wallet is a physical device that stores your private keys offline. They are cold wallets and similarly offer a higher level of security. They are typically used for long-term storage of large amounts of cryptocurrencies. 
Software wallets
A software wallet is a program or an app that is installed on your computer or smartphone. They are generally connected to the Internet and are therefore hot wallets. This category includes web wallets, desktop wallets, and mobile wallets. 
Paper wallets
A paper wallet is a piece of paper on which a crypto address and its private key are physically printed out in the form of QR codes. These codes can then be scanned to execute cryptocurrency transactions.
An air-gapped wallet is a type of hardware wallet, but not all hardware wallets are air-gapped wallets. A paper wallet can be technically considered an air-gapped wallet, but making transactions with a paper wallet often requires the private keys to be imported into a software wallet, which would break the air gap.
Categorizing crypto wallets based on control over private keys
Custodial wallets
Private keys to custodial wallets are controlled by a third party, such as an exchange. They are often easier to use but are much riskier than non-custodial wallets as the holder will rely on the third party for the security of their cryptocurrencies. 
Non-custodial wallets
These are wallets where the user has full control of their private keys. These wallets allow users to have full control of their cryptocurrencies and no third party is involved. Most desktop wallets, mobile wallets, and hardware wallets belong to this category.
An air-gapped wallet is a type of non-custodial wallet, but not all non-custodial wallets are air-gapped wallets. 
Differences Between Air-Gapped Wallets and Hardware Wallets 
Air-gapped wallets are a type of hardware wallet, but there are some key differences between the two. 
Connection to the Internet
An air-gapped wallet is never connected to the Internet. As mentioned above, air-gapped wallets conduct transactions by ensuring the private keys remain offline at all times.
A hardware wallet also stores keys offline but typically connects to an Internet-connected device to sign transactions. The private keys are designed to never leave the hardware wallet but hardware wallets do connect to an online device during the transaction signing process.
User Experience
Air-gapped wallets may require more steps to make a transaction, while hardware wallets usually offer a more straightforward process for signing transactions, as they're designed to connect directly with an online device.
However, hardware wallets generally still offer a high level of security when used correctly, as they're designed to keep the private keys isolated even when the device is connected. 
Both air-gapped wallets and hardware wallets offer a high level of security by keeping private keys offline, with air-gapped wallets taking an extra step in maintaining a strict separation from Internet-connected devices. 
Is an Air-Gapped Wallet More Secure? 
The crypto community generally considers air-gapped wallets more secure than other types of wallets. 
This added security comes from the fact that an air-gapped wallet is created and used on a device that is never connected to the Internet, isolating it from online threats such as hacking, phishing, and malware. 
Air-gapped wallets store the private keys on devices that are completely offline, making it harder for malicious actors to steal the private keys without physical access to the device. 
What Are the Risks and Limitations of Air-Gapped Wallets? 
Air-gapped wallets are highly secure but it doesn’t mean they are infallible. There are still potential security vulnerabilities. If an air-gapped device is ever connected to the Internet mistakenly by the user, or if malicious software is introduced to the device through a USB stick (some air-gapped wallets use USB for charging and updates) or any other medium, the security of the device can be compromised.
There are also challenges for the user to maintain good physical protection of the air-gapped wallets from theft, damage, or loss. Users should follow best practices and keep backups of their keys securely to safeguard themselves against such risks. Lastly, ensuring correct and proper usage of air-gapped wallets requires a high degree of technical know-how. 
Choosing the Right Air-Gapped Wallet
Crypto holders who have decided to invest in an air-gapped wallet should consider the following factors before choosing their device:
Compatibility
Ensure that the wallet supports the cryptocurrencies you intend to store. Different wallets may have varying levels of support for different cryptocurrencies — for instance, some wallets are designed to only store bitcoins. It’s crucial to check if your desired currencies are supported before making a decision.
Reputation and reviews
Research the wallet's reputation and read reviews from other users in the crypto community on platforms such as Twitter, Discord, and Reddit. The level of trust and support from the cryptocurrency community is also a crucial factor to consider. Well-established wallets with a strong community presence are generally more reliable and less likely to have security vulnerabilities. 
Consider purchasing a wallet developed by a brand that has a strong track record and positive feedback regarding its security, reliability, and customer support.
Development community
Assess the wallet's development community on platforms such as GitHub and look out for ongoing updates. Active development indicates that the wallet is regularly maintained, with potential bug fixes and security enhancements.
User experience
Consider the ease of use and user interface of the wallet. A well-designed and intuitive interface can make managing your funds more convenient and user-friendly.
#WhenWillCLARITYActPass #AirGappedWallets #Wallet
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Web3 wallets have emerged as essential tools for users seeking to explore the world of cryptocurrencies and decentralized finance (DeFi). In this guide, we will discuss the fundamental concepts of Web3 wallets and their different types, followed by some popular examples.
What Is a Web3 Wallet?
Web3 wallets are digital wallets designed for the world of decentralized finance. They act as gateways for users to interact with blockchain networks and decentralized applications (DApps), providing a secure way to manage cryptocurrencies, NFTs, and other digital tokens.
Web3 Wallets vs. Crypto Wallets
Although the two terms are often used as synonymous, not all crypto wallets are compatible with DApps and DeFi platforms. So, while both Web3 and crypto wallets are used to manage cryptocurrencies, Web3 wallets support a wider variety of digital assets.
How Web3 Wallets Work
Most Web3 wallets are designed to provide users with full control over their digital assets. This means that users are responsible for managing their seed phrases and private keys.
Typically, whenever you create a new Web3 wallet, you will generate a unique seed phrase of 12 or 24 words. This is what gives total access to your crypto wallet and its private keys (used to sign and verify transactions). Do not share your seed phrase and private keys with anyone.
Key Features of Web3 Wallets
Although some features might differ from one wallet to another, most Web3 wallets come with a set of key features:
Multi-asset and multi-chain support: Support a variety of blockchain networks and digital assets, including cryptocurrencies and NFTs.Smart contract and DeFi interoperability: Facilitate seamless interactions with smart contracts, giving users access to DApps, decentralized exchanges, marketplaces, and other blockchain-based applications.Peer-to-peer transactions: Enable users to send and receive digital assets without the need for centralized services or intermediaries.Security: A good Web3 wallet should offer robust security and implement encryption techniques to protect seed phrases and private keys from potential threats. Some also include notifications and warnings against potentially malicious websites and smart contracts.Pseudonymity: Although most blockchain transactions are publicly available, users can create Web3 wallets without sharing sensitive data or personal information.
Custodial vs. Non-Custodial Web3 Wallets
1. Non-custodial wallets
Non-custodial or self-custody wallets provide users with complete control over their assets. Popular examples include MetaMask and Trust Wallet. Non-custodial Web3 wallets are considered the safest option for most traders and investors, as long as their private keys and seed phrases are kept private and secure.
2. Custodial wallets
Custodial wallets involve a third party managing private keys on behalf of users. The wallets you have in your Binance account are examples of custodial wallets. While offering convenience, users must trust the custodian with their assets, so it’s important to choose reliable and trustworthy exchanges.
Types of Web3 Wallets
There are multiple ways to categorize Web3 and crypto wallets. In this section, we will explore some of the most common types: hardware, web, desktop, mobile, paper, and smart contract wallets. Keep in mind, however, that there are overlaps between the different categories. For example, some Web3 wallets like MetaMask are available as both web and mobile wallets, and offer support for hardware wallets like Trezor and Ledger.
Hardware wallets
Hardware wallets are physical devices that store cryptocurrency keys offline (cold storage), providing an extra layer of security. Even though they're safer from online threats, they can be a bit tricky to use and access compared to other wallets. But, if you plan to keep your crypto for a long time or have a lot of it, a hardware wallet might be a good choice. 
You can set up a PIN code for extra protection, and most of them let you create a backup recovery phrase in case you lose your wallet. Trezor and Ledger are popular examples of hardware crypto wallets.
Web wallets
Web wallets usually operate through a browser interface, allowing users to access their cryptocurrency holdings online. Most web wallets today are also available as mobile wallets. While convenient, users must be cautious when connecting their wallets to DeFi platforms and DApps. Interacting with malicious websites or smart contracts may put your assets at risk.
Mobile wallets
Mobile wallets operate similarly to web wallets, but are specifically crafted for smartphones. They enable users to send and receive cryptocurrencies conveniently using QR codes. They also offer easy mobile access to DeFi and DApps.
However, just like computers, mobile devices are susceptible to malicious apps and malware. It's advisable to secure a mobile wallet by encrypting it with a password and backing up your seed phrase (or private keys) in case of phone loss or malfunctions.
MetaMask, Binance Web3 Wallet, and Trust Wallet are notable examples of mobile crypto wallets. We will cover each in more detail in the next section.
Smart contract wallets
Smart contract wallets are managed by smart contracts on the blockchain. These wallets introduce programmable, self-custodial accounts and enable advanced functionalities. Unlike traditional wallets, smart contract wallets allow users to define rules and conditions for transactions, automate financial activities, and enhance security through programmable logic. 
Smart contract wallets often leverage blockchain technology, providing users with decentralized control over their funds and facilitating integration with DeFi applications. Security features such as multi-signature requirements, time locks, and upgradability are common aspects of smart contract wallets, making them versatile tools for managing and interacting with cryptocurrencies.
Desktop wallets
Desktop wallets were more common in the early years of Bitcoin and cryptocurrencies. They are software applications installed on your computer, providing complete control over your cryptocurrency keys. Security relies on the user's computer integrity, and regular backups of the wallet data are essential to prevent loss.
Paper wallets
Paper wallets are often discouraged and considered by many obsolete. They involve the physical printing or writing of cryptocurrency addresses and private keys on paper. Offering offline storage, they are resistant to online hacking but require careful handling and secure storage to prevent physical damage or loss.
Examples of Web3 Wallets
MetaMask
MetaMask stands as one of the most popular non-custodial Web3 wallets, known for its compatibility with Ethereum and various EVM-compatible blockchains, such as BNB Chain, Polygon, Avalanche, Arbitrum, and many others.
Users can use MetaMask to interact with DApps, manage digital assets, and engage in token swaps. MetaMask prioritizes user autonomy, as it doesn't control private keys, offering a secure and intuitive experience for both beginners and experienced users.
Binance Web3 Wallet
The Binance Web3 Wallet, integrated into the Binance app, targets both new and experienced DeFi users. Leveraging multi-party computation (MPC) technology, it enhances cryptographic security by eliminating the need for a single storage location for private keys. The wallet's three "key-shares" are distributed across the Web3 Wallet, cloud storage, and the user's device, and are further protected by a recovery password known only to the user. This approach ensures enhanced security and reduced risks of single points of failure.
Binance Web3 Wallet Features
Easy setup: Quick creation through the Binance app without the need for seed phrases or private keys.Convenience: Seamlessly connected to Binance Bridge and other service providers for easy token swaps and exploration of DApps.Security measures: Wrong address protection and identification of potentially malicious smart contracts, with transactions controlled by multi-party computation (MPC) technology.Self-custody: Encrypted by three "key-shares" and a recovery password, offering complete autonomy over assets.Customer support: A 24/7 customer support service ensures a safe and smooth experience for users.
Trust Wallet
Trust Wallet, another prominent non-custodial wallet, offers a seamless mobile experience for managing cryptocurrencies. Supporting a wide range of blockchains, Trust Wallet enables users to store assets, explore DApps, and participate in DeFi activities. Its user-friendly interface and strong security measures make it an ideal choice for mobile users seeking both convenience and protection.
#Web3 #TrustWallet #Wallet
$BTG
$XRP
$BTC

Phantom Wallet là một ví tiền điện tử không giám sát. Mặc dù ban đầu được thiết kế cho blockchain Solana, Phantom hiện hỗ trợ nhiều chuỗi, bao gồm Solana, Ethereum, Base, Polygon và Bitcoin. Việc không giám sát có nghĩa là Phantom Wallet không giữ khóa riêng và cụm từ hạt giống của bạn, vì vậy người dùng hoàn toàn kiểm soát khóa và tài sản kỹ thuật số của họ.
Phantom Wallet hoạt động như một cổng cho người dùng quản lý tiền điện tử và NFT (token không thể thay thế). Tương tự như các ví Web3 khác, Phantom cũng cho phép bạn tương tác với các nền tảng tài chính phi tập trung (DeFi) và các ứng dụng (DApps).

$BTC

Ví của Satoshi Nakamoto — khoảng 1.000.000 BTC (~66 tỷ USD). Không có động thái nào kể từ năm 2010. Có thể là tài sản tiềm tàng lớn nhất không hoạt động trong lịch sử hiện đại. Không ai biết Satoshi còn sống, đã đi, hay chỉ đơn giản là chọn im lặng.
Ví hacker Mt. Gox — 79.957 BTC (~5,3 tỷ USD). Nhận được trong một giao dịch duy nhất vào ngày 1 tháng 3 năm 2011. Không có một satoshi nào từng di chuyển. Một trong những địa chỉ được theo dõi nhiều nhất trong lịch sử tiền điện tử.
Ví bí ẩn (BEQeC) — 83.000 BTC (~5,5 tỷ USD). Chưa bao giờ gửi một giao dịch nào đi. Trong hơn một thập kỷ, nó chỉ ngồi đó — thỉnh thoảng nhận các khoản tiền gửi ngẫu nhiên từ những người dùng tò mò.