💡 Y Bot Learning Task
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🎓Week 3. Today’s Lesson 1 - What are Wallets and Their Types
Q: What do crypto wallets actually store?
A: Private keys.
Q: Where do non-custodial wallets store private keys?
A: On the device where the wallet is installed.
Q: What kind of wallet is Metamask?
A: Non-custodial wallet.
Q: How many millions of users do Ledger wallets have?
A: 6.
🎓Week 3. Today’s Lesson 2 - Setting Up Your Wallet
Q: How are non-custodial wallets better than custodial ones?
A: Non-custodial wallets let users control their keys and funds.
Q: Why is it important to install wallets from the official websites?
A: To prevent installing fake apps.
Q: What does the seed phrase contain?
A: A private key.
Q: How many millions of USD were stolen due to poor private key management in 2023?
A: 560
🎓Week 3. Today’s Lesson 3 - Wallets and Private Keys
Q: What does it mean to backup a crypto wallet recovery phrase?
A: To copy it to a safe place.
Q: What is the best place to store a wallet backup?
A: A notepad, a USB stick, or any other offline physical storage.
Q: Who can you trust with your recovery phrase or private key?
A: No one.
Q: What does a recovery phrase look like?
A: A phrase of 12 words.
🎓Week 3. Today’s Lesson 4 - Advanced Security Measures
Q: What does 2FA stand for?
A: Two-factor authentication.
Q: How are multisignature wallets different from regular ones?
A: They require a transaction to be signed with multiple private keys.
Q: What is the safest wallet in the list?
A: Hardware wallet.
Q: Pick the hardware wallet.
A: Looks like a USB flash drive.
🎓Week 3. Today’s Lesson 5 - Protecting Your Digital Identity
Q: Why it’s important to keep crypto holdings a secret?
A: There’s a chance thieves will use this information to rob you.
Q: What does cryptos’ pseudo-anonymity mean?
A: One can’t identify the wallet’s owner identity without additional hints.
Q: Why it’s not wise to share your phone number and other contacts online?
A: You’ll be targeted by scammers.
Q: How many millions of USD has the most famous SIM swapping gang stolen?
A: 400
🎓Week 3. Today’s Lesson 6 - Understanding Scams in Crypto - Part 1
Q: What is a Ponzi scheme?
A: A scam that pays returns to older investors using the money from new investors.
Q: What is a rug-pull?
A: A project that ends with founders stealing all invested money, rugging investors.
Q: How do scams lure crypto newcomers into investing money?
A: They promise way higher returns than others exploiting greed.
Q: How many billions were lost by the investors of OneCoin, the biggest crypto scam in history?
A: 4
🎓 Week 3. Today’s Lesson 7 - Understanding Scams in Crypto - Part 2
Q: What is phishing in crypto?
A: Luring people into fake apps to steal their crypto.
Q: How do romance scams trick people into sending crypto assets?
A: By building fake virtual relationships and asking for funds.
Q: What are crypto drainers?
A: Malicious smart contracts which drain the wallet once it is connected.
Q: The OpenSea phishing hack happened in …
A: 2022
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