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Why Crypto Wallets Don't Use "Logins"
Traditional Login (Banks, Email)
- • Username and password stored on company servers
- • Company can reset your password
- • Company controls access to your account
- • You trust the company with your data
Crypto Wallet (Self-Custody)
- • Private key stored only on YOUR device
- • Only YOUR recovery phrase can restore access
- • No company can access or freeze your funds
- • You have full control and responsibility
Key Takeaway
Crypto wallets use cryptographic keys, not traditional usernames and passwords. Your "password" is actually a recovery phrase (12-24 words) that mathematically generates your private key. If someone asks for your recovery phrase to help you "login," it's a SCAM.
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Software Wallets vs Hardware Wallets
Understanding the difference is crucial for securing your crypto.
Software Wallets
Hot Wallets
Applications that run on your computer, phone, or browser. Always connected to the internet, making them convenient but more vulnerable.
Examples: MetaMask, Trust Wallet, Exodus, Phantom
Hardware Wallets
Cold Wallets
Physical devices that store your private keys offline. Keys never leave the device, providing maximum security for long-term storage.
Examples: Ledger, Trezor, SafePal
The Critical Importance of Your Recovery Phrase
A recovery phrase (also called seed phrase or mnemonic) is a series of 12-24 words that serves as the master key to your wallet. It can regenerate your entire wallet, including all accounts and funds.
Golden Rules
- Write it down on paper - Never store digitally
- Store securely - Multiple physical locations
- Never share - No one legitimate will ask for it
- Never enter online - No website needs it
SCAM ALERT
If ANYONE asks for your recovery phrase - claiming to be from "support," offering to help you "login," or for "verification" - it is 100% a SCAM. Real wallet providers will NEVER ask for your recovery phrase.
Wallet Safety Checklist
Download & Installation
- Only download from official websites
- Verify the URL carefully
- Never download from third-party links
Daily Usage
- Enable biometric authentication
- Double-check addresses before sending
- Keep wallet software updated
Phishing Prevention
- Bookmark official wallet websites
- Never click wallet links from emails
- Be suspicious of urgent requests