I'd say don't store huge funds on hot wallets instead, newbies like ignoring fact at first thinking they knew better until they learn the hard way, no other wallet is safer than cold wallets ( hardware wallet ).
Actually cold wallet is encouraging to save a coin with indecencies that the primary functions are no were linked to online, so no body as well can hack your wallet using cold wallet, but saving with hot wallet is of damage indecencies that almost it's informations are been stored online instead of offline, so it can be easily to be track, so, i think from my perspective i agreed with you. 
Topic: Don't do the following with your hot wallets (Read 251 times)
Does people still participate in airdroos and does it even still exist in 2022? Few years ago inngeneral it was waste of time, I'm wondering is it still possible to make money from it?
And yeah, your advice is good. There is simply too many sad stories how people lost their money by being not careful enough. Don't use your main wallet for airdrops
For real? I'm sure everyone on here must have heard about uniswap, ENS, 1inch, and others giving up thousands of dollars to all those that have traded on their platforms before, airdrops still pays but only 2 out of 100 that's just the case.And yeah, your advice is good. There is simply too many sad stories how people lost their money by being not careful enough. Don't use your main wallet for airdrops
First of all hot wallets may not be able to receive an unknown token from the airdrop so you completely talking about airdrop thing why you are using hot wallets? MEW is easier right and you suggested trust wallet
It seems you are confusing hot/cold wallets with custodial/non-custodial wallets!
Technically, any wallet can receive any token (airdropped or not) as long as it's on the same chain. The reason why some tokens do not appear on your balance is because you are using a custodial service (they may choose not to add sone custom tokens).
MEW is a non-custodial wallet and it can be used online (hot wallet) or offline (cold wallet).
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you need to know that it is not completely open sourced which means you can't feel 100% safe there as well.
MyEtherWallet is open source and here is the link to their github repo: https://github.com/myetherwallet
Does people still participate in airdroos and does it even still exist in 2022?
LOL. I don't know if they are worthy these days. But back in 2019, I had participated in few airdrops & out of them, I got the reward from only a few projects LOL. I was surprised when I saw that last year, I sold almost $500 worth of these shit token. I guess it's not a bad amount.Not sure if airdrops are worthy these days but who knows what will happen in the future.
3. If Airdrop is a must for you then create separate wallet for that reason only.
Exactly, be careful and never use your main wallet to join such airdrop. This is about our carefulness and also wisdom to manage our own wallet in order to be more secure although there is no 100% security here. 2. Don't connect your wallet with any website, you want to sell anything? Send tokens yourself to an cex exchanges.
It will depend on what kind of website or DEX, As long that is a reputable platform like SushiSwap, PancakeSwap and other like them, I will not be problem to connect with the wallet because we are using those rpeutable DEX to trade our coins. BUt becareful if the website is new and also non rpeutable platform, better to stay away and not cnnected them This is only true for Ethereum and other coins where 1 wallet has 1 address. In Bitcoin, it would be okay to just submit one of the addresses of your hot wallet, and simply mark it as used for airdrop to practice coin/address control.
People say that Bitcoin is outdated because it doesn't have smart contracts, but as practice shows, smart contracts often used for scams, hacks, rugpulls, ponzi schemes, and almost never for something productive.
People say that Bitcoin is outdated because it doesn't have smart contracts, but as practice shows, smart contracts often used for scams, hacks, rugpulls, ponzi schemes, and almost never for something productive.
Yes, it is unfortunate that scammers are always looking for new ways to scam people and further their evil plans. However, I would not call smart contracts fundamentally bad, there are some legitimate projects which could certainly prove useful in the future. As I believe this whole industry to be at a very early stage, there are still many possible applications of smart contracts, and they might just become an essential tool for many businesses, for instance payment systems, online gaming and more. All those legitimate projects which may actually help make the world a better place. Therefore, I believe we should wait and see how the blockchain technology will develop.
This is only true for Ethereum and other coins where 1 wallet has 1 address. In Bitcoin, it would be okay to just submit one of the addresses of your hot wallet, and simply mark it as used for airdrop to practice coin/address control.
People say that Bitcoin is outdated because it doesn't have smart contracts, but as practice shows, smart contracts often used for scams, hacks, rugpulls, ponzi schemes, and almost never for something productive.
People say that Bitcoin is outdated because it doesn't have smart contracts, but as practice shows, smart contracts often used for scams, hacks, rugpulls, ponzi schemes, and almost never for something productive.
What you said about creating a new separate wallet just for the sake of airdrops is good but not all airdropped tokens or coins are acam or unsafe if you call it but some airdrops let you earn a few bucks as I also earn a few bucks from airdrops. To tell you honestly, I have some of the airdrop tokens or coins in my wallet but my wallet is still safe but there are tokens/coins that are still stored in my wallet but I didn't mind it since it is useless to transfer it to other wallet so I just leave it there and not touch it.
Do not use hot wallet to store your coins and still use the same wallet to participate in airdrops and other free offers, as a matter of fact I am against anything free in crypto space this days because it's a smart way of getting the best of you and your wallet.. A cold wallet is better in every way, you don't have any other ways than using hot wallet? ( Trust Wallet ).
1. Stay away from airdrops because there is no way you won't try claiming free tokens.
2. Don't connect your wallet with any website, you want to sell anything? Send tokens yourself to an cex exchanges.
3. If Airdrop is a must for you then create separate wallet for that reason only.
Check out this video about someone who lost 4000 euro worth of crypto asset 3 days ago, be strict with your assets, please.
https://youtu.be/KQA8hJTB-3g
1. Stay away from airdrops because there is no way you won't try claiming free tokens.
2. Don't connect your wallet with any website, you want to sell anything? Send tokens yourself to an cex exchanges.
3. If Airdrop is a must for you then create separate wallet for that reason only.
Check out this video about someone who lost 4000 euro worth of crypto asset 3 days ago, be strict with your assets, please.
https://youtu.be/KQA8hJTB-3g
Am not really against participating in airdrop, but everybody knows that most airdrops now are fake and scammers are using opportunity to scam people of there money, some will say before you can claim your airdrop rewards you have to connect your wallet to a website first, which if you connect the scammer can have access to all the coins in your wallet, that's why whenever you want to participate in airdrop or bounties always make sure you having a separate wallet for that and you shouldn't use your main wallet to participate in airdrop.
First of all hot wallets may not be able to receive an unknown token from the airdrop so you completely talking about airdrop thing why you are using hot wallets? MEW is easier right and you suggested trust wallet
It seems you are confusing hot/cold wallets with custodial/non-custodial wallets!
Technically, any wallet can receive any token (airdropped or not) as long as it's on the same chain. The reason why some tokens do not appear on your balance is because you are using a custodial service (they may choose not to add sone custom tokens).
MEW is a non-custodial wallet and it can be used online (hot wallet) or offline (cold wallet).
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you need to know that it is not completely open sourced which means you can't feel 100% safe there as well.
MyEtherWallet is open source and here is the link to their github repo: https://github.com/myetherwallet
First of all hot wallets may not be able to receive an unknown token from the airdrop so you completely talking about airdrop thing why you are using hot wallets? MEW is easier right and you suggested trust wallet but you need to know that it is not completely open sourced which means you can't feel 100% safe there as well.
Make sure you are choosing a wallet (with private keys)
Completely open sourced.
Make sure you are choosing a wallet (with private keys)
Completely open sourced.
Learn how to avoid these scams this is the way to be two steps ahead of such schemes, how many wallets are you going to create just for participating airdrops?? If you know where are the problem is coming from you can easily fix it.
Does people still participate in airdroos and does it even still exist in 2022? Few years ago inngeneral it was waste of time, I'm wondering is it still possible to make money from it?
Yes, people do participate in airdrops in 2022 only the method of participation has changed. They generally go for CMC based airdrop which is lottery based. So only a few are able to recieve those coins and some of those coins can reach a value of more than $10 after exchange listing. I also had the assumption that people have stopped participating in airdrop but if you visit this page you will know the craze
2. Don't connect your wallet with any website, you want to sell anything? Send tokens yourself to an cex exchanges.
With the fast advancement of web3 and with the increasing number of websites and apps using it, I don't think this will be an option in the next few years. Most likely, it will become impossible to use/interact with any service/dapp without connecting your wallet which will replace the traditional way for registration and signing in (username + password).You can't just keep creating new and unique wallets for each service you use. It will be imperative for every user to learn how to spot phishing websites and scam attempts besides learning the proper ways to secure his wallets and protect his funds.
Does people still participate in airdroos and does it even still exist in 2022? Few years ago inngeneral it was waste of time, I'm wondering is it still possible to make money from it?
And yeah, your advice is good. There is simply too many sad stories how people lost their money by being not careful enough. Don't use your main wallet for airdrops
For real? I'm sure everyone on here must have heard about uniswap, ENS, 1inch, and others giving up thousands of dollars to all those that have traded on their platforms before, airdrops still pays but only 2 out of 100 that's just the case. And yeah, your advice is good. There is simply too many sad stories how people lost their money by being not careful enough. Don't use your main wallet for airdrops
Does people still participate in airdroos and does it even still exist in 2022? Few years ago inngeneral it was waste of time, I'm wondering is it still possible to make money from it?
And yeah, your advice is good. There is simply too many sad stories how people lost their money by being not careful enough. Don't use your main wallet for airdrops
And yeah, your advice is good. There is simply too many sad stories how people lost their money by being not careful enough. Don't use your main wallet for airdrops
There is a middle ground for those who are greedy and that is to use a wallet that has little money to pay gas fees:
We can resume all what you said in simple words :- Download open source wallet.
- Send little coins to that account to pay gas fees.
- Create several wallets with a balance of less than a dollar each
- Register in those Airdrop and fast withdrawal your income.
- Do not be greedy and consider this a short-term investment.
- Create a new wallet to receive airdrops from unknown sources ; Open source wallets are the best.
- Always keep a small amount in the new wallet to cover the fee of sending the airdrop to your main wallet.
On the other hand, I do not advise you to devote a lot of time to giveaways campaigns because it is really a waste of time. On this basis, it is recommended to use a separate wallet or address for these activities. Most of hopes on those giveaway tokens are lottery-like based. There are just few succssful ones and it's also a kind of gambling to spot them .
There is a middle ground for those who are greedy and that is to use a wallet that has little money to pay gas fees:
Remember that the profit that you will achieve is small and do not register with your main account.
- Download open source wallet.
- Send little coins to that account to pay gas fees.
- Create several wallets with a balance of less than a dollar each
- Register in those Airdrop and fast withdrawal your income.
- Do not be greedy and consider this a short-term investment.
Remember that the profit that you will achieve is small and do not register with your main account.
Do not use hot wallet to store your coins and still use the same wallet to participate in airdrops and other free offers, as a matter of fact I am against anything free in crypto space this days because it's a smart way of getting the best of you and your wallet.. A cold wallet is better in every way, you don't have any other ways than using hot wallet? ( Trust Wallet ).
1. Stay away from airdrops because there is no way you won't try claiming free tokens.
2. Don't connect your wallet with any website, you want to sell anything? Send tokens yourself to an cex exchanges.
1. Stay away from airdrops because there is no way you won't try claiming free tokens.
2. Don't connect your wallet with any website, you want to sell anything? Send tokens yourself to an cex exchanges.
I agree that most of people should be using hardware wallets.
However, I don't think everyone should stay away om airdrops and do not connect your wallet anywhere.
Airdrops are mostly useleess, but some people make money out of them. Personally, I made a few bucks at most... it is more like a Walter of time , but not unsafe. Unless if you give your personal informacional, then they are risky
About connecting wallets, some websites are really safe.
I used uniswap a few times, opensea, etc and you can easily connected your metamask (even using a hardware wallet) and make private transactions without any kyc.
If you are trading in ethereum blockchain, dex like uniswap are the way to go imo.
If you are using bitcoin, there aren't good options like uniswap
no other wallet is safer than cold wallets ( hardware wallet ).
Cold wallets are not limited to hardware wallets, it's simply a broad term to describe wallets which are meant for cold storage, in other words assets sent there are meant to be stored for the long term, preferably offline (hardware wallet or airgapped device). They can always receive transactions as it does not require internet connection, but should ideally only send out once.Hot wallets are wallets which are used actively for sending and receiving, example would be a trader's account on an exchange.
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