What is a wallet?

If you're interested in trading digital assets in DaiDai's NFT marketplace, you will need a Web3 Wallet. Web3 wallets are essentially digital wallets used to send, receive, and store digital assets. These can be cryptocurrencies like BNB or Non-Fungible Tokens (NFTs). These Web3 wallets can be used to interact with various dApps on various block chain. In other words, the Web3 wallet you sign up on Daidai can be used on other sites with web3 functions as well.

You will need an account with a wallet provider. This account will assign you a public address and private key.

What is a public address?

Public addresses come in the form of a string of numbers and letters that gives each wallet its unique identity. It can also be used to identify the sender and receiver of crypto. You can think of it as the web3.0 version of username or email address.

What is a private key?

Private keys are complex passwords which give access to wallets and their protected assets and allow users to send tokens from their public address. It is important to keep your private keys as safe and as possible.

What are the types of wallets?

Wallets come in many forms. They are either built into your browser, an extension added to your browser, a piece of hardware plugged into your computer or even an app on your phone.

Desktop/Mobile

Software that connects to the Internet as a solution to processing blockchain interactions. This is the most common type of wallet and may come in the form of a browser extension or mobile application.

Ex: Metamask, Torus, MyEtherWallet, Coinbase, WalletConnect, MyEtherWallet, Fortmatic

Hardware

A piece of hardware that is built to keep your crypto secure via a physical medium. These will usually come in the form of a USB device. They can stay offline and be kept somewhere their user feels it is safe, while still being able to go online when the user would like to engage with the blockchain to store assets or manage funds. This usually involves plugging the device into a PC.

Ex: Ledger, Trezor

How do I keep my wallet secure?

• Never share your private key or wallet password.

• Store your private keys somewhere safe that you will not forget. Losing access to your private keys means losing access to any digital assets protected by the associated wallet forever.

• Pay attention to where you are signing transactions and connecting your wallet. A malicious website that you connect your wallet to can clean out the entirety of your assets.