HOW TO SET UP AN ETHEREUM WALLET? – PART 6
In the world of Internet security, we often assume that anything that touches the Internet, anything connected to the Internet like a phone or computer can be compromised because the Internet is a very dangerous place. Anyone can hack into your computer, anyone can track everything you type, any document on your computer, and so on. With that in mind, nothing on your computer is safe. And what they say is that you should keep your seed phrase in a physical location like your home safe, bank safe, things like that, where only you have access, but also somewhere where you won’t lose it because if you lose the key to your house in this digital world, you’ve lost everything, there’s no way you can get into the house this again. The important thing is that no one else has access to your secret recovery phrase, your seed phrase, or your private key and that you don’t lose it yourself, both of which are very bad, game over so that’s the most important part of the advice.
There are a lot of scammers out there and we will talk about this sooner. Lots of people are trying to take your seed phrase away from you. They will try to trick you, they will tell you that you need to show them the screen, you need to give them your secret phrase, you need to give them your private key, all that this. It can be confusing at first because your private key looks quite similar to your publish key.
But, you must understand in any case, you don’t need to give your house keys, your seed phrase, or your private information to any other individual. If you do, game over and you lose everything. Take a look at your secret recovery phrase.
In this case, we can see it. It’s only 12 words: rent, layer, cigar, end, clinic, hire, vibrant, together, want, frozen, huge, jump.
Twelve completely random words. In real life, I would never want to show it to anyone. This is not a real private key, a public key. I won’t put anything serious here. Tip: write your recovery phrase on a piece of paper and hide it in different places in your home. If anyone has access to these 12 words, they can take all the money you have, all NFT, all Ethereum, and everything else.
HOW TO SET UP AN ETHEREUM WALLET? – PART 7
It will now ask you to confirm your secret recovery phrase. Let’s put them in and see if we can take the next step here.
But again, I want you to note that this is the single most important thing you can do in your Ethereum NFTs journey, in your entire career on the blockchain, is to keep your private key safe and never lose it and that’s the same thing as a seed phrase. Please click ‘Confirm’. Congratulations, you passed the test!
Keep your recovery secret safe. That is your responsibility. Here are some tips
⦁ Save a backup in multiple places.
If you lose one, you don’t lose all
⦁ Never share the phrase with anyone.
⦁ Be careful of phishing! MetaMask will never spontaneously ask for your Secret Recovery Phrase.
Lots of sites where they try to pretend to be MetaMask. They gave you a fake pop-up that looked like MetaMask. And it will say, Hey, you’ve lost the information. You need to enter your secret recovery phrase. Whenever someone asks for your secret recovery phrase or seed phrase, think twice and be extra careful. In this space, a lot of things have FOMO, Fear of Missing Out. You’re going to want to try to jump into things at the last minute, it’ll say, Hey, this minute is about to end. You need to get this NFT, now. For the next 3 seconds, you try to go, you try to rush away. You are trying to get this. And that’s when people get scammed. That’s how all the scams have happened in this space. They are trying to trick you into acting very quickly. Whenever someone asks for your seed phrase, your secret recovery phrase, your private key, any of that, think twice, slow down, really remember, make sure it’s legal, and make sure you have a good reason to do it. And in 99% of cases, none. So don’t give out your secret phrase or your seed phrase or your private key to anyone else.
⦁ If you need to back up your Secret Recovery Phrase again, you can find it in Settings -> Security
⦁ If you ever have questions or see something fishy, contact our support here
⦁ MetaMask cannot recover your Secret Recovery Phrase. Learn more.
HOW TO SET UP AN ETHEREUM WALLET? – PART 8
Now, we can find ourselves in our Ethereum Metamask wallet.
First, you can see here it says account number 1 and then says you can copy to clipboard this address. Now, this is your public key.
This is safe to give to anyone. This is the address of your home. That is your wallet address. That’s how people can know how to send you money, how to send you NFT, and how to send you anything that looks like your real-world address. That’s how people know how to send you letters. This is safe and you can give anyone.
It starts with ‘Ox’ here, which is a string of random numbers, you won’t remember that. So every time you can just copy it.
That’s why it’s easy for them to copy it to the clipboard and things like that. Now let’s get into some more advanced settings and we’ll show you things that you should never give others.
If you go to the top right corner, you can see the little icon here, you can change that. You can click on Settings.
If you are going there you can see there are a few different tabs, and one of them is called Security and Privacy. Here you can see it says Reveal Secret Recovery Phrase and this is something you never want to give anyone.
It gives you a warning ‘Do not share this phrase with anyone! These words can be used to steal all your accounts’. Keep it safe, these twelve secret words.