- Seed Phrase
- A "key backup" made of 12 or 24 words. Whoever holds the seed phrase owns the wallet — which is why it is the ultimate target of every scam.
- Private Key
- The ultimate key derived from the seed phrase, used to sign transactions. Just as confidential as the seed phrase — never share it either.
- Hot / Cold Wallet
- A hot wallet lives on internet-connected devices — convenient but high exposure. A cold wallet lives on offline devices (hardware wallets) — safer but less convenient. Keep large amounts cold, small amounts hot.
- Approval
- Allowing a contract to spend your tokens. The limit can be set to unlimited. Every approval is worth three seconds of scrutiny.
- Signing
- The act of confirming a transaction with your private key. Signing = authorizing a payment. If you don't understand the signing request, don't sign it.
- Chain ID
- The number that distinguishes different chains (Ethereum = 1, BNB = 56, etc.). Cross-chain phishing often tampers here. Confirm the chain in the popup is correct before signing.
- Checksum Address
- The mixed-case convention for Ethereum addresses. Fake addresses can mimic the appearance of real ones. Verify at least the first and last 8 characters when checking.
- Multi-sig
- A wallet that requires multiple parties (or keys) to co-sign before transferring funds. One person's compromise doesn't mean all assets are lost.
- Airdrop
- Free token distribution by a project team. A real airdrop never asks you to pay any fee or provide your seed phrase — anything that does is a scam.
- MPC Wallet
- Splits the private key into fragments held by multiple parties, no seed phrase exists (e.g., Zengo). Losing a phone doesn't mean losing your wallet.