---
# System prepended metadata

title: 'Chapter 2, Section 4: Staying Safe In Web3'
tags: [Chapter 2]

---

# Chapter 2, Section 4: Staying Safe In Web3

###### tags: `Chapter 2`

The web3 space is notorious for hacks and scams.

But staying safe in Web3 is simple: Don't give scammers access to your wallet!

**Private Keys**
NEVER reveal your private keys online or even IRL. Same goes for your [[seed phrase]].

**Executing Transactions**
If you interact with a malicious contract, your wallet is as good as drained.

Always be wary of requests which require you to pay [["gas" fees]] to execute them. 

However, signing a [[signature request]] poses no risk.

**Buying A Hardware Wallet**
Most beginners start out with software wallets, which are free.

If you have a decent amount of money in crypto, you should consider getting a [[hardware wallet]].

## Terms To Nutshell
1. Seed Phrase

Your wallet's seed phrase is a 12-word or 24-word combination. It is your wallet's master password.

The seed phrase can be used to generate a new private key in case you lose your password.

As such, the seed phrase is also known as  "recovery phrase". 

2. Gas Fees

Gas Fees are network fees in a blockchain, which are incurred whenever interacting with the blockchain.

By paying gas fees, it confirms that you are adding *something* to the blockchain.

"Gas" is a specific term to the Ethereum blockchain. Some other blockchains use the term "transaction fees".

3. Signature Request

Signing a signature request is a wallet verification test, authorizing your wallet to perform tasks on a website.

Signing signatures do not interact with the blockchain.

Intuitively, you should not be paying gas fees when signing a request. If so... something smells fishy!

4. Hardware Wallet

A hardware wallet is a physical device which stores your seed phrase.

Upon signing messages, interacting with the blockchain, etc., you would need to physically confirm the action on your hardware wallet to execute it.

As such, hardware wallets give an added layer of security to your crypto.