For people who have dived into Defi projects because of the huge opportunities it presents, especially when it comes to passive rewards, it will be a good practice to have a separate wallet for your Defi transactions and another wallet for Hodl your crypto assets.
Why is such practice relevant?
- When we interact with decentralized projects, we deal with Smart contracts. Statistics have shown that some smart contracts are fraudulent and can go a long way in stealing people's funds without their help. This is possible because we give Smart contracts permissions to our wallets when we interact with decentralized exchanges. The permission can be limited or unlimited. It is then advised not to have other tokens in the wallet that you are using for Defi transactions, me it staking, yield Farming, buying, or selling of crypto assets. It is better to buy and sell with one wallet and then move the fund to another wallet solely meant for holdl.
2 If you have all your crypto assets in one wallet, and if the wallet is compromised, you will likely lose all your assets but having multiple wallets helps you to avoid losing everything.
However, for those who are just buying from centralized exchanges and Hodl for the long term, there is little or no need to have separate wallets.
What is CryptoHelpDesk About?
CryptoHelpDesk is a project that wants to bring a platform for both Crypto experts and newbies to come together and assist each other in various ways. The Hive community has made many sub-communities available for newbies so that their journey in the Hive community won't be a difficult one. However, most of these communities provide guides to newbies based on Hive-related services. It becomes difficult for newbies who are entering the crypto world through the Hive blockchain to understand other crypto-related services outside Hive.
Most crypto experts have also passed through some challenges in their day-to-day interaction with the crypto world and were rewarded with knowledge and experience. Shortly, some other crypto lovers or newbies may likely face a similar challenge and will overcome it easily, if they have read from persons that have passed through the same challenge.
I believe that having such a platform where oldbies in the crypto sphere can share their experiences both the sad and the good ones, a place where newbies are provided with a daily thread where they can easily come and ask "any" crypto-related question, a place confined to crypto and NFT related information, where relevant tips are shared for general growth, will be very helpful to the Hive community.