Lesson 1: Will the cryptocurrency ever disappear?

Why does this lesson matter?

To handle cryptocurrency, you always need a wallet no matter what you do. However, in order to handle a wallet, specialized knowledge is required. If you do not have the correct knowledge of wallets, you run the risk of losing your cryptocurrency. Let's start by learning about the dangers of losing cryptocurrency in lessons 1 and 2.

What you can learn in this lesson

  • Hacking cryptocurrency and how to avoid it (hot wallets and cold wallets)
  • Cryptocurrency security

Is it true that cryptocurrencies can be hacked?

As cryptocurrencies are digital currencies, they are always at risk of being hacked.

In the past, there have been a number of incidents where cryptocurrencies were actually hacked and stolen.


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How to prevent hacking of cryptocurrencies?

As we will learn in detail in Lesson 4, cryptocurrency wallets exist in two states: "hot wallets" that are connected to the Internet and "cold wallets" that are not connected to the Internet.

Since it is impossible to hack into something that is not connected to the Internet, a cold wallet that is not connected to the Internet is the best choice to prevent damage from hacking.


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How to handle cryptocurrencies

Again, cryptocurrency is a digital currency and does not exist in substance.

As such, it can be easily erased in the same way that emails and photos can be.

In other words, if you mishandle it, there is a good chance that you could unintentionally lose it.

When handling provisional cryptocurrencies, it is advisable to keep the amount to a small amount until you become familiar with handling them after you have acquired sufficient knowledge.


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