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Address: An address is a cryptographic string of text that represents your account on the blockchain. It serves as a unique identifier and can be safely shared publicly. You can use the address to send and receive funds to and from your wallet.
Private keys: A private key is the counterpart to an address. Each address has a corresponding private key, which should be kept private and not shared with anyone. It functions like a strong password, allowing you to prove ownership of your address and make transactions from it. Sharing your private key can lead to unauthorized access and potential theft of your funds.
Seed phrase: A seed phrase acts as a master password for your crypto wallet. It is like a password manager that securely stores multiple blockchain accounts. When you create a wallet, you receive a seed phrase that should be securely stored and backed up. This seed phrase can generate multiple accounts with their respective private keys and addresses. It is important to safeguard the seed phrase as it grants access to all accounts linked to it.
Crypto wallet: A crypto wallet is a tool for managing your accounts and their private keys. It allows you to interact with decentralized applications (dApps) and acts as a single sign-on for blockchain-based applications. Popular wallet options for Ethereum include Metamask, Coinbase Wallet, Trust Wallet, Atomic Wallet, Rainbow Wallet, Frame.sh, and others.
Setting up a wallet: To start using Ethereum, you can choose from various wallet options. Metamask and Coinbase Wallet are user-friendly and developer-friendly choices. Other alternatives include Trust Wallet, Atomic Wallet, Rainbow Wallet, Frame.sh, and more.