Work in Progress
Seed Phrase or your Secret Recovery Phrase is the 12 word sequence that is needed to access your wallet.
For Comparison, your Seed Phrase serves as both your Email and Password when compared to the typical account creation in Web 2. Since, Blockchain is Anonymous, and emails and KYC are not needed, your seed phrase is the only thing that links you from your crypto wallet.
Giving anyone your seed phrase means giving them access to everything in your wallet. For this reason, you should never share your seed phrase with anyone. No legitimate person or websites will ask for your seed phrase.
A burner wallet is basically a "Throw-away wallet", whose sole purpose is to manage the risk of a user's main wallet from getting scammed by serving as a connection between the main wallet and a separate entity (e.g a website / a smart contract).
A burner wallet can simply be created by creating a new account in your metamask extension. By doing this, metamask gives you another wallet address that you can use, instead of your main wallet, to connect to malicious websites or interact with smart contracts which you do not have 100% confidence on. By doing this, you prevent these contracts to send transactions (which you might accidentally approve and is dangerous if the contracts involves taking away all your assets) directly on your main wallet where all your assets are stored.
Reading goes a long way. In this case, reading becomes a very important part.
When Interacting with any kind of wallet transactions, always read what you are signing. These transactions will have a short explanation of what actions you are allowing a website to do with you wallet, always read this.
One main purpose of Blockchain Technology is to get rid of the biggest middleman in cash transactions - the bank. This is because the bank have the authority over your assets once they have it. They can freeze your account if they want, and if they go bankrupt you can lose your money.
Getting your assets stolen is worse than getting them stuck. As much as possible, do not use a middleman unless a middleman is vouched by a trusted official. If you can, just buy NFTs in the marketplace, where it is secure.
If you are using a middleman to save marketplace fees, try to weight the pros and cons. Is the marketfees high enough for it to be worth the risk to use a middleman? Heck, isn't it a higher risk if you use a middleman for something that worths that much?
Also If you observe any kind of red flags when transacting, withdraw from the trade immediately.
Paying fees in Gas is a lot of money saved compared to paying the price for a mistake that you knew you shouldn't have made.
Who are the developers? Are they doxxed? Do they know what they are doing? Are they smart? How popular is this project? How many people follows their socials? How much of them are active? Who are the other people who believes in this project? Who are the Partners? How did their partner? What is in it for the Partners? What have they built so far? What are their plans? Is it realistic? Is it attainable? Where is the paper? What do you like in this Project? What is their vision? What is their mission? Is this a scam? Is this a cash grab?
What do I think of this project?
There are hundreds, if not, thousands of projects getting started in crypto. But only a handful that may succeed. You can diversify, but at least, pick those that you think are one of the best.
You may regret missing out, but you will never regret avoiding a loss.
Ask others for insights but create your own decisions. If you win, it may be because you've done your research, if you lose, it may be because you did not research enough.
Discord is the most used platform for NFT Projects. As a result, a lot of scammers have became active on the platform, trying to exploit / hack / scam people.
Here are some ways on how you can protect yourself in Discord
Go to user settings -> Privacy & Safety -> Click "Keep me safe" -> Tick off / Deactivate "Allow direct messages from server members"
A prompt may pop-up that says "Do you want to also apply this change to all your existing servers? You can disable direct messages on individual servers by visiting that servers settings page.
The decision is up to you, but I recommend clicking "Yes" which will automatically disable people on the same server as you from sending you a direct message
Additionally, You can also disable people from adding you as a friend in the same section in user settings.
a Discord ID is a unique Discord Identification Number. It is a number that is assigned to every discord account when they are created. This is Unique or Different to every discord account and is also unchangeable.
Because Discord IDs are Unique and Unchangeable, it can be used to Identify users and to effectively differentiate real users from Impersonators.
To get everyone's Discord IDs you need to first activate Discord's Developer Mode.
Go to User Settings -> Scroll Down and Go to "Advanced" -> Activate "Developer Mode"
After this, you can get a user's ID by right clicking their profile and clicking "Copy ID"