Exercise 5: Wallet Setup and Security Practice

⏰ Time Investment: 45-60 minutes 🎯 Goal: Practice wallet setup and security

📚 Required Reading Integration 📖 Primary: Lesson 5: Wallets and Self-Custody

🔍 Phase 1: Knowledge Check (15 minutes)

1. What is the difference between a public key and private key?

• Your answer: _________________________________

2. What is a seed phrase and why is it critical?

• Your answer: _________________________________

3. What is the difference between hot and cold wallets?

• Your answer: _________________________________

4. When should you use a hardware wallet?

• Your answer: _________________________________

5. What happens if you lose your seed phrase?

• Your answer: _________________________________

📊 Phase 2: Security Checklist (20 minutes)

Create a security checklist for:

• Setting up a new wallet

• Storing seed phrases

• Daily wallet usage

• Long-term storage

💡 Phase 3: Scenario Practice (25 minutes)

Practice scenarios:

• Setting up MetaMask (testnet)

• Understanding seed phrase backup

• Identifying phishing attempts

• Best practices for different use cases