Web 3 can be rather intimidating when you are just starting out. This will be a directory with resources to help new investors be able to safely and securely onboard money into Web 3 and start exploring the world of blockchain and cryptocurrency. Be sure to read through the Safety and Security document fully to ensure that you are up to date with the best practices as you begin your journey through the cryptoverse.
Web 3 Wallets
In order to participate in Web 3 you will need a wallet that is able to interact with the blockchain.
There will be two routes that The Guardian Academy (TGA) recommends when getting into Web 3 for the first time.
- Sequence Wallet: Fastest, easiest, and safest for beginners or first time Web 3 participants.
- MetaMask– The most common.
We recommend these two because they are easy to troubleshoot and can both be accessed with desktop easily.
How To Install Sequence Wallet
Learn More About Sequence Wallet
If you’d like to learn more you can visit their documentation here.
Be sure to to add 2FA to your email accounts/social media if you are using this to login with your Sequence Wallet. As your logins to those platforms are your keys to your Sequence Wallet and the risks of hacks come from someone else gaining access to those accounts. We do a deeper dive on safety and security best practices, which will be linked at the bottom of the article, but you can also utilize this guide from Sequence Wallet if you are looking to just set up 2FA on your platforms.
How To Install MetaMask
Learn More About MetaMask
This is what many would consider the most common wallet for integration with blockchain technology and Web 3. It requires more knowledge about the interactions of blockchain and you will need more steps/applications in order to onboard your money to get started in the Web 3 world.
How To Set Up Different Networks (For MetaMask)
If you opted for a Sequence Wallet you do not have to worry about this step as Sequence configures it for you.
This video will help you add BNB Chain (formerly BSC), Polygon, and Fantom Networks.
Funds that are on one network (ex. Polygon) will not show up on another network (BNB Chain). This would be the equivalent of why your Chase bank account balance doesn’t show on your Bank of America account.
How To Purchase Crypto [Sequence Wallet]
If you have a Sequence Wallet you can link a Debit Card or Credit Card to your wallet to make purchases of Cryptocurrency (depending on geographical location). The video below starting at [2:30] will give you a visual representation.
Adding Funds With Sequence
By clicking on “Add Funds” you’ll be brought to the image below where you can utilize various providers to onboard money. You will be purchasing USDC or “US Dollar Coin”. This will be a Cryptocurrency utilized on the blockchain that is pegged to the US Dollar.
You can preview each one to see which provider you prefer or works with your geographical location.
Swap Assets With Sequence
Keep in mind the default network for Sequence is the Polygon network. If you need to be on another network you will need to change the network you are purchasing on.
Once you have your funds in your wallet (should be USDC if you are brand new). If you would like to swap out the asset for another asset you would press the “Swap” button.
Select your asset in the “From” field as well as the “To” field. In this example I am swapping MATIC to GUARD.
Input the amount you’d like to Swap and it will automatically calculate the amount of the other asset you’d be receiving. Once you are certain of the amount press “Swap”.
The last step before your transaction is complete is to verify the details once more and when everything looks good, press “Confirm”.
Once the transaction goes through (sometimes may take a bit of time) you should see the new balance of the asset you purchased in your wallet home screen.
How To Purchase Crypto [Centralized Exchange (CEX)]
If you are using MetaMask or any other wallet besides Sequence you will need to onboard money onto a Centralized Exchange and swap it for the Cryptocurrency you wish you purchase. TGA recommendation is to not store your Cryptocurrency or money for a long term on any CEX.
How To Purchase Ethereum ($ETH)
This will be an example of converting US Dollars to $ETH. You can substitute $ETH for any asset you wish to purchase that is available on the CEX. Each CEX can have different assets that are available.
Non Fungible Tokens (NFTs)
There are three routes that NFTs can be attained:
- Purchasing it from a mint or secondary market.
- Farming for it.
- Being air dropped (having someone send it to you).
Purchasing From A Mint
Here is an example of minting a NFT through a project’s minting site. Be careful with this and only mint from sites/projects that you trust and have done your research on. Connecting your wallet and or giving permission to a contract that may have been written with malicious intent is an easy way to get scammed in Web 3.
Purchasing From A Secondary Market
The biggest secondary market at the time of this writing is OpenSea.
OpenSea allows for users to purchase and sell their NFTs with other users. Here is an example of how this can be done with Wolf Pups.
Farming For NFTs
TGA NFTs are currently on the BNB Chain Network
Safety and Security
This is a resource that we highly recommend you read fully. It will be impossible to fully prevent all scams and hacks from occurring. What can be done though is to make yourself a much harder target so that scammers and hackers deem you to be too much work and end up moving on to someone easier.