Web3 Basics

What is cryptocurrency in simple terms?

• Cryptocurrency is a digital virtual currency that exists only on the internet, using cryptography to ensure security and decentralization. It has no physical form, and its value is not determined by governments or other financial regulatory bodies. Instead, its value is determined by users and later the market. Cryptocurrency is secured by blockchain technology — a chain of informational blocks where each transaction is recorded, making it transparent and protected from forgery.

What is it used for?

• Cryptocurrency is a convenient way to store and transfer valuable assets without banks or other intermediaries worldwide, resulting in much faster transaction speeds and lower fees for transfers and other operations. It is also used for various purposes:
  • fast fund transfers (including abroad),
  • payment for goods and services,
  • creation of decentralized applications,
  • investments.

Why is it safe to use cryptocurrency?

A high level of security is ensured because information in each block is encrypted, and blocks are linked in a chain. The system has other features that guarantee transaction security:

• unique addresses are used for fund transfers,
• the system generates addresses for each operation,
• transactions are open and transparent, but it is almost impossible to link the data to a specific person and their location,
• transactions are conducted instantly and cannot be intercepted,
• address authenticity is verified using encryption keys.

There are public and private keys. A public key is the user's wallet address and is publicly available. A private key is a cipher known only to the wallet owner. The keys work as follows: one user encrypts the cryptocurrency using the public key, and the recipient uses the private key to open the "letter."

Why Palmeme?

Palmeme is a revolutionary and secure platform for receiving cryptocurrency donations. The platform works not only with native currencies like BTC, ETH, or TON, but also with meme-coins in popular networks. Palmeme provides everything for your comfort and security:

• Flexible configuration of cryptocurrencies and widgets.
• Financial management in the dashboard.
• Transaction masking for your anonymity.
• Instant withdrawals to specified wallets.
• A secured protocol for managing your finances.

How to start earning with Palmeme?

We are glad you chose our crypto donation service.

1. To start using Palmeme, create your personal account by authorizing through your chosen streaming or other platform.
2. Create a crypto wallet on the TON blockchain, such as Tonkeeper or My TON Wallet (link to wallet creation instructions).
3. Connect your created wallet to Palmeme in your dashboard.
4. Copy and add your generated QR code and donation link to your streaming page or other chosen service.
5. Receive donations from users in cryptocurrencies supported by Palmeme with minimal fees.
6. Withdraw your funds to your chosen crypto wallet.
7. ???
8. PROFIT!

Common mistakes inexperienced users make when working with cryptocurrency

1. Ignoring security rules. Security is key when working with cryptocurrency. New users often neglect protecting their data, failing to save their seed phrase or not using two-factor authentication (2FA). This increases the risk of account hacking or loss of funds. Always store your seed phrase safely and take all necessary precautions.

2. Sending funds to unknown users. For investments and payments for goods and services, only use verified platforms designed to minimize fraud risks. Do not risk your funds and do not trust strangers or dubious services.

3. Signing malicious transactions.

   1. Phishing links and authorization on suspicious platforms. Users may receive suspicious links disguised as trusted platforms offering to buy something (e.g., NFTs) or claiming they have won a prize they did not participate in. Always verify links and do not authorize unless you are sure of the platform's authenticity.
   2. Signing permissions and transactions on unknown or dubious platforms and Web3 services. Avoid connecting your wallet to apps unless you are confident in their safety.
   3. Beware of suspicious "gifts" and "airdrops" — spam tokens and NFTs. If you receive unknown tokens or NFTs, mark them as spam immediately. They may contain malicious smart contracts known as "drainers" — scripts designed to steal funds once a user interacts with them.

4. Do not use Face ID to sign your transactions. This technology is risky because malicious links may open a transaction confirmation window, and you might swipe to approve it instinctively without realizing it. Muscle memory can work against you. To stay safe, use PIN-code transaction signing, which can be configured in your crypto wallet app.

After creating your crypto wallet, we recommend the following tips for its safe use on our service:

1. We recommend using a new crypto wallet that has not previously connected to any applications or smart contracts to ensure the safety of your funds.
2. Create a backup of your seed phrase (a list of words in a specific sequence).
3. Never share your seed phrase.
4. Use two-factor authentication (2FA).
5. Do not connect your Palmeme wallet to third-party services, apps, or grant permissions, as they may contain malicious smart contracts.
6. You can withdraw your funds from your Palmeme-connected wallet directly to your main crypto wallet after the platform processes the payout.
7. Regularly update your device's software and security protocols.

If you fail to follow these recommendations, the Platform is not responsible for the security and safety of your funds and assets.