Thank you for attending the lecture in Steemit-Crypto-Academy & doing the homework task-3.

The benefit of Centralized Wallet is that if you lose your password, your assets are still safe. Account can be recovered through verification of identity and email and if you have a backup of 2FA code or the 12-word backup recovery phrase.

In the case of an Exchange wallet, it does not give access to the private key/seed key of the coins. You gain access to such a wallet using Login credentials (EMail/OTP/2FA). So you need to make sure that you are in good standing with your registered Email, registered Mobile Number, and 2FA backup code.

In the case of a decentralized wallet, you need to make sure that you have created an off-line backup for your private key/Mnemonic keys. Here only your private key can recover your asset.

I am currently using Tronlink Pro because Steemit offers the chance to also receive rewards as Tron. I am yet to explore the Dapps available in the wallet. As I advance in my crypto knowledge I'll ensure to explore the Dapps and utilize them for my benefits.

All the users in Steem Blockchain are now earning extra rewards in TRX for every SP earned. So you are all familiar with TRX rewards. So you might have used TronLink Wallet also. That is an ideal example of a web 3.0 wallet. It is seamlessly integrated with dApps, the interaction with such a dApp is powered by Smart contract. When you interact with any such dApp, it will prompt you to sign a transaction. At any given time you remain in absolute control.

Thank you.

Homework Task -3
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