🔥 Essential DeFi knowledge: testnet interactions
The private key for the same wallet works on both testnets and mainnet. If a phishing site tricks you into switching to mainnet to sign a transaction, you could lose real assets.
A legitimate testnet faucet will never ask for your seed phrase or private key, or require you to transfer mainnet assets first.
ETH on a testnet is just test currency; it’s not the same as $ETH on mainnet. Currently 2124.87.
Have you run into similar traps? Share your stories to help others stay alert.
The private key for the same wallet works on both testnets and mainnet. If a phishing site tricks you into switching to mainnet to sign a transaction, you could lose real assets.
A legitimate testnet faucet will never ask for your seed phrase or private key, or require you to transfer mainnet assets first.
ETH on a testnet is just test currency; it’s not the same as $ETH on mainnet. Currently 2124.87.
Have you run into similar traps? Share your stories to help others stay alert.