Concrete slabs, otherwise known as poured concrete, are dense, and generally a dry bit will not work to cut them. Instead, cutting a concrete slab requires a wet core drill system, which keeps the drill bit wet with water or oil so that it doesn’t overheat while cutting through the slab.
As a general rule, dry core bits are reserved for easier-to-cut, less dense material, such as concrete blocks. Concrete blocks are much easier to cut than concrete slabs, and as a rule the core bit will not heat to the point that it damages the tip of the drill as it goes through concrete block. Different blocks have different densities, however. If in doubt, ask a contracting specialist whether your type of basement wall can be cut with a dry bit. If you prefer, you could try drilling through it with a dry bit first and see if it works, and switch to a wet bit if it won’t cut easily with the dry bit.
You can core drill any size hole you need through a basement wall, but keep the drill's size in mind. While a normal hole up to a few inches in diameter, such as for pipes, can be created using a normal rotary hammer drill with the bit slotted into the tip of the machine, specialty core drilling machines are needed for larger holes. They also are needed to drill holes through particularly thick slabs, such as those in commercial buildings where the basement is more than just a few inches thick.
While safety gear is important in any type of situation in which you use power tools, it is important that you use all of the relevant gear when drilling though concrete. Safety glasses, work gloves and earplugs are necessary, but the most important piece of gear is a proper breathing mechanism. Wearing a simple dust mask is not sufficient for core drilling. Instead, the work requires wearing a full respirator mask with filters that are rated for concrete cutting to protect you from the dust.