In the past year, the term NFT has been thrown around quite a lot, with several people jumping on the bandwagon to the future. With the decentralization of blockchain technology and the transparency that NFT marketplaces provide, there is less room for data loss and human error. However, no system is a hundred percent foolproof. Often, scammers operate by targeting your wallet. That’s where this guide comes in to help you safeguard your NFTs.
So how do I keep myself safe?
NFT marketplaces provide a platform for NFTs to be bought and sold, and these tokens can then be stored in a digital wallet for safekeeping. Now, as we’ve already established, decentralization comes with state-of-the-art security features. However, that may not always stop scammers trying to take advantage of newer users.
Fortunately, with a few small precautions, you can ensure that you don’t fall prey to wily scammers and phishers.
First, use unique passwords. If we had a dollar for every time we’ve heard this, we’d all be billionaires by now! But the advice ALWAYS holds true. Make sure your login credentials cannot be guessed by anyone with access to basic details of your life.
Software wallets are secured with a 12 to 24 word seed phrase. Be ever-cautious and do not disclose yours under any circumstances. Even better, use a cold-storage hardware wallet if you can.
Beware of random links, giveaways, and NFT airdrops. If you cannot verify the source, RUN. Double check the domain link for misspelt words and make sure that the website you’re visiting is legitimate.
Closing thoughts
These are just a few basic tips to get you started on keeping your NFTs safe. Buying and selling NFTs are a great way to keep you going financially. But you don’t buy a mansion only to leave the gates open. So take the time today to protect your digital assets from any sort of attack.
Comments