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How to Keep Your NFTs Safe

Jaiya Gill
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How to Keep Your NFTs Safe

You’d never leave your physical wallet lying around. The same can be said for your crypto wallet. Transactions on the blockchain are irreversible, so making sure your tokens are stored safely is of the utmost importance.

Here’s how you can keep your NFTs safe:

Never share your seed phrase or private key

It may sound obvious, but you can never hear this enough. Anyone with this phrase has access to your crypto funds and your NFTs. It’s meant for your eyes only. This is how you authorize and sign transactions to prove that you’re taking an action (minting, transferring, sales, etc). Just as important as not sharing it, make sure you don’t lose your seed phrase! Write it down somewhere secure or use a hardware wallet. For more on how to keep your wallets safe see (link wallet safety article).

Use a hardware wallet

Using a hardware wallet adds another layer of security to your NFTs, and if you have a significant number or value, it might be worth going a step further. Hardware wallets protect computers from compromise by storing your seed phrase completely offline. It also adds additional layers for bad actors, where they would need physical access to your hardware wallet, and it doesn't work without the PIN. The most popular ones are Ledger or Trezor. Make sure you keep this in a safe and secure spot!

Look out for common scams

These are some common scams to look out for:

Avoid fake minting pages

Usually, during highly-anticipated drops, there can be a number of fake OpenSea pages that pop up for the same collection. With limited time and excitement, some people will rush through and forget to verify where they’re minting from. Also, any mention of a 3rd party asking you to share your seed phrase is a scam.

Avoid fake links

Never click on any “fake” links sent via direct messages on Twitter or Discord from someone you don’t know. These messages take seconds to send but can do a lot of damage when you give the right information to the wrong people. Impersonation of popular or trustworthy accounts is another popular scam to make it look more real when DMing suspicious links. Always double-check handles and who’s following the account.

Avoid fake airdrops

Your wallet address is public to anyone and with ENS domains becoming more popular and NFTs existing on the blockchain, it’s easier for bad actors to interact with your account. They might airdrop NFTs to your wallet that can access your personal information, so it’s best not to interact with any new unexpected NFTs.

Use two-factor authentication and strong passwords

Enable two-factor authentication with apps like Google Authenticator and make sure to use unique passwords. Never reuse passwords across multiple accounts.

DYOR

Always do your own research before doing anything on the blockchain. Research the collection, the seller, the NFT, the NFT’s history, the contracts, the links, and all other details.

Always stay cautious, because one oversight may mean the difference between you and your NFTs in someone else’s wallet.

Stay safe out there!

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