NFT or non-fungible tokens are growing commodities and digital assets in the blockchain and crypto space. The same way you protect your cryptocurrencies, you must secure your NFTs against theft or copying . In this guide, we show you how you can protect your NFTs.
ContentsHow to protect your NFTs from theft or copying1]Opt for a noncustodial wallet2]Cold storage3]Deal wisely with potential buyers4]Only use reputable marketplacesHow to store NFTs?Can anyone steal your NFT?
You can protect your non-fungible NFTs or Tokens against theft or forgery, as follows.
Let's get into the details of each.
Non-custodial wallets are a secure way to store your NFTs. They are protected with a 12-24 word seed phrase and also a combination of Touch ID and custom passwords. Instead of storing your NFTs in the wallet of the exchanges you use, it is recommended to stack them on the non-custodial crypto wallet.
Even non-custodial wallets can be hacked if you are not careful using many methods such as malware, keylogging and phishing scams.
To fully protect your non-custodial portfolio,
Cold Storage is nothing but an offline and external derivative which cannot be connected through the internet or accessed by hackers through the internet. It keeps your digital assets like NFTs out of reach of hackers and thieves. The only setback of Cold Storage is that you have to connect the Cold Storage authority each time you want to perform a time-consuming transaction.
Many people on the internet contact you with lucrative offers. You need to have a clear opinion and a gauge on the market situation to analyze the person. A scammer could be behind a lucrative offer you receive. Do not share the accessibility of your wallet with anyone, as a transaction can never be traced or reversed on the blockchain.
As the crypto and NFT business booms, many markets have sprung up. Many of them are bad at providing security and protection to users against theft or scams. You should only use reputable NFT markets to transact with your crypto wallet and NFTs. Analyze the level of security offered by a market before signing up with them.
These are the ways to secure your NFT from scams and copying.
You can store your NFTs on your wallets on Marketplaces as well as Cold Storage derivatives. Generally, it is not recommended to store your wallets connected to marketplaces because they can be easily hacked.
Absolutely yes. Many NFT scams happen every day on the internet. You have to be careful with the type of people you deal with. You should secure your NFTs in Cold Storage or non-custodial wallets.
