10 Tips for Staying Safe in the NFT space
- Get support via official channels. …
- Use Two-Factor Authentication (2FA) Enable two-factor authentication with apps like Google Authenticator and Authy, and avoid SMS 2FA where possible since it can be vulnerable to attacks.
- Use a crypto hardware wallet. …
- Limit smart contract approvals. …
- Ensure you have verified links before clicking them—never click on random or broken links sent by unknown sources.
- Never share your screen.
- Before minting anything, make sure to check the contract address, which should specify where the NFT was minted.
Where do you store your NFT?
Cold Storage Hardware Wallet Known as the best and most secure way to store your NFTs, cold storage hardware wallets provide the most security for your digital assets because all of your sensitive data is stored offline. Furthermore, all of your data is password-protected to provide an additional layer of security.Feb 14, 2022
Can you lose an NFT?
Not really. You can lose your NFTs if you’re not careful. NFTs are becoming one of the hottest trends. It’s a piece of internet everyone’s showing interest in, not just the tech geeks.Dec 17, 2021
Can NFTs be hacked?
World’s largest NFT (non-fungible token) marketplace, OpenSea on Sunday confirmed that it has been hit by a phishing attack and at least 32 users had lost their valuable NFTs worth $1.7 million. OpenSea Co-Founder and CEO, Devin Finzer acknowledged the phishing attack, confirming that 32 users have lost NFTs so far.Feb 20, 2022
Can someone copy my NFT?
NFTs are “non-fungible tokens”, meaning they represent digital assets accompanied by a certificate of authenticity, and are stored on the blockchain. With NFTs, interchangeability is impossible, which means it’s a unique element that cannot be switched for another one, even if they hold the same value.
Can someone use my NFT?
Spoiler alert: If you came here simply to learn whether an NFT can be stolen, the short answer is yes.Jan 15, 2022
Can you screenshot NFT?
In fact, while the digital file itself can be copied — that is, the digital image, audio, or video clip — the NFT cannot.
Does Trust Wallet work with NFTs?
Yes . The Trust Wallet does support NFTs. On top of that, the wallet in question does also support a wider variety of blockchains , not just E…
Do all cryptocurrency wallet support NFTs?
No . Many cryptocurrency wallets do not support the ERC-721 or ERC-1155 token standards – in other words, non-fungible tokens . While companies…
What types of cryptocurrency wallets are there?
In total, there are four big types of cryptocurrency wallets – online, hardware, software (app), and paper ones. Each of these types of walle…
What are “hot” and “cold” wallets?
Hot wallets are those crypto storage pieces of software that maintain a constant connection to the internet. As opposed to that, cold wallets…
Are hardware wallets worth investing in?
It depends, but in most cases – yes . If you’re just starting out with cryptocurrency trading and investing, a hardware wallet might be a bit of a…
Can you keep your cryptocurrencies in two or more wallets at a time?
Definitely ! It’s also part of crypto storage best practices , too! Most cryptocurrency enthusiasts prefer to have a software and a hardware wall…
NFT Phishing Scams
Basically, phishing is a common online scam where scammers impersonate real organizations to steal sensitive information through emails, texts, and other means. The same has been widely happening in the NFT world, where impersonators try to steal your private key or seed phrase. Now, a seed phrase is a list of 12 to 24 words generated by a crypto wallet to give you access t…
Fake NFT Projects and Websites
As we mentioned in the case of phishing attacks, there are plenty of fake websites out there. Even if you are Googling an NFT website yourself, a simple typo could land you on a fake website. Since most of these sites look strikingly similar to the original, you probably won’t realise what happened until it’s too late. Consider NFT Trader—a website commonly used by NFT traders. Wh…
Do Not Interact with NFTS and Tokens Sent to Your Wallet!
Connecting your wallets on websites, in itself, is safe. The only drawback is that as the website has your wallet address, it could be used for any attacks. For example, some websites use unsafe methods like ‘eth_sign’, which will allow even transaction messages to get signed (check below example from fabdarice.eth). There is a common misconception that disconnecting your wallet …
Beware of Rugpulls!
For the uninitiated, a rugpull happens when creators fail to deliver on a project and absconds with all the money. Typically, the scammers will create a legit-looking project with artwork sneak peeks, a website, social media accounts, and more. However, post-launch, when the collectors have minted NFTs, the developers flee with all the money, leaving the investors empty-handed. F…