As an NFT collector, securing your valuable digital assets is critical. In this post, I'll explain best practices for protecting your NFTs, focusing on wallet types, avoiding scams, and staying vigilant.

Wallet types

Understanding wallet types is key to NFT security, as each type offers unique advantages and trade-offs.

Here are three wallet types:

• Cold Wallets

• Hot Wallets

• Warm Wallets

🥶 Cold Wallets

Offline storage, providing maximum security.

No direct connection to the internet, keeping your private keys and assets safe from hackers. Ideal for long-term storage or large asset holdings.

Examples: Ledger, Trezor.

🔥 Hot Wallets

Online storage, making them more convenient for frequent transactions.

Easier to access and use, but more vulnerable to hacks and phishing attacks.

Good for day-to-day transactions, but not for storing significant value.

Examples: MetaMask, Rainbow.

🌡️ Warm Wallets

A hybrid of cold & hot wallets, balancing security & accessibility.

Private keys are offline, but accessed via secure software when needed.

Suitable for moderate investments & regular transactions.

Example: Connect Ledger to MetaMask.

❄️ Ledger as a Cold Wallet

Use a Ledger hardware wallet for cold storage.

It securely stores private keys offline, keeping them away from hackers.

Safeguard your seed phrase - it's crucial for asset recovery if the device is lost or damaged.

I'm using Ledger Nano X.

🔥 Ledger as a Warm Wallet

Connect your Ledger wallet to a trusted platform like MetaMask, you can use it as a warm wallet.

This setup allows for more accessibility while maintaining a high level of security.

Just be cautious of the websites you interact with.

🕵️ Beware of Random Discord Invites

Avoid joining random Discord servers asking for message signing.

Scammers use this tactic to trick you into granting them access to your wallet.

Verify server legitimacy & admins before joining.

Example: RTFKT Alpha Group scam.

🎮 Be Cautious of closed alpha P2E Games

Avoid participating in closed alpha play-to-earn (P2E) games without researching the game and the development team behind it.

Scammers may use fake P2E games to steal your assets and install malware on your computer.

✍️ Verify What You're Signing

Always double-check the content of transactions before signing.

If you don't understand what you're signing, don't proceed.

Educate yourself on the implications of signing various types of transactions. and messages.

🔎 Double-Check Website URLs

Always double-check website URLs when trading NFTs.

Scammers often create fake websites with similar URLs to trick users.

Ensure the domain name is spelled correctly.

Good idea is to bookmark the correct URLs and access from there.

🛡️ Use Protective Apps

Apps like Wallet Guard can provide an extra layer of security for your wallet.

They can protect against phishing attempts, low-trust websites, unverified marketplaces, and scams.

An app like this can provide human-readable insight on every transaction.

Conclusion

Read those tips, decide what's best for you, protect your assets & stay vigilant. Share knowledge, keep learning, and always double-check everything. Trust no one offering your free fortune.