Quick and short overview of some good practices when staking NFTs and what wallet you do this with. I’ll outline what I think is a good strategy but please go ahead and do what is best for yourself.

Staking

When staking NFTs the owner is committing to sending their NFT to a smart contract to hold. Basically being held in a vault with a key, when you deposit an NFT into the vault you have the key to get it out.

Some staking contracts will lock the NFT in the contract (vault) for a set period of time. This is the case for DeadHeadsNFT where you MUST lock the NFT for 3m / 6m / 12m / 24m.

So be careful what wallet you do this with. That’s a decent amount of time not being able to manage an NFT.

Wallet Options

Crypto has plenty of scammers and people social engineering people out of their NFTs. So!

It would make sense to not look at wallets as having equal importance.

It can be odd at first but have multiple wallets with different purposes. If you are being a degen and minting everything that comes out. If you are using shady websites to trade NFTs and interacting with cutting edge tech. It might be smart to separate your activities into different wallets.

As long as you don’t hand over your 24 word recovery phrase, if a wallet address is burned by a scammer you can cast it aside and make a new wallet from that 24 phrase.

You can do this with a hot wallet like metamask but a hardware wallet will give you higher security. See my other article on The Importance Of Hardware Wallets for a deeper dive into wallet security.

Ideal solution

For the highest level of security, have a hardware wallet with a unique wallet address to which you send your NFTs. Then use that wallet to stake for as long as you like.

After that, don’t do anything else with that wallet. If one of your degen wallets gets compromised you are in the clear with your staked NFTs.

TLDR

Why mix short-term FOMO with long-term conviction? Keep those staked NFTs safe!

How to mint this article on Optimism

1. Visit Zapper Token Bridge

2. Send a small amount of ETH to Optimism Layer 2 from ETH Mainnet

3. Navigate back to this article

4. Click on the “Collect” button and if needed switch to the optimism network when prompted by metamask

5. With the ETH you sent to Optimism Layer 2 you can mint the article by clicking “Collect” again and completing the mint transaction

6. Congrats you now have an NFT on Optimism and you might be eligible for future airdrops from Optimism