Fraud is a major problem in crypto with the most significant losses stemming from security risks, including those that result from phishing, click fraud, identity theft, or loss of payment or other sensitive data.
If there’s one thing that risks are known about, it’s that taking risks could turn into a costly experience filled with regret. Therefore, it is imperative to ease fears that are not necessarily about the future of the market in general.
It’s crucial to ensure that there’s no such thing as a “permanent bubble”. Each advancement in technology provided criminals with a means to profit from technology. However, this doesn’t mean that we should stop developing new technologies. Instead, we address many more problems and strive to stop hackers from stealing from the system. This is a continuous cycle of peace and war.
If you are in NFTs probably heard about Metamask wallet, which is the most popular at the moment. this article we are going to cover and explain How to protect your NFTs in Metamask.
Is Metamask safe for protecting your NFTs?
In short, not really. Metamask was initially built for Ethereum users. Software wallets are the most used for storing NFTs and crypto. But the main weak point is that the information to access these wallets is stored in the software, which is stored online.
If someone hacks your computer or phone, it means your online privacy is now at risk. Someone might be watching your every move and could steal your NFTs.
There are so many scams that it would take an entire book to list them all. This has happened to countless people throughout history and will continue to do so for as long as human beings are around.
For the same reason, we recommend that you use cold wallets like Ledger.
Get a hard wallet
The most secure and preferred way to store your NFT is in a cold-storage hardware wallet like Ledger. It can help you keep track of important financial information. It’s secure from hackers. You should definitely protect your data in this way. And then all of your data is protected to add an extra layer of security. This is because hardware wallets and their crucial information, like seed phrases, passwords, and PIN codes, are stored in the device itself, making it difficult for hackers and keyloggers to gain access.
Is it safe to buy a second-hand Ledger hardware wallet?
Many people would say: “As long as you’re not dumb enough to use a pre-configured one, yes!” It is strongly recommended to purchase a cold wallet from their official webshop. Avoid second-hand sellers and third-party sellers. Check the video below where Guy will explain to you better How to protect your Crypto/NFT.