nfts

5 ways to protect NFTs from scams

Daksh Murkute | | |

When it comes to NFTs, a few names immediately come to mind: mutant ape ninja turtle, bored ape, crypto punks, crypto kitties, and lots and lots of money,

 

However, due to the recent NFT explosion in the public consciousness, they are completely unaware of the security concerns associated with NFTs. And it is now more important than ever to educate them on these issues.

 

In this blog, I'll talk about NFT scams and hacks that you should avoid at all costs.

Contents

Don’t talk with strangers

Your key is your responsibility

Don’t click on an unknown link

Use two-way authentication

Periodically change your wallet password

 

NFTs were not even on anyone's radar in 2020. But in 2021, after the sale of "Every day – the first 5000 days" for a whopping $69 million, NFTs exploded into the general public's consciousness, and with Twitter and Instagram, it has accelerated to new heights.

 

Since then, NFTs have been making new history with each passing day where people are spending a lot of time choosing the best and early NFTs.

 

Well, this is the bright side of NFTs.

 

However, the majority of people were completely unaware of the security concerns associated with NFTs, and educating them about those concerns is more important.

 

Here are some ways through which you can protect your NFTs.

 

1. Don’t talk with strangers

 

Don’t talk with strangers

 

When we were young, our elders taught us not to talk to strangers and not to take anything from strangers; that advice is still relevant today, and it is one of the simplest and most important pieces of advice I can give about NFTs.

 

Let me tell you, there are sophisticated scams going on in the NFT world where a malicious person can contact you on Twitter or Discord and talk to you about financial matters and once he gets enough information about your finance, he scams you.

 

As a result, it is always important to avoid such conversations for your own safety and wealth.

 

2. Your key is your responsibility

 

Your key is your responsibility

 

Never share your secret key or recovery phrase! This statement could never be more direct.

 

There is a reason why the crypto wallet key is called secret whoever has the key has the control of crypto. So, whatever happens, it must be with you, and it must be a secret you will carry with you to your grave.

 

 

Every time you open your email, you are invited to click on links sent to you like “get some rare NFTs” and so on. Most of them are secure because they come from sources you can trust, but sometimes what happens, malicious actors impersonate some secure sources to get you to click on a link.

 

So be careful before clicking on any unknown links.

 

4. Use two-step authentication
 

Use two-step authentication

 

When it comes to protecting your NFTs, two-step authentication brings an added level of security to the verification process by making it very difficult for hackers to gain access to your wallet.

 

so always make sure you have enabled two-step authentication.

 

5. Periodically change your wallet password

 

Periodically change your wallet password

 

Passwords are important because they serve as the first line of protection against hackers trying to break into your wallet. So the first thing you should remember is to keep a strong password for your cryptocurrency wallet and to change it on a regular basis to make it more secure and foolproof.

 

These are some of the basics which help you to protect from NFT hacks.

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