Over the past few years, the crypto industry has witnessed a surge in the popularity of non-fungible tokens (NFTs). Going by the reports on Reuters, NFT sales in the 1st half of 2021 was pegged at $2.5 billion paving the interest of millions of designers, artists, and investors across the globe. With the popularity, chances of security getting compromised is a cause of concern for several NFT holders. Therefore, similar to cryptocurrencies, users need to take precautionary measures for keeping their assets safe from theft. This article will help beginners to understand how they can protect their NFTs from theft and fake copies. How to Protect Your NFTs? With the highly lucrative space and lack of regulations, the chances of scams get magnified. NFTs are no different and hackers are spread over the web, waiting for their turn to make your NFTs part of a nexus of fake copies. In a situation like this, it is important to hold on to your nerves and play smart. Below listed are some of the ways which you need to keep in mind to protect your NFTs from scammers. Non-Custodial Wallet It is always prescribed to stack your NFT on the Non-custodial crypto wallet and not anywhere on the exchange or marketplace. These wallets are very protected since they are customized with a 12 to 24 words speed phase and a combination of touch for verification. So listed below are the things that one must remember while using this non-custodial wallet. ...
