Artists, celebrities, art collectors, even high school students … today everyone has a keen eye for art and collectibles in the form of irreplaceable tokens. , also known as NFT.

Why shouldn’t they be! American digital artist Beeple has just sold one of its NFTs for over $ 69.3 million, making it the third most expensive work of art ever to be sold by a living artist. All Beeple could tweet in his excitement was, “Great.”

The sale adds to the broader picture of our rapidly digitizing world and the growing interest in digital art and collectibles.

The hype is that a few hundred thousand dollars look like miniatures in the NFT world. And it’s no surprise that as art enthusiasts switch to NFT, so do hackers. So now is the time to study How to backup NFT Your.

Wherever there is money, there are hackers – including NFT

Have you ever wondered why there is less money today? Why don’t we hear more about masked Dali robbers and bank robbers with guns in hand to rob the rich and poor?

Well, you don’t have to. In the age of the internet, a thief only needs the right data and some computer skills to steal all the money he wants.

We see this shift in the art industry as we move from the physical to the digital world. Art theft, art theft or art naps … whatever you call it … will no longer force thieves to leave their comfortable sofas. Smashing glass to get into an art gallery, getting through a ventilator, and hanging on a military zipper strapped across the back just to steal a painting is far from dated.

Now all an art thief needs is the right information, your wallet’s private key or your account password, and that’s it. Say goodbye to your work of art.

And this modern art form began; The first victim is one of the most famous NFT marketplaces, the Nifty Gateway. Recently, some users claimed their entire NFT collection was stolen while others reported that their Nifty linked credit cards were being used to purchase new NFTs. Apparently, Nifty noticed that none of the compromised accounts had 2FA enabled or two-factor authentication.

A little knowledge of how to backup NFT would be immensely helpful

It’s understandable the excitement … and how you can be intrigued buying new NFTs instantly from a centralized marketplace. They make your life easier by using your credit card to buy your tokens. But they also compromise your security by not allowing you to control your private keys.

You may not understand everything at first, but here is a basic explanation of how it all works to get you started.

Every cryptocurrency, including NFT, is stored on a blockchain, a ledger that no one centrally controls. And users who own crypto tokens actually have a private key that points to a certain amount of these tokens stored on the blockchain. In this way, the blockchain knows who has which token or NFT and shows it on their wallet.

In addition, once an NFT transaction has been executed on the remote ledger and assigned a different private key, the transaction cannot be reversed. Not your key, not your NFT.

So if someone gets access to your account on the marketplace and transfers your tokens to their wallet outside of the platform, it will not be possible to get your tokens back.

Therefore, it is safest to store your NFTs in a wallet that gives you control over your private keys and gives you the security of 2FA.

Are You Ready To Learn How Safely You Can Do NFT? Because we are of course happy to help you.

Your NFT, your responsibility

If you’ve been spending your hard-earned money on NFTs, it is by no means taking their security lightly. How to Secure NFT How do you protect your NFT, you ask yourself?

To get started, you need to choose the right crypto wallet to store your NFTs. And there are 2 types of these wallets: software wallets (hot) and hardware wallets (cold).

Most NFT markets now require you to have a software wallet that you can use to instantly create your account on the platform. These software wallets are connected to the internet which exposes your private keys to some risk, but they do regular transactions on dApp or NFT markets. Plus, they’re still a lot safer than buying NFTs with a credit card.

Hardware wallets, on the other hand, offer the ultimate in security by keeping your private keys separate from the internet. But that makes it difficult to buy or sell NFT directly on marketplaces.

So which one should you choose? How about a combination of both to ensure optimal ease of use and security?

Ledger Nano is a range of hardware wallets that you can use to connect to trusted third-party hot wallets such as MetaMask and MyEtherWallet. When you link your Ledger Nano to MetaMask, the private key that controls your NFT remains in your hardware wallet, hidden in the stronghold of its secure factor chip, while your hot wallet can read your balance and help you manage it .

So you can connect your MetaMask wallet to any NFT marketplace like Rarible or Open Sea and easily trade NFTs from the security of your Ledger device. Every time you want to take an action, the MetaMask wallet sends a request to your nano wallet asking for your approval for approval. The transaction only takes place if you sign / approve the request with the private key in your hardware wallet.

This works like your bank sending you a one-time password on your mobile phone to authorize transactions, but this time with the immutable security of the blockchain. And as long as you have Nano and protect your recovery phrase, no one can steal your NFT.

Connect your MetaMask wallet to Ledger Nano

If what we said above looks promising, here are the simple steps you can follow to connect your Ledger Nano to MetaMask:

Step 1. Connect the Ledger Nano to your computing device with a USB cable. Alternatively, open your MetaMask wallet in full screen mode in the Brave or Chrome browser.

Step 2: Click the MetaMask wallet on the top right menu, then locate and click “Connect Hardware Wallet” in the drop-down menu.

Step 3: The next screen will show you all of the hardware wallets that you can connect to MetaMask. Select Ledger and click Connect.

Step 4: Then the window will show a list of the Ethereum accounts that you have on your device (create one if you don’t already have one). Select your desired account and click on “Import”.

And you can easily manage and trade your NFTs from the security of your Nano Hardware Wallet.

Conclude

As with any new technology, getting started with decentralized space can be overwhelming at times. It is for most of us. But that doesn’t stop you from enjoying the property rights, privacy, control, and financial freedom this technology gives you.

In case you’re wondering … find out more about How to backup NFT, Private key, Blockchain, Safety, and every new term you have come across in this article!

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Important NOTE: All content on the website is for informational purposes only and does not constitute investment advice. Your money, the choice is yours.