The 3 wallet rule for safety in NFTs
How to protect yourself in NFTs if you still don’t have a cold wallet (with visuals).
You should have AT LEAST 3 wallets PER chain (SOL/ETH). I’ll explain the use case of each one.
1st wallet: holding wallet → this wallet's main use case is to store your NFTs you don’t want to risk losing/being hacked.
2ND wallet: the buying/selling wallet.
This wallet is ONLY for buying/selling an NFT on secondary markets, NOT minting.
Use cases apart from that:
a) Receiving NFTs to sell from the holding wallet. Remember, holding wallet does NOT connect to marketplaces/websites to sell.
And finally, 3rd wallet: Minting wallet.
Like the name says, just for minting. This wallet is the one that takes the most risks since it connects to minting websites.
You DON’T put NFTs/money here. The only money it has is to cover gas fees + mint price. In the case it gets hacked, the loss would only be the gas fee money + the mint price money.
Some people would use this one to also buy/sell NFTs, that depends on your preference. I personally would and do ONLY use it to mint.
Either way, be careful with mint links!
Finally: consider having 3 wallets on ETH and SOL. Once you get your Ledger/Trezor, create a new fresh holding wallet there.
Don’t hesitate to create more SEPARATE wallets (that don’t share seed phrases), for other use cases you find relevant for your safety.
I’m not a huge fan of Google for storing wallets, but the easiest way to store all of these *hot* SEPARATE wallets is through several Google Chrome profiles + Brave. Or if you prefer other browsers, do so. Just speaking from experience!
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How to protect yourself in NFTs if you still don't have a cold wallet (with visuals): (1/7) 🧵 pic.twitter.com/enxyDr7idQ