Crypto & NFT
Educator | Mentor
Here to answer your questions all things NFT and Crypto related
Please note that buying an NFT on Polygon/Matic requires funds in the native currency of MATIC
The videos below have useful information on how to transfer your funds to the Matic network.
Q: How to buy Polygon MATIC with Crypto.com
Q: How to easily bridge ETH to MATIC
Q: How to create a Metamask wallet
Q: How to withdraw funds from Polygon MATIC to
your bank account using crypto.com
protecting your nft's
One of the most important daily wallet safety habits you can get into is ensuring that you disconnect your wallet from all sites - once you have finalised the specific transaction that required you to connect.
This can be verification of an NFT you own, or minting from a website, or even just linking it to Opensea.
Your wallet may have a settings tab or 3 dots - click on this and look for CONNECTED SITES, select the site you want to disconnect from.This ensures that no malicious entities can access your wallet from a connection left active.
t is also recommended that you revoke permissions on your wallet periodically (we would recommend at least fortnightly, please bear in mind that there is an associated transactional gas fee with the ETHEREUM blockchain, however Polygon charges a nominal MATIC fee (which is usually cents value)
Disconnecting vs. revoking approvals: ARE NOT the same thing
Following the steps above to disconnet will only disconnect your wallet from the dapp.
Depending on what it originally requested, this will prevent it from viewing your public address, wallet contents, transaction history, and even the ability to initiate transactions. It will not revoke any token approvals that you have in place with that dapp, meaning that even if you disconnect the dapp, it may still be able to access and move your tokens.
For more information on revoking approvals please watch the video below
Q: How to revoke permissions on your wallet
COLD wallets/hardware wallets
A hot wallet is a digital cryptocurrency wallet that is stored digitally only.
Protected only by your Seed Phrase, they are often subject to attack from scammers.
If you store all of your cryptocurrency and NFTs in your hot wallet, they are less protected than when in a cold
Examples of a hot wallet are a MetaMask Wallet or Coinbase Wallet that is held digitally only.
NEVER give out your seed phrase/recovery words/private key
Hardware wallets - also known as cold wallets - are the best practice and are industry standard for storing your digital assets.
Hardware wallets are the most secure option for several reasons:
1. They are completely offline.
Your private key is stored securely and encrypted within the hardware wallet itself, and it is never passed through to the online side of things. Being disconnected from the internet makes it significantly harder for scammers and hackers to break in and steal your funds and assets.
2. The funds are less accessible.
Approving any movement or transactions of crypto/NFTs in or out of your hardware wallet requires you to actually be holding the hardware wallet. On top of simply needing to be in physical possession of the wallet, you also need to input a PIN number to approve. any transaction.
Additionally there is increased protection of encrypted chips that fights sophisticated hacking attempts.
3. Hardware wallets are a non-custodial wallet.
YOU, the owner - is in full control of what is inside the wallet at all times.
Assets are stored on the blockchain, they are solely managed by you—so there is no middleman like a bank or exchange involved—and only you hold the key.
So if you want to follow my advice and buy a Ledger to protect your crypto and NFTs, I would appreciate it if you could use my affiliate link below!
And lastly - always buy a cold/hardware wallet direct never use a third party site or buy second hand