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Throughout my journey in Web3, the word "#HardwareWallet (HW)" has been chanted when it comes to security.
However, no one really explains on wallet management to obtain the "best" security.
I would cover a few FAQs with hope that it would help with your NFT management. 🧵👇🏽
However, no one really explains on wallet management to obtain the "best" security.
I would cover a few FAQs with hope that it would help with your NFT management. 🧵👇🏽
2/ Let's first clear up some definitions
#HotWallet - Wallet that interacts with smart contracts. For minting & trading.
Burner Wallet - Wallet for Free/Stealth Mint or interacting with unverified websites/contracts.
#ColdWallet - NFT Vault. NO INTERACTION with smart contracts
#HotWallet - Wallet that interacts with smart contracts. For minting & trading.
Burner Wallet - Wallet for Free/Stealth Mint or interacting with unverified websites/contracts.
#ColdWallet - NFT Vault. NO INTERACTION with smart contracts
3/ What about software (SW) & hardware wallets?
The main difference with HW, is how the seed phase is entered:
HW: on the device itself -air gap from internet
SW: on phone/PC - has internet connection
Hence, should there be malware on the pc, a seed phrase leak could happen.
The main difference with HW, is how the seed phase is entered:
HW: on the device itself -air gap from internet
SW: on phone/PC - has internet connection
Hence, should there be malware on the pc, a seed phrase leak could happen.
