Hardly a day goes by in the NFT space without at least one investor falling prey to a scam and losing their NFTs. Just last month, actor and director Seth Green lost several blue-chip NFTs. Of this, one was a Bored Ape meant to be the lead character of his now tanked NFT TV show. As NFT scams continue to rise, a crypto burner wallet might be the solution you’re looking for.
So, what exactly is a crypto burner wallet and how can it keep your NFTs safe?
What Is A Crypto Burner Wallet?
Put simply, a burner wallet is much like any crypto wallet, the only difference being that it is not permanent. In other words, it is a temporary wallet that you use just for minting NFTs or making any transactions on a dApp.
Originally, Ethereum developer Austin Griffith developed a “Burner Wallet” in 2018 to make it easier to use crypto for daily transactions. As ConsenSys founder, Joe Lubin, CONTINUE READING