Pros and Cons of “Crypto” Wallets
If you’re thinking of using your own wallet for NFTs, here’s a couple things that you should be thinking about.
Congratulations, you just purchased an NFT! But where should you store it for future use?
It’s important to decide how to store an NFT. After all, digital assets can be worth a lot, and we want to make sure that you keep them safe, whether you want to access them, sell them or transfer them to another person.
There are many benefits to having your own non-custodial wallet, such as:
Creating and managing your own wallet, however, can be a bit intimidating. If you’re new to crypto and NFTs, we recommend you make yourself familiar with the technology first, before sending valuable assets to your own non-custodial wallet. This is why we offer to safely hold your NFTs on your behalf.
Keeping your digital assets in your own non-custodial wallet carries its own set of risks:
If you decide to have a non-custodial wallet, here are some tips to keep your assets safe:
It’s important to keep your secret phrase/private key safe because it is the only thing that could let you back into your wallet if you were to lose access to it.
In conclusion, there are two main types of crypto wallets: custodial and non-custodial. While there are many benefits to holding your own digital assets without the help of a third-party, this also presents a series of risks (which can be mitigated with proper safety measures). We will always offer our users the ability to connect with mainstream non-custodial wallets, allowing them to receive their NFTs wherever they’d like.
With the recent rise of NFT technology, token-gating has become a term that is often mentioned within web3. As brands leverage NFTs to further connect with their audiences and build a dedicated fanbase, they are finding innovative ways to use blockchain technology to their advantage. NFTs allow brands to give their customers a sense of exclusivity, combined with an increased connection to their favourite businesses.
NFTs. If you’ve had any access to the internet for the past 18 months, you’ve probably heard of NFTs. Whether it’s the Bored Ape that sold for over 3.4 million USD at Sotheby’s digital auction or the CryptoPunk that sold for a record-breaking 8,000 ETH ($23.7 million USD), it’s undeniable that NFTs have taken the world by storm. If you’ve been looking for an easy-to-digest explanation regarding what NFTs exactly are, you’ve stumbled upon the right place.