There are many ways to do this but I am going to explain you the easiest set-up to Mint NFT without risks (or with the lowest risk possible). You could subdivide your wallets in as many categories as you want.
Safe Strategy to Mint NFT
Let’s make 3 separate NFT wallets.
First NFT wallet will be your bank wallet that will be dedicated where you keep your money. The wallet that you use to transfer your money to finance your NFT trades.
Second NFT wallet is your minting wallet, that you will be filling from your first wallet. The purpose is to create barriers to separate each wallet. In case you get scammed or hacked on this wallet while minting, you limit your losses to this current wallet and no other wallet can be access from here. Once you are done minting you transfer your NFTs to the last one.
Third NFT wallet is where you hold your Digital Pixel Arts: it’s your safe NFT wallet safe
As a result, your bank wallet is independent from your minting wallet, which is also independent from your NFT wallet. This NFT strategy helps you partition your financial earnings and keeps you safer.
If this NFT partition strategy is smart don’t forget to share it with your crypto friends and NFT family
NFT Scam Strategy to avoid
Someone on Twitter or in a Discord chat will send a link to a NFT collection you like. But the link in reality is spoofed (or phishing techniques) and a MetaMask verification window appears (for “safety” or security check) to verify your account.
If you input your data (seed words), that’s a BIG mistake. The hacker will collect your information and connection credentials and siphon your wallet, as explained by @iamDCinvestor
Here an example from @stazie on Twitter who got scammed and lost $5.6 million worth of cryptopunk and ETH
NERVER SHARE YOUR SEED PHRASE WITH ANYONE FOR ANY REASON.
NEVER SCREEN SHARE WITH ANYONE TOO.Your Oleakupdate Crypto expert
How to Select Good NFT Collections to Mint
First thing is: DYOR. Or Do Your Own Research ! It is your money, YOUR RESPONSIBILITY.
If you are getting rug pulled, you cannot blame someone else for not making the proper due diligence on the project. We have made a complete article on how to detect NFT scam like rug pull on this article.
But in summary, you need to: stay away from anonymous and new NFT founders, detect projects that are NFT copy/paste from other projects, analyze the Token Liquidity, look for positive Social Media Signals, read the White Paper carefully, inspect the Token code, check for whales and scrutinize the Total Value Locked (Token TVL).
3 Tips for Minting NFTs in Video
- Tip 1 – Timing the mint: don’t mint unless 75% of the NFT Collection is sold
- Tip 2 – Mint from contract
- Tip 3 – DYOR do your own research to know what to expect on NFT drop day