Safety First — The Ultimate Guide to Free Mints and Wallet Security.
With the rise of the free mint and premint.xyz the number of free mints hitting the blockchain is steadily increasing. But how does one stay safe and minimize the chances of getting scammed or even having your entire wallet drained of your precious JPEGs!
So you want free NFTs huh!? well let me give you a quick rundown of what you will find in this guide to staying safe in the world of the free mint!
— Wallet Safety (when connecting to free mints and in general)
— Discord Safety, when completing the checklists on premint.xyz
This guide is aimed at new users with MetaMask installed. But I have seen very recently some big players getting played through free mints, so take note smarty pants!
Probably the most important thing, when connecting to free mint pages is NEVER EVER EEVVVEEEERRR Connect a wallet with stuff you want to keep in it! By connecting to most free mint pages you are signing a Allow all access to that contract and as such even if the contract is legit you are leaving an open trail to your wallet. Below is the best practice and one that I use every time (for free mints/Paid Mints/Connections to new sites I haven’t used before).
Before we do anything lets setup our minting wallet (you can have as many of these as you like! Simply click the create new account and give it a good name, so we know what account we will want to be connecting to any random sites…
Note: Once we have setup this new account/wallet we will need to give it a small amount of funding (Don’t fire over 1 ETH Richie Rich! just enough to cover gas and any mint prices!)
Now when you head over to that free mint site and connect up your wallet only connect the new wallet that we have just created, this can be used multiple times for multiple mints and to make sure we close any loop holes into our wallet we are going to use a handy site called revoke.cash.
On revoke cash we are going to have a quick check and make sure we don’t have any allowances for anything we don’t recognise If we find anything suspect simply click revoke and sign the 0 balance update so that contract cannot access anything you have approved.
Now as a last precaution we will check where our wallet is connected too open up your MetaMask extension (the little fox top right of browser) click the 3 dots and click connected sites (now simply disconnect from any sites you don’t want to remain connected too).
I Got my Free NFT Now what!?
Well if she’s a keeper lets send it to a secure wallet! Generally I like to keep my high end NFTs in a Ledger stored Wallet (thats a Ethereum wallet that has its private key securely stored offline for all you laymen!). The easiest way to do this is with a NFT exchange such as LooksRare! Simply connect your wallet to LooksRare click the wallet logo (top right) and then click my items then select the Item you want to transfer out and click … you guessed it! Transfer, follow the instructions inputting wallet address to send to and pay the gas required for the transfer.
If you want to then List and Sell your NFTs best practice is to use what’s referred to as a HOT wallet. This will be a wallet that you use to hold NFTs that you have for sale, thus further reducing the connections to your Main “Big Boy Holdall Wallet”. This will be the same steps as above for a Minting wallet (but obviously don’t then start connecting this one to Minting sites Keep it to NFT Exchanges and transfer that ETH/WETH back to your Main wallet when you get some sales)
So lets Debrief on our Wallet Security (and a super Artistic Diagram!).
1. NEVER CONNECT MAIN WALLET TO A MINT SITE!
2. Create your Minting Wallet in Meta mask and keep it funded with minimal ETH.
3. Anything you want to keep transfer out to a secure wallet or a Wallet secured by a Ledger Device.
4. Anything you want to Sell move to a HOT wallet.
5. For Added Security and Long-term holding purposes use a Ledger Wallet!
See the Diagram Below for absolute BEST Security.
This ones going to be rather brief but just protects you, especially if your using Premint.xyz which will require you to sign up to several Collections discord servers.
When you enter a new Discord server (if you have not set it up automatically) you will want to disallow direct messages from others on the server (As a lot of bots and scammers are present on almost all Discord servers!). To do this we will click on the server (on the left of Discord) then click the little dropdown arrow (next to the server’s name) and click privacy settings. Then simply make sure “Allow Direct Messages from Server Members” is unchecked.
This may seem like a silly step but I can assure you the amount of users who get caught out by either bots or sophisticated scams via Discord DMs is massively on the rise so its better to never see those messages in the first place to remove any temptation to interact with potentially life changing messages!
That’s all for now! Remember stay safe and practice good Wallet Security!
Never connect your main wallets to a Minting site and always use a HOT wallet where possible for interactions!
Note: With the Recent Hack of Premint.xyz its even more important than ever to use the techniques we have learned above!
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