In the digital world, it is vital to protect all your information. This is because you can encounter many problems in just some clicks, including hacking and scamming. Your digital wallets must be safe and secure when it comes to your financial accounts. 

It should be your priority that your cryptocurrency digital wallet is well protected, too with more robust authentication. This is because there is no regulatory protection for NFTs and crypto money at some point. That is why it is best to protect them.

Non-Fungible Token (NFT) is a blockchain-based means of asserting ownership of digital assets. With its popularity now, it has become the target of hackers. Digital art is one of the most popular NFT applications. This allows investors to buy photos, digital renderings, paintings, memes, and famous tweets.

An NFT has unique identifier codes that are distinctive. This is a different approach than most digital assets. This is the reason why it is more vulnerable than ever. 

Some of the significant players in NFT marketplaces include OpenSea, Axie Infinity, Nifty Gateway. When targeted by cybercriminals, this will be a massive loss to everyone who owns NFTs.

Strong authentication is one way to protect cryptocurrency accounts. This extra layer of security protects the user’s account, regardless of whether one factor has been compromised. Security questions, time-based passwords (TOTPs), biometrics, and physical authentication keys are all common forms of strong authentication.

FIDO/FIDO2, the most recent set of specifications from the FIDO Alliance, has been adopted by major crypto exchanges like Binance and Coinbase as the standard-based authentication protocol. It protects the cryptographic credentials from being stolen or lost in transit and keeps them safe on the device. 

Ensuring safety is a good move. Nonetheless, it will make a big difference if the consumer has an easier NFTs registration like eKYC to lessen any hassle. 

To learn more details about how you can protect NFTs read this infographic from LoginID.

What-Are-Nfts-And-How-To-Best-Protect-Them