Welcome back to Day 4 of your NFT journey. We explained yesterday why you need a digital wallet, such as Ledger. This enables you to own a NFT and perform a variety of other activities with it. Today, we'll expand on that knowledge and describe how to keep your digital wallet safe and secure.

Unfortunately, like with any new technology, there will be those who attempt to take advantage of others. This is especially true in the NFT world because 1) it requires additional technical knowledge and 2) it can be very attractive for criminals because significant sums of money are involved. There are several types of bad actors and criminal activities in the NFT world. We’ll highlight the most common attempts as well as give you some guiding principles that will ensure your safety.

One of the most common methods for malicious actors is to attempt to obtain your seed phrase. If you followed the step-by-step instructions and video on how to set up your Ledger, you are aware that your seed phrase is a string of words. This allows the person who knows it complete control over your digital wallet. Consider your seed phrase to be the key to all of your NFTs and funds kept in a digital wallet. As a result, it is critical that you never share this string of words with anybody. Do not store it online or anywhere digital (because computers can be hacked). Write it down and store it in a safe place, and then create a backup and store it in a different safe location. Your seed phrase is access to everything, and you should take the security of it seriously.

Tomorrow, we'll look at how you can get money into your newly created digital wallet.

Extra credit:

If you have 5 minutes, in this article you can find additional info on how to keep your Ledger secure: https://www.ledger.com/academy/hardwarewallet/best-practices-when-using-a-hardware-wallet#