A burner wallet is much like any crypto wallet, the only difference being that it is not permanent. In other words, it is a temporary wallet that you use just for minting NFTs or making any transactions on a dApp.
When you are interacting with an insecure site, when you want to transact quickly, or don’t want to reveal your actual holdings, that’s when to use a burner wallet. These days, an increasing number of people are using these wallets to mint NFTs. The primary reason for this is the growing instances of NFT scams. Below You will see a link to an article that actually explains some of the most successful scams that are still ruining investors to date.
https://www.makeuseof.com/biggest-nft-scams-how-to-avoid/
Often, through phishing attacks and other means, hackers can gain access to your wallet. Before you know it, they can drain your wallet of all the crypto and NFTs, leaving you empty-handed. However, by using a burner wallet, you can keep your primary assets safe. I also have fallen for the doodles fake mint page link. This scam drained my wallet of 2 nfts because one good thing for me I had to sign the same contract multiple times in order for each transaction to go through. I noticed during the second signature seeing how I had etherscan open at the same time. I noticed that my frog nft transferred and I didn’t even interact at all with that NFT or NFT contract.
Burner wallets save you from this because even in a worst-case scenario where a hacker gains access to your burner wallet or a project you minted is a rug pull, only the limited crypto in your account will be at risk. All your remaining assets will remain safe in your main wallet.
