Safely storing your digital artwork

Detailed article: “Safely storing your digital artwork”

Owning digital artwork, especially in the form of NFTs (Non-Fungible Tokens), has grown in popularity in recent years. These works can have a lot of value, which is why it is crucial to store them securely and protect them from loss or theft. Here are detailed steps and recommendations on how to keep your digital artwork safe:

1. Using a Digital Wallet

The first step to safely storing your digital artwork is to use a digital wallet. These wallets act as a storage location for your NFTs and cryptocurrencies and offer protection through encryption. There are different types of wallets:

• Software Wallets : These wallets are applications or programs that you can install on your computer or smartphone. Well-known examples are MetaMask and Trust Wallet. They offer the advantage of being easy to access and use. However, they are vulnerable to hacks if your device is connected to the Internet or is insecure.

• Hardware Wallets : A more secure alternative is hardware wallets like Ledger or Trezor. These physical devices store your NFTs and private keys offline, which protects them from cyberattacks. Hardware wallets are considered the most secure way to store digital artwork and cryptocurrencies as they offer “cold storage.”

2. Store backup and recovery phrases (seed phrases) securely

When you set up a digital wallet, you will be given a recovery phrase, also called a "seed phrase," which is a sequence of words. This seed phrase is the key to recovering your wallet in case you lose access or the device is damaged. It is crucial to store this seed phrase securely and never store it digitally or online.

• Physical backup : Write the seed phrase on a piece of paper and store it in a safe, fireproof and waterproof place. Some people also choose to store it on metal plates, which are particularly robust and protect against environmental influences.

• Multiple copies : It is advisable to keep multiple copies of the seed phrase in different locations to ensure it is available in case of emergency. However, avoid storing it digitally (e.g. in cloud storage or on the computer) as this poses a significant security risk.

3. Avoiding phishing and cyber attacks

Phishing and other cyberattacks are a common danger in the digital art and cryptocurrency space. These attacks aim to steal sensitive information such as your seed phrase or login credentials. Here are some measures to protect yourself from them:

• Verifying websites : Visit only official and verified websites when using your wallet or digital art marketplaces. Phishing websites often look identical to the real ones but aim to intercept your login credentials.

• Use two-factor authentication (2FA) : Always enable two-factor authentication for your accounts whenever possible. This provides an additional layer of security, as accessing your wallet or marketplace requires an additional code generated on your smartphone, for example.

• Regular security checks : Always keep your software and devices up to date to close security gaps. Also install reliable antivirus software to block malicious programs.

4. Managing NFTs on secure platforms

When buying and trading digital artwork, it is important to only use reputable and secure platforms. Make sure that the platforms you buy or store your NFTs on have a good reputation and are protected by security measures such as two-factor authentication and encryption. Well-known marketplaces such as OpenSea, Rarible or SuperRare often offer additional protection mechanisms and options to ensure the security of your transactions and collections.

5. Use multi-signature wallets

For collectors with large holdings or particularly valuable digital artworks, it may make sense to use a multi-signature (multisig) wallet. These wallets require multiple signatures to complete a transaction, meaning multiple devices or parties must agree before access is granted. This is especially useful if you want to share your collection with others or implement additional protection against unauthorized access.

6. Cold storage for long-term storage

If you plan to keep your digital artwork long-term and not access it regularly, cold storage is one of the safest options. Cold storage means that your digital assets are stored offline, for example on a hardware wallet or a specially prepared offline device. This minimizes the risk of cyberattacks and is especially recommended for high-value collections.

Conclusion

Storing digital artwork securely requires careful planning and the use of reliable tools. The combination of hardware wallets, secure seed phrase storage, and the use of trusted platforms is essential to protect your collection from loss and theft. By following these measures, you can enjoy your digital artwork safely and for the long term.