Photo by Markus Spiske on Unsplash

Top NFT/Crypto Safety Software to Protect Your Wallets

By TheNiftyRevolution | CrypticPedia | 28 Jun 2022


Photo by Markus Spiske on Unsplash

1 . Revoke.cash

THE WHAT?

  • Revoke Cash is a program that allows you to monitor and revoke active token allowances for any of the tokens in your cryptocurrency wallet
  • Why Should You Use Revoke Cash
  • As more individuals use dApps, they gain more approvals for various tokens
  • Because these approvals typically provide unrestricted permissions, they might constitute a considerable security risk
  • It is consequently advisable to revoke no longer required approvals, which can be accomplished using Revoke Cash

 

2. Etherscan

THE WHAT?

  • A recent phishing tactic involves the hacker getting permission to spend tokens from the owner of a wallet address
  • Following approval, finances begin to dry up
  • If you are a frequent user of decentralized exchanges (DEX) or a degen, clicking Confirm on a pop-up like the one above may be routine for you right now
  • Using a DEX or joining a yield farming pool entails engaging with a smart contract that handles the majority of the work behind the scenes for you
  • However, before a DEX or a yield farming pool can do anything, it must first gain access to your funds , as a result, the aforementioned pop-up appears
  • Only once you provide the smart contract access to your funds will it be able to move your tokens around to perform a deal, stake tokens in a 1000 percent APY pool, or exchange a cool glittering NFT for a cute wiggly

   

DISCLOSURE:

None of these articles constitutes financial advice. Articles are highly summarised to make it easy for the reader and save your time, so please DYOR further before putting your hard-earned money into any product mentioned.
Please note that the tech industry evolves rapidly and this article's information is correct at the time of publishing. As Heraclitus said, “Change is the only constant”, so if anything sounds old or off please holler on the socials or comment here so everyone stays peeled.
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TheNiftyRevolution
TheNiftyRevolution

Hi, I'm Mo and I'm an entrepreneur passionate about crypto, NFTs, and the blockchain. This publication aims to educate the masses on adopting Web 3.0 early before it's too late :) I'm here to write, if it takes off, thanks a lot fam, if not thanks still


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