What is a burner wallet?

A burner wallet is a temporary crypto wallet you can use to make transactions, mint NFTs, or interact with decentralized applications (DApps) that are yet to be verified. Burner wallets are widely referred to as instant wallets. Each burner wallet creates a temporary key, which allows the user to sign transactions.

Should I use a burner wallet for NFT minting?

It has become a somewhat recommended practice to use a burner wallet when participating in non-fungible token (NFT) minting. This is in case the platform is a scam and there is some sort of code within the smart contract that allows access to your funds/permissions.

Can I set an ENS address for my Burner wallet?

You can set an ENS address for your burner wallet, but it is not advisable since the idea is to change your burner wallet after a few interactions with a smart contract or regularly. Burner wallet can also be used when sending or receiving one-off payments to avoid exposing your main wallet address.

What is balancer wallet?

Balancer is a quantitative strategy wealth management wallet created by Balancer Exchange.