I am adding the suggestion posted by @Wesley Lee:-
"If you reeeeally want to be safe then maybe buy an externally powered USB hub."
If you reeeeally want to be safe then maybe buy an externally powered USB hub.
This is the most convenient solution I found to my problem.
Although connecting an external power supply works as well, but you need to be careful while doing so.
If you do not want to toy with your development board, using an externally powered USB hub is the best solution!
P.S.: Just for reference, when I connect my NodeMCU using externally powered hub, I get the "/dev/ttyUSB0" option in the "PORT" section in "Tools" drop-down in ArduinoIDE. This got me going.
(As for my original question, @Bence Kaulics's answer above is correct).