Safety 101 – Tips/Red Flags to Avoid Crypto Scams
- Do your research before investing in any specific token, including verifying the legitimacy of the cryptocurrency project and team.
- Be cautious of unsolicited investment opportunities and promises of high returns. Trust your instincts and be skeptical of anything that seems too good to be true. (here we’ll emphasize that markets are naturally volatile and anyone who “knows” what’s going to happen knows because they’ve got their thumb on the scale and you’ll be left picking up the pieces. pump and dump.)
- Educate yourself on the basics of blockchain, decentralized finance, and cryptocurrencies so you’re not flying blind, and stay up-to-date on the latest scams and threats. The more you know, the more difficult it is for bad actors to take advantage of you.
- Understand how to responsibly use a non-custodial wallet for enhanced security.
- Understand the difference between a custodial wallet and non – custodial wallet, as well as a centralized exchange and a decentralized exchange. Your safest option is Non – custodial digital wallet operating on a decentralized exchange.
