Avoiding Scams

10 months ago

As you explore the decentralized frontier, it is important to be aware of common crypto scams. The tips below will help you stay safe as you explore new opportunities.

  1. If it sounds too good to be true, it probably is.

Before you dump your money bags 💰 into the latest fad, slow down and review. If an opportunity is legitimate, it will still be there five minutes from now. Take a deep breath, slow down, and review what you're being asked to do.

  1. Don't trust. Verify.

Transactions are irreversible, so once a transaction is made it cannot be 'unmade'. Before you send crypto to an address, ensure your intended recipient is who they say they are.

  1. Guard your seed phrase.

To keep your funds safe, you should never share your seed phrase with anyone, just as you would never share your social security number or bank account password.

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