How to Avoid Scams in Crypto? Here are 3 Cruical Tips

June 23, 2023

The risk of scams is an unfortunate reality that is all around us. As numerous projects gear up to release their announcements, it’s more important than ever to stay alert and informed.

Here are three key strategies, shared by cryptocurrency expert Wale Swoosh, to help you steer clear of potential scams.

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What you'll learn 👉

1. No Room for Stealth Mints

The concept of surprise mints might seem appealing, but it’s crucial to understand that reputable projects such as Azuki, DeGods, y00ts, Captainz, among others, do not resort to such tactics. Scammers often create a sense of urgency, urging you to click on random links for instant claims. Remember, legitimate projects will not have surprise mints. Avoid acting on impulse and always verify the authenticity of such claims.

2. The Power of Triple Checking

In the realm of cryptocurrencies, the importance of thorough verification cannot be overstated. Genuine project announcements will be disseminated through multiple channels. For example, if you’re tracking Azuki, expect official announcements from the Azuki account, its founders, their official website, and on Discord. Wale Swoosh, a respected voice in the community, will also share these updates. Always cross-check information from various sources before making any decisions.

3. Harnessing Common Sense

The final strategy is perhaps the most important one – exercising common sense. The projects in question will not resort to fear of missing out (FOMO) tactics or disable comments on their tweets. If something seems off or too good to be true, it’s better to hold off and wait. As the old saying goes, “When in doubt, do nothing.” Avoid making hasty decisions that you might regret later.

In conclusion, navigating the cryptocurrency landscape can be challenging, but with careful planning and a healthy dose of skepticism, you can evade the scams that unfortunately lurk in this space. Stay safe, stay informed, and enjoy your crypto journey!