Memecoin trading is already risky enough as our asset class is very speculative and high in movement, the worst would be to also fall victim to scams due to a lack of attention to security.
A simple way to avoid getting scammed is to be very cautious about the links you click. The basis of scams in crypto is often designed to exploit your desire for a quick buck and carelessness.
To avoid significant financial losses, pay attention for a few minutes and keep your wallet intact by being vigilant and taking proactive steps.
Here’s a guide to help you protect yourself with unknown links:
Unknown links are not your friends
Your favorite and other known trading crypto bots are often impersonated by fake bots. If you donโt double-check the right link/username for a trading bot, youโre likely to send your funds somewhere that doesnโt belong to you, or at least with the capacity to return these assets back to yourself.
Avoid clicking on every link you come across, as doing so could lead to your personal information being compromised or even your computer being infiltrated with malware. With one click, a ton can happen. Do not underestimate the impact of one click. Prioritize security to protect your investments above all.
Using token scanners and explorers
To verify the legitimacy of a token and its official links, use tools like token sniffers and blockchain explorers to preview the legit URLs, allowing you to trade the right smart contract and follow the right social media profiles.
CEXs and DEXs can be impersonated too
Even if you have used a platform a thousand times, make sure to bookmark the legit URLs of the platforms you use to avoid ever giving your login information to a fake website pretending to be the exchange you use. Bookmarking URLs is an easy practice to keep you safe.
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submitted by /u/solanasniffer
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