Hi everyone! Welcome to another article.
The amount of money flowing into crypto now is insane. And with more money comes more scammers and thieves. So I want to show you a few ways to stay safe while dealing in crypto.
In this article, I want to talk about staying safe in the crypto space. This is a very ignored topic in crypto, and since hardly anyone looks at it, I decided to take it upon myself to give the details of what I've learnt so far in my few years of dealing in crypto on how to be safe.
Crypto is super un-regulated and is basically the wild west as of now, so losing your money has no guarantee of you getting it back, and there's no one to help you. You need to be smart about it and stay away from scams.
Here are a few ways to stay safe:
Don't ever give out your private keys. EVER.
Get this straight: No support personnel will ever need your private keys. This is a very popular scam format used by Telegram support scammers, and it routinely works.
In fact, no one other than yourself will ever need your private keys for ANYTHING. If they say they need it, they are trying to scam you, period. Don't ever give out your private keys, no matter how genuine it may sound. This is step 1 to safety in the crypto space.
Know that celebrities don't do crypto giveaways
Sometime last year, popular twitter accounts of celebrities were compromised and used to do "doubling scams".
No one will double your money for you
This one is the most important because people fall for it ALL the time. If someone can double your money, why don't they just send you the other half without you sending anything first? It's simple common sense to me, and it should be to you too. If someone promises to double your money, ask the, to send you the other half. That should reveal whose a scammer (99.99% of them) and who actually wants to double your money (basically no one).
Take all new projects as scams unless they have public teams and backing
If a team is anonymous with no backing, product or website, I guess it's safe to assume they're a scam and you shouldn't invest your money into them.
Investing in such teams is the equivalent of literally burning your money, and you shouldn't do that. You can always send it to me if you have no use for it :)
TL;DR: Only invest in projects that are vetted, have a public team, a product, and at least a website and roadmap with some portions completed.
I hope this helps! If you have any other steps, please leave them in the comments, and I'll compile and create a part two for this article!
If you enjoyed this article, consider reblogging, liking and following. I enjoy writing these, and I sure hope you enjoy reading them!
Till next time!