1. Understand common crypto scams. Fake exchanges, rug pulls, phishing sites, Ponzi schemes, giveaway scams, and investment “opportunities” promising unrealistic returns. If it sounds too good to be true, it is.
2. Check the exchange URL. Fake exchanges use lookalike domains. binance-verify.com instead of binance.com. coinbase-login.net instead of coinbase.com. Always type URL manually. Never click email links.
3. Verify exchange legitimacy. Check CoinMarketCap or CoinGecko for exchange rankings. Real exchanges are listed. Fake exchanges are not. Search “[exchange name] scam” on Google.
4. Check for unrealistic promises. “Double your Bitcoin in 24 hours.” “Guaranteed 10% daily returns.” “Free airdrop, send 1 ETH get 2 ETH back.” These are always scams. Always.
5. Never send crypto to “verify” your wallet. Scammers say “send 0.01 BTC to verify your address.” You send. They keep. No verification happens. Legitimate services never ask this.
6. Never share your seed phrase. No wallet support. No exchange. No airdrop. No “wallet sync.” No one legitimate ever asks for seed phrase. Anyone who asks is a scammer.
7. Check smart contract addresses. Before buying new tokens, verify contract address on Etherscan. Compare to official address from project’s Twitter or Discord. Scammers create fake tokens with similar names.
8. Check liquidity locks. On RugDoc or DEXTools, check if liquidity is locked. Unlocked liquidity means developer can withdraw all funds. High risk of rug pull.
9. Check holder distribution. On Etherscan or BscScan, check top 10 holders. If one wallet holds 50%+ of supply, developer can dump on you. Avoid.
10. Check if contract is verified. On Etherscan, verified contracts have green checkmark. Unverified contracts cannot be read. Higher risk of malicious code.
11. Check for mint function. Scam tokens have hidden mint functions. Developer can create unlimited new tokens. Use TokenSniffer to check.
12. Check for honeypot. A honeypot token lets you buy but not sell. Use Honeypot.is or RugCheck. Paste contract address. Shows if selling is blocked.
13. Research the team. Legitimate projects have public team members with LinkedIn profiles. Anonymous teams can rug pull with no consequences.
14. Check for fake social media. Scammers buy followers. Check engagement: 100k followers but 10 likes per post = fake. Real projects have engagement.
15. Avoid “presale” scams. Scammers promote presale on social media. You send crypto. They disappear. Presale links are often fake. Verify through official channels only.
16. Avoid “giveaway” scams. Elon Musk, Vitalik Buterin, CZ never double your crypto. Scammers hack verified Twitter accounts. Post giveaway links. All fake.
17. Avoid “support” scams. You have issue with wallet. You Google support number. Fake support answers. They ask for seed phrase or remote access. Use official support channels only.
18. Avoid “dusting” attacks. Scammers send tiny amount of crypto to your wallet. Transaction has malicious contract. If you interact, wallet drained. Ignore unknown tokens.
19. Avoid “ice phishing.” Scammer tricks you into signing transaction that approves spending. Never sign unknown transactions. Always verify what you’re approving.
20. Use hardware wallet. Ledger or Trezor. Transactions require physical button press. Malware cannot sign without your approval. Best protection.
