🔐 Web3 Security Guide: How to Trade Safely on Decentralized Exchanges (DEX)? 🚨
Key Points:
✅ Decentralized exchanges (DEX) offer more cryptocurrency options and more direct control over assets through smart contracts, providing greater freedom compared to centralized exchanges.
✅ You can trade directly with your wallet, keeping your assets in your own control without the need to entrust them to a platform.
✅ However, DEXs also come with significant risks: fake contracts, phishing websites, unusual slippage, and liquidity traps can occur at any time.
Safety Trading Recommendations:
✔️ Use well-known DEXs like Uniswap and PancakeSwap, and avoid lesser-known exchanges.
✔️ Only access through official links to prevent clicking on counterfeit websites.
✔️ Be cautious when authorizing trading limits and regularly revoke unnecessary permissions (using revoke.cash).
✔️ Try to avoid trading pairs with excessively high slippage and extremely low liquidity.
✔️ Do not blindly FOMO, set stop losses in advance.
💬 Web3 security = the premise of freedom. Have you learned SAFU yet?