I've seen too many people get burned by crypto scams. That Squid Game token disaster was a harsh lesson for everyone. To protect myself, I follow a strict checklist before investing in any new, hyped-up token. Here are my personal tips for staying safe.
✅ First, I go straight to the technicals. I never buy a token without verifying its official contract address on a trusted site like CoinGecko or CoinMarketCap.
✅ Then, I run that address through a token scanner like Token Sniffer. These tools analyze the smart contract for red flags, like functions that prevent you from selling or allow the owner to mint unlimited new tokens. A bad score here is an immediate deal-breaker for me.
✅ Next, I do my own research, away from the social media hype. I read the project's whitepaper to see if it outlines a real use case and has realistic tokenomics, or if it's just full of empty jargon.
✅ An anonymous team with no verifiable track record is a massive red flag. I look for founders with real, public profiles and a history in the space.
✅ Finally, I check the community vibe. I join their Telegram and Discord channels to observe the conversation. Is the team transparent and actively answering tough questions, or is the chat just filled with spam and "wen moon" bots? A project with no genuine developer activity or a community that feels toxic is one I avoid.
💡 A few minutes of due diligence can be the difference between a good investment and a total loss. Don't let FOMO cloud your judgment. Stay skeptical and stay safe.
❓❓ What's the #1 red flag you always look for? Share your best safety tip in the comments below to help others!
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📣 Quick heads-up: Tomorrow, I'm doing a deep dive on Render Token $RNDR .
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