We know you’re all looking for the next token that could be yo | 🦄Uniswap🦄DeFi🦄PreSale🦄News

We know you’re all looking for the next token that could be your key to financial freedom, but crypto is largely a zero-sum game and the deeper you dive off centralized exchanges, the riskier it becomes.

Here few interesting observations and thoughts we wanted to share today - Crypto Safety Tips

Practice Good Web3 Hygiene.

Using a hardware wallet while never typing your private key into any internet-connected electronic device is really the only way you can be almost completely sure that you’re not compromised.

You should also use 2FA on all centralized/decentralized exchanges.

Always double and triple check the URLs that your wallet is interacting with and double check what exactly you’re giving your web wallet permission to do. We know it makes an already cumbersome process even more painful, but it will help you sleep better at night.

Beware the rug pull.

First, we would be aware of basically any “pre-mine” or “pre-sale” from projects with anonymous founders where there is no sign of any venture capital vetting. The chances these are rug pulls are incredibly high and we would say the potential gains are not worth the risk.

Better wait at least a few days if not a couple weeks before aping into any new token. Let the fomo hype die down and see how the team executes before dipping your toe in the water. There is a lot you can do to greatly reduce the chances of it happening.

Be cautious with degen APY projects.

While a fresh rebase token with massive APY is really tempting to dive into, make sure you proceed with caution. The higher the APY, the more inflation, the more extreme the debasement is. Without significant buying pressure these projects are a house of cards waiting to collapse.

There are multiple examples we’ve seen in the last few weeks of people getting rekt losing 80–90% of their investment over night. This is especially true if the project’s market cap is significantly above the value of its risk-free treasury assets.

Leverage, lending, and liquidations.
Beware the Ls. Leverage has been the downfall of many an investor. When you mix leverage with the volatility of crypto, it can be disastrous. Leverage with inflationary low-cap altcoins is borderline suicide and should really only be left to the most sophisticated of investors and most degenerate of gamblers.

Don’t invest what you can’t afford to lose.

We know this should go without saying, but low-cap altcoins are some of the riskiest investments you could make. Many of them will go to zero over time.

$BTC and $ETH are the mainstays of good portfolio and if your alt-exposure starts getting too high you need to siphon off some of your gains into safer assets.