How to avoid NFT scams? Research before buying NFT!

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NFT is a scam in itself anyway

Irreplaceable tokens or NFTs have made millions of dollars in sales over the last few months. Whether we like the NFT concept or not, Jack Dorsey’s Twitter post has gone up by $ 2.3 million. NFT is inevitably there, but it is not exempt from fraud. All users of NFT collecting can easily become deceived and can become victims of theft.

To avoid fraud, experts advise users to take the following position: “It is best practice to assume that all are frauds until proven otherwise.

NFT sales have jumped $4 billion since the beginning of the year. At the same time, the number of “NFT scams” searches have increased. From the beginning of the year until today, the record of typing this keyword has been broken in the Google search engine. It is obvious that people are increasingly interested in this topic.

Crypto scams are sophisticated and it is important to have some prior knowledge on how to avoid them. It is important to know how to identify them in order to avoid them. NFT scams occur when hackers access the admin panel and post fake forging links on the channel. The message in this case usually looks like it came from the project organizer and offers an agreement that looks more than good. One such example is, “Because of demand, we are releasing another 1,000 NFTs.” It is very important to know that serious projects will never send a single message in DM to their customers.

Another scam is that users ask users to have their private keys. It is very important to know that you should never give your private key to anyone.

The next important recommendation is to have a hardware wallet. If you decide to have a software wallet, it is important to have reliable associates. Ladger and Trezor are often recommended in this direction. Before you decide on the software that will be your wallet, it is important to inquire about the reliability of the software.

It is clear that when you decide to work with NFT, it is important to be ready for everything. One of the basic theses is that you have to be prepared to lose everything. In the online world, we cannot find a textbook and recipes that will protect us from fraud forever and in every situation. That is why it is very important that you are constantly informed. Although it all sounds complex and boring, it’s actually exactly the same as in the real world. We do not trust every trader, we are careful and willing to take risks.