Keep your mnemonic phrase and keys secure

• A public key is an address used to receive funds. It is safe to display it publicly.
• A private key is used to sign transactions. YOU ARE THE ONLY ONE WHO SHOULD HAVE ACCESS TO IT!
• A mnemonic phrase is a 12 to 24 word phrase that permits access to a wallet.
• Public key + Private key, or a mnemonic phrase, ALLOWS COMPLETE ACCESS TO YOUR FUNDS!
• KEEP YOUR PRIVATE KEY AND MNEMONIC PHRASE SECURE
• Avoid hodling large amounts of cryptocurrency in exchanges since they are susceptible to hacks
  • Your keys = Your wallet
• Keep cryptocurrency and NFTs in a cold wallet when possible
  • e.g. hardware wallets like Ledger and Trezor
• Only store assets in a hot wallet (One exposed to the internet) temporarily

Watch for scams

Scams are all too common in the crypto space, and they can cause even the most knowledgeable or careful to lose everything. Here are some precautions you can take to avoid them:

• Turn off Discord DMs in crypto-related servers (How to do it)
• Always check if a URL is legitimate for the website you are visiting
  • Bookmark websites to cross-check URLs and avoid malicious sites
• Do not click on links in emails and Discord messages
• If something sounds too good to be true, it probably is
• Never input a private key unless you are securely and intentionally doing it
  • There are scams that disguise themselves as crypto wallets
• Check that NFT projects are verified on NFT marketplaces
  • Indicated by the blue checkmark on OpenSea

Do your own research (DYOR)

Because of the volatile nature of cryptocurrency and NFTs, FOMO (Fear of Missing Out) and FUD (Fear, Uncertainty, and Doubt) is common. Here are a few tips to research crypto projects (not financial advice):

• Do thorough research of a crypto project similar to researching other investments
• Check reputability, community involvement, and whether it commits to promises
• Check if the project has its members doxxed
• Do not risk more than you can afford to lose
• Understand that most projects are not considered “investments” and are therefore not regulated as such

Be aware that crypto is a high risk asset

• Extreme price swings in crypto-related assets are common
• Be aware of cryptocurrency and NFT liquidity
  • Make sure assets are sellable to a degree you are comfortable with
• Only invest in well-known cryptocurrencies and projects
• Be aware of “pump and dumps” schemes and rug pulls