Staying Safe in Memecoins: A Beginner’s Guide

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The #1 goal of the people flocking to this project is to have fun, and getting scammed is NOT fun. We are all hoping to make this one of the safer places for beginners in the memecoin sphere...and most of us had to learn these lesson the hard way.

This is not an exhaustive list by any means, and you should take charge of your own security and dedicate ongoing time to learn about all safety best practices in this space, but this article is a collection of the main tips we would give to any of our friends who are starting out.

The world of cryptocurrency, decentralized finance (DeFi), Web3, and memecoins offers exciting opportunities, but it also comes with risks. Memecoins are essentially just another part of the internet, another of humanity’s great innovations that has changed the world but also has its dark corners. Every part of the internet where money changes hands is a magnet for bad actors who want to try to take that money, and any part of the internet where devices and identities can be tapped in to is going to bring hacker types to lurk on the scene. In memecoins you are 100% certain to encounter these types of lowlifes. To navigate this space safely, it’s essential to understand these basic ways to protect yourself.

To be more specific, in memecoins as a beginner, the two primary places that will be the jump of points for all scammery are Telegram and X (Twitter).

Here’s a guide to help you stay secure:

1. Protect Your Identity, Devices and Information

Platforms like Telegram and Twitter are popular in the crypto space, but they can also be breeding grounds for scammers. Here’s how to protect yourself:

• Be cautious with your personal information: Avoid sharing your real name, address, phone number, or other identifying details unless absolutely necessary. MAKE SURE to hide all personal info in Telegram and X until you have complete confidence in your own personal security apparatus. DO NOT add random people as contacts on Telegram, this will share your phone number and other information unless you have settings dialed in perfectly.
• Use  a VPN and Enable two-factor authentication on EVERYTHING (2FA): Add extra      layers of security to your accounts by enabling 2FA wherever possible and always      keeping a VPN active. Try to isolate crypto accounts and avoid co-mingling with your main life accounts.
• NEVER Get on a screenshare or enable any kind of remote access with anyone you      don’t know and trust in real life. IF people offer to give you support that involves meeting on any kind of web conference app, they are about to scam you.

2. Guard Your Wallet and Keys

Your crypto wallet and private keys are the gateway to your assets. Keep them secure by following these rules:

• Never share your private keys or seed phrases: These are like the PIN to your bank account. Sharing them means giving away control of your funds.
• Separate your Crypto Assets: Keep your main crypto assets separate from your memecoin wallets, ideally on a hard wallets where possible.
• Don’t lose your seed phrases: We recommend writing them down on a physical piece      of paper, laminate that, put it in your most secure place where you would keep your passport, government ids, etc.
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3. Be Wary of Unknown Links – Even in the Telegram Group

Phishing scams are rampant in crypto. Clicking on malicious links can lead to loss of funds or compromised accounts. Group crypto projects will have bots and community members that do their best to remove anything from suspicious in the main group, but some can still always get through. Clicking a bad link on X or in Telegram is the #1 path to getting your wallet drained. Downloading any files is the #1 vector for more serious hacks.

• Avoid clicking on links in unsolicited messages: Scammers often pose as trusted individuals or companies.
• Check URLs carefully: Look for slight misspellings or unusual domains that mimic legitimate sites.
• Bookmark trusted websites: Access important platforms through saved links to avoid phishing attempts.

4. Spot and Avoid Imposters and Scammers

Scammers frequently impersonate influencers, developers, or support staff. Recognize their tactics:

• No one legitimate will DM you first: If someone reaches out offering a deal or even just to talk, it’s likely a scam. A good rule of thumb is to ignore all DMs on both platforms until you are comfortable in the space.
• Verify identities: Check usernames, profiles, and past activity before trusting anyone. Scammers can create Telegram accounts that use the EXACT same handle as a key community member or major influencer account. If you think you might be talking to some major X account in Telegram, ask them to verify with a DM from their X…and even then beware, there are plenty of ‘influencers’ in the space who are low lifes.
• Report and block scammers: Help keep the community safe by flagging bad actors.

5. Use Reputable Platforms

Stick to well-known, established platforms for trading, storing, and interacting with crypto:

• Research before using exchanges or DeFi platforms: Look for reviews, audits, and community feedback.
• When in doubt, slow down and research: google ‘is <website> legit’ and start there.
• Avoid too-good-to-be-true offers: Unrealistic returns are often scams.

6. Secure Your Devices and Internet Connection

Your online habits can impact your safety:

• Keep your devices updated: Regular updates help protect against vulnerabilities.
• Use strong, unique passwords: Password managers can help you generate and      store them securely.
• Avoid public Wi-Fi: If you must use it, connect via a VPN to encrypt your connection.

7. Stay Informed and Skeptical

The crypto space evolves rapidly, and staying informed is key:

• Learn continuously: Follow trusted sources to understand trends and threats.
• Question everything: Scammers thrive on trust. Always verify before acting.
• Join reputable communities: Engage with experienced users in trusted groups      for support.

Final Thoughts

The crypto world is full of innovation, but it’s also a prime target for scammers. By taking proactive steps to protect your identity, wallets, and online activities, you can enjoy the benefits of this exciting space while minimizing risks. Remember, staying safe is your responsibility; never let your guard down.