PSA: Secure Your Crypto - Seed Phrase Safety & Due Diligence 101

Seed Phrase Safety – Your Crypto's First Line of Defense

You've heard it a thousand times, but it's worth saying again: your seed phrase is the key to your proverbially crypto castle. Treat it like your most prized possession! Write it down offline, use a pen and paper (no screenshots, folks), and keep it somewhere safe, secure, and preferably fireproof. Memorizing it might sound cool, but it's a risky game – one slip and you might find yourself up s*** creek without a paddle.

Opt for a secure safe, a safety deposit box, or even a dedicated hardware wallet that allows you to securely store your seed phrase. And if you're ever tempted to share your seed phrase with anyone (even your best friend or your pet goldfish named Goldie), don't do it! It's a one-way ticket to crypto disaster.

While you’re at it, add 2fa to your reddit vault and associated email. You can write down your 2fa backup codes as well. This adds an extra layer of security for reddit specifically.

And this goes without saying but never share your seed phrase with a stranger on the internet who is trying to "help" you

Due Diligence for projects – The Safeguard for Smart Crypto Moves

Research the Team: Who's behind the project? Do they have a solid track record? Scour social media, LinkedIn, and other platforms to verify their credibility. Whitepaper Check: Dive into the project's whitepaper. Does it sound like a legit plan, or is it all fluff and no substance? Community Engagement: Is there a vibrant community around the project? Engaged community members are a good sign of a healthy project. Technology and Use Case: Does the project have a unique selling point? Does it solve a real-world problem, or is it just another "me too" crypto? Regulation and Compliance: Check if the project complies with legal regulations in its jurisdiction. Sketchy projects tend to ignore this aspect. Risks and Red Flags: Don't ignore the warning signs. If something seems too good to be true, it probably is.

Remember, the crypto world is filled with innovation, but it's also a breeding ground for scams and schemes. By taking a little extra time to do your due diligence, you can protect your hard-earned crypto from falling into the wrong hands (which is anyone else’s rather than your own).