With the rising rate of crypto scams and hacks, Lucie (@LucieSHIB), a prominent Shiba Inu team member, has shared tips to keep the SHIB army safe in the crypto market.
In her post on X, she listed 7 steps anyone looking to invest in a crypto project should take. The post is aimed at safeguarding the interests of SHIB army members and helping them steer clear of potential crypto scams.
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Lucie’s Recommended Steps
Research the Project: Lucie recommends that users interested in a crypto project should understand its purpose, goals, and technology. Many crypto projects have no prospects and try to sell their tokens based on technology that does not exist yet. Thorough research into a crypto project will reveal the holes in scam projects and save potential investors a lot of money.
Analyze the Market: For the second point, she highlights that users should assess the potential growth of their preferred token as a reference. Even some legitimate projects might have problems that make them financial flops in the market. This analysis is crucial for anyone looking to profit in the crypto market.
Check the Team: This is another way to tell if a crypto project is safe. The stronger and more experienced the team, the safer the project. Lucie says, “Look into their experience and credibility.” Although some of the top cryptocurrencies like Bitcoin and Shiba Inu have anonymous users in Satoshi Nakamoto and Ryoshi, the identities of team members bring assurance to them.
Engage with the Community: Although it has become easy to spam social media with bots, carefully looking around and engaging can help users identify the bots. Projects with potential have communities backing them, and they have investors. Lucie suggests that users connect with the investors and gauge their sentiment.
Assess Risks: Lucie advises that risk assessment should be at the forefront of every investor’s mind. With the crypto market’s volatility and potential scams, anyone looking to invest in a crypto program should understand the importance of risk assessment.
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Seek Professional Advice: Lucie suggests that investors consult experts if needed. This way, investors can gain as much knowledge from people who have made the same jokes.
Stay Informed: Finally, she asked that everyone keep up with the latest news and developments. Tokens can increase or reduce in value in the blink of an eye. Lucie ends her post by reminding everyone to stay involved and only invest in what they can use.
Meanwhile, the Shibarium Scam Alerts account recently shared ways for users to spot scams. Now, more than ever, users in the crypto market have to be careful.
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