5 Top Tips To Help You Avoid Scams Selling Fake NFTs
(Learn valuable tips that will help you avoid getting caught by scammers trying to sell you fake NFTs.)
Suppose you’ve decided you want a slice of the enormous profits generated by the Nova-Dox trading software. In that case, you’re probably planning on purchasing your first Jimmy the dog NFT from our OpenSea page.
Nova-Dox is generating a lot of hype among early investors. So while you are probably tempted to ‘Ape In’ as soon as possible so as not to miss our early-investor incentives, you should take a couple of breaths before picking up your first NFT dogs to ensure you don't fall victim to scams.
This post will give you the tools you need to avoid being caught by NFT scammers who have already started peddling fake Nova-Dox NFTs.
Five Steps to Take Before Buying an NFT
The list of tips we’ve curated for you here will help protect you from all NFT scams, not just those Nova- Dox NFT dogs, so consider using them before spending your crypto on any good NFT to invest in.
1. Follow Links On The Official Website
Even though online shopping has been around for three decades, the web is still awash with scam websites, and people lose millions of dollars yearly to these scammers.
When NFTs came about a couple of years ago, scammers quickly transitioned from fake Apple sites to setting up fake pages on OpenSea and other major NFT marketplaces.
Although the marketplaces tend to react quickly to fake pages relating to the most notable projects, such as the Bored Ape Yacht and CryptoPunks, they’re much slower to move regarding new collections like ours.
Look at the image below comparing the legitimate Nova-Dox page to a fake to get an idea of how easy it could be to get them mixed up.
2. Check out The Team
When you buy an iPhone or a Samsung, you have the peace of mind that the world’s best engineers and designers put the hours in to create your new smartphone. However, without a good team, a new smartphone, much like an NFT project, is nothing but a cool idea.
Therefore, you should always look up the team behind an NFT collection before you part with your precious ETH.
Scam projects and pump-and-dump schemes rarely have a reputable team behind them, and the scammers want to remain anonymous for obvious reasons.
On the other hand, blue chip projects that are in it for the long run will almost always have a website where you can quickly familiarize yourself with the team.
The Nova-Dox team is composed of industry experts from all around the world who share the belief that NFTs can be a source of wealth and used to help our society become a better place for humans as well as abandoned dogs.
In addition, you can get to know every member of the Nova-Dox team and their credentials on our official site.
3. Read The White Paper
Reading white papers isn’t anyone's favorite pass time; however, if you’re serious about making money in the blockchain space, it's a sacrifice you’ll have to make.
A white paper, or in Nova-Dox’s case, a ‘Doggie Paper’, outlines the core objectives of an NFT project and gets into the details of how the team plans to turn their goals into reality.
When you read a white paper, ask yourself if the goals outlined in the road map are feasible, does the team have a clear objective, and most importantly, do you personally agree with the objectives and their potential to generate solid returns in the future.
Furthermore, when reading the white paper, try and get a feel for the level of professionalism; if it's littered with grammatical errors, awkward formatting, and a generally rushed feel, you could be dealing with a scam or low-effort project.
4. Join The Social Media Community
When it comes to the crypto world, community means everything; where would CryptoPunks be if it wasn’t for the people on Discord and Twitter constantly talking about the now world-famous pixelated characters?
If, like me, you aren’t a huge fan of social media, spending hours browsing through various platforms can be taxing, but it's well worth the time when it comes to NFTs.
By joining the social media community of an NFT collection, you can learn about the latest developments and exchange ideas with like-minded NFT enthusiasts.
In addition, some NFT developers are keen to involve their community in the decision-making process that drives the project towards its next target on the road map.
For example, Nova-Dox plans to get its community involved in the project’s development by allowing Jimmy NFT holders to vote on where in the world the next Dog Paradise for abandoned dogs should be built to help local dog adoption charities.
You can join the Nova-Dox community on Discord, LinkedIn, Twitter, Telegram, Facebook, Reddit, and YouTube.
5. Avoid Phishing Scams
The internet and Phishing scams have a long and painful history that began pretty much the moment people started shopping online.
A phishing scam will try to trick you into handing over your personal data, like a social security number or credit card details, using fake links embedded in e-mails and social media posts.
Phishing scams haven’t overlooked the NFT space; scammers will try and squeeze you for your wallet's password or 12-word seed phrase.
For example, in early 2022, a suspect phishing scam resulted in just under $2 million being stolen from OpenSea users who were tricked into giving up their 12- word seed phrases.
The best way to avoid falling victim to phishing scams is to follow the previous four steps in this guide and never under any circumstances hand over your 12-word seed phrases or wallet passwords.
A top tip for keeping your 12-word seed phrase safe is to write it down physically on a piece of paper and then store it in a secure location; this will keep it safe from online hackers.
Nova-Dox, good for dogs and your wallet
Author: Peter Barker