Crypto scams are devastating and can rob you of your hard-earned money and dreams of financial freedom
Here are some common Defi scams and how to avoid them
{A Thread 🧵, RT for Others}
SOME POPULAR SCAMS
1) Phishing
Phishing is a scam whereby a fraudster creates malicious links, documents or websites that can steal your personal information such as passwords and seedphrase just from one click!
Scammers can also add “wallet drainers” to your DEX wallets through phishing.
This drains your wallets instantly anytime you receive any funds!
Billions of dollars has been lost due to phishing scams
In this thread, we'll explore what impermanent losses are, how they affect your profits & most importantly, strategies you can use to minimize them
{A thread 🧵, RT for others}
What are impermanent losses?
Impermanent losses are losses that happens when the price of your crypto locked up in a liquidity pool changes. This creates an unrealized loss, versus if you had simply held the assets in your wallet.
How to Avoid Impermanent Losses in Crypto?
1) Use stablecoin pools:
Providing liquidity to pools with stablecoins such as USDT or USDC can lower the risk of impermanent loss since the asset values are more stable.
The merge will eliminate the need for energy-intensive mining and instead secure the network using staked ETH. A truly exciting step in realizing the Ethereum vision – more scalability, security, and sustainability.
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The merge will immediately make the Ethereum blockchain around 99% more energy-efficient, and will set the stage for future upgrades that will make it faster and more scalable
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