We have included some best practices to stay safe while engaging with dapps:
- Make sure you have safely saved and stored important information (e.g. your PIN and Recovery Phrases) before depositing or transacting with any assets.
- Do not share your PIN or Recovery Phrase with anyone, unless you trust them with all your assets.
- Do your own research (DYOR) on dapps before you use them; only use a Dapp you trust.
- Only use as many funds as you are willing to lose, as cryptocurrencies can be volatile and high risk in nature.
- Understand any requirements, processes, and timelines. For example, consider staking MOBI on Mobius:
- Requirements: You must own MOBI.
Process: When staking MOBI, you will need to know that it is a multi-step process that includes:
- Locking MOBI
- Voting on a pool
- Manually claiming rewards
- Timeline: In order to vote on pools, you must lock your MOBI for more than a week.