What are the risks of not verifying tokens?

Trust Wallet supports thousand of coins and tokens. Some of the most common tokens are ERC20, BEP2/BEP20, TRC10/TRC20, etc.

If Trust Wallet haven’t added the project manually after a thorough check, you cannot be sure of the reliability of this coin.

Anyone can easily add a custom token.

Unfortunately, simplicity attracts not only promising projects but also scammers. It is worth remembering that even a reliable project can become a SCAM due to certain circumstances.

To secure your assets, you can follow a few simple tips from this article.

  • First of all DYOR (Do Your Own Research).

Remember Trust Wallet takes care of the security of your wallet. But you have to decide for yourself what to store in it and be responsible for it.

  • Get token information

If you are interested in some tokens - check their official resources. Reliable projects have a website and pages on several social networks. They have been active for a long time, and the community is real people, without bots.
Support answers questions and is always in touch. Be sure to learn more about the team that created this coin.

Scammers will set up pages that have a similar name to real crypto pages

  • Explore blockchain

You can use BSCSCAN or ETHERSCAN to check information about transactions, blocks, wallet addresses, smart contracts, and other network data.

  • If you don’t understand the information of smart contracts check for Smart Contract Audits

A smart contract audit performed by security specialists provides for the independent estimation of the code generated to implement the smart contract’s terms. The auditor must be trustworthy.

  • Verify a token by sources

Use a source like CoinMarketCap or CoinGecko. These sites usually have a lot of information you need.

  • Check the availability of this coin on the exchanges (CEX or DEX)

Before you receive coins on your account, check whether you can sell or swap them. To do this, check out a few resources. Also, do not forget that tokens can be delisted.

So, it is always a must to check it directly on exchanges where you plan to sell them.

  • Finally, make your decisions wisely.

If you have any doubts, you can ask your question in support or ask in the community. We will help. :trust: