# How to Trade Safely

When trading on Solana, it's crucial to understand how to protect your assets. Here's a simple breakdown to help you trade safely:

### **Common Risks in Solana Trading:**

1. **Phishing Attacks:** fake websites or links that steal your private keys or seed phrases, especially in Telegram, where people will easily call you or DM you. **BONKbot mods and admins will NEVER dm you first - anyone who does is 100% a scammer!**
2. **Malicious Contracts:** There are a few things in this case, such as **Freeze Authority enabled**, **Mint Authority** enabled, and the **Liquidity Pool** unlocked. **We go through how to protect yourself from these dangers in the next pages under Mint Authority, Freeze Authority, and LP Burnt.** 
3. A quick and easy way to keep yourself safe is to use [rugcheck.xyz](https://rugcheck.xyz/) before you buy any coin. You can paste the coin address (the unique ID of each coin), and rugcheck will tell you how safe it is. 

{% hint style="info" %}
With the dominance of Pump.fun, coins can now not be hard rugged anymore (minting, freezing, and removing LP), but users can still hold a lot of the supply and sell it, causing you to lose a lot of money 
{% endhint %}

***

### **How to Trade Safely on Solana:**

1. **Verify Websites and Links:**
   * Always double-check the URL of websites and links. Use official sources, and avoid clicking on suspicious links.
2. **Research Projects:**
   * Ideally you would do extensive research into the legitimacy of the project. With memecoins, this isn't always possible, so we recommend using scanners like [rugcheck.xyz](https://rugcheck.xyz/) to see how safe the coin is before buying! 
3. **Enable Two-Factor Authentication (2FA):**
   * Wherever possible, enable 2FA on your Telegram account. This adds an extra layer of security.
   * You can also buy a private telegram number which will keep you safe.
4. **Keep private keys secure.**
   * Never share your private keys with anyone. No matter who asks you, anyone who wants your private key or access to your telegram account is a scammer!
5. **Stay Updated:**
   * Follow reliable news sources and community updates to stay informed about any potential risks or scams in the Solana ecosystem.

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***Safety First!***
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