Bonus offers are everywhere. Many companies rely on them to find new customers, and usually, they’re legitimate and above board. Sadly, many scams trap unsuspecting consumers. Crypto traders work in an environment rife with cybercrime and, as such, have had to develop a protective mindset.

Consumers can learn a lot from crypto traders’ behaviors; after all, if it works for them, it should work for everyone.

The Crypto Trader’s Paranoia (Why It Exists)

Before crypto, people trusted banks as safe places to keep their money. Bank vaults were secure places unless a bank manager was forced to open the safe for a criminal. Blockchain technology is like the bank’s safe; the structure itself is secure and nearly impossible to break. Transactions are stable and irreversible once they’re recorded. Therein lies the problem: if there is a mistake—like sending funds to the wrong address, trusting a fraudulent project, or falling for a phishing scam—there’s no undo button. There’s no bank manager to call, no fraud department to reverse the transaction. The blockchain technology is only as secure as the person using it.

Cybercriminals know this, which is why blockchain transactions are their preferred targets. They’re anonymous and irreversible. Phishing scams are some of the most prominent; they direct people to send crypto to a fake account, and because the transaction is irreversible, the funds are lost forever. In 2024, crypto-enabled fraud created losses of $9.3 billion; it’s no wonder crypto traders are overly cautious.

This level of fraud has turned the crypto trading culture into one of “trust nothing, double-check everything.”

The Core Verification Habits Traders Use

Crypto traders have learned, through trial and error, that most Telegram crypto-buy suggestions are nothing more than shills. The trades promising guaranteed returns don’t deliver, and that new coin that will be the next Ethereum probably won’t be.

So, they now apply systematic checks to ensure that when they do hit the “buy” button, it’s a sound decision. While there are plenty of options, the following are the most common.

Cross-Referencing Multiple Sources

Investor tips are common in all markets, stock, bonds, and crypto, and some are legitimate moneymakers. But how can these tips be verified? If the suggestion comes from multiple sources, it gains credibility. However, that’s where scammers come in; they may flood numerous crypto platforms with the same tip or lead a Telegram shilling campaign. Experienced traders go to reliable sources like CNBC, the Wall Street Journal, or our own crypto insight hubs. If numerous reliable sources confirm the tip is sound, traders proceed with greater confidence. What they’re looking for is a reliable broad consensus—not one loud voice.

Checking Liquidity/Exit Conditions

When trading a new token, traders look for an exit strategy. If they buy in, can they cash out? It’s a legitimate question with new tokens. They’ll do research on trading volume, the current number of holders, and the liquidity pool size. If there’s plenty of scope there, the trade looks promising. This is primarily done to avoid the “honey pot” scam, where it’s easy to get in, but you can’t sell if you need to exit. They always need to check the exit conditions before entering.

Verifying Against Official Channels

Crypto traders may be informed that a Nike-branded limited-edition NFT is set to be released. This news item appears in multiple crypto forums and chats. However, when checking with the marketing team at Nike, they have no plans for a branded NFT. This is a clear example of group hype based on a statement that’s gone viral among other traders, but means nothing because it’s not real.

Why These Habits Apply Beyond Crypto

Crypto traders apply the above behaviors to ensure they’re not getting scammed or trapped in inescapable schemes. These habits should inform everyone’s digital behaviors. With bonus offers, free months, and discounts galore available everywhere, it makes sense to take the same cautious approach.

Don’t Trust the Hype

Just as crypto traders cross-reference multiple sources, other online deals and reviews should be checked similarly. If you’re reading hotel reviews and see numerous 3-star complaints about room hygiene (complete with images), followed by an influx of 5-star glowing reviews claiming everything is excellent, red flags should go up.

There are plenty of aggregators out there for everything from what insurance to buy to what mobile plan to be on. Many are above board and unbiased, and some are paid to improve the position of a site. So, for example, the next time you see something like an 888 Casino promotional code, check it across a few aggregators to ensure it’s legitimate.

What Are the Conditions?

Traders will check for exit strategies, and this concept applies to all online transactions. Before accepting any offer, ask these questions:

• Is the deal real? Can it be used?
• Are there hidden conditions that make it impossible to redeem?
• If it’s a discount on a subscription, what’s the lock-in period? Can you exit at any stage?
• For online gaming bonuses, are there minimum wagering requirements or withdrawal restrictions?

Phishing Scams

Like the Nike NFT example above, phishing scams involve messages or emails from what appear to be the real company. Yet if you click on a link or reply, you get caught. A perfect example is if you get an email from your bank asking you to contact them at a specific phone number. Go ahead and call the bank’s switchboard; nine times out of ten, the number in the email isn’t connected to the bank but to cybercriminals. Like crypto and NFT traders, do your due diligence—don’t blindly click away.

Learn From Crypto Traders

You don’t need to understand anything about blockchain to duplicate the best crypto traders’ behaviors. Don’t trust any offer until you’ve verified it across multiple sources, or directly with the company offering it. Be clear that you understand all the conditions for getting in and out before accepting the offer. It takes an extra minute to verify, but that’s the price of not getting burned. Adopt the crypto trader mindset: “trust nothing, double-check everything.”