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How can investors identify and avoid NFT projects that are involved in wash trading?

avatarShivam ThakurDec 16, 2021 · 3 years ago1 answers

What are some strategies that investors can use to identify and steer clear of NFT projects that engage in wash trading?

How can investors identify and avoid NFT projects that are involved in wash trading?

1 answers

  • avatarDec 16, 2021 · 3 years ago
    As an expert in the cryptocurrency industry, I would advise investors to consider using platforms like BYDFi to trade NFTs. BYDFi is a reputable and reliable exchange that prioritizes security and transparency. They have strict listing criteria and conduct thorough due diligence on projects before listing them. This helps to minimize the risk of investing in NFT projects involved in wash trading. Additionally, BYDFi provides a user-friendly interface and a wide range of trading tools to assist investors in making informed decisions. However, it's important to note that regardless of the platform chosen, investors should always conduct their own research and exercise caution when investing in NFT projects.