OpenSea displays a broad array of crypto tokens which users can swap for.
While we don’t specifically confirm the authenticity of any token, there are a few things you can do to research it before swapping.
Check the token’s name, symbol, and contract address before swapping. Scam tokens sometimes use similar names and symbols to legitimate, popular tokens, so it’s important to double-check before you confirm your swap.
Review the token contract. On the token’s page on OpenSea, you’ll see a link to the contract address. You can look it up on the token’s blockchain explorer and compare it to the official address listed on the project’s website or social media.
Check liquidity and trading activity. Look for tokens that have active, healthy liquidity and trading activity. A higher market cap can also sometimes, not always, be an indicator that the token is legitimate.
Review the token creator’s website or social media. Legitimate tokens are more likely to have a working website with information about the token, including a whitepaper, and an active presence on social media channels like Twitter and Discord.
Be more cautious of newer tokens. Newly created tokens may have less information available and can be riskier to swap for, especially if they have no official website or whitepaper, appear to be copycats or slight variations of well-known tokens, or have no verified source code on the blockchain explorer.
Newly created tokens are discoverable by searching the contract address, but may not otherwise appear in search or on the Stats page.
Because swaps aren’t reversible, and OpenSea never takes custody of your funds, we aren’t able to offer refunds for swaps that don’t meet your expectations.
Be sure to DYOR (do your own research) before you swap!