Learn Crypto with Bit.Fan Academy
From beginner to advanced — master exchanges, wallets and blockchain essentials
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What Happens to Bitcoin When You Die?
When you die, bitcoin does not pass to family automatically. Access depends on private keys, exchange records, and estate planning done in advance.
How to Buy Bitcoin in India Safely
Want to know how to buy bitcoin in India? Start with ID verification, use a small test buy, and secure your account before holding BTC.
Where to Cash Out Bitcoins Safely
Where to cash out bitcoins depends on the route you choose: exchange sale, peer-to-peer trade, or OTC service. Safety, fees, and payout speed matter most.
What Is a Honeypot Crypto Scam?
A honeypot crypto scam is a malicious token setup that allows you to buy crypto but prevents you from selling or withdrawing it, resulting in trapped funds. In 2026, honeypots remain one of the most common traps on DEXs, with scammers using more sophisticated contract kicks and even ready-made scam templates. They work in one of two ways. The most common involves tokens that can’t be sold or transferred due to hidden contract restrictions. Another method is more hands-on and involves sending tokens to a scammer’s wallet. Ultimately, the tokens can’t be withdrawn. In this guide, we’ll detail the two types of honeypot crypto scams and learn what to look for to avoid becoming a honeypot statistic. Let’s dig in. Honeypot Crypto Scam Meaning A crypto honeypot is a scam that tempts crypto users into losing their valuable tokens, such as ETH or SOL. The scam can work in two ways, with both methods using a flawed contract. The more commonly seen honeypot involves tokens, often meme coins, sold on decentralized exchanges. However, a function of the token blacklists buyers, making the token impossible to sell again. In 2026, honeypots are increasingly deployed using pre-built “honeyport-as-a-service” kits that allow even non-technical scammers to launch malicious tokens easily. In 2025, crypto hacks, exploits, and compromises cost investors more than $3.4 billion, with analysts claiming that the real figure is significantly higher because of underreporting. However, most scams go unreported within the crypto industry. Here’s a list of different types of crypto scams, and how they work.
What Is a Self-Custodial Wallet (Non-Custodial Wallet)?
A self-custodial wallet, also known as a non-custodial wallet, is a type of cryptocurrency wallet that allows users to manage their private keys and have direct control over funds stored on a blockchain network. TL;DR Self-custodial wallets allow users complete control over their private keys and crypto assets. Setting up a self-custodial wallet does not require the user to share any personal information with a third party. DeFi and GameFi platforms often require self-custodial wallets because they allow users to interact directly with smart contracts and decentralized applications. In the early days of cryptocurrency, all wallets were self-custodial. Today, this type of wallet may not be a good choice for new users who don’t understand asymmetric cryptography’s role in blockchain transactions.
