Did you miss the previous major crypto presales boom? You’re not the only one. Imagine this: a friend gets a coffee, looks at their phone, and says something like, “I wish I had gotten some tokens before prices went through the roof.” That’s the siren tune of presales, which calls to both dreamers and risk-takers.

A crypto presale is like a restaurant’s soft opening: it’s a chance for early believers to get a table before the hordes come in. Projects get people interested by giving away tokens before the formal launch. They generally talk about decreased costs or fun bonus rounds. It can feel like betting on the encore before you know who the headliner is, like buying a concert ticket.

But not everything is perfect. Presales come up like mushrooms after rain, getting people to put in their spare cash for a chance to win a big prize. Doesn’t it feel exciting? But that same garden can also have traps. When wallets get full, some ventures disappear in a flash. No fancy welcome celebration, just money that is locked up and remorse.

You should think of due diligence as your crypto raincoat. The people who work on these projects hold the keys—make sure they aren’t doxxed. A nice website and a sophisticated roadmap? Sure, but actual development needs to back up what it says. If promises come without verification, be careful. Looking for a fun place to live? If a social sounds like a robot, you should be suspicious.

Most presales happen in stages. First come, first served, or with whitelists like in Willy Wonka’s book. Early birds can get big benefits. Later phases cost more and have less sugar. Scammers adore this area because they can make “once in a lifetime” promises that disappear faster than dew on the grass.

Smart contracts should get their own attention. There is less possibility for deceit when the code is clear. If you don’t know how to code, audits by third parties can really help you feel better. Not perfect, but it’s the closest you’ll come to seeing what’s going on behind the scenes. A hard cap, which is the most amount of contributions that can be made, stops oversubscription and possible rug pulls.

Let’s be honest: FOMO (fear of missing out) may make you lose your mind. Greed is like a huge wave that hits you. Every crypto chat group has stories of people who became millionaires overnight. But fortunes can change quickly, like a horrible joke in a quiet room.

Everyone is seeking for that one project that changes everything. Keep in mind that most presale initiatives haven’t been tried yet and are very risky. It’s likely not true if it sounds too wonderful to be true. Don’t put all your money on one wager, and don’t allow hype make your decisions.

Crypto presales are like the wild west: part gold rush and part minefield. Go ahead and dive in, but stay smart and skeptical. And don’t forget that even pioneers occasionally came back empty-handed, but they always had a great story to tell.