Below are some of the most common mistakes we see Slingshot users make, along with practical advice on how you can avoid them.
Sending crypto to the wrong address or network
A common mistake in crypto is sending funds to the wrong address or using the wrong network. Blockchain transactions are final and irreversible once broadcasted on-chain. Sending tokens to an unsupported network—or an incorrect address—usually results in permanent loss.
Always double-check network compatibility and wallet addresses before confirming your transaction.
If you send funds from Slingshot to another platform (like an exchange or a wallet) via a network they do not support, you will need to contact that platform directly to see if they can assist in recovering your tokens. Ultimately, it is up to them to help you.
Transactions are final
Some users assume they can undo a completed transaction. However, Slingshot is a non-custodial application and does not control your funds. Once you initiate a transaction on-chain—whether a swap, deposit or withdrawal—it’s final. Blockchain transactions confirm within minutes or seconds, and there is no mechanism to revert them.
Buying honeypot tokens
A honeypot token can be purchased but not sold—scammers entice buyers with big promises and then lock them in by restricting sells in the contract. Always do your own research, especially when dealing with newly launched or unverified tokens.
Buying high-tax tokens
Some tokens apply taxes to transaction (buy or sell). If your slippage tolerance doesn’t account for these taxes, trades can fail. Always do your own research and be prepared to raise your slippage tolerance if these taxes exist.
Ignoring low liquidity
If a token has very little liquidity, you might face large price swings or see your swaps fail outright. On Slingshot, you can check each token’s liquidity under its stats page. If liquidity is too low, try smaller trades or wait until market interest grows. Do note that some low-liquidity tokens may not show up in Slingshot’s interface at all.
Failing to check slippage or market volatility
When markets move fast or a token has high taxes, your default slippage setting may not be enough to execute a successful trade. Adjusting slippage higher can help your transaction go through but risks a worse price. Consider waiting for calmer market conditions if you don’t want to raise your slippage tolerance.
📖 For more information on troubleshooting a trade, check out Why Can't I Sell or Swap a Token?
Falling for phishing links or fake support
Phishing is widespread in crypto. Attackers impersonate official channels (like Slingshot’s website, Discord, or Telegram) and share malicious links designed to steal login credentials. Always ensure you’re accessing Slingshot through official channels.
📖 For more information on our official links, check out What are Slingshot's official links?
Need more help?
For further assistance or troubleshooting, click on the chat bubble at the bottom right of this screen, or from within the app, under Profile → Settings → Help Center → Contact Support.