1. Do your research: Before investing in any cryptocurrency, it's important to understand its technology, use case, and potential risks. Read whitepapers, follow news and social media feeds, and understand market trends.
2. Diversify your portfolio: Don't put all your eggs in one basket. Consider investing in different cryptocurrencies and other asset classes to spread out your risk.
You shouldn't only trust every words you've read on the whitepaper, you need to verify and try yourself to proving if they're not lying. This is why most people are fall on scam projects because they're easily get tricked.
Well there's no risk management if you diversify your portfolio to various cryptocurrency because when the market is bullish, the other coins price will increase too. When the market is bearish, the other coins price will decrease too. You need to diversify to other assets e.g. stock, gold, real estate etc.