How to protect yourself from

cryptocurrency scams?

 

Protecting yourself from frauds on the internet is essential if you want to buy cryptocurrencies. The following steps will help minimize the risk of fraud and secure your cryptocurrencies:

 

1. Use reliable exchanges and payment gateways

One of the most important steps when buying cryptocurrencies is using reliable exchanges and payment gateways. Avoid trading on unknown and centralized exchanges that have poor reviews or are suspicious. Trust only verified exchanges, and some of the most reliable exchanges that we can recommend are Bisq, localmonero, bitstamp, and Acechange.

 

2. Store cryptocurrencies in an offline wallet

To protect your cryptocurrencies and reduce the risk of theft, store them in an offline wallet. There are different types of wallets available, such as hardware wallets, which are physical devices, or software wallets, which are installed on your computer or mobile device. In this article, we have selected the best crypto wallets for you.

 

3. Never share private information

Never share your private information, such as passwords, private keys, or PIN codes, with anyone, even your best friend. Sharing this information could allow unauthorized access to your cryptocurrencies. When changing your password or PIN code, make sure you use strong and secure passwords. Never use the same password on multiple websites.

 

4. Beware of phishing attacks

One of the most common frauds on the internet is phishing attacks, where scammers pretend to be legitimate websites or services and try to get your private information. If you receive a suspicious-looking email or link, do not click on it and do not send your private information. If you want to provide your internal information, first verify that the websites are genuine.

 

5. Research the market and do thorough research

When investing in cryptocurrencies, research the market and do thorough research first. Find out what the latest trends are on the market, how the development of cryptocurrencies has manifested itself in the past, and what the future forecasts are. Look for information from reliable sources and compare different exchanges and cryptocurrencies so that you can make informed decisions.

 

6. Don't invest all your savings

Cryptocurrencies are very volatile, and prices can change quickly. Therefore, do not invest all your savings in cryptocurrencies. Invest only the part of your savings that you can afford to lose. Never forget the backup plan.

 

7. Use a secure internet connection

 

When buying cryptocurrencies or using your wallet online, it's always necessary to use a secure internet connection. Avoid using public Wi-Fi networks, which can be easily hacked by cybercriminals. To protect your private data from theft, use a secure internet connection such as VPN or SSL.

 

8. Avoid offers of "get rich quick"

Avoid offers like "get rich quick" or "guaranteed profit." The use of these phrases likely means it's an internet scam. Only invest in cryptocurrencies that you have studied yourself. Always invest only a portion of your capital.

 

9. Perform regular backups of your wallet

Keep in mind that there is always a risk of losing private keys or something else happening to your device that could lead to the loss of your data. To be able to recover your cryptocurrencies, it's necessary to regularly backup your wallet. Most wallets allow you to backup your cryptocurrencies to another device or to the cloud.

 

Cryptocurrencies can be a very interesting way to invest your money, but they can also be risky. Therefore, it's important to be cautious and follow at least basic security rules to protect your assets.