As cryptocurrency becomes more mainstream, so do the scams targeting unsuspecting investors. Here are ten practical ways to protect yourself from falling victim to a crypto scam:
- Always Research Before Investing
Verify the legitimacy of the project, the team, and their credentials. Look for whitepapers and roadmaps. - Use Reputable Exchanges
Stick to known, regulated crypto exchanges. Avoid sketchy platforms with no customer support. - Never Share Your Private Keys
Your private keys are like your bank PIN. Never share them with anyone—even support staff. - Be Skeptical of Unrealistic Returns
If it sounds too good to be true, it probably is. Scams often promise guaranteed or extremely high returns. - Enable Two-Factor Authentication (2FA)
Use apps like Google Authenticator to add an extra layer of protection to your accounts. - Double-Check URLs
Many scams use lookalike websites. Always verify you’re on the correct site before entering your details. - Avoid Cold Contact Offers
If someone reaches out unsolicited about a crypto opportunity, it’s likely a scam. - Use Hardware Wallets for Storage
Store your cryptocurrencies in a hardware wallet for maximum security, especially if you’re holding large amounts. - Be Cautious on Social Media
Scammers often pose as influencers or support staff. Always verify accounts. - Report Suspicious Activity
If something feels off, report it to the platform or to a crypto recovery service like Lost Coin Rescue.
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