How to avoid cryptocurrency scams

One of the best ways to protect your crypto investment is to secure a wallet and do your own research about the projects in the market.

Don’t believe everything you’re told. Instead, examine any claims made about investment, especially if they appear too good to be true or promise huge returns in a short period. Also, do not trust anyone who contacts you personally, whether a government official, a public personality, or a stranger, and asks for Bitcoin payments or offers you an “investment opportunity.”

Whenever possible, enable two-factor authentication on your cryptocurrency wallet and exchange. Moreover, never give anyone your crypto wallet’s private key or seed phrase, and keep that information offline in a cold wallet.

Check the URLs of websites two or three times. For example, when trying a phishing scam, scammers will replicate the URL of a valid site and replace letters and numbers, such as an “l” for “1” or a “0” for the letter “O.” Furthermore, any offer that requires an upfront cost should be rejected, regardless of the amount, especially if the price must be paid in cryptocurrencies.

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