Avoid Scams

How to avoid most crypto related scams

In recent years, the crypto community at large has seen a huge number of scams targeting crypto exchange users so it is more important than ever to be safe online.

Scam emails

If you receive an email you do not expect, do not open it and do not click on any of the links in the email.

Many scammers pretend to be law enforcement, celebrities or a well known member of a customer support team.

If ever someone reaches out to you on Whatsapp, SMS, email, Facebook or any other form of communication asking for a crypto payment or account verification to unlock your account, claim a prize, enter a competition or for any other reason, you need to realise that someone is trying to scam you.

Most exchanges will email you when you are setting up your account to verify your details. This may happen each time you try to login. The exchanges will not send you random emails asking you to verify your details, although they might send you marketing and advertising materials about promotions.

Never share your information – do not give anyone your account information

Under no circumstances should you ever share your crypto account or wallet information with anyone on the internet or over the phone.


Anyone with your private key, recovery phrase or login details can steal all your cryptos, money, account, etc.

Cryptocurrency transactions are final

Once a scammer takes control of your account and takes your funds, there is no way to recover the funds.

Local law enforcement will not be able to help you.

How to protect yourself

  • Be wary and vigilant when trading cryptos – do your homework.
  • Visit our Info for First Time Investors webpage and keep up to date by watching our latest news videos.
  • Only buy cryptos using a reputable exchange like Bybit, ChangellyMexc or Nexo (free $25 in Bitcoin when you use this link – see conditions)
  • Use a secure and reputable wallet to secure your cryptos.
  • Think about installing a service like Nord VPN to help secure all your online transations (one account normally protects multiple devices – maybe enough for your whole family or group of friends).
  • Keep all paper records secure.
  • Enable two-factor authentication on your exchange account. For instance, if possible set-up your cell phone to receive a text message PIN code when logging in and when making a purchase or transfer.
  • Delete unexpected emails – do not click on the links in these scam emails!

Do your homework before buying cryptos

Do not invest large sums of money in something because you saw a Tiktok video or heard a rumour.

Do your homework and listen to people you trust or at least watch our latest news videos.

It is up to you if you want to make a small investment in a risky venture – it might pay off but you also might lose everything!

Be careful, know your limits and monitor your investments using Google or a service like Coin Tracking.

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