What crypto scams should I avoid?
Avoid fake investment sites with guaranteed returns, “double your crypto” giveaways, romance scammers asking for crypto, and phishing links. If it promises…
Avoid fake investment sites with guaranteed returns, “double your crypto” giveaways, romance scammers asking for crypto, and phishing links. If it promises free money or pressures you to hurry, walk away.
Why crypto is a scammer’s favorite
Two features of crypto make it perfect for fraud: transfers are practically impossible to reverse, and there is no bank between you and a bad decision, able to stop the payment. Scammers build urgency so you send first and think later. Slowing down is most of the defense.
How to protect yourself, step by step
- Treat “guaranteed returns” as an automatic no. No real investment can promise profits, in crypto or anywhere else.
- Never invest because an online friend, romantic interest, or chat-group “mentor” suggests it. That script — patience, friendship, then a trading tip — is the most common crypto scam of all.
- Get apps and exchanges only from official stores, and type web addresses yourself. Paid search ads impersonating exchanges are a known trap.
- Never share your wallet’s seed phrase or recovery words. No real support team or exchange will ever ask for them.
- Send a tiny test amount before any large transfer, and compare the address character by character — malware exists that swaps addresses when you paste.
- Turn on every protection your exchange offers: an authenticator app for two-factor sign-ins, and withdrawal allowlists where available.
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