Tips for Avoiding Scams in the Crypto World

Scam in the cryptocurrency world can be interpreted as fraudulent activities carried out by irresponsible parties by tricking investors with fake offers or lures or tricking investors into providing personal information or access to their accounts.

One form of scam that often occurs in the world of cryptocurrency is the ICO scam, where a new company offers a new token/cryptocurrency to be sold to investors with the lure of big profits. Even though behind that, the company is not operating honestly and legally clean or the products and services provided are not as promised, causing losses for investors who have invested in the ICO.

Scams in the world of cryptocurrency can also occur through fake software or applications that offer access to cryptocurrency accounts, which actually aim to steal personal information or access to investor cryptocurrency accounts.

Therefore, before investing in cryptocurrencies, it is important for investors to research and watch for signs of fraud by choosing a broker or trading platform that has been regulated and recognized, as well as paying attention to signs of fraud such as promises of extortionate profits and overly generous investment offers. easy.

Tips for Avoiding Scams in the Crypto World

1. Don't Get Hypnotized by Big Crypto Returns

Many people are interested in investing in cryptocurrencies because of the large returns in a short time. However, investments that have the potential to earn large returns also carry large risks, and investors must be aware of these risks.

2. Check Reputation of Project and Development Team before Investment

Before investing in a particular cryptocurrency, it is important for investors to do some research about the development team and the project. Investors should examine the project's reputation, vision and goals to ensure that it has long-term potential.

3. Avoid Low-value Cryptocurrencies with Weak Fundamentals

Investing in low-value cryptocurrencies with weak fundamentals can be very risky. Investors should investigate the project and ensure that the potential return on investment is commensurate with the risk of investment.

4. Check Wallet and Exchange Authenticity and Security Before Transaction

Wallets and exchanges are important places for investors to transact cryptocurrencies. Investors must ensure that the exchanges and wallets used are genuine and safe and can be trusted.

5. Verify Destination Address Before Sending Cryptocurrency

It is important for investors to verify the destination address before sending cryptocurrency as an error in delivery could harm the investment. There are many bad people trying to scam investors by generating fraudulent addresses and fake addresses to accept cryptocurrencies.

6. Avoid Trading with Untrusted Third Parties

Sometimes, traders or third parties offer automated trading services or trading signals, which often lead to fraud. Investors should be aware of all offers that cannot be trusted and look for brokers or trading platforms that are trusted and accountable.

7. Beware of Phishing Emails and Scam Calls Using Famous Crypto Names

Phishing emails and scam calls often exploit well-known cryptocurrency names to deceive unwary investors. Investors should always be suspicious of suspicious messages and be careful about providing personal information, such as passwords or privacy keys.

8. Don't Trust Promo Info from Deceptive Notification Accounts

There are many fake social media accounts that offer special offers or important information about cryptocurrencies. Investors must be careful and always verify the information provider's account to ensure the authenticity of the information received.

9. Avoid Peer-to-Peer Remittance Services that Ask for Personal Information or Credit Card Details

Some peer-to-peer remittance services ask users to provide personal information or credit card details which may compromise investors' privacy and security. Investors should avoid such services and only use those that have been proven to be clear and safe.

10. Invest in Tested Cryptocurrencies like Bitcoin and Ethereum

Investors should choose to invest in trusted and tested cryptocurrencies such as Bitcoin and Ethereum. These two cryptocurrencies have been around for a long time and have a stable value, so investors don't have to worry about the safety of their investment.

11. Don't Let Emotions Drive Investment Decisions

Successful investing in cryptocurrencies requires rational thinking and a sound investment strategy. Investors must ensure that emotions do not dominate investment decisions which can affect overall investment performance.

12. Check Cryptocurrency Price Movement Trends Before Investing

Before investing in certain cryptocurrencies, investors must monitor the price movement trends of these cryptocurrencies. Investors must find out whether the price trend is rising or stable in the long term.

13. Investment Portfolio Diversification into Cryptocurrency and Other Investments

Diversifying the investment portfolio by spreading investment into cryptocurrencies and other investments can help reduce investment risk. This diversification can ensure that rising and falling prices in one type of investment do not damage the entire investment portfolio.

14. Don't invest too much in one particular cryptocurrency

While there are cryptocurrencies that are rising very rapidly, investors should be warned against investing too much in one particular cryptocurrency. Increasing the investment portfolio evenly across several different types of cryptocurrencies can help reduce investment risk.

15. Pay Attention to Important News Regarding Cryptocurrencies

Important news about cryptocurrencies, such as new regulations or announcements from significant companies, can affect cryptocurrency prices significantly. Investors should pay attention to this important news and consider the impact on their investment.

16. Save Investments in a Safe Personal Wallet

Keeping cryptocurrencies in a private and secure wallet can help guarantee investment safety. Personal wallets provide full control over cryptocurrencies, so investors can ensure that their investments are safe and protected from hacker attacks and fraud.

17. Avoid Sharing Personal Information on Unknown Online Forums or Groups

Investors should be careful about sharing personal information, such as passwords or privacy keys, on unfamiliar online forums or groups. Fraudsters often use this information to take control of investor accounts and steal cryptocurrencies.

18. Use Security Technologies, such as Two-Factor Authentication

Add an extra layer of security to your cryptocurrency account by enabling two-factor authentication. Two-factor authentication ensures that only authorized account owners can access cryptocurrency accounts, reducing the risk of account theft.

19. Find information about the broker or trading platform before buying it

Before buying a broker or trading platform, investors should do some research and find out about the reputation of the broker or trading platform. Investors must choose a broker or trading platform that can be trusted and offers adequate security features.

20. Avoid Unknown or Suspicious Cryptocurrency Assets

Investors should avoid unknown or suspicious cryptocurrencies. Investors should choose a cryptocurrency that has a good reputation and has been widely adopted by the market. Researching about a particular cryptocurrency before investing can help reduce unnecessary investment risks.


In cryptocurrency investing, there have been many cases of fraud and theft that can affect investors' investments. Therefore, investors need to be careful and pay attention to some of the things mentioned above, such as avoiding emotional investments, diversifying investment portfolios, securing personal wallets, and being careful when sharing personal information. Apart from that, investors should also always do research and find out about certain cryptocurrencies before investing, and choose a broker or trading platform that can be trusted and offers adequate security features. By paying attention to these things, investors can reduce unnecessary investment risks and increase opportunities to benefit from cryptocurrency investments.

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