How to protect yourself from crypto scams

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Nearly 7 ,000 people in the US have reported losses of more than US $80 million from crypto scams, according to the US Federal Trade Commission.

Thoroughly research any cryptocurrency project or investment opportunity before getting involved. Look for credible sources of information, official websites, whitepapers, and reviews from reputable experts.

Research

1.

Be cautious of unsolicited messages, emails, or social media posts promoting investment opportunities. Verify information through official channels rather than clicking on links provided in these messages.

Verify Information

2.

Use reputable cryptocurrency wallets that offer strong security features. Hardware wallets are considered one of the safest options as they store your assets offline.

Secure Wallets

3.

Enable 2FA on your exchange accounts and wallets to add an extra layer of security. This usually involves receiving a code on your phone or email that you need to enter in addition to your password.

Two-Factor Authentication

4.

Always verify the URL's authenticity before entering sensitive information. Look for the padlock icon in the browser's address bar, indicating a secure connection.

Double-Check Website Security

5.

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Remember, the cryptocurrency space is still relatively evolving, making it a prime target for scammers. Stay vigilant, exercise caution, and prioritize your own security when dealing with cryptocurrencies.

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