How to Stay Safe When Trading Crypto

Secure Your Accounts

Always enable two-factor authentication (2FA) on every exchange account — preferably using an authenticator app (like Google Authenticator or Authy) rather than SMS, which is vulnerable to SIM-swap attacks.

Use Reputable Exchanges

Only use reputable, established exchanges. Be extremely cautious with P2P trades — verify the counterparty's reputation, use the exchange's escrow system, and never release crypto before confirming payment has cleared in your bank account.

Store Crypto Safely

For larger holdings, consider a hardware wallet (like Ledger or Trezor) to store crypto offline. Exchange wallets are convenient for trading but carry the risk of exchange hacks or freezes. Never share your seed phrase with anyone.

Avoid Scams

Be wary of scams. No legitimate investment guarantees returns. If someone promises "guaranteed 10% daily returns" or asks you to send crypto to "double it," it's a scam. Stick to established exchanges and verify everything independently.

Common red flags include: unsolicited DMs about "investment opportunities", fake exchange websites with slightly misspelled URLs, and Telegram groups promising guaranteed profits.