Useful Tips on How to Prevent Cryptocurrency Fraud or Scam

By Azeez Mustapha

PUBLISHED: Jan 03 2023 @ 05:23 | Comments (0) | More info about Azeez Mustapha

Below are a few tips to help you prevent bad actors from hacking into your crypto funds and accounts.

Protect the seed phrase in your wallet. The seed phrase is like a kind of password. Through the seed phrase, you can recover your crypto funds even if you lose your phone, password, or cold storage wallet.
Avoid clicking on links sent to you via direct message. Some of these links are designed to capture vital information from your computer.
Always double-check the URL of your wallet’s website. This will ensure your safety from fraudulent clone websites.
Connecting to the public internet could be dangerous. Avoid connecting to the public internet.
Do not leave Bluetooth on when you are not using it.
Avoid using other people’s personal computers to access your wallet.
Be careful of Telegram’s automatic downloads of images, gifs, or other files because some of them can be spyware designed to rip information from your PC.
You need to make some settings on the Telegram app that prevent your account from being automatically added to some groups without your consent.

In a situation where you want to participate in an airdrop that will require the connection of your wallet, you should use an entirely new wallet for that purpose. Be careful, in most cases, an airdrop that requires the connection of your wallet is usually a scam.
In a situation where you see some strange tokens in your wallet and you don’t know anything about how they got there, do not spend the token. This is because it could be a program designed to rip information from your wallet.
Keeping your funds in a cold wallet is much safer. A cold wallet assures a measure of safety for your funds.

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