Protect Your Digital Pocketbook – 6 Tips to Avoid Losing Millions in Crypto Scams

Consumers lost $139 million in cryptocurrencies in 2021 through scams conducted across numerous online dating sites – five times the level of prior year losses. 

As ownership of cryptocurrencies like Bitcoin and Ethereum increases among consumers, scams like these will continue to proliferate, putting your digital assets at risk. 

If you’re among the millions of Americans who now own cryptocurrencies, these six tips will help you protect your digital assets and avoid losing money to scammers. 

Perform Your Own Due Diligence

Like any investment, trusting a so-called expert is often a risky move—particularly in an emerging asset class like digital currencies. 

Protect Your Virtual Wallet

Never share your private key or seed phrase with anyone. Take the added security step of storing that personal information offline. 

Watch Out for Phishing Activity

Some phishing scams will try to be slick by changing one or two characters of a web address to make it still look legitimate. 

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