Three things you can do today to avoid cryptocurrency investment scams

In the last year the amount of cryptocurrency held by the average investor has increased by more than 15% according to the Financial Conduct Authority. Like with any popular investment, there are always scammers out there looking to take advantage of this.

There are some easy steps you can start to consider when addressing this risk:

Stay sceptical

Always remain sceptical of any websites or services that promise high returns or unrealistic investment opportunities. Like anything, if it sounds too good to be true, the likelihood is that it is. Another easy giveaway is to watch for spelling and grammatical errors on emails or the webpage.

Only use trusted third parties

Only send your cryptocurrency to trusted third parties, you can find these by searching for publicly verifiable reviews or consumer protection websites involving the party.

Do not give away security information

This may seem obvious but no matter the circumstances, do not provide your passwords or security codes to third parties. You are responsible for any payments submitted using your authentication credentials.

For more information on how to stay safe online visit our website where we offer a range of resources, including a FREE core membership package.