How to protect yourself from monuments in the digital currency market?

With the great spread of digital currencies and their high value, in return, the attempts to fraud and the monument targeting new investors and experts alike, so they understood the mechanisms of the monument and how to avoid them became a necessary matter to keep your money and personal information.

Learn about the signs of common monument

The first step is to know the signs that indicate a fraud such as promises with fictional profits in a short time, the constant pressure to make a quick decision, or the unjustified demand for sensitive information such as private keys or passwords, as well as projects that lack a clear or transparent team in information are often unreliable.

Check the source and the platform

Never invest in a currency or project without verifying the reliability of the platform or the team based on it, and use reliable sources such as Coinmarketcap and Coingecko to verify the existence of the currency and its activity, and verify the platform assessments and user opinions before opening an account or depositing money.

Use safe digital portfolios

Choose a well -known and safe electronic portfolio, preferably, to be the Hardware Wallet, away from the electronic portfolios that depend on the Internet to reduce the risk of breakthroughs, and do not share your own keys with any party and do not store them in unsafe places.

Avoid unrealistic tempting offers

Be cautious about offers that promise fast and large profits without risk, as they often deceived to attract investors and steal their money, and real trading requires a continuous patience and analysis, and there is no magic recipe for quick profit.

Use of binary documentation (2FA)

Activating bilateral documentation in your accounts on trading platforms and digital currency portfolios adds an additional safety layer, as it requires the introduction of a temporary code sent to your phone when logging in or implementing transactions.

Stay on a permanent knowledge

Follow the news and updates related to the digital currency market and be careful of rumors and rumors that may lead to wrong decisions, relying on reliable sources and analyzing the information before making any decision is the best way to protect.