‹ CHAPTER 5, ALL LESSONS

EXPLORER · CHAPTER 5 · LESSON 5 OF 5

Common scams

Golden rules of safety

What rules protect you from almost every scam? 3 min

Scams change every month. The rules that defeat them do not.

  • Never share your seed phrase. Ever.
  • Nobody gives away free money. Doubling and guaranteed returns are scams.
  • Urgency is a weapon: "act now", "last chance", "your account will be closed". Slow down.
  • Real support never contacts you first.
  • Check the full address before every payment.
  • Send a small test amount before a large payment to a new address.
  • Do not tell people how much bitcoin you own. Physical threats exist too.
  • If you are unsure, stop. Bitcoin will still be there tomorrow.

What to remember

  • Never share the seed, never chase free money.
  • Slow down when someone rushes you.
  • Test with a small amount and keep your holdings private.

Quick check

A message says your account will be closed in one hour unless you act. What does the urgency suggest?

You must send a large payment to a new address. What is the wise first step?