Items to Consider Additional Resources Tips For a Safe

Before Investing
Cryptocurrency
The below table reflects some of the most The following websites may provide
common examples of fraudulent, illegal, and legal
crypto exchanges and/or websites.
additional information: Experience
It is important to note that scams work because www.ic3.gov
they often appear as legitimate activity.
Fraud types and schemes
Report a crime

Information can Information is Information is www.secretservice.gov

be found online limited on not available for Cryptocurrency Awareness Hub
for the company, the company, the company and
white papers, white papers, products and no PSA videos
and products. and products. white paper is Common definitions
available.
Crypto in the news
Website has a security Domain appears Suspicious domain
certification, good similar and has name (.xyz), website
grammar, company company logo has misspellings, www.fbi.gov
logo, and secure but contact and no security
payment options. information is certificate.
Cybersecurity Awareness Videos
Verifiable contact not verifiable. Submit a tip/report a crime
information.
Reviews are good Reviews Reviews are
and indicate happy are limited negative and https://consumer.ftc.gov
customers. or include no indicate customers What to know about cryptocurrency
details on have been scammed
customer or were involved in
experience. bad activity. https://sec.gov
Has Has minimal Country has no or Crypto Assets and Cyber Unit
country regulator oversight. limited regulator
and oversight. oversight.
Product is Product is State and/or federal https://crypto3c.org/
regulated by state not regulated authority has Reporting on common scams
and/ or federal by any state warned about the
and/or Combating Illicit Activity Utilizing Financial
authority. federal product/exchange.
authority. Technologies and Cryptocurrencies
You are only able to You are
conduct transactions being requested
on your own behalf. to deposit/ This program enable U.S. Government analysts
transact on behalf of
another person.
and private sector partners to gain a greater
understanding of how their disparate, yet
Return is based Is there a
on investment promise to
complimentary roles can work in tandem to ensure
Is there a promise mission success. Participants work to create joint
and time. make to make money at
money within no cost or within
analytic products of interest to both the private
two to three 24/48 hours? sector and the U.S. Government.
months?
Are you required to Exchange does not Exchange requests This product was produced by AEP participants.
provide a photo ID, require information which
address any information could be used for
and telephone to transact. identity theft to
Disclaimer Statement: The views and opinions expressed in this document do not necessarily state
number before include security or reflect those of the United States Government or the Companies whose analysts participated in
making purchase? questions/answers. the Public-Private Analytic Exchange Program. This document is provided for educational and
informational purposes only and may not be used for advertising or product endorsement purposes.
All judgments and assessments are solely based on unclassified sources and the product of joint
public and private sector efforts.
 What You Need to Know
About Protecting Yourself About the Cryptocurrency About Digital Assets
Service Provider
Transactions involving digital assets can be The cryptocurrency market is changing and growing As with any investment, it is important to
overwhelming. Below are a few items to know daily. As an investor it is important to understand how understand exactly what you are investing in
to keep you and your digital assets safe from to identify available resources, and the indicators of a before you start. Crypto is an evolving world, and
bad actors. good or bad exchange as well as understanding that exchange ratings change often. Conduct your
with the changing market, those resources may also research before investing.
change. Additionally, you must have a firm grasp of
Online Use and Wallets
your own comfort level with the risk posed in trading Ensure that you understand cryptocurrency
and investing in cryptocurrency. key terms such as:
 NEVER invest money you cannot afford to lose.
 Use 2-Factor Authentication (such as a Below are some items to consider and understand  Bitcoin and Altcoins
password and a phrase, a fingerprint, or before investing in the cryptocurrency market.
a confirmation text).  Token/Non-Fungible token (NFT)
Before selecting an exchange/platform, understand  Blockchain
 Safeguard your passwords and do not who the company is and read up on the company.
repeat them or share them. Below are exampled of items to understand about  Public Key/Address
 Maintain your own private key for your the company.  Wallet and Private Key
digital wallet.  Team/Ownership/Partnership  Seed Phrase
 Store your digital funds in a secure wallet. Publicly available profiles and ownership
information as well as company goals and Cryptocurrency
 If you did not request to reset your password, partners or investors.
do not click the link. Go directly to the website. No available information for company ownership or A digital currency that isn’t regulated by a central
company goals, partners, or investors. authority, like a bank. Cryptocurrency, such as
 If you receive a request to update information, go Bitcoin or Ethereum, can be used to buy everyday
 Company’s Technology items, purchased on cryptocurrency exchanges, or
directly to your profile to update, do not click links traded on investment platforms.
Easily accessible web page and white paper that
you are not certain of. outlines specifics and details of the project.
Stablecoins
 DO NOT store your recovery seed digitally. Keep
it secure and in a non-electronic format. No white paper available, or few details on the Cryptocurrencies can experience significant
specifics behind the project. changes in value, so stablecoins are pegged to a
 Read the fine print and know how to exit  Purpose more stable currency on commodity, such as the
U.S. dollar or gold, in an attempt to offer price
any investment you pursue. Website explains the origins of the company and stability.
reasons the team started the project are values
 Always log out of your wallet and any sites you agree with. CBDCs
you may have your wallet connected to. Website does not include origins of the company
and reasons the project was started are not
Central Bank Digital Currencies, such as China’s
listed or you do not represent values you digital yuan, are issued and regulated by a
agree with. country’s central bank and pegged to the value of
Fraud Awareness that country’s fiat currency.
 Regulation
 If you are called and told a friend/family member The service provider is regulated by a trusted
Privacy Coins
needs money, HANG UP, and call the friend/family regulator such as a country Financial Privacy coins like Monero offer users more
Intelligence Unit or Financial Crimes
member directly to confirm. Enforcement Network. anonymity than other cryptocurrencies by hiding
the value of payments across their networks as
 Do not send or receive funds from someone The service provided is unregulated or in a well as their senders and recipients.
country that has legal or regulatory challenges.
you do not know or on behalf of someone else. Tokens
 Review Customer Support Options
 Beware of investment opportunities promising A unit of value on a blockchain that also has some
Website with published FAQs on how to use the
guaranteed returns or those sounding to good product, live customer support, and tips for safe other value propositions. For example, non-fungible
to be true. investing. tokens (NFTs) are used to represent ownership of
unique digital items like art or collectibles.
No FAQs and no or only automated customer
support options.