How to Avoid a Scam?

Protect yourself from cryptocurrency scams by spotting these red flags and taking the following precautions.

Updated over a week ago

If you're new to cryptocurrency, it's important to remember that some risks are always involved. Like any other financial product, scammers may lurk around the corner, looking for their next victim.

Here are some of the most common red flags and warning signs of a potential scam:

  • Promises that you'll make lots of money; it's typical to see scammers use celebrities to help endorse their efforts, making them appear more legitimate, which is easy enough to fake.

For example, a common tactic for scammers is to use social media (Instagram, Twitter, or YouTube) for hunting unsuspecting victims. In these cases, it's usually a lone wolf or a small group hacking into different accounts and posting fraudulent content.

These social media posts will instruct users to click a fraudulent link instructing them to send money to receive crypto endorsed by celebrities. In reality, there is no crypto; the scammers hope some unsuspecting user will blindly hand over their hard-earned cash, never to see it again.

  • Either an individual or specific group offering some assistance with your investment is a clear warning sign of a possible scam.

  • Quick, guaranteed returns on your investment are a giant red flag.

  • Any offers of free money in fiat currency or crypto; you can bet it's probably a scam.

  • Lavish promises that sound too good to be true; be careful of such claims.

When it comes to scammers, the truth is they're usually ruthless and very clever; so, when sharing your details, always be very careful. As the old saying goes, if it's too good to be true, it's probably a scam!

Below are some tips to help protect yourself against possibly being scammed as you begin your journey into the crypto world.

  • Keep your "private keys" in a secure place and never share them, as someone with your private keys will be able to gain access to your crypto wallet.

  • Don't invest or trade crypto based on the advice of someone you've only ever engaged with online or on the phone.

  • If you're looking to start investing in crypto, take some time to study and research exactly how the cryptocurrency you're looking to invest in works before handing over any money.

  • Never invest more than what you can afford to lose.

Before investing any money into crypto, doing your research is highly recommended; investing some time early on can pay off later.

Remember, we aren't authorized to give any financial or investment advice. Please get in touch with our support team for assistance if you believe you might've been a victim of a possible scam.

Lastly, it's important to note that Ramp doesn't use any vendors or dealers; if someone reaches out saying otherwise, there's a good chance it's a scam.

How to Prevent Fraud

Update Valid Domains

Although crypto has a strong reputation for being secure if you know what you're doing, it's always better to be safe than sorry. In reality, scammers and hackers are constantly working on new and innovative ways to separate you from your hard-earned money; it's critical to be on the lookout for any potential scams.

At Ramp, we've compiled a list of general guidelines to help you protect yourself from fraud, scams, and avoidable loss.

1. Protect Your Private Keys

Regarding the security of your private keys, it's critical always to keep this information safe and never share it with anyone. With access to your private keys, someone can access your crypto wallet to steal your funds.

2. Check All Links Before Clicking

If you receive an email that doesn't use "" but states it's from Ramp, it's likely a phishing attempt. If you mistakenly click the link, don't ever share personal details, card information, or passwords; the hackers will steal your data to make fraudulent transactions under your name.

3. Double-check that any Emails You Receive are Legitimate

It's important to note to check the sender's address; emails from Ramp will always end in "" If you find an email uses a different ending, there's a good chance it's a scam.

Remember, we will never ask you for your private key, password, or any vulnerable information. Also, we'll never attempt to contact you advertising easy ways to make lots of money. Remember never to click any links in these emails or open any attachments.

If you've recently received an email and have doubts, please get in touch with our support team for assistance.

4. Watch Out for Fraudulent Offers

Scammers promise their victims tales of "great gains" and lavish guaranteed returns. The only condition is that you'll need to buy some crypto and send it to a wallet address they provide; be careful of such tactics.

5. Be on the Lookout for Fake Technical Support

Every month, billions of scam emails and phone calls target some of the most vulnerable people, such as the elderly. Scammers tend to target those who are less familiar with newer technologies.

It's common to see scammers reach out under the disguise of being technical support for major technology companies. The primary objective is to trick you into signing up for a fraudulent subscription or non-existent services. In these cases, it's best to hang up and block that number or email address.

6. Technical Support Will Only Call, If You Called Them First

Nowadays, it's almost unheard of to get legitimate calls from a support department unless you call them first. If you're having technical difficulties with your phone, computer, or bank, it's best to contact that company directly via email or phone found on their official website.

7. Only Use Trustworthy Links

It always pays to be careful when reaching out, as scammers like to put fake ads on browser pages in hopes you'll click on them. Double-check that the link you're using doesn't have "Ad" in the beginning; typically, the webpage will appear "scammy" looking and untrustworthy.

8. Always Use Two-Factor Authentication

With the help of two-factor authentication, even if your details get compromised, you'll still have access to your accounts and the power to prevent unauthorized access.

9. Never Reuse Old Passwords

If your details somehow get leaked from any site, it's typical that the hackers responsible will try to sell that data to another buyer somewhere else; potentially resulting in your funds getting stolen. If you suspect your details might be compromised, you should immediately update your password.

10. Double-check That Your Wallet Address Is Correct

Before completing your transaction, double-check that your wallet address is correct. In cases where the address is incorrectly entered, the funds can end up in another wallet with no way to recover them. Remember, never send any funds to a wallet address you're unsure about or don't trust.

11. Never Let Someone Else Open a Wallet for You

When opening a wallet, ensure you'll be the only one with access; it's always better to be safe than sorry in the long run.

12. Keep Your Anti-Virus Software Up-to-date

The truth is that even if you do everything right, you can still fall victim, especially if your computer's anti-virus software isn't up-to-date. By keeping your anti-virus updated, you'll have peace of mind knowing your money is secure.

13. Do Your Research on Companies

Before handing over personal details or completing transactions, research the company you're dealing with; make sure they're legitimate and trustworthy.

14. If Something Looks Too Good to Be True, It Probably Is.

Pay attention to any suspicious "too good to be true" investment offers from anyone, even your broker. It's important to note that Ramp will never contact you to offer you investment opportunities.

15. Always Remember

Generally, it always pays to be observant, highly cautious, and double-check everything; this will help ensure you don't fall victim to scammers making outlandish promises.

Lastly, virtual debit cards are a terrific payment alternative with additional layers of security and one-time use; you can have peace of mind knowing your payment is secure.

Did this answer your question?