To avoid cryptocurrency scams, it is crucial to be informed. In 2021 alone, over 46,000 individuals reported losses totaling $1 billion due to crypto scams. To protect your finances, consider these steps:

1. **Conduct thorough research* Investigate the coin's origins, creators, technology, distinctions, production, and value proposition. This helps avoid currencies designed for the founders' enrichment.
2. **Exercise caution with advice* Avoid advice from unverified sources, including celebrities and social media personalities, and seek advice from those with established financial credentials.
3. **Secure your crypto wallet* Ensure your digital wallet is from a reputable company.
4. **Utilize multi-factor authentication* This adds an extra layer of security, preventing unauthorized access even if login credentials are compromised.
5. **Verify website URLs* Confirm website legitimacy and security (https) to avoid spoofed sites.
6. **Explore traditional investments* Consider ETFs or stocks in crypto-related companies for exposure with reduced scam risk.
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