1. Conduct adequate research: Before investing, make sure you understand the project’s background, team, technology, and market needs, and try to choose projects with a good reputation and transparency. Check white papers and related materials.

2. Use a reliable platform: Choose reputable exchanges and wallet services. Check user reviews and security records to ensure the security of the platform, which usually has stricter security measures (e.g. Binance).

3. Be wary of high-yield promises: If a project or platform promises to guarantee high returns, it is usually a sign of fraud. Also, if a project requires you to recruit people or make continuous investments to get returns, it is also likely to be a scam. Understand the basic rules of investment. High returns are often accompanied by high risks. Any investment that claims to be risk-free or guaranteed should be viewed with caution.

4. Protect personal information: Do not share personal information or private keys at will. Use strong passwords to set complex and unique passwords for all accounts, and regularly back up your wallet information and private keys and keep them in a safe place to prevent loss or theft (do not store them on a computer or mobile phone, do not take screenshots, the best way is to write them down in a notebook). Scammers may obtain your information through phishing.

5. Two-factor authentication: Enable two-factor authentication (2FA) to protect your account security, and use a mobile app (such as Binance or Google Authenticator) to add an extra layer of security. Check your account activity regularly to detect any unusual logins or transactions.

6. Be careful with social media and ads: Make sure to follow official accounts on social media and verify their authenticity. Avoid interacting with any accounts that claim to be "official" but are not verified. Investment opportunities seen on social media may be scams. Be careful with giveaways and airdrops: Many scammers lure users with fake giveaways and airdrops. Make sure to verify their authenticity. Be wary of information from unknown sources. Scammers may create look-alike pages and avatars impersonating well-known projects. Double-check the URL and website design. Avoid clicking on unknown links. Links seen on social media may be malicious. Try to visit the official website directly.

7. Pay attention to community feedback: Participate in relevant communities (such as Reddit, Telegram, Discord) to understand the views and experiences of other investors and obtain warning information in a timely manner. Check the project's social media and official website regularly to learn about the latest developments and official announcements.

8. Stay updated: Follow the news and track industry news and potential scams through professional cryptocurrency news websites. Keep an eye on market dynamics and emerging scams, and learn about new cryptocurrency technologies and market trends to identify potential risks in a timely manner.

Tips for beginners:

After you buy U, the other party will chat with you and try to get close to you, asking you to take orders for transactions or saying that Binance’s fees are expensive, while other exchanges have cheaper fees and offer rebates, but if you want to go to other exchanges, just block them directly.

If the other party asks you to go and collect money together, and if it involves wallet interaction, you must carefully identify and confirm the background of the project party.

Do not click on links sent to you by others, as they may be phishing websites.

If someone adds you as a friend for no apparent reason and asks whether you are doing contracts or spot trading, just ignore them and block them.

Now there are scammers who are calling you to participate in staking mining in the name of Binance. Treat them all as scammers. (Pay attention to the official platform announcement)

For new coin friends, if you want to play, you should buy some mainstream spot. If you really want to play with contracts, try a small amount. Master the technology first. If you want to get rich overnight, you must be prepared to go back to zero. Don't look at all the people in the square showing how much they have earned. Those are "eternal earning teachers" with a 100% success rate. Only a few people in this circle really make money by doing contracts (no more than 15%), and 85% lose money. If you buy spot at the price of BTC (within 54,000 US dollars), BNB (within 500 US dollars), SOL (within 120 US dollars), ETH (within 2,200 US dollars), as long as you have enough patience, more than 95% of them will make money.

Trading: It is best to trade by yourself. Every transaction is your precious wealth. Through practice, you can reflect on the success and failure of the transaction, take notes, summarize the experience and improve yourself. Only when you improve your cognition and skills can you go further on this road. Don't be emotional about Fomo and have your own subjective judgment. I hope that all the new friends will have a satisfactory harvest. Come on and work hard! Encourage each other!

I am just a newbie, and I hope to share what I know with newbies, so that they can reduce their losses. (If there is anything that is not well written or wrong, please communicate, point out, and forgive me! Or leave me a message in the comment area! Thank you everyone).

Summarize:

The cryptocurrency market is full of opportunities but also comes with risks. It is very important to be vigilant and cautious in the cryptocurrency market. You can effectively reduce the risk of being scammed by educating yourself on reliable tools and platforms, as well as communicating with other investors. Always remember that doing a thorough due diligence before investing is the most effective way to protect yourself. By taking these steps, you can greatly reduce the risk of being scammed in the cryptocurrency market, reduce losses, increase your win rate, and make smart decisions.