How to avoid Scams. Must read for beginners!

List of most used scams and ways to avoid them.

1. Fake wallets – Only download Cardano wallets from trusted sources:

Daedalus Desktop wallet :

yoroi mobile wallet :

There are currently no Android or iOS versions of Daedalus wallet.

2. Telegram – When joining some crypto groups you will get private messages instantly from scammers trying to get your crypto. They will pose as admins or support members from the group. Don’t even waste your time with them as admins in Cardano especially will never message you first. Scammers create accounts that look like admins.

Edit your Telegram settings:

Go to : 
''privacy and security''
then  : 
''Groups & channels''
and change :
''Groupe invite settings'' to ''My contacts''.

See for more details and pictures.

3. Giveaway scams – Nobody will ever double your crypto by you sending them an amount to get double back. There are no Giveaways or Airdrops Videos on YouTube showing Charles Hoskinson and any other high profile people in crypto giving away free crypto are all fake!

IOHK team : “We will never ask you for money, your password, your passphrase or your secret folders. Official partnerships/affiliations will always be announced through official channels. Use caution and do your own research before transferring funds. When dealing with Cardano ADA or any other cryptocurrency, it is especially important to be extra cautious.”

4. Password/Passphrase – Do not share your password, passphrase, or secrets folders with anyone. Report people who ask you to do this to

5. YouTube Comments – All whatsapp numbers or twitter links to investors channels (fund managers) from copies of a youtuber's account are from scammers. Name looks the same, but real comments from the channel owners name have a dark background.


  • Do not disclose your balance or portfolio details online. This can make you a target for hackers.

  • Always be sure to keep your Daedalus wallet recovery phrase safe and confidential.

  • Do not rush into anything, doing a little online research which can reveal a scam or something which has been flagged as negative by the community.

  • Always double check website URLs.

  • Use 2FA on all sites that you can.

  • Don’t store crypto on exchanges

  • Use hardware wallets wherever possible

  • Please do report any scams directly with the relevant party as well as to

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