Many investors are hesitant about diving into the world of cryptocurrency due to scams and fraud. However, experts suggest ways to start investing safely and avoid falling victim to fraudulent schemes.

Charles Wayn, co-founder of Galxe, advises investors to look for crypto projects with a large, active community. Similar to traditional investments, reputation, credibility, and track record are crucial factors to consider in the crypto space.

Experts warn against overlooking red flags in cryptocurrency investments, such as anonymous founders and unrealistic returns. It’s important to conduct thorough research and be cautious of opportunities that seem too good to be true.

To protect your crypto assets, experts recommend using hardware wallets for secure storage and enabling two-factor authentication on exchange accounts. It’s crucial to remain vigilant against phishing attempts and unsolicited communications.

New crypto investors can leverage trusted resources like blockchain explorers and security audit reports to make informed decisions. Connecting with other investors on platforms like Reddit or Discord can provide valuable insights and help navigate the market.

Approaching crypto investments with a structured, risk-averse methodology is advised to minimize exposure to financial risk and build technical literacy. Start with minimal investments in established cryptocurrencies and prioritize education over capital deployment.

Read more at Yahoo Finance: 4 Ways To Scam-Proof Yourself When Getting Into Crypto Investing