How to protect yourself from scams – and how CoinJar can help.
It’s Scams Awareness Week and CoinJar is an official partner. While scams are a dangerous and growing part of the crypto landscape, there are a few simple ways that you can start protecting yourself. (And a few things that CoinJar does to help out too).
4 simple ways to stay safe
- Create strong passwords: you’ve probably seen this one again and again, but it bears repeating. The strongest foundation for your own security is to use long, diverse and complex passwords. We recommend using a password generator/manager like 1Password, or else Chrome and Safari both have in-built password managers that make the process a whole lot easier.
- Use two-factor authentication: it’s increasingly common for apps to offer two-factor authentication (2FA) as an extra-layer of security on top of your password. Our advice: take that offer. CoinJar provides automatic SMS or TOTP (think Google Authenticator) 2FA on account logins, while our app offers biometric security such as FaceID/TouchID when you open the app or try to send large amounts of crypto.
- Keep your software up-to-date: older software is easier for hackers to break into. Setup auto-updates on your computer and phone and always keep your browser updated to the latest version.
- Be suspicious: always remember that you don’t know who’s actually on the other side of the screen. Don’t send crypto or account details to someone you don’t know and if it sounds too good to be true, it definitely is.
How CoinJar looks after your coins
CoinJar has a full-time team dedicated to protecting your funds. Here are some of the ways we’re trying to beat the scammers.
- Active transaction monitoring: CoinJar uses continuously updated lists of suspicious and malicious wallets to prevent funds being sent to known scammers. If a customer tries to send crypto to an address on the list, we’ll pause it while we work out where it’s actually going and why.
- Anti-phishing: any time you login to CoinJar from a new browser we’ll send an email to you asking you to confirm. It’s an extra layer of security in case scammers get hold of your password. (Also a reminder to always make sure you’re logging into coinjar.com – and not a scam website that looks like it).
- Ask CoinJar: If in doubt, get in touch with Support. We’re constantly monitoring suspicious wallets and websites and can help you work out whether something is a scam or not.
Check out our dedicated article on protecting yourself from crypto scams for more info.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high‑risk investment and you should not expect to be protected if something goes wrong. Take 2 minutes to learn more: www.coinjar.com/uk/risk-summary.
Cryptoassets traded on CoinJar UK Limited are largely unregulated in the UK, and you are unable to access the Financial Service Compensation Scheme or the Financial Ombudsman Service. We use third party banking, safekeeping and payment providers, and the failure of any of these providers could also lead to a loss of your assets. We recommend you obtain financial advice before making a decision to use your credit card to purchase cryptoassets or to invest in cryptoassets. Capital Gains Tax may be payable on profits.
CoinJar’s digital currency exchange services are operated in Australia by CoinJar Australia Pty Ltd ACN 648 570 807, a registered digital currency exchange provider with AUSTRAC; and in the United Kingdom by CoinJar UK Limited (company number 8905988), registered by the Financial Conduct Authority as a Cryptoasset Exchange Provider and Custodian Wallet Provider in the United Kingdom under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, as amended (Firm Reference No. 928767).