Cryptocurrency has become a popular way to invest and make transactions, with more people jumping on board every day. However, as with any new technology, there are risks involved, especially when it comes to scammers looking to take advantage of unsuspecting users. Therefore, it is essential to take extra precautions when doing any crypto transactions to protect yourself from potential scams. In this article, we will provide some helpful tips to ensure that you can safely engage in cryptocurrency transactions without falling prey to scammers. By following these best practices, you can enjoy the benefits of cryptocurrency while keeping your funds and personal information secure. 

  1. Make sure that the payment method setup by you is correct, Scallop Exchange has no way of verifying FIAT accounts currently.

  2. Make sure when “Selling”: that you have received the FIAT transfer and confirm it with the Bank, before you transfer the Crypto asset.

  3. Verified KYC is mandatory to make P2P transactions.

  4. Making changes to the account’s security information (account password, email, Phone number, Google authenticator and/or Trade password)  will block transactions for 48 Hours.

  5. Before transferring the FIAT funds, Make sure you have the relevant details of your is available on the Real name info section.

  6. Make sure you use the information listed on the transaction page to do transfers, do not use unknown or unapproved information.

  7. Please do not share more information than necessary with anyone online. Protect your Digital Identity.

  8. If you notice anything suspicious or feel someone is not being truthful please reach out to support immediately.