How to buy crypto safely: a beginner's checklist

Last updated November 12, 2026

Your first purchase is when you’re most likely to be targeted. Scammers know beginners are eager and unsure what’s normal. Follow these steps in order.

1. Pick a legitimate exchange

• Choose a well-known exchange that’s licensed or registered where you live.
• Get there by typing its address yourself or from its official app store listing. Don’t click ads. Fake exchanges buy search ads.
• Be wary of any platform that a stranger, a new online friend, or a “mentor” introduced you to. That’s how pig-butchering scams start.

2. Secure your account before you deposit

• Use a unique, strong password stored in a password manager.
• Turn on two-factor authentication with an authenticator app or passkey. SMS codes can be stolen through SIM swapping. See our two-factor guide.
• Turn on a withdrawal allowlist if the exchange offers one, so funds can only go to addresses you’ve approved.
• Use a separate email address for crypto accounts, if you can.

3. Start small

• Buy a small amount first and get comfortable with how buying, sending and fees work.
• Only invest what you could afford to lose. Crypto prices can fall sharply.

4. Know the beginner scams

• “Support” that contacts you first. Real exchanges don’t DM you on social media or ask for your password or seed phrase.
• Guaranteed returns. Nobody can guarantee crypto profits. Promises of fixed daily or weekly returns are a scam.
• Pressure to move fast. Urgency is the scammer’s main tool.
• Requests to pay in crypto. Government agencies, utilities and real businesses don’t demand payment in crypto or gift cards.

5. Decide where to keep it

Leaving a small amount on the exchange is fine while you learn. For anything you plan to hold, read exchange vs. self-custody and consider a hardware wallet.

6. Keep records

Save your purchase history. In many countries, selling or trading crypto creates a tax obligation, and exchanges don’t always keep records forever.