20-question pre-flight checklist
Think through these 20 things before your first crypto purchase, and you'll already have dodged most of the traps beginners fall into. Tick off what you've already done and see how ready you really are.
① Account security
- I signed up on a regulated, high-volume exchange — not some small platform a stranger recommended
- I turned on two-factor authentication (2FA), using an authenticator app rather than SMS where possible
- I set a strong, unique password for the exchange that I don't reuse anywhere else
- I know what the official website / app looks like and can recognize an impostor
- If the platform supports it, I set up a withdrawal-address whitelist
② Money and mindset
- I only plan to use spare money I can afford to lose entirely without affecting my life
- I haven't borrowed money, maxed a credit card or used living expenses to buy crypto
- I can accept the coins I buy dropping by half or more in the short term
- I'm not fixated on "needing this to turn my life around / get my losses back"
- I've set myself a hard cap on "the most I'll ever put in"
③ Knowledge
- I know my seed phrase / private key must never be screenshotted, uploaded or told to anyone
- I understand I have to pick the right network (chain) when transferring, and I'll do a small test first
- I know leverage / futures amplify losses, and I don't plan to start with them
- I can tell the difference between "buying and holding spot" and "futures trading"
- I've read at least one full beginner guide on avoiding traps
④ Scam awareness
- I know that no "guaranteed high return" or "sure profit" is real
- I won't trust a stranger who messages me first and offers to make me money
- I won't rush to send money because of "limited spots" or "closing soon"
- I know real support won't DM me first or ask for my verification code
- I know that anyone asking me to "pay first" before withdrawing is definitely a scammer
This checklist is for self-assessment only and is not investment advice. Your ticks are stored only in your current browser and clear on refresh.
Why these 20 things are worth thinking through first (expand)
This checklist isn't meant to scare you — it lays out, in advance, the losses beginners most often take because they "didn't think of it." It comes down to four sentences:
Account security: lock the door first
Opening your account on a regulated exchange, turning on 2FA, using a strong password and being able to spot a fake app — these take less than ten minutes and block most account takeovers and fake-site traps.
Money and mindset: only use money you can afford to lose
What really breaks people in crypto usually isn't a single loss — it's using money they shouldn't have and carrying pressure they shouldn't carry. Use spare cash, set a cap, accept the swings, and you'll hold steady and make sound decisions.
Knowledge: don't make mistakes where they can't be undone
Choosing the wrong network, leaking a seed phrase, accidentally opening high leverage — most of these can't be reversed once done. Understanding before acting is the best-value investment a beginner can make.
Scam awareness: recognize the playbook and you won't get caught
Almost every scam shares the same traits: a promise of guaranteed returns, reaching out to you first, manufacturing urgency, and pulling you off official channels or asking you to pay first. Remember these and you'll spot the vast majority of scams. When you're unsure, run it through our scam self-check.