10 checks before trusting a crypto platform

A polished app can make a financial service feel trustworthy long before you understand what it does with your money. Before opening a crypto account, slow down and work through these checks. This is a due-diligence checklist, not a ranking of exchanges or a recommendation to buy crypto.

1. Identify the company. Find its legal name, jurisdiction and actual contact details. A brand name and a social-media account are not enough to establish who operates a service.
2. Check claims independently. If it advertises a licence or registration, check the relevant authority's own register. Registration should not be treated as a guarantee against losses.
3. Understand custody. Ask who controls the keys and what happens if the company stops operating. Keeping assets on a platform and controlling a personal wallet create different responsibilities.
4. Read withdrawal conditions. Review supported networks, minimum amounts, fees and possible restrictions before depositing. Do not assume a balance displayed in an app is money you can withdraw.
5. Question guaranteed returns. High returns with little or no risk are a classic fraud warning. Screenshots of other people's profits do not establish that an investment is genuine.
6. Separate promotion from evidence. An influencer's recommendation is not an independent security assessment. Look for disclosed sponsorships and confirm important claims outside the promotional page.
7. Protect account access. Use a unique password and the strongest available multifactor authentication. Never share wallet recovery words with someone claiming to provide support.
8. Understand what you are buying. A coin, a lending product and a leveraged derivative are different exposures. If you cannot explain the product in plain language, keep researching.
9. Check the full cost. Compare trading charges, spreads, conversion fees and withdrawal costs. A small advertised trading fee can be only one part of the bill.
10. Consider a failure scenario. Ask what a total loss would mean for your finances. Money needed for essential expenses should not depend on a speculative asset holding its value.

For example, a platform might advertise instant access while its withdrawal page lists restrictions. That mismatch is a reason to investigate, not a reason to rush before an offer expires. Keep a dated record of the terms you relied on, and remember that no checklist removes market, custody or fraud risk.