What’s one of the best ways to spot a scam? Know how scammers tell you to pay. Scammers want you to pay them in ways that are hard to trace and hard to get your money back. One way is by cryptocurrency. Here’s how to avoid cryptocurrency-related scams.

Cryptocurrency is digital currency you get through an app on your phone, a website, or at a cryptocurrency ATM. Bitcoin and Ether are some of the most well-known, but there are lots of others. Scammers like to use cryptocurrencies because they don’t have the same legal protections as credit or debit cards, and payments usually can’t be reversed.

To avoid these and other scams, know that:

• Only scammers demand payment in cryptocurrency. No legitimate business or government agency is going to demand you pay with cryptocurrency — not to buy something, pay taxes or fines, and not to “protect” your money. That’s always a scam.
• Never pay a fee to get a job. If someone asks you to pay upfront for a job — with cryptocurrency or any other type of payment — or says to buy cryptocurrency to get a job, it’s a scam.
• Never mix cryptocurrency and online dating. If you meet someone through online dating who asks you to send them cryptocurrency or wants to “help” you invest in crypto, that’s a scam.
• Do research on the company before you invest or send money to avoid falling victim to a phony company or website. When companies or websites (fake or not) have look- or sound-alike names, the potential confusion created for consumers is real. Attempting to take advantage of such confusion is a tactic employed by some bad actors looking to profit from unsuspecting consumers.

The Department of Financial Protection and Innovation (DFPI) announced that it has launched the DFPI Crypto Scam Tracker to help Californians spot and avoid crypto scams. The tracker details apparent crypto scams identified through a review of complaints submitted by the public and allows California consumers and investors to do their own research and prevent harm to themselves and others.

The Crypto Scam Tracker is a database that is searchable by company name, scam type, or keywords to learn more about the crypto specific complaints the DFPI has received. An accompanying glossary aims to help consumers better understand common scams. As reports of new crypto scams emerge, the DFPI will continually update this tracker to promptly alert and protect the public.

If you have been a victim of a scam or fraud, or you learn about a scam that is currently not listed on the Scam Tracker, please notify the DFPI immediately by filing a complaint with the DFPI online (dfpi.ca.gov/file-a-complaint) or calling toll-free at (866) 275-2677.