Before you begin:
  • Make sure you familiarize yourself with your local laws and that you are in compliance with any relevant laws and that you have the necessary business licenses for the jurisdiction you’re trading in. Legislation varies a lot in different countries and whether you’re trading as an individual or as a business.
  • Research the payment method you're going to offer. Read through other traders’ ads of the same payment method and make some trades with them. Try to identify possible problems before you start trading. We recommend you to start trading using a low risk payment method.
  • Create a payment accounts only for Ethers trading. Some payment providers will temporarily or permanently close your account if you receive unauthorized payments that are related to fraud. Using accounts only for Ethers trading protects your personal finances.
  • Do not use the same password on other websites.
  • Do not use the website from a shared computers or devices, like ones in public internet cafes, as they may have keyloggers installed to steal your user credentials.
  • Logging in your account, read the browser address bar and check that you are logging in - not a phishing domain. Make sure the spelling is exactly, as the phishers, especially e-mail phishers, often register domain names resembling domain name (e.g.: Bookmark in your browser and always use the bookmark when visiting the website.
  • If possible, access your wallets from a dedicated computer you have reserved for financial purpose only. We recommend you not to use this computer for other issues.
  • Do not install third party software, pirated software or browser add-ons you cannot trust 100%. This greatly reduces the risk of getting Ethers stolen.
  • Don't use the same password on more than one site, instead use unique and randomly generated passwords. Using the same password on more than one site is very dangerous, it can let hackers to get access to many of your accounts by knowing only one password.
  • Don't visit websites other than with the browser that you're using to trade. Use a different browser for other websites.
Security setup:
  • Do not disable Login Guard from the security settings of your account to prevent logins to your account without a e-mail confirmation.
  • Enable Two-Factor authentication on your Cryptolocator account, this adds a second layer of security in case your password falls into the wrong hands. Make sure you do not store the backup code electronically, write them down and store the code safely.
  • Review your login history & authorized browsers. From the account security settings you can view your account Login history and authorized browsers. It's a good habit to check these from time to time.
  • Create an e-mail address for your Cryptolocator account that is not used for anything else. Don't give this address out to your customers, use a separate e-mail account. Gmail accounts are suitable as you can protect them with two-factor authentication.
  • Be wary of any images, links and other files that customers or unknown people send you, it can be an attempt to infect your computer with malware or worse. Run periodic malware and anti-virus checks on your computer.
  • Communicate with your trading partners using Cryptolocator chats only.
  • Don't open any links that your trading partner sent you. If there is a serious need, use another browser (not one you use for Cryptolocator).
  • Verify the buyer. If you are selling Ethers for a reversible payment method, ask the buyer to verify ID. When you receive a new trade, view the buyer's Cryptolocator profile to check the rating. Go through the previous feedback and get the info about what kind of trader he/she is. Check if the real name of the account matches the name attached to the payment. Check that the users IP address belongs to the country the payment is received from.
  • If you're selling using a payment method such as transfer with specific bank where the buyer's name is visible, limiting your advertisement only to users who have verified ID with Cryptolocator is a good idea.
  • Get some trading experience, with a brand new account it will be hard to find users to reply to your advertisements. Start out by contacting other traders’ ads to buy and sell, this will help you to get your first feedbacks and trade completions. The more trades and feedback you have, the more trustworthy you are.
  • Do not get involved into transactions outside Cryptolocator.
Characteristics of fraudulent activity

Fraudsters take advantage of the fact that Ethers transactions are irreversible or they try to trick you into releasing Ethers without sending payment. That's why it is important never to release Ethers from escrow until you have payment. Even if it's a regular buyer and someone you know, as once the Ethers have been released from escrow, there is no way for you to get them back. 

With reversible payments, scammers will attempt to pay using stolen credentials. Requiring the buyer to have an ID verified account, checking that the user’s real name matches the name on the payment proof helps you to stop these attempts. 

In case you encounter with a suspicious user, you can always open a dispute for the trade, and our support team will help you to ensure that the trade is safe.

  • Fraudulent buyers are often in a hurry. The more your partner asks you to hurry, the more suspicious you should be, normally traders wait.
  • Fraudulent buyers often suggest doing all or part of the transaction outside escrow and then do not complete their part of the transaction.
  • Be careful about  fake payment evidences, don't release Ethers until you actually receive the payment. You are not obliged to release escrow until you can make sure that you have received the payment.