Setting Up Your Wallet & Staying Safe
A quick guide to getting a wallet ready for BEP20, and how to protect yourself from common crypto scams.
MetaMask is one of the most widely used wallets and works well for receiving virtual currency on the BEP20 (BNB Smart Chain) network.
Install MetaMask
Download the official MetaMask browser extension or mobile app from metamask.io only. Never download it from a link someone sends you directly.
Create a new wallet
Follow the prompts to create a new wallet and set a strong password for the app itself.
Write down your Secret Recovery Phrase — on paper
MetaMask will show you a 12-word Secret Recovery Phrase. Write it down by hand and store it somewhere safe and offline. This phrase is the only way to recover your wallet if you lose access — and anyone who has it can take everything in your wallet.
Switch to the BNB Smart Chain network
In MetaMask, click the network dropdown at the top and select BNB Smart Chain (this is the BEP20 network). If it's not listed, MetaMask can add it automatically from its built-in network list — you shouldn't need to manually enter network details from anywhere else.
Copy your wallet address
Click your account name at the top of MetaMask to copy your wallet address (it starts with "0x..."). This is what you'll paste into DefiExchange when placing an order — always on the BEP20/BNB Smart Chain network to match.
⚠️ Never share your Secret Recovery Phrase or private key
Not with "support," not with DefiExchange, not with anyone — ever, under any circumstance. We will never ask for it. Anyone who asks for it is trying to steal your funds.
Virtual currency transactions are irreversible — once sent, they generally cannot be recovered. Scammers rely on urgency and trust to get people to send funds to addresses they control. Here are the patterns to watch for:
Someone you've never met asks you to send crypto
Whether it's a new online "friend," a romantic interest, a stranger on social media, or someone claiming to be an investment expert — never send virtual currency to a person you haven't personally verified, especially if you've only interacted with them online.
"Guaranteed returns" or "double your crypto" offers
No legitimate investment guarantees returns, and nobody can legitimately double your funds by sending them crypto. If it sounds too good to be true, it is.
Unsolicited "support" contacting you first
DefiExchange will never message or call you first asking you to send funds, share your password, or share your recovery phrase to "verify" or "unlock" your account. If you didn't contact support first, be suspicious.
Fake websites that look like DefiExchange
Always check that you're on the correct URL before logging in or entering wallet details. Bookmark the real site rather than clicking links from emails or messages.
Pressure to act immediately
Scammers create urgency — "act now or lose your funds," "your account will be locked," "limited time offer." Legitimate requests don't require you to skip double-checking.
Government agencies demanding payment in crypto
The CRA and other government agencies do not accept payment in virtual currency and will not threaten arrest over the phone or by email demanding crypto payment.
✅ Before you send anything, ask yourself:
- Do I personally know and trust this person or platform?
- Am I being pressured to act quickly?
- Am I being asked for my seed phrase, private key, or a "verification payment"?
- Have I double-checked the wallet address and network?
If anything feels off, stop and verify independently before sending — it can't be undone once it's sent.