How do you know if a cryptocurrency exchange is a scam?

In the vast and often unregulated landscape of cryptocurrencies, how does one discern whether a cryptocurrency exchange is legitimate or a potential scam? The first step in evaluating a platform's authenticity is to research its background and reputation. Scrutinize user reviews, both positive and negative, to identify any recurring patterns or concerns. Check for regulatory compliance and whether the exchange is registered with relevant authorities. Look for security measures like SSL certificates and cold storage for funds. Ensure the exchange offers transparent pricing and fees. Be wary of any exchange promising unrealistic returns or guaranteeing profits. Finally, never deposit funds into an exchange unless you're fully satisfied with its credentials and security measures.