This article was first published on: CoinSutra – Bitcoin Community --

Cryptocurrency Scams

I’ve had enough of people calling cryptocurrencies scams. I understand that the crypto space has witnessed many scams but that doesn’t mean the whole industry should be labeled a scam.

This shows the negligence on part of such people who refuse to spend some time learning about the latest revolution. And that is because such people have pre-conceived notions strongly etched in their minds.

Like I stated earlier, there are scams, undeniably, but isn’t it true for every other industry in the world?

Moreover, I acknowledge that fact and that’s why I am here to tell you about some of the most common forms in which crypto scams take place.

Cryptocurrency scams that everyone should be aware of

1. Fraudulent ICOs

The most common way to pull off a scam is to fabricate a fake ICO, create a marketing hype and persuade people to buy.

That is because ICOs are a great and an innovative way to kickstart a company and that is the aspect that is misused. (Read: ...

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