Like any new innovation that attracts significant sums of investment, cryptocurrency has seen its fair share of scams. These include phishing scams, Ponzi schemes, and other types of fraudulent activities designed to part people with their crypto assets.
Many of these scamming techniques existed long before the arrival of cryptocurrency, and are far from exclusive to the industry.
The generalization that all cryptocurrencies are scams is simply not accurate. Many cryptocurrency projects exist that perform innovative functions that benefit users in meaningful ways. Unfortunately,the fact that a small minority of criminals have used cryptocurrency to carry out their crimes has led others to dismiss the revolutionary technology as a scam.
Check out our article How to keep your crypto safe for more information.