[2015-01-05] How to Avoid Bitcoin Scams in 2015

[zakoliverz]

http://www.coindesk.com/avoid-bitcoin-scams-2015/

Fraudulent exchanges and cloud mining services, phishing schemes, pump-and-dump and IPO scams, and more, are ongoing security risks that cryptocurrency users face everyday. This week alone, three cloud mining services appear to have gone bankrupt.

So how can you avoid scams in the bitcoin space? While there is no sure-fire way to protect your holdings against technical attacks like these, here are some cautionary measures that will be helpful, offered by security experts in the industry.

[crazyearner]

Simple answer to avoid scam exchanges is to research them first and do some background checks and see if its been announced anywhere like on here and also on other places and that people are actually using it and not just for ICO coins or very new coins. Most exchanges that I currently see popping up are nothing but scams wrote all over them and some have gone as far as before depositing any crypto coins you need to validate your account with some sort of ID and government issued documents. I thought the whole point to crypto was to remain private unless you are looking to sell it and send back to your bank.