Bitcoin is an amazing tool both for executing new types of commerce that were, various reasons, impossible before or completing the existing types of transactions in a superior fashion. Bitcoin affords flexibility, security, and anonymity and is powerful in the hands of users with the proper understanding of how it works and how to use it.

Criminal activity has become a pandemic in the Bitcoin world. Ever since Bitcoin's explosive price rise criminals have been targeting Bitcoin users. Dozens of new Bitcoin related scams are reported each day, and often the criminals are never caught since it's possible to stay anonymous on the internet with the right expertise. There are a multitude of different Bitcoin scams, and it is important to understand them to keep your money safe. This article will discuss how to identify and avoid Bitcoin scams.