Ethics of Crypto

xuanling11
Coinmonks
Published in
5 min readAug 2, 2022

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Photo by Clark Tibbs on Unsplash

Is there an Ethics of Crypto in general? Probably not.

As digital currencies have widespread adoption, the financial and social benefits have grown steadily. Now, users of virtual currencies — like people who store their cash online — are also using them to buy and sell goods and services. In other words, the future of finance may be cryptocurrency trading. With that in mind, it’s important to understand the ethics of cryptocurrency.

People are too distracted by the utility of cryptocurrency and forget about ethical behaviors. So why should we care anyway?

Cryptocurrencies are inherently untrustworthy and should be avoided at all costs

Many people today are unaware that cryptocurrencies can be used as a store of value. This means that people who hold cryptocurrencies can’t be held legally responsible for money being stolen or paid with stolen money. This can lead to banks and other financial institutions charging higher interest rates on loans or even closing the accounts of suspicious individuals. Even if a person holds a…

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