The current landscape of the cryptocurrency industry offers a diverse array of new services (fin-åhnce 2.0) for the consumer. Bitcoin is a project still very much in its infancy, and so there is a great deal of risk when dealing with these new products and people.

Bitcoinica, Mt. Gox, Coinabul, Intersango, Linode, Bitcoin Savings & Loans Trust are all businesses that have or are currently being accused of losing customer funds. Sometimes to the tune of $500 million, which is like half of urban Detroit’s worth (sorry, urban Detroit). As anybody who has perused Bitcoin forums will read, scams and poor customer service are an industry standard, it seems.

Assuming that bitcoin has grown beyond this period of incompetence is dangerous. The next Mt. Gox could be buying-and-selling your bitcoins today. Many people have gotten into the Bitcoin industry because it has become a fad. These people might not have skillset or interest level to thrive in the fast-paced, competitive and foreign environment of cryptocurrency.

One new company which has caught the eye of numerous bitcoiners is Cryptoagency.org, which seeks to use a reputation system – like the Better Business Bureau – to reflect a company’s quality.

Cryptoagency.org plans to charge companies dealing in bitcoins and other cryptocurrency for accreditation, which will be three tiers – bronze, silver and gold. Prices range from $400 per year to $1,600 per year in bitcoin.

Because such a company was featured in CoinDesk, considered by many to be the best online bitcoin related publication, one might believe the company to be legit. But, unfortunately being featured in a reputable publication – no matter if it is CoinDesk or the Wall Street Journal – is not enough for a business to be considered trustworthy. Financials are championed all of the time by mainstream media, for instance, despite rampant fraud and abuses.

Ultimately, the question is very simple. Is Cryptoagency.org fit to be the Better Business Bureau of Bitcoin? One need only engage the team on Twitter to learn of their Bitcoin knowledge level.

@CryptoAgency Really…1.4 BTC for BRONZE accredited Status. https://t.co/8nu73Q4H5z I claim this to be a Fraud, BBB reporting. Outrageous.

— BTCMintUS (@BtcmintUS) August 19, 2014

“MSB” in this contect refers to Money Service Business. Anyone interested in a legitimate Bitcoin business would know what this meant. It turns out Cryptoagency has not done their due dilligence on the criteria for a formidable bitcoin business.

Ultimately, doing your research on all companies is important. Anytime you can speak to somebody in person, consider that a plus. There are LOTS of companies out there doing a great job, but there is also a lot of noise. The world is moving beyond marketing. Content is the new marketing. Beware the PR!