The world has truly gone through an economic and social revolution of sorts ever since cryptocurrencies, like Bitcoin, first came out into the world. While at the beginning of their run, cryptos and especially investing in cryptos was looked upon as an opium-ridden dream for “tech nerds”, reality has come to show any doubters and haters that the craze and hype were both true from the get-go. Nowadays, the people who master all the knowledge and facts regarding cryptos have as much power as an NFL fan who knows all of the football facts there are to succeed in any football-related trivia. It might not sound as much, but believe me, sports fans are some of the most passionate people in the world, so having full knowledge of their favorite sport is something that’s treasured beyond belief.
Of course, when something in the world can amass such popularity and coverage, unjustified myths will usually pop up from everywhere, mostly from uninformed sources just looking to cause a splash. But, at least regarding cryptos, you have nothing to worry about, because we’re here to debunk some of the most popular myths surrounding cryptocurrencies.
Cryptos Are Too Complex To Understand For Everyday People
At first, when cryptos were only starting to see the light of day, the myth behind cryptocurrencies and the way they can be used, traded, and invested was probably true. But at the end of the day, what new invention isn’t hard to understand at its beginning? Thanks to the many technological advances that we are witnessing every day and the special focus that blockchain technology companies have put on making cryptos accessible to everyone, there is no truth behind the idea that cryptos are too complex to understand for everyday people.
Nowadays, crypto trading and investing can be done through mobile device apps, wherein simple moves and processes, anybody who is willing and interested in entering the world of cryptos can do so. What is also very true, is that while the actual process of working with cryptos has been made easier and easier as time continues to move along and this new option of currency continues to amass more followers, knowledge on the subject and a clear understanding of the do’s and don’ts of working with cryptos will always give any investor or trader, old or new an advantage in the field.
Crypto Investment Is Only For Already Wealthy People
When you read about cryptos, NFT’s, blockchain companies, and any other matter regarding the e-money universe, one of the first things that usually pops up, is the idea and understanding that to invest in cryptos and succeed, people should come into the game already with a hefty amount of money in their bank accounts. But that’s not necessarily true either. Again, thanks to all of the technological advances we get to partake in every day, crypto trading and investing have been made easier and accessible for anybody and everybody willing to take the plunge.
Sure, if you go online and check out the price of any of the world’s top cryptos, you might end up finding numbers that could easily scare away somebody with not enough economical backing to initially invest, but that does not mean at all that people with lower investment budgets should stay away. What it means is that to succeed, they must find whichever crypto adapts best to their budgets and go with that. Just because Bitcoin is soaring through the economic skies one day, it doesn’t mean that it’s the only crypto worth investing in. Given the decentralized nature that cryptos hold, their value is always fluctuating, meaning that, if people are smart enough to check all the signs and patient enough to know exactly when to make a move, at the end of the day is not the initial budget that matters, but what is done with it.
Cryptos Are Illegal
Nope, sorry, but that’s one of the biggest misconceptions when speaking of cryptocurrencies. Given that cryptocurrencies have a decentralized nature to them, meaning that they are not subject to the fiscalization of any governing or economic entity, the myth behind cryptos being an illegal tender has taken certain force, but at the end of the day, especially with how many of the world’s top industries and companies have embraced the use of cryptos as a form of payment, it makes you wonder if the people who say cryptos are illegal would stand their grounds debating that with the economic chiefs of companies like Apple or Amazon?
Governments from around the world have started to work on finding a common ground in which to come up with economic and taxation reforms directed towards the use of cryptocurrencies in their economies. While there have been countries like China where there have been clear signs of hesitance towards fully welcoming the use of cryptos, other economic giants like the USA and various European countries have started to find more and more ways to adapt to the use of cryptos in everyday business dealings. If at the end of the day they were to be illegal, that would mean that all countries and businesses accepting them would be committing some sort of economic crime, right? See our point, no, cryptos are not illegal.