The biggest obstacles encountered when operating with Cryptocurrencies are the myths and legends surrounding them; these represent an obstacle because they distort reality and lead investors to erroneous conclusions.
Like any sector in which money moves, cryptocurrencies do not escape being subject to situations or comments that are not necessarily true. These typical rumors are created with supposed spontaneity being repeated and amplified by all kinds of people.
It is possible to discern through the correct information what may be a myth or a reality; it is simple if some information that comes to you sounds too spectacular or too bad, it is a lie. Hopefully, you can now trade bitcoin with ease at bitcoin trends.
- Large amounts of money to invest in BITCOIN
False; you don’t have to have large amounts of money to invest in Bitcoin. Although Bitcoin currently manages a price range of less than US $ 60,000, a person can buy only a fraction of this cryptocurrency.
That is why the purchases of Bitcoins are not subject to significant investments unless the investor so wishes; it is essential to remember that to invest, the user makes only the decision.
We are starting from 0.0001 parts of a crypto active such as Bitcoin.
- It becomes more common to make payments with Cryptocurrencies.
In the beginning, cryptocurrencies were only considered a new form of investment. Still, the support of international companies through their adoption as a payment method has made them the new digital currency, backed by the trust of companies such as Paypal and Microsoft; both cryptocurrencies can be used to buy your products.
- No one backs BITCOIN.
This myth can be considered the most listened to. Many countries such as the United States, New Zealand, Switzerland, Germany, Japan, among others, have adopted and established these technologies with solid foundations.
Many organizations and even individuals are managing the use of BITCOIN in response to excessive inflation that, due to macroeconomic factors, affects the markets more every day.
- Bitcoin is an insecure asset.
FALSE, Bitcoin works under Blockchain technology; it acts as a ledger, is open to everyone, it is public and accessible. Furthermore, it is a decentralized cryptocurrency; the transactions on this platform are endorsed by millions of people with their computers anywhere in the world, turning operations into genuine transactions.
- Cryptocurrency exchanges are unsafe.
Some platforms will try to scam you. However, the Exchange of real cryptocurrencies has high-security standards. It is always recommended to inform you before investing through a specific application or Exchange.
- For not having support, BITCOIN IS NOT WORTH ANYTHING
Another of the myths or lies about Bitcoin even considered an error regarding what we know as value.
Supply and demand are the relevant aspects that give value to Bitcoin. With fiat currencies, only these are backup by the governments and central banks of the world, where their value will depend directly on the supply and demand of the inhabitants of a specific country.
- Must be acquired At least 1 BITCOIN to invest
It is the most common lie among potential new investors. If you want to acquire bitcoins, it is almost impossible to have around USD 50,000 to acquire only one unit of this listed cryptocurrency; when a standard user begins to invest, he never imagines that he must have this amount to be able to enter the world of investments.
Do not worry. It is entirely false; you can start investing from the value of an equivalent to 0.000020.
- Bitcoin is a scam or a bubble.
Since we don’t know who created Bitcoin, we only know its creator’s pseudonym. He registered his invention based on the open license, indicating that anyone can make use of this invention without paying anything to the creator of it,
On the other hand, if you decide to buy bitcoins, it is simply the same as buying dollars or euros with your local currency. So Bitcoin is far from being a scam, only that many malicious users want to make this platform the ideal tool to carry out scams, something that is entirely different.
- Cryptocurrency exchanges are not very safe.
Of course, some platforms could try to scam you, but cryptocurrency exchanges have been created under high-security standards, allowing their users to safeguard their financial operations.
- Blockchain is the same as BITCOIN
It is that just the fact of saying it is a lie; let’s remember that Blockchain is the Chain of Blocks where the Cryptoactives are stored, while the BITCOIN is the representation of a digital currency that makes use of this platform, the bitcoin can fall but the Blockchain Never.
Cryptocurrencies from their origin are subject to great pressure from the public. Even their volatility is due to comments that arise in the environment, which can affect positively or negatively, even without being true or false, the opinions expressed by the users or benefactors.