Myths About Cryptocurrencies That You May Believe

If at times you are a little confused about foreign terms and often hear names like blockchain, bitcoin, bears and Satoshi Nakamoto, would the world of cryptocurrencies send special signals to you?

A little intrigue about what all of this might be all about is probably already there, but it's important to know how much information is right before you.



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Before deciding to conquer the peaks of this world, it is better to know exactly what is a myth and what is reality, so you can check out the information we have been listening to in our blog.

Myth 1. Cryptocurrency production requires more resources than other traditional currencies

There may be a lot of energy spent on cryptocurrencies, but we can't say that it needs more resources than traditional currencies. In fact, the money we have in a tangible way requires a lot of resources and infrastructure because of its centralized nature. (E.g. banks, ATMs, human resources, etc.)

Myth 2. Bitcoin = blockchain

Bitcoin is the first successful decentralized cryptocurrency developed by blockchain technology. Since then, however, other cryptocurrencies have emerged in the world, starting with their own independent blockchain technology.

Myth 3. Cryptocurrencies were created for illegal transactions

In fact, any currency can be used for illegal transactions. For example, the dollar remains one of the important means of trading in the black market, so the question arises, why were cryptocurrencies created solely for this purpose? In fact, the purpose of cryptocurrencies and any other currency depends on their will, not on the will of humans.



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Myth 4. Ordinary people can't figure out cryptocurrencies

In fact, the use of cryptocurrencies has become so much simpler in recent years that making transactions as easy as any other money you have now electronically. Accordingly, if you are interested in owning cryptocurrencies, buying / selling and doing different operations, you just have to choose where to open your electronic wallet and you are ready.

Myth 5. You can't exchange crypto cash

Of course, you can swap cryptocurrencies for traditional money and there are plenty of platforms for that. For example, with maikoins for you, or is paid in dollars in the transaction.

Myth 6. You can physically own bitcoin coins

Bitcoin has no physical form and it does not exist outside of blockchain, so if someone tries to convince you that a particular coin is bitcoin and that it is valuable, you can just take it as a joke.

In general, the question mark that still exists around cryptocurrencies when it has only emerged in our lives for tens of years is one thing: the world of cryptocurrencies is inexhaustible, and the only correct way to discover it is to verify the capabilities there.

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Posted via Steemleo | A Decentralized Community for Investors