Initially, I had some misconceptions about crytocurrency when I was examining it. These are the three vital misconceptions that showed me deep reflection and a clearer understanding of the digital currency.
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3 MISCONCEPTIONS:
- Cryptocurrency Is not Useful
Crytocurrency has no important value and Inreality, it has no value. This idea is not true because digital currency exist as a result of people’s beliefs in the market. There will be legitimate money, useful money and strong economy if people have faith in crytocurrency. Crytocurrency supports the law of supply and demand like other conventional market.
- Cryptocurrency is a popular idea for a short period
Some people see the sudden change in value as the major reason why crytocurrency is not sustainable. Anything that adds value to people will stay for a long time but the value that digital currency brings may be questionable.
- I Can’t Afford It
Unlike the sales of shares from a company, Digital currencies are divisible. You can use your money to buy some part of bitcoin.
There are many misconceptions associated with crytocurrency, but I think the three major misconceptions I highlighted above have given a clearer picture of crytocurrencies.
Down here, it is amusing when I start explaining to my friends what cryptocurrency but they keep saying "it's vague".
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