Finances

4 Interesting Myths & Facts on Blockchain and Cryptocurrency

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Written by Quentin Hack

The world is moving by change. It is a fact that is the reality we live in. Changes are all around us and they are constant. A clear example of this is every sphere, and especially the changes are seen from the aspect of the world of finance. The world of finance has changed a lot over the years. Thus, over the years, a change is felt in the way that the world works. Here we start with the period about 50 years ago when only money existed. At that time, people used only money as a means of payment. As time went on, various loans offered by banks appeared, then checks, credit cards, electronic payment via the Internet appeared and today is the latest change – cryptocurrencies.

Although no one believed in them and no one believed that this concept would one day come to life, still when you believe in the idea you succeed. Only 11 years ago, a concept was introduced that only those who came up with it believed in. To others, it seemed like another strategy that would soon fail and fail at all. But despite all the skepticism, that concept worked. And do you know what the concept is? It is the most popular currency of this type of all time. It is a bitcoin that breaks all records day by day and is growing, and because of that, it is the most common and most popular choice among many of those people who want to invest in crypto money.

The field of cryptocurrency is very confusing for some people. They are simply as if they are only interested in the profit they can have if they manage the investment properly and manage to get money. But not everything is so easy. To be part of that world it is necessary to have knowledge from several fields and to know thoroughly everything that is part of the world of crypto. It is primarily important to know how to act, but also to know exactly what it is about. We emphasize this because many people have only basic knowledge and knowledge, and thus they are unprepared and only create confusion among other people. This confusion appears in the form of various myths that do not exist and are untrue that they invent themselves and think that they are true. Thus these myths spread and a very large part of the people began to believe in them. Some of these myths we have prepared for you today with facts to clarify these things and guide you to the real thoughts that refer primarily to Bitcoin as the leading cryptocurrency and blockchain that people often find very confusing. In that case, let’s get started!

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  1. Bitcoin is a non-profit cryptocurrency that can only bring a loss – WRONG – many people just want to put their thoughts ahead of others that are untrue. One of the untruths posed by a certain group of people is that bitcoin is unprofitable. That’s a big lie! Bitcoin is considered to be perhaps the most profitable cryptocurrency of all time (from the beginning of the crypto until today). Proof of this is the results of the stock exchanges that set new and new records every day. This myth, ie this incorrect explanation was obtained from people who did not know how to manage the coins and therefore failed to make any profit. That’s why you need to be well informed and then start working with bitcoin and crypto in general.
  2. It is impossible to trade bitcoin – FALSE! – there is another thing that is unclear to humans. That’s the whole concept of cryptocurrency with a special emphasis on trading. They believe that bitcoin is a currency that could not be traded. This is a big lie that they have nicely packaged as a kind of myth and pass it on to other people who are not well acquainted and would believe this. Otherwise, if something is the most successful and best for trading then it is definitely bitcoin. You can easily make good money with it, but you need to know the basics of bitcoin, have a good trading system, and monitor the whole situation such as bitql and of course – be patient and determined when it comes to buying and selling coins. It’s simple, it just takes time to get used to and the whole thing works.

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  3. Bitcoin and blockchain are competing for cryptocurrencies – FALSE FROM FIRST TO LAST WORD! – if something is bad, then it is bad to be uninformed. Yes, misinformation leads to misconceptions, misconceptions, and misconceptions about things. Such misconceptions are created about both bitcoin and blockchain. There is a myth circulating on the Internet that these are two competing cryptocurrencies, which is a huge untruth. Bitcoin as we all know well is the cryptocurrency that is the most successful and that everyone chooses as their choice for making an investment. And blockchain is a database and coordination system that is used by cryptocurrencies, and most often by bitcoin as a success story.
  4. The blockchain monitors your information and data and makes you fail to make a profit – LIE! – there are various considerations regarding these new types of virtual coins. One of these thoughts is marketed as a big lie packed like a myth circulating on the Internet. It is a myth that the blockchain is a perfectly designed system that takes the information of all traders and owners of bitcoin or some other crypto and then uses it to reduce the value of the coin or specifically for a person to fail in trading. Not true! This system can only help you in trading and give you more chances to earn, and everything else is a myth that is not true and you must not believe it.

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This is just a part of what is being done on the internet and in reality in general. It is up to you not to believe everything you read and to check with facts to know that this is not true and that the truth is only that cryptocurrencies, especially bitcoin are the future of investing, and the best helper in investing is blockchain.

About the author

Quentin Hack

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