Here in this article, we will discuss some myths that are surrounding the cryptocurrency market and how to break it for separating the real facts from that of the misconception of the fictional rumors.

1. Debunking The
Of
Crypto-currency

2. Here in this article, we will discuss some myths that are surrounding
the cryptocurrency market and how to break it for separating the real
facts from that of the misconception of the fictional rumors.
Although the dynamic cryptocurrency traders chase the news and
updates from the industry, there still exist a good number of confusions
and myths around blockchain and cryptocurrencies.
It is very important for you to first understand the whole concept of
crypto and then jump into the ocean of virtual currencies.
After reading this article, you can easily put together your thoughts
and formulate your own opinion about what Cryptocurrencies are.

3. Cryptocurrencies are the new
generation tulip mania
 Everyone knows that Bitcoin and the other
cryptocurrencies are something that does not exist
physically and you can’t even touch them and yet
everyone is crazy about it.
 They do not exist in your wallet like the fiat
currencies. Instead, they exist on your computer and
you can buy a lot of things using them virtually.
 This phenomenon of cryptocurrencies is becoming
global day by bay, and if one likes it or not the concept
has become unignorably important.

4. Trading is essential to make profits
Though people think it is mandatory to buy or
hold cryptocurrencies to earn profits from them,
the actual fact is that everyone can trade cryptos
without even buying it.
The market of these virtual currencies is
extremely unpredictable and it works on
speculation.
There can be multiple opportunities created by
the high volatile market which is a great window
for making profits.

5. Bitcoin and Blockchain technology are
the same things
Blockchain is the underlying technology for
cryptocurrencies which facilitates the process of
recording the transaction within some blocks.
These names can get you confused as they both
stores transaction data in a chain of blocks
which are linked together.
Blockchain is a shared immutable ledger here no
participant can tamper with a transaction after it
is recorded in the chain.
Cryptocurrency like Bitcoin is just a small part of
its application.

6. Crypto coins and tokens are the same
Crypto coins are virtual currencies which can be
used as an alternative to payments, while tokens
are used in a completely different way.
There are many people across the world who
have mistaken these crypto coins and the tokens
as the same thing.
Now, the virtual currency exchange market holds
over 2308 cryptocurrencies each of which has a
completely different market capitalization.

7. Crypto Trading is not safe as the
transactions are anonymous
Crypto trading and investment can be subjected
to market risks just like the other investments.
But it is fully secured and the only risk that can
be occurred is regarding the price volatility and
the regulation issues of these cryptocurrencies.
There exist some cryptocurrencies that focus on
privacy and anonymity, but it does not explain
that all the cryptocurrencies are anonymous.
They do possess a layer of transparency which
differentiates them from the substantial
commodities and the fiat currencies.

8. Cryptocurrencies are only for the
technical and finance communities
Many people are not known to the fact that every
single individual in this world can do
their digital currency exchange with minimum
trading fees.
Gradually the big companies also are accepting
and utilizing these new technologies like
Blockchain and cryptocurrencies.
The ones with a little bit of knowledge about
these new technologies will stay away from it
and think that these are only for the tech people
and those related to finance companies.

9. Conclusion
• The virtual currencies are progressively changing
the approach in which financial operations have
been carried out.
• There are daily new additions of people around
the globe who are accepting the cryptocurrencies
with the intention of taking the pleasure from the
benefits that these virtual currencies offer.
• On an endnote, for enjoying the profits from these
virtual currencies in the real world, you need to
take apart the myths from the truth by yourself
and that too before investing in the
cryptocurrency trading platforms.