Cryptocurrency Myths Versus Facts for Investors
Getting the right information about cryptocurrency can help you make a decision about investing. If you’ve tried googling the name of this digital currency, you might be getting secondhand information from inexperienced people.
Here are some myths versus facts for investors so you can make a good decision.
Myth: The Cryptocurrency Bubble Is on the Verge of Busting
Fact: The first digital currency started in 2010. Since then most of them gained value. A good example is Bitcoin. There have been both peaks and valleys in cryptocurrency’s rise, but it’s the same with other currencies.
Myth: Cryptocurrency Is Only a Fad That Won’t Last Long and It’s Not Worth Investing In
Fact: Brick-and-mortar businesses originally said there was no need to go online to sell their goods and services. That wasn’t true. When the Internet first came on the scene, people said it wouldn’t last.
It was the same with smartphones. However, if you take a look around the digital world today you’ll see that it’s always expanding. And that includes cryptocurrency.
Myth: Cryptocurrency Can’t Be Used in Everyday Transactions
Fact: This currency is becoming more and more mainstream every day. Consider the fact that Morgan Stanley’s chief strategist even argued that Bitcoin could replace the dollar. Although that might be considered a stretch because the greenback is backed by the US government, there are new cryptocurrencies called stablecoins out.
Myth: Cryptocurrency Isn’t a Secure Asset
Fact: Blockchain technology is the cornerstone of cryptocurrency and it is celebrating its 14th anniversary. This is a shared immutable ledger and has never been hacked. This is up a peer-to-peer decentralized system that makes records of these digital assets unchangeable and transparent.
Myth: Cryptocurrency Use Is Anonymous
Fact: Here’s an example of why that isn’t true using the Bitcoin blockchain. This particular tool has an open ledger which means you can tie the wallet addresses to the amounts. When that happens, you have full knowledge of how much each individual is holding and the trades that they make.
Cryptocurrency Changing Real Estate
Here’s another fact that you can’t dispute. Cryptocurrency is revolutionizing home ownership with a decentralized common sense token. That’s where ETHi comes in. The product is based around a decentralized crypto token that’s based on rent-to-own real estate. ETHi is based on the Ethereum blockchain.
Interested investors should be aware the whole process is simple. First, you’ll need to download a crypto wallet to your computer, tablet, or phone. Next, you purchase ETH from the wallet up or you can transfer it into your wallet from an outside exchange. After sending ETH to your wallet address, send an email to info@ethicalfinance.co.
