5 myths every crypto investor is tired of hearing

[ccedk_pr]

If you have ever told someone you are a crypto investor, they have probably responded with such questions as “Isn’t that what criminals use to buy drugs?” or perhaps “Aren’t cryptocurrencies kind of pointless?” You may have responded by rolling your eyes or simply denied their claims, as these are the usual reactions from people who have yet to understand the actual uses of cryptocurrency.

These are just a few myths associated with cryptocurrencies that crypto investors constantly face. If ever given the chance, feel free to use the following list of proper responses.

Myth 1. Cryptocurrency is only used by scammers and criminals

Out of every myth on this list, this one is by far the most ridiculous. Unfortunately, one of the earliest forms in which cryptocurrencies were displayed to the public was through news reports of its illicit uses on the dark web. Due to a few people using cryptocurrencies to purchase illegal items, it was deemed by many as a currency for criminals.

Consider this — is Gwyneth Paltrow a criminal? What about the Winklevoss twins? No? Well, they are just a few of the law-abiding crypto investors utilizing cryptocurrencies every day.

Cryptocurrency, like any new offering or technology, is a double-edged sword. While cryptocurrencies have provided many positive uses to society, they can also be used negatively — however, that doesn’t necessarily mean this is what they were designed for. Same as if someone uses dollars to purchase illegal goods, that doesn’t mean a dollar itself is illegal.

Myth 2. There are no ‘real-world’ uses

Another common myth that someone even brought up to me today. In response, I described the current situation in Venezuela. The country is suffering from hyperinflation causing its national currency, the bolivar, to drop in value by almost 95%. To purchase a simple meal, Venezuelans literally need to pay with stacks of cash, this is why the cryptocurrencies are being widely adopted throughout the country. Their low fees and instant transactions make them much more useful than Venezuela’s national currency. In this case, their ‘real-world’ use is so real that cryptocurrencies are literally feeding the country plagued by hyperinflation due to the negligence of the government and central banks.

Besides providing an alternative and stable currency to an entire nation, cryptocurrencies can be used to purchase various products and used as an investment tool as well.

Read About Rest 3 Myths HERE

[Svelto]

The first myth is what I heard the most. Many people think that crypto currencies are used for criminal acts such as buying drugs. Seriously, fiat can be used for the same purpose.

[BTCreward]

And the myth that cryptocurrencies were created by the FBI?!  A lot of myths around cryptocurrencies that are not justified by anything. But the fact that the cryptocurrency is still not widespread is a reality.

[IgorShumilo]

You wrote a good post, I liked reading. I fully agree with each item and myths of cryptocurrencies, except the point that cryptocurrency is a fraud. Unfortunately, 95 percent of coins and tokens are frauds and they were created to raise a lot of money and buy a Lamborghini or an island.

[GmBoom]

The first myth is what I heard the most. Many people think that crypto currencies are used for criminal acts such as buying drugs. Seriously, fiat can be used for the same purpose.

Most of the people nowadays are completely ignorant. Those guys that are bashing cryptocurrency don't even know what its main purpose are. If they educate more maybe they can learn something new.

[Matcuda]

There are a lot of myths, conversations, and people continue to invest and get sucked into cryptocurrencies. There is really little real use, and fraudsters will be everywhere where there is money. So for young technology this is still a reality.

[cola-jere]

Cash is used more by criminals vs cryptocurrency. Cash is more fungible and less traceable compared to crypto currencies.

[Herbert2020]

you can not generalize these things and you surely can not make any of the statements you posted here. and i won't click on that click bait link

for example when you say "Myth 1. Cryptocurrency is only used by scammers and criminals" it is not a myth and since you are saying "cryptocurrency" and not something specific that makes you wrong in claiming it is a myth. i can show you hundreds of pure scam cryptocurrencies that were created by criminals and were only used by criminals. and that is not even mentioning hundreds of ICO tokens that were hiding their money laundering in form of an ICO token!!!

as for "Myth 2. There are no ‘real-world’ uses" again the same thing applies. for about 95% of the altcoins there is absolutely no real world uses. they are utterly useless! the remaining 5% consists of a handful of them out of 2200+ altcoins with bitcoin nearly holding all the real world use cases while the rest having some use cases.

[St4yInTh3D4rk]

Is this article were written by yourselves or just taken from someone's blog?

Whoever own that post,its better for you to include

Code:

[quote]If you have ever told someone you are a crypto investor,.........Read About Rest 3 Myths HERE (https://dex.openledger.io/5-myths-every-crypto-investor-is-tired-of-hearing/)[/quote]

To avoid getting banned for plagiarism,if you once banned then it will be very hard to recover.

[Andruha1993]

Yes, I constantly hear these myths. Usually, those who do not understand anything about it say badly about cryptocurrency. Therefore, they treat it negatively.

[Bossian]

Sorry to burst your bubble dawg, but myth #1 is not a myth.

Of course cryptos are not solely use for money laundering, but I believe there has been massive money laundering going through Bitcoin. Hundreds of millions USD, perhaps even a billion or two. Bitcoin was just so convenient for this, it's becoming less easy now, maybe that's also why Bitcoin price is dropping for months.

[VitKoyn]

Well we will always hear those cryptocurrency myths because there will always be a newcomers that will lead them to a non trusted sources that spreads wrong information and will think that it is true, then will start to think that Bitcoin and other cryptocurrencies are useless and only used for bad activities, without knowing the good things and how can cryptocurrency improve a lot of systems that can help them in the future. Honestly, If I hear people saying that they believe on those false information, instead of being angry on them, I would loved to explain the good things about it and help them understand everything. And another thing, why not complete the list here instead of giving a link of an article?

[BADBITCH]

The first myths and the second are very paramount on The internet and my country
But despite’s those myths we have seen bitcoin develop over 4000 atms across the globe
And likewise we have seen platforms accept bitcoin etherum and other crypto currency as payment time this on the website
Why can we worry more ?

[dewildance]

The first one and the second is the one of the most hearing problems. But I can't understand what you didn't share all of your article?

At least, you may share the title the other 3 of it. Or you may change the title on this thread.

[Cardilb]

once upon a time me also trusted these myths but the day when i came to know about the real fact about crypto .Now i don't bother about rumors  anymore.

[metalglowd]

Myth 2. There are no ‘real-world’ uses
Another common myth that someone even brought up to me today. In response, I described the current situation in Venezuela. The country is suffering from hyperinflation causing its national currency, the bolivar, to drop in value by almost 95%. To purchase a simple meal, Venezuelans literally need to pay with stacks of cash, this is why the cryptocurrencies are being widely adopted throughout the country. Their low fees and instant transactions make them much more useful than Venezuela’s national currency. In this case, their ‘real-world’ use is so real that cryptocurrencies are literally feeding the country plagued by hyperinflation due to the negligence of the government and central banks.

Besides providing an alternative and stable currency to an entire nation, cryptocurrencies can be used to purchase various products and used as an investment tool as well.

each person has a different perception of "real-world uses". If only crypto is currently used to buy goods from either the online marketplace or offline, then many companies will be able to make such products. There are also those who hope that the application of crypto is a mass adoption, but the problem is if the crypto is not stable then the participating merchants will suffer a loss

[Bossian]

I'll give you a myth that is true (and therefore is not a myth):
Bitcoin is not yet a currency.
It is difficult to use nowadays to buy good and services.

For now it is a store of value, nothing less nothing more.

[bassbity]

The first myth is what I heard the most. Many people think that crypto currencies are used for criminal acts such as buying drugs. Seriously, fiat can be used for the same purpose.

yes, just like in my area, they thought that crypto money was my own criminal act and it was affected because it was accused of ATM burglary because they did not know what my job was actually there was a bitcoin seeker.

[karagun125]

I think not only crypto investors got tired of hearing that, even crypto enthusiast that are trying to explain to some people to be involve or join crypto. Because first thing comes out to the mind of person that has no idea on crypto is he can say crypto or bitcoin is just fraud or scam.

[lobo13hf]

The first myth is what I heard the most. Many people think that crypto currencies are used for criminal acts such as buying drugs. Seriously, fiat can be used for the same purpose.

That's myth. That opinion has created by most of ordinary person which lack of knowledge about what's the purpose of the cryptocurrency. Only crypto that used anonymity tech has already used to buy that kind of goods. But the latest news has been showing the decrease on its transaction.