Cryptocurrencies are on the market for about ten years, but for many people, they are still something new and unknown. It can be easy to learn of them and their usage if you want, and you will see, once you realize how to use them, it can mean a lot to you. If you want to expand your knowledge about this subject, check bit-qt.app since you can read a lot of useful information here. New things are almost always frightening, but cryptocurrencies shouldn’t be. In the text below, there is a list of popular misconceptions to help you understand better this type of money.
Those exchanges are illegal and made for criminals
It is not easy to accept new things, especially when it is about money. The first time, people were avoiding credit cards because it wasn’t something that looked sure enough. Today, credit cards are something usual, and almost every person is using them. But, now the cryptocurrencies are something that is frightening people. Many of them are sure that it is illegal and that it is the currency for criminals. The truth is that criminals can use every payment method, so this claim makes no sense. The digital way of paying is much simpler, and many people are using it every day, and it is probably sure that some criminals are using that too. But that doesn’t mean that if we stop use them, it will end up all the criminal actions. Luckily many people don’t think about criminals, and they are using cryptocurrencies every day. Some countries are still avoiding it, but soon, this will be as popular as credit cards or cash.
Cryptocurrencies exchange is anonymous, and there are no taxes
It is true that for those transactions, you don’t use the real name, and you use the pseudonym instead. But every transaction is using the wallet address, so it is easy to track it. That means that it is easy to discover any illegal activity and find the person beside the pseudonym, so those transactions are partly anonymous. Don’t worry if you are clear and not doing some criminal works, this amount of anonymity is enough. Another big misconception is that there are no taxes at all because everything is anonymous and because there is no need to go to the bank. The truth is that some countries don’t have taxes, but most of them have. Many of them have different costs for selling and buying, but there is always some amount of money that you need to give up. No one likes that, but it can be a good indicator that it is not something illegal.
Cryptocurrencies will replace real money, but they don’t have real value
Replacing the paper money is not that easy, since it is here for a long time, and for many people, it is the only way of paying. Credit cards are popular, and youngsters adore them, but cash is still in the first place for most people. Speaking from a psychological view, you feel much safer and better when you have money in your hands and see how much of it okay to spend. Using a credit card or cryptocurrencies can mask the amount of money, and you can spend more than you want. That gets us to the new misconception that cryptocurrencies don’t have real value. Well, we can compare it to the claim that credit cards are not using real money, and it is nonsense. It is okay to prefer cash, and it is okay to use only cash, but digital currencies can change our way of thinking if we give them a try. Using them is the same as using bills, and you can do everything with them too. It can be tricky to estimate the value of money until you hold it in the arms, but it is the same with cards, and we are using them gladly.
Hacking the transactions is an easy task
People are still suspecting online things, and most of them do not consider them safe. Of course, this does not always have to be true. Many world banks use online platforms and guarantee security, as is the case with cryptocurrencies. Hacking these systems is practically impossible because, in that case, everyone is at a loss, so all measures are taken. Your funds are safe, and you don’t have to worry about losing them. All you need to do is think carefully and choose a secure platform, and avoid giving your personal information to everybody since it can be the easiest way to hack the system. Keep your data safe and talk only to the ones you trust.
Cryptocurrencies are for finance people and too confusing for regular ones
Creating cryptocurrencies is not an easy task because of the necessary code, but regular people also don’t know how to make real money, so it is the same. The whole point is that you don’t need to know everything to use cryptocurrencies, just like you don’t need to know to make a phone to use it. Your knowledge depends on what you want to learn and to do with them, so learning basics is enough for things like trading, investing, or just owning. If you already know how to operate with real money online, then managing crypto won’t be a problem. Those systems are similar, and it is not hard to use them. New things can be confusing, but you don’t need to be an expert to use cryptocurrencies as one.
New things can be scary if we don’t understand them, and the only solution is to learn the unknown. Cryptocurrencies will certainly be with us for a long time, and running from them won’t help. Traditional persons will always prefer cash, but that doesn’t mean that it is the best. Everyone should be open to new solutions, and maybe the new things are not always better, but they might be.