In today’s live crypto news, we are going to talk about myths, misinformation and the misconception regarding cryptos in our world. As we all know, the crypto world has started to become a platform where many investors and marketers gain more money as part of trading, selling and exchanging. Thus, this is the reason in the live crypto news article, we are going to walk you all through the common myths behind the crypto world.

The Way Cryptocurrency Works

People tend to think that cryptocurrency is prohibited because it is able to be authorized without the need of any government or any bank authority. The thing about cryptocurrency is that most of these currencies come in a digitized form known as bitcoins. In addition, most of this currency comes from almost all around the world where it holds the same exact value, for example, if you got a dollar bill from Boston and at the same time you got another dollar bill from the San Francisco on your hand, both of this dollar bills is going to give you the same amount, therefore, in the cryptocurrency world, the way the currency works are pretty much the same. This is why the banking industry and also the government doesn’t have any control over cryptos due to its broad spectrum of use.

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Myth Time!

Cryptocurrency Is Illegal

Cryptocurrency is in fact not illegal, and it can be widely used by people nowadays. The cryptos are known to be a digitized platform where most of the currency serves the same purposes and doesn’t have different value regardless of where and when it was created compared to a physical currency that would hold its value and worth due the country it has been originated from like United States dollar and Euros Pounds. Therefore, the cryptocurrency nowadays is able to be used as a form of investment to make payments or even buy things that you might like. It can also be used to redeem prizes and rewards. 

Used For Illicit Purpose

Cryptocurrency has been claimed to be linked for wrongful purposes by many people. But in reality, that’s not true. The cryptocurrency is a digitized form of money and it would be hard for those currencies to be used for illicit purposes due to its constant change when it comes to digital currency. The cryptocurrency’s value depends on the wavelength of its digital value, therefore most of this currency is not suitable and most definitely not used for illicit purposes.

The Trading Platforms Are Complex

The thing here is nothing is complex, unless you failed to prepare yourself beforehand for it. People’s assumption when it comes to cryptocurrency is very obvious, they tend to label most of the cryptocurrencies platforms as being complex and complicated. The thing here is, with better knowledge and guidance, you will be able to fully understand the concept of cryptocurrency. 

Cryptocurrency is a simple platform where you buy a share on a platform to trade it in a trading platform. The important part here is that you should be aware of what you’re getting yourself into. The rest of this trading, buying can be easily done with tapping into an account.

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