3 Major Crypto Myths Busted

4 Min Read

These days, it seems like everyone has an opinion about cryptocurrency. If you are someone who deals in crypto, then the chances are good that this situation sounds familiar: someone who has never traded a coin trying to tell you all about what you should be doing differently. One of the main reasons for this is that there is a lot of misinformation about crypto out there. We are going to bust some of the biggest crypto myths that are still being circulated.

Myth: Dealing Crypto is Unsafe

First things first: we should all be taking more care when we are doing any kind of business online these days. Cybercrime has run rampant over the last couple of years, and we all need to be making sure that we are taking every step possible to protect ourselves. With that being said, dealing in crypto is not inherently unsafe. In fact, blockchain technology makes it impossible for people to mask the records of their transactions. You should, however, invest in both a hot and cold coin wallet to keep your coins secure. These are software and hardware ways for you to store your coins. You should also use a password generator for any accounts that are associated with your crypto trading, and you should absolutely use two-factor authentication for your accounts.

Myth: Dealing Crypto is Difficult

One of the major stumbling blocks for people getting into cryptocurrencies is that they think it is complicated. It is easy to see why some people may think this, as there is a lot of jargon and buzzwords to get your head around. The truth is that it is easier to get started to get trading than you might think. The most important thing is to find a trading platform that works for you. There are a lot of different platforms out there, and many of them are aimed at different experience levels and purposes. Once you find the platform that works for you, then you are ready to go. If you want to instantly buy Ethereum with a credit card, then visit Paxful. Paxful has a range of different resources to help you buy and sell crypto with confidence.

Myth: Dealing Crypto is Expensive

The truth of the matter is that you do not need to invest a lot of money to trade crypto. Of course, there are always going to be some coins that are more expensive than others, but this is true of anything that you would be trading. If you do not have a lot of experience in this area, then it is always best to start small. One of the most important things that you need to remember is that cryptocurrency value is volatile, and you do not want to find yourself in a situation where you are playing with a lot of money before you really have a handle on what you are doing. If you have any friends who have a lot of experience, it may be worth talking to them about what tips they have to offer.

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