Without a doubt, cryptocurrencies have been one of the most celebrated events over the past decades and perhaps the most controversial one too. Rumors and assumptions often follow when something new and huge happens. Add commercialization in, and you’ll get the perfect recipe for rumor mongers to create hearsays without fail. Such is the case as cryptocurrencies continue to rise prominently in the market. These hearsays and rumors can be misleading for the users, therefore, we all must do our proper research to separate facts from myths. Here are some of the craziest myths about cryptocurrencies you should not believe.
Myth - Cryptocurrencies don’t have real value
Since cryptocurrencies are digital assets, people can’t see or hold them, which makes them think that it does not have real value. Not true at all. Physical currencies are also made of materials that technically do not have much value like gold or diamonds, but they have obtained their value because the authorities gave it to them. In the case of cryptocurrencies, it’s the people using it that gives them the value because it’s decentralized and not controlled by any authority. So, even if you can’t hold or see them, they do have value.
Myth – Cryptocurrencies are for criminals
Quite the contrary, cryptocurrencies are very difficult for criminals to infiltrate as long as it is run by a fully secure exchange. Take Virie Market for instance. It’s a decentralized virtual marketplace for currencies, both fiat and cryptocurrencies, as well as goods and services. With the hybrid protocol of Proof of Work (PoW) and Proof of Stake (PoS), an attacker needs to have 50% of each to be able to infiltrate the protocol, making it much more challenging and impossible. Using modern cryptography, all transactions are untraceable and unlinkable. Unlike banks and other centralized institutions where personal data is a requirement to be able to open an account, Virie does not require any of those, which keeps your money even safer. All you have to do is download it here to be able to use it. It’s best to read their white paper to see how criminals can never get into it.
Myths – Cryptocurrencies are only for the tech-geeks
False! If you use the internet, then cryptocurrencies are for you. Even if you don’t know the technology behind it, you have been benefiting from the internet even if you are not a geek. Cryptocurrencies work the same way as the internet, so even if you are not a tech-geek, you will surely benefit from it, especially if you will use a platform with a very user-friendly interface such as the one Virie Market has. Based on personal experience, it’s so pleasurable to work with it. In fact, this blockchain product has been created for mass consumption, so you don’t really have to be an expert on cryptocurrencies to use it. Watch out for its IEO very soon. First-time investors are actually encouraged to take a look at it. Download it here
and try it yourself.