Crypto Diamond: 3 Misconceptions about Cryptocurrencies exposed.
Ever since its introduction in 2009 with the launch of Bitcoin, cryptocurrency has had its fair share of
fame and shame. While the decentralized digital currency has witnessed massive growth and adoption
worldwide, it often confuses beginners. As per crypto legend, Crypto Diamond, the dynamic world of
cryptocurrency is fueled by rumors and misconceptions. Investors must do their own research before
investing in cryptocurrencies and understand the nuances of how the decentralized market works.
Crypto Diamond exposed the three biggest myths surrounding cryptocurrency and shares valuable
insights as an insider.
Myth #1 Cryptocurrency is a Scam
The biggest misconception for anyone new to cryptocurrencies is that they are a scam. “Cryptocurrency
itself is not a scam. In fact, it is one of the most legit forms of decentralized digital transactions,” states
Crypto Diamond. Governments around the world are working on finding ways to bring cryptocurrency
into mainstream finance, while small businesses and large corporations alike accept transactions using
cryptocurrency. “Like any other online exchange of money, people can be duped if they are not careful
or aware of how cryptocurrency works,” adds Crypto Diamond.
Myth #2 Cryptocurrency has no Real Value
While cryptocurrency is not real money, it does have real value. “The value of a cryptocurrency is
evident from the fact that you can buy or sell items using it. Similar to trading, the values of various
cryptocurrencies fluctuate following market sentiments, supply, demand, and economic growth,”
explains Crypto Diamond.
Myth #3 Cryptocurrency is not Environment Friendly
As per Crypto Diamond, this is debatable. Although operations like computations and Bitcoin mining do
require large amounts of energy, it is a cause that finds its key in opting for sustainable energy sources
in general. “You cannot say cryptocurrency is bad for the environment. It is the source of energy where
we need to evolve and find sustainable ways to power the world,” concludes Crypto Diamond.