👻 Mythbusters: 4 Common Myths and Fun Facts About Cryptocurrency
Myth 1: Bitcoin is too expensive to buy in 2019
You've probably heard this from someone who's curious about crypto:
"I'd like to start investing in bitcoin but it's just too expensive right now!"
Fact 1: You don't have to buy the whole bitcoin!
At the time of writing, one bitcoin is valued at ~USD $11,430. Sounds pretty expensive, except you don't have to buy the whole damn thing!
You can buy bitcoin in fractions, the smallest being 1 satoshi (0.00000001 BTC). 1 bitcoin is made up of 100 million satoshis, kind of how 1 dollar is made up of 100 cents.
Unlike traditional stocks, you can start buying cryptocurrency with pocket change - think $10 at a time. 😉
Myth 2: Crypto is shady and for anonymous criminals 🦹
This is commonly overhyped by the media. We hope you haven't used bitcoin to make any illegal payments, because...
Fact 2: Crypto transactions are actually traceable and public!
In reality, cryptocurrency transactions are transparent and highly traceable. You can actually see how much crypto is moved from one wallet to another, and even how much crypto is on any one wallet. 🔎
Public tools such as Blockchain Explorer lets you do just that. Learn all about it here.
Besides, crypto is now accepted as a payment method in lots of shops and services, for example at large retailer Bic Camera in Japan!
Myth 3: Crypto is only for the tech-savvy
"Cryptocurrency sounds so complicated, I'm afraid I'll get hacked."
"Also, it seems to be a tech bro thing. 😩"
Sidenote: no offense to tech bros.
Fact 3: If you use the internet, cryptocurrency is for you. 👌
Think about the Internet for a second. You know how to use it, but do you know the technology behind it? Even if you don't, it hasn't mattered all this time, and it sure as hell hasn't stopped you from benefitting from the internet! 🤷♂️
Think about crypto in the same way. You don't have to understand the underlying technology completely, but you can learn to benefit from crypto by following the best practices.
Just as you know not to download suspicious-looking software on your computer, there are similar guidelines for crypto that will keep you and your crypto safe.
Myth 4: Cryptocurrency is not real money, you can't even spend it 🙄
Fact 4: You can spend cryptocurrency internationally using the TenX Card 💳
Easy liquidity is what is expected of money — if you can't buy things easily, it's not money. The TenX Card makes cryptocurrency spendable anywhere in the world where VISA is accepted.
It works no differently from a prepaid debit card. You load up the linked TenX Wallet with bitcoin and/or Ether, and when you pay using the TenX Card, your cryptocurrency is converted at the point of payment. 🤘
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Disclaimer: Cryptocurrency is converted to fiat at the point of purchase. No cryptocurrency touches the VISA network.