Five Myths About Bitcoin

In today's time Crypto adoption is growing day by day and Bitcoin EtF approval is near and once it approved the crypto industry will grow very fast like wild fire. But still many people stay away from this crypto thing because of some useless myths and today through this article I will talk about those myths related to Bitcoin.

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Criminals Use Bitcoin

Everyone saying that bitcoin is anonymous that's why it is best for criminals to do transaction using, but it is not that true. Every transaction made with bitcoin always stored in it's blockchain and it is very transparent which will help the legal authority to check them and take legal action according to that if any supicious activity is done with any address.

It is a Ponzi Scheme

Only fools can say that bitcoin is a ponzi scheme, well bitcoin is volatile and we can't deny, that bot it is not controlled by one big entity, it is a decentralised asset. And not like a ponzi scheme where the scammers run the project for few times by paying investors from the other investors and run like this some time to be trusted them run with a lot of money from the investors.

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Bitcoin Is Not Environment Friendly

Well, this fact is also not hundred percent right because the blockchain technology on which bitcoin run consumes less energy, than traditional financial institution but it's mining only needs high energy and it can be eradicated with renewable energy sources on which the development is going on.

Bitcoin Is Only For Techies

It's another reason why many Traditional investors or people stay away from the bitcoin, they don't understand how easy it was, they don't get it, they think it is very complex, while the technology is only complex but using it, is not complex at all. It's very easy to do transaction using bitcoin, you only need an exchange and a address.

Bitcoin Has No Intrinsic Value

Bitcoin is the tech of future, the advanced form of money, which have no boundaries at all, also it is censorship resistance and can be used in business and limitless innovative ways. But still people say, it has no intrinsic value, which real life company or element back it. It doesn't backed by anything and the statement is totally wrong.

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