4 Common Misconceptions Regarding Cryptocurrency

......world's no1 cryptocurrency dictionary!

4 Common Misconceptions Regarding Cryptocurrency

March 9, 2018 News 0

The phenomenon known as cryptocurrency has attracted a lot of attention. Plenty of people are looking for up-to-date information regarding this new form of money. Unfortunately, this leads to a lot of misconceptions surrounding Bitcoin and altcoins. Let’s dispel a few of the more common ones. 4. Governments can Control Cryptocurrency Even though some governments may want people to think they control and regulate cryptocurrencies, that is far from the case, as cryptocurrency cannot be regulated or controlled by default. Companies providing solutions related to this new form of money, on the other hand, are subject to existing guidelines which apply to other financial service providers as well. The flow of money in the cryptocurrency world is not controlled by any central authority, nor will it ever be. 3. I need to buy a Whole Coin Even though it makes perfect sense for most people to buy one full Bitcoin, Litecoin, Ethereum, Monero, and whatnot, it is not necessary. For those who want to invest a very marginal amount of money into cryptocurrency, every coin can be divided using the eight digits after the decimal. This means one can buy a very, very tiny fraction of one coin and still be considered an active cryptocurrency investor. Buying 0.001 XRP, of course, will not get you a lot of profit. This principle is valuable to explore when dealing with low-supply coins, whereas currencies with billions of coins or tokens in circulation usually warrant the purchase of one full coin or token due to their…
Source: 4 Common Misconceptions Regarding Cryptocurrency