This article was first published on Official TenX Blog
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....
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Official TenX Blog