There are countless misconceptions spread about Blockchain investments every day on the internet. As with any new technology, it takes some time to weed out the myths that spring up around it. In this article, we will share 9 of the most common misconceptions about these investments and set the record straight on this revolutionary technology.
9 Common Misconceptions About Blockchain Investments: Regulatory Risk Is a Thing of the Past
1. Blockchain Has Regulatory Risk
Actually, regulatory risk is a thing of the past. While there have been regulations developed for Bitcoin, there’s no risk of future regulations holding back the currency. Blockchain is a technology independent of any government or group of people. Considering how much support there is for Bitcoin at this point, there’s really no risk anymore. It’s grown too powerful to be banned.
2. Blockchain Is Hard to Understand
Blockchain is actually a very simple technology. It’s designed to allow transactions of cryptocurrencies, among other functions. The ‘Blockchain’ is a record of all cryptocurrency transactions that have ever occurred, and it’s distributed across a network of computers. This means that anyone can confirm which transactions have actually happened.
3. Blockchain Is Not Secure
All of the computers on the Blockchain network have a record of transactions. Because of this, it’s impossible to fake a transaction or counterfeit cryptocurrency. There is a limited amount of each cryptocurrency in existence, and it can’t be forged. Therefore, Blockchain is actually the most secure transactional methods ever created.
4. Blockchain Investments Are Risky
5. Banks Don’t Trust Blockchain
6. The IRS Will Come After You
7. Your Investment Could Disappear
8. Only Tech-Savvy People Can Invest in Blockchain
9. Bitcoin Is Not a Real Currency
A common argument against Blockchain cryptocurrencies is that they ‘aren’t a real currency’. Every day, more merchants are willing to accept Bitcoin for purchases, and its popularity grows. It’s gotten to the point where you can buy just about anything with Bitcoin. These days. Blockchain-based currencies meet all the standards of being considered a ‘real’ currency.