Six Cryptocurrency Investment Myths To Forget

(Disclaimer: Author holds investments in Bitcoin.)

2017 was a transformative year for cryptocurrency. Its combined market cap grew to more than $600 billion by the end of the year, up from just $15 billion in January 2017. While soaring prices acted as a barrier to entry for some investors, the market has since softened, with significant price drops correcting last year’s skyrocketing ascent. While this turnaround presents new investors with an intriguing opportunity to enter the market, some remain hesitant, often due to falsehoods they hear from friends, family and even the media.

Misinformation is nothing new for any technological revolution or asset class, so it’s not surprising that cryptocurrency has faced an uphill battle for broader acceptance. As the director of strategic planning for a company that assists with cryptocurrency investment, I have already seen the currency struggle in the face of doomsday predictions, accusations of being a Ponzi scheme, security concerns…