Top Bitcoin Myths | Investopedia

As with any new area of investment, cryptocurrencies have prompted potential investors and analysts to ask many questions. In the past couple of years, digital currencies have experienced significant boosts in popularity; nonetheless, there are persistent untruths, myths, and rumors about the space in general and about certain coins and tokens in particular. Below, we’ll take a look at some of the most common myths about digital currencies, and we’ll explore whether or not each contains some truth.

1. Digital Currencies Are Primarily Used for Illicit Activity

One of the oldest and, unfortunately, most pervasive myths about digital currencies is that they are most commonly (or perhaps most effectively) used for illicit activity. While it’s true that digital currencies have been used by individuals with nefarious goals in mind as well as by criminal enterprises, the same could of course be said for fiat currencies as well. One of the reasons behind this myth is the…