Today, not everyone is aware of what a cryptocurrency as rathalos coin even is. And if you happen to be one of those people, then you might also be experiencing plenty of financial insecurity as well. However, there is a solution for that: educate yourself about this new form of currency! If you are worried about losing your job or the economy crashing in general due to new forms of money replacing traditional ones like dollars and pounds, don’t worry. In fact, cryptocurrencies have been on the rise since 2009 and have yet to find significant competition among other fiat currencies in other countries.
1. You store your cryptocurrency in a bank
The banks have been the subject of numerous conspiracy theories, with some people claiming they control more money than federal governments and big corporations. But if you are one of these people who just can’t keep your crypto in a wallet and instead put it in a bank account, then we’re sorry to tell you that you should probably stop doing that. And no, this is not financial advice. This is, however, an educational blog. Banks are great for storing fiat currencies like dollars and pounds because they will allow you to withdraw them whenever you feel like it. However, cryptocurrencies need to be stored somewhere safe so that only you can access them.
2. You have exaggerated notions of what a cryptocurrency is
Some people hold pride in being the first to buy a house or a car or get that mega-millions lottery. You know, the kind of people who think that money owes them something. But the thing is, other people are working hard to make sure that those things don’t happen for them. You think you’re some amazing early bird when in reality most people have held their money for several years and have never even met anyone else with an opinion on crypto currencies.
3. You don’t understand blockchain
Blockchain can be a bit confusing at first, but as you read this article you will learn more about it, and hopefully so will your friends! If all you can do is just read it, that’s right where I would start. After all, it’s not the most difficult concept in the world. It’s a digital form of currency that does not require authorization to access or use from any third parties. Also, it exists outside of national jurisdictions and is currently experiencing an astronomical rise in popularity.
4. You think the word cryptocurrency is a typo
If you’re one of those people who thinks that crypto currencies are a hoax and nothing more than someone making typos, then oh boy do I have some news for you. The term cryptocurrency was coined in 2009 as a way to describe encrypted digital currency that uses cryptography as a means of security. If you’re still not convinced, read on.
5. You think that it’s impossible to trade in crypto
Either we trust what we take for granted or we can keep on searching for answers regarding the mysteries around our world. In case you haven’t noticed, a lot has changed in the last few centuries. For example, a lot of people used to believe that square eggs were impossible until a farmer from Australia proved those people wrong.
6. You think that mining Bitcoins is something to fear
If you are afraid of mining Bitcoin because you think it’s too technical or difficult, I have a newsflash for you: it’s really not! All you need to know is what an algorithm is and how it works, and from there all you have to do is set up your hardware and run it on your computer or laptop.
7. You think that crypto currencies are only for computer geeks
The knowledge of crypto currencies is not restricted to just computer geeks. The only reason you could have ever thought otherwise is because you don’t know much about the subject. Which is why right now, if we do not act fast and further educate people on this new form of money soon, it will be too late to catch up with the industry and it will fall more into the hands of criminals and hackers around the world.
8. You think that buying a hardware wallet will be expensive
I’m here to tell you that making Bitcoin wallets out of hardware can be done for quite cheap if you know anything about manufacturing technology or electronics design in general. It is possible to get those exact same Bitmain segwit wallets for about $20 USD.
Knowing more about crypto currencies and how they work can be a good start to helping you make informed decisions. After all, there is no telling when the love for them might fade away like it did in 2011, but hopefully we can keep our children and grandchildren from being blinded by greed and lies like we were. The truth is that the crypto world has been changing the way we browse on the internet forever, with Ethereum being at the forefront of that revolution. But it’s important for us to remember that this is not going to continue forever. Diversification is key if you want to make sure you aren’t stuck holding all your hard earned money in one place like so many of us already are.