3 Bitcoin Myths Debunked

Feb 02, 2023

Author: Elle Miller

Bitcoin and crypto have been getting a lot of flack ever since Bitcoin was first introduced. From conspiracy theories to right-out lies, many people are spreading fake news about this technology to create fear in the market and keep us from a decentralised financial system. 

Despite that, many brave believers continue to educate the world on this opportunity, and here are some of the myths that have been debunked. 

Myth #1: Bitcoin doesn't have real-world uses

The first myth is that Bitcoin doesn't have any real-world use. This is not true! In fact, there are many ways to use Bitcoin and other cryptocurrencies in your daily life. It can be used to pay for goods and services, it can be exchanged for other currencies and it represents a store of value. It's also possible to use Bitcoin in a transaction where you are buying something from someone who does not have access to traditional banking methods or credit cards.

Myth #2: Cryptocurrencies are only for Tech Nerds and Rich People

Cryptocurrencies are not limited to tech nerds, geeks, technical people or those with access to large amounts of money. Many everyday people own cryptocurrencies and they use them daily just like they would use cash or a debit card. Bitcoin is now on track to become the most valuable currency in the world. The total market cap of all cryptocurrencies has increased more than 20 times since their inception.

It's possible to buy things online and even pay bills using cryptocurrency, so everyone can participate in this new economy.

Myth #3: It's Too Late to Invest in Cryptocurrencies

It’s not too late to start investing in cryptocurrencies. The fact is, it’s never too late to invest and there are plenty of great ways to do so.

In early 2017, the value of Bitcoin was worth under $900 per Bitcoin. Today, that same Bitcoin is worth in the tens of thousands per coin. Imagine what you could have earned.

Sure, if you had bought Bitcoin when it was at its lowest you would have made more money but we are still early in the journey of cryptocurrencies so there’s a lot left to gain for those who get in during this current bear market.

Here at Breakout Solutions, we’re working to help anyone navigate this space easily and more importantly, SAFELY! Yes, this has a lot of risks but with the right strategies, you can create legitimate and profitable sources of passive income. 

To start, check out decryptingcrypto.com to find out more!