When it comes to crypto investing, there are more misconceptions going around than truths. Unfortunately, there are so many fake information sources available that it is very difficult to find the truth. If you want to be a part of the digital asset market and make really smart investments, you need to first avoid misconceptions, especially the really common ones below.
Bitcoin Is The Same Thing As Blockchain
This misconception appeared because Bitcoin was the very first technology developed with the use of the blockchain. However, it is definitely not the very last one. Simply put, blockchain technology is quickly growing and it keeps finding brand new industries where it can be used.
The truth is blockchain has numerous applications. In the future, there will be so many others that we do not even think about right now. Besides cryptocurrency, blockchain technology is used in real-life impacting applications in healthcare, property, government and finance.
Special Knowledge Is Needed To Purchase Cryptocurrencies
We are talking about investments so you have to be completely cautious. However, you do not need to be extremely technology savvy to make a good investment. Nowadays, buying cryptocurrency is really similar to buying any other asset that you find on the internet. Just a few clicks are needed for purchases.
You Cannot Invest Because You Cannot Buy 1 Bitcoin
One Bitcoin costs a lot of money for most people. Due to this, most people think that they cannot make a financial investment in this industry. In reality, most tokens and cryptocurrencies are broken down into many fractional parts. You can easily buy and even sell as much as you want from the cryptocurrency.
The smallest Bitcoin unit is named satoshi. It practically has the value of one hundred millionth of 1 BTC. Due to this thing, you can easily invest as much as you want, even if it is just one dollar.
It Is Too Late To Invest In Cryptocurrencies
Even if cryptocurrencies have existed for 10 years, we are still looking at an industry that is in an infancy stage. Just like the traditional financial markets, all prices fluctuate. You need to invest at the right time to make the most possible money. It is not too late to invest in cryptocurrencies. In fact, it is a great time to do so since more and more people from all around the world start to use digital assets.
Cryptocurrency Investments Are Just Speculations
Way too many believe that crypto investments are all about making a really quick profit and make price speculations. This is not actually the case. The early crypto adopters did manage to accumulate huge wealth. This is especially the case following the 2017 bull run. However, the ship did not sail.
Crypto investment is all about making long-term decisions that are going to offer a great profit a long time from now. A new bull run will soon come and you can be a part of it. Just do not think that crypto investments revolve around making money really fast since this is completely incorrect.