June 16, 2024

Image for article titled The 7 biggest cryptocurrency myths

Illustration: Dado Ruvic (Reuters)

Cryptocurrency is based on new technology, and many people do not understand it. As a result, they may mistakenly believe that it is money used by criminals and fraudsters.

But that is not true. Bitcoin is the most secure form of digital currency and was created to establish a decentralized digital currency free from the control of governments and central banks.

Moreover, fraud, scams, ponzi schemes, money laundering, bribery, illicit financing, and corruption have been prevalent in every society for ages. Cash, which cannot be traced, remains the most popular method for illegal services and goods, not cryptocurrency.

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