Myths People Believe About Cryptocurrencies

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Many people stop investing in crypto for fear of losing money. On the one hand, this fear makes sense, but it also ends up limiting your investments and profit opportunities.

So, these people focus their attention much more on the possibilities of loss than on the gains. So today we are going to talk about some myths that people still believe about cryptocurrencies and how it limits their financial possibilities.

If you don’t have a financial reserve, yes, you should worry about losing money on cryptocurrencies

Many people, especially younger ones, understood the crypto market as a unique opportunity to become millionaires overnight.

It is true that this happened to some people during the development of cryptos, but this is not the rule, it is the exception. So, it is not right to place all your hopes and efforts to become a millionaire on the crypto market alone.

This attitude, in addition to generating anxiety, ends up being very risky, especially when you don’t have a financial reserve and don’t have your bills up to date.

Before you start investing in cryptocurrencies, get organized to set up your financial reserve and get your financial life in order. That way, you will be able to invest in cryptos more safely.

Cryptocurrencies are variable income, just like stocks!

As we said at the beginning of the text, many people are terrified of losing any penny in investments. This just means that these people have a conservative investor profile and that fixed income investments are the most suitable for them.

In summary, there are two main types of investments. Investments in fixed and variable income. In fixed income, you can have a more accurate forecast of your financial returns and how long this will take place.

Already in variable income, returns are as its name, they can be variable according to what is happening in the market today. Therefore, investing in cryptocurrencies or stocks requires a somewhat bolder investor profile.

This person must be able to tolerate some risks and temporary losses, aiming for a medium and long term goal. In addition, you should study a lot where you will invest your money and how to compose your investment portfolio.

So don’t believe so much in the news you read about the end of cryptocurrencies

Bitcoin is considered the first cryptocurrency and emerged in 2008. Over the course of the project, it has been considered dead at least 432 times.

Because it is a “new” market, cryptocurrencies still scare many people and cause doubts in many others. Cryptocurrencies are always developing and every day there are news about them.

The disruption and innovation that cryptocurrencies have brought to the financial market is undeniable and this causes a lot of discomfort in business models that profit from being intermediaries between people and money.

This market is still gaining steam and consolidating its structures in the world and that is why there is a lot of news about ups and downs involving cryptocurrencies. So, to invest in cryptocurrencies, you need to be aware of this aspect and shield yourself from negative news.

And finally, the right time to invest in crypto is now!

Some people are no longer interested in investing in cryptos because they believe that they have “missed the train” of the market and now is no longer the opportune time to start investing.

Other people, on the other hand, get caught up in the market news day after day waiting for a “green light” that now is the right time to invest in cryptocurrencies.

As we mentioned earlier, the crypto market fluctuates from time to time due to its variable income nature and also design innovation. In other words, the right time to start investing does not exist.

If you search about it, you will hardly find news talking about new investment possibilities…

Meanwhile, we are already used to reading a lot more about crises and negative situations that happen in the world, so we have the feeling that it is never the right time to step out of our comfort zone and do something we really want, like start investing in cryptos. .

Did you like today’s text? Leave your opinion or question here in the comments and let’s talk!

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