It’s easy to understand why a lot of investors ask the question “Is Bitcoin safe?”
Vocal critics of Bitcoin (BTC) range from well-known investors and media talking heads to government officials.
To be sure, Bitcoin and other cryptocurrencies do carry more risk than most other investments. But much of the criticism leveled at Bitcoin is misinformed, misleading, or just plain false.
The problem is that all the public bashing raises doubts in the minds of the average investor who otherwise would put a little money into Bitcoin. And that means forfeiting exposure to the outsized gains Bitcoin and other top cryptocurrencies are likely to have over the next several years.
The tech world has a term for this sort of thing: FUD, which stands for fear, uncertainty, and doubt. Today we’re going to slice through the FUD surrounding Bitcoin.
10 “Is Bitcoin Safe?” Myths Busted
CLAIM NO. 1: “Bitcoin Is a Ponzi Scheme”
This one has dogged Bitcoin for almost its entire…