The truth about cryptocurrencies isn’t nearly as exciting as all the myths surrounding them. While there are undoubtedly opportunities to make money, the cryptocurrency world isn’t what it’s cracked up to be. There are no crypto magic tricks to get rich overnight, and you definitely shouldn’t invest more than you can afford to lose. This article takes an objective look at what’s real and what’s not in the world of cryptocurrency, to help clarify some of the most common crypto myths.
While some countries such as Canada and the United States have a crypto-friendly attitude, only one country has yet taken that ultimate step and made cryptocurrency a legal tender status, El Salvador. President Nayib Bukele passed a proposal to adopt Bitcoin as a formal payment and, in June 2021, Congress approved it.