The world’s largest cryptocurrency exchange, Binance, shared the misconceptions about cryptocurrencies. The statement clarified many important issues such as the value of digital assets and the fact that cryptocurrencies are not considered real money.
Cryptocurrencies, which have become popular all over the world, have now become an investment tool for many people. However, as with everything, there are some well-known mistakes in these cryptocurrencies. Here is the world’s largest crypto exchange Binance, which wants to clarify this issue, some of the circulating in the industry. misinformation clarified.
The information shared by Binance touches on many important issues, such as cryptocurrencies are not considered real, not considered to have any value. With this information, people fear, uncertainty and doubt (FUD) It is aimed to prevent bias against digital assets.
Value of digital assets
Those new to crypto can often argue that most digital assets, with the exception of stablecoins, are not backed by real “fiat” currency. Not being supported on Binance is equated with having no value. biggest mistake states that it is. In this context, currencies such as the US dollar and the British pound are cited as examples by powerful states. Belief in these currencies, according to Binance, belief in the existence of states. originates.
The crypto giant emphasizes that the number of people trusting the technology underlying digital currencies is growing rapidly, while the value is something anyone can view and verify on their own. from open source code He says he’s coming. In this way, it is stated that the element of trust in financial systems can be provided more with blockchain and crypto.
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Apart from these, according to Binance, crypto, like in the example of Bitcoin, golden It is preferred more and more every day as a store of value similar to commodities. It is also underlined that Bitcoin, which is limited to 21 million units, is an asset whose value cannot be reduced by monetary policies. It is also added that crypto has an unlimited number of uses, from digital art to new financial products.
The claim that crypto is not real money
Binance also made statements about the claims that cryptocurrencies are not real money. Saying that “real money” brings to mind the exchange tool and unit of account used in commercial activities, the company emphasizes that there are people who believe that cryptocurrencies are not used in daily transactions. However, contrary to popular belief These applications around the world have already started. case.
Cryptocurrencies have begun to be used as “real money” in many countries. We have seen businesses from different industries identify cryptocurrencies as a means of payment. Even Bitcoin like El Salvador official currency There were even countries that declared
Here is Binance, thanks to the integration of crypto into traditional payment systems in recent years. that you can spend your crypto on products, services and apps saying, “not real money” shows the falsehood of claims. Finally, the company, which serves its users with the crypto payment technology Binance Pay, adds that crypto is one of the most important financial arguments of the near future.