Bitcoin is a popular currency nowadays. People buy and store it, mine and steal, use it for shopping and gambling, and more. Bitcoin rates, anonymity, and other features are often discussed by professionals and non-specialists. That is why there are multiple myths about Bitcoin and its operations people tend to believe. So, before you make any decisions, you’d better check whether it is myth or fact.
Myth: Bitcoin Transactions Are Completely Anonymous
Bitcoin is valued for being absolutely anonymous which deprives of the chance to be tracked by hackers or lawful institutions. But the fact is that your bitcoin operations leave an imprint in the blockchain and can be tracked down to your wallet. This means you can easily become a victim of a scam, fraudulent operation, or lawful checking.
The only way out is to use a btc mixer like BitMix. this way your coins will get mixed with other deposits and cannot be tracked down to your wallet by anyone. In such a case, you will enhance your personal security and anonymity.
Myth: You Cannot Make Payments with Bitcoin
Some people believe that Bitcoin is only for saving money and depositing your funds into it. But the fact is that many online shops, casinos, and services allow you to pay with Bitcoins. Even more, Bitcoin payments qualify for extra bonuses and discounts. For example, many gambling platforms offer additional welcome packs for customers who deposit with Bitcoins. So, Bitcoin is not only universal but also a beneficial currency.
Myth: Bitcoin Is Commonly Used for Illegal Activities
Many claims that Bitcoin is often used for illegal activities since its operations cannot be traced. Yet, as it was previously explained, financial operations with Bitcoins do have a trace, so that they can be reviewed by lawful institutions. So, it’s not about currency but about regulatory measures that should be responsible for unlawful actions.