Digital Currency Investment Expert Richard Iamunno Debunks 5 Myths About Crypto
A few years ago, the idea of cryptocurrency was confusing to many, and it seemed like investing in the crypto sector required literacy in a secret financial language. Thankfully, crypto isn’t tough to understand. Here, crypto investment pro Richard Iamunno is busting myths about crypto that can help boost your confidence when you decide to invest in crypto.
Myth #1: Investing in crypto is only for people who are good with tech.
We know–the idea of investing in crypto can be scary, especially if you’re not familiar with the terms or platforms you’ll use to manage your investments. If you’re able to order a product online, you’re able to understand cryptocurrency investments. It takes just a couple of clicks to make a solid cryptocurrency investment, according to Richard Iamunno, and most crypto investment platforms are user-friendly and offer an easy-to-follow process from start to finish.
Myth #2: Crypto only works in certain industries.
Some people are hesitant to invest in crypto due to the misconception that the currency only works within certain industries, but this idea is quickly proving untrue. Many large banks are investing in cryptocurrency, as are companies in a wide variety of sectors. Diversifying your investments is a smart move, and as more companies jump on the crypto bandwagon, it’s going to become easier to vary your crypto investments.
Myth #3: Crypto investing is unreliable.
Like any investment, crypto investments fluctuate. Day trading isn’t recommended for crypto, however. When you invest in crypto, you’re playing the long game, and you don’t need to constantly stay on top of the ups and downs of the market. Keep a distance from your investments. Watching from afar gives you the chance to see the big picture, allowing your money to work for you instead of making you fret about the ups and downs of the market. Take it slow when it comes to selling your investments, and keep an eye on wide trends instead of day-to-day fluctuations.
Myth #4: Crypto is anonymous.
We’re sorry to bust this popular myth, as many people enjoy the idea that crypto investments are completely private. Once upon a time, cryptocurrency only existed on the dark web and was virtually untraceable. Now that cryptocurrency trading and investing have become more mainstream, this isn’t the case. Today, your investments can be tracked by authorities, even if this wasn’t the case for your investments in the past.
Myth #5: Crypto is used for shady activities.
Less than .05% of all crypto activities in 2020 were proven to be illicit. All types of investments can be used for illegal activity, and crypto is not immune. That being said, the anonymity that crypto had in the past gave the currency a bad rap. Rest assured, crypto is an acceptable way to donate to charity and make legit transactions.
About Richard Iamunno
Richard Iamunno is the CEO of Atlantic International Capital Digital Assets Group, where he serves as the leader of a team that helps companies reach maximum growth capital. Iamunno is known for his dedication to helping individuals with high net worth build their investment portfolios with cryptocurrency. With more than three decades of investment experience as a leader in the boutique investment industry, clients and companies trust Iamunno to stay on top of the latest ways to maximize investments.