Are you missing out on financial opportunities in the fast-paced world of crypto investments? Common myths and misconceptions can lead to costly mistakes. At CCI, we are dedicated to providing accurate information and education to help you succeed.
Our leading role in identifying the costs of incorrect assumptions gives us unique insight into the world of crypto investments. By debunking myths and providing accurate information, we help you avoid financial losses and achieve your investment goals.
Stay ahead with CCI’s expert guidance and education. Our team is committed to providing the most up-to-date information and strategies for successful investment in crypto.
Don’t let common myths and misconceptions hold you back.
Here are Five common misconceptions that we know you’ll find valuable…
1. Crypto is a poor investment because no one believes in it.
The mainstream media often presents MISLEADING and FALSE headlines about Bitcoin, adding confusion for investors in the complex cryptocurrency industry. Despite being declared dead 471 times and counting, Bitcoin continues to THRIVE.
Some of the world’s top investors, including Jack Dorsey, Elon Musk, Bill Gates, and Paul Tudor Jones, ADVOCATE for digital currencies.
Leading companies such as Berkshire Hathaway, JP Morgan Chase, PayPal, Grayscale, Paypal, and Square are also INVESTING in digital currencies and blockchain technology.
Don’t let the NOISE distract you – become part of the 1% of informed investors who understand the seismic shift happening in finance.
Stay ahead of the game by learning about the UNPRECEDENTED GROWTH in digital currencies and how to make money from it.
Our experts have helped hundreds of clients navigate the crypto waters and make informed investment decisions. Join the DIGITAL CURRENCY REVOLUTION and make your financial future a success.
2. Bitcoin is the ONLY coin worth holding
HARD-CORE MAXIMALISTS believe that everything apart from Bitcoin is a “Shitcoin” & see it as the only legitimate form of digital currency. They think others are there to just earn more Bitcoin.
It’s for you to decide, but it’s crucial to keep an OPEN MIND. Although not all projects are equal, there is room for multiple winners in this space. While Bitcoin is the original, it has limitations. That’s why we see other coins that aim to address their weaknesses and solve real-world problems. Ethereum, ADA, Neo, & EOS, for instance, use blockchain to layer software.
With our help, you can identify these BIG OPPORTUNITIES. Bitcoin is up 390% since March while Ethereum is up almost 500%. Being closed-minded could limit potential returns. Bitcoin’s potential gains may be lower compared to smaller market cap tokens. As a client, you’ll identify different cryptos, what makes them UNIQUE, and their inherent value. Do your research & due diligence, but we’re here to help & support you with our blueprint & step-by-step strategies
3. I only worry about taxes when I sell my Crypto for fiat currencies
If you’re trading cryptocurrency, be aware that every time you trade one cryptocurrency for another, it counts as a taxable event. Ignoring this fact could cost you big money down the road, even if you’re not aware of the taxes you owe.
While it’s frustrating to track every purchase you make, it’s essential to stay on top of your tax liabilities. Reputable exchanges usually have a transaction log that you can send to your accountant. The Australian Taxation Office (ATO) also has a landing page dedicated to crypto taxation, which is worth checking out.
At our company, we understand the importance of managing crypto taxation. That’s why we’ve partnered with a leading crypto tax expert who can provide an in-depth document and help you understand your tax liabilities. By staying informed and working with experts, you can avoid costly mistakes and keep your crypto portfolio in good standing.
Always Remember! Any time you trade your cryptocurrency for another cryptocurrency it is a taxable event.
Remember, it’s always better to be proactive than reactive when it comes to taxes. Don’t fall into the trap of assuming that cryptocurrency trades are tax-free. Stay informed, stay organised, and work with experts to keep your finances in order.
4. BTC has no use case
Wrong. Bitcoin has proven to have multiple strong use cases that cannot be easily dismissed. To fully understand the impact of cryptocurrency, it’s essential to stay up-to-date on both internal and external factors that affect the market.
The current global landscape, including events such as Coronavirus, Brexit, Hong Kong, Lebanon, negative interest rates, and endless money printing, all point towards the need for a decentralised digital currency that is immune to economic instability.
At our company, we cover these events in detail to provide our clients with the best possible edge in the market. With the race to devalue currencies, the need for a deflationary store of value that is global, fast, and accessible to anyone with a smartphone has never been more critical.
As banks introduce negative interest rates and governments restrict cash withdrawals, it’s only a matter of time before the financial powder keg ignites. Many of our clients who have been through the GFC understand the importance of positioning themselves strategically for what’s about to happen next.
By staying informed and working with experts, you can prepare yourself for the coming storm and ensure that your finances are protected. Bitcoin and other cryptocurrencies offer a viable solution to the challenges facing traditional fiat currencies, making them an attractive option for investors looking to navigate an uncertain global market.
5. Only criminals use crypto – Crypto is bad!
One of the most common misconceptions about Bitcoin is that it is primarily used for criminal activity. This misconception can lead to missed opportunities and lost money due to fear of investing in cryptocurrency.
One of the most common misconceptions about Bitcoin is that it is primarily used for criminal activity. This misconception can lead to missed opportunities and lost money due to fear of investing in cryptocurrency.
However, the data shows that this is not the case. According to a leading blockchain research firm, Chainanalysis, fiat currencies are used 800 times more than Bitcoin to launder money. In fact, as of 2018, BTC only accounted for 1% of illicit activity on the dark web.
While it is true that Forbes has reported that Bitcoin accounts for 72 billion dollars worth of criminal activity per year, this is a small fraction when compared to the role traditional currencies play in illegal activities.
A report has documented that 80% of all US Dollars in circulation contain trace amounts of cocaine, indicating that the drug trade through much of the Americas uses the US dollar due to its anonymous nature.
In contrast, all Bitcoin transactions are immutable and recorded on the ledger, which poses obvious problems for criminals using it for clandestine activities. Compared to largely untraceable paper bills, Bitcoin’s traceability is a significant advantage in the fight against criminal activity.
It is important to separate fact from fiction when it comes to Bitcoin and other cryptocurrencies. While there may be some instances of illegal activity, the data clearly shows that traditional currencies are used far more frequently for criminal purposes.
By understanding the facts, you can make informed decisions about investing in cryptocurrency without fear of being associated with illegal activities.
Have you been sitting on the sidelines letting fear and the media control your decisions?
To learn how we have shown hundreds of sophisticated investors enter this space SAFELY and SECURELY…
and how to POWERFULLY and SUCCESSFULLY approach the BEST PERFORMING ASSET CLASS OF ALL TIME…
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Joe Shew
Founder & CEO of Crypto Consulting Institute
Sam McDonald
Head Analyst
