Cryptocurrencies, which have gained popularity all over the world, have now become an investment tool for many people. However, as with anything, there are some known flaws in these cryptocurrencies. Here is the world’s largest crypto exchange Binance, who wants to clarify this issue, some of the circulating in the industry. disinformation clarified.

The information shared by Binance covers many important issues such as cryptocurrencies that are not considered real and have no value. With this information, folks fear, uncertainty and doubt (FUD) It is intended 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” currencies. Not being supported on Binance is equivalent to 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. Believe in this currency, according to Binance, believe in the existence of states. arises.

The crypto giant emphasizes that the number of people relying on the technology that underpins digital currencies is growing rapidly, while the value is something everyone can see and verify for themselves. from open source code He says he’s coming. For example, it is argued that the element of trust in financial systems can be provided more with blockchain and crypto.

Apart from these, according to Binance, crypto, as in the example of Bitcoin, golden It is becoming more and more preferred every day as a store of value, similar to commodities. It is also stressed that Bitcoin, which is limited to 21 million units, is an asset whose value cannot be reduced by monetary policy. It also adds 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 issued statements about the claims that cryptocurrencies are not real money. By saying that “real money” is reminiscent of the exchange tool and unit of account used in commercial activities, the company emphasizes that there are those who believe that cryptocurrencies are not used in day-to-day transactions. However, contrary to popular belief These applications around the world have already started. case.

Cryptocurrencies are used as “real money” in many countries. We have seen companies 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” demonstrates the falsity of the 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.