Are Cryptocurrencies Truly Decentralized?
The short answer is some are and some aren't. There isn't a definitive answer since it varies per currency. The reason is that even though the currency itself is decentralized, the way it works runs, and attracts investments/grows may not be.
Bitcoin for example is 100% decentralized, Binance coin can arguably be called centralized in certain aspects. (my opinion)
So when you are researching cryptocurrencies, don't fall into the trap of thinking everything is decentralized, as not all currencies truly are.
Do your research, figure out if you are ok with some level of centralization or none. There are benefits to both sides, you can pick what you like.
I just want to provide this info for any newcomers or people who may not know this!
Cheers and always do your research!
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