Let’s Talk About FUD for a Minute
You’ve probably come across someone telling you that governments will shut down the crypto market, or that it’s a Ponzi scheme. And just like that pizza slice you left outside the fridge for three days because you were too busy scrolling down your Instagram feed and didn’t even remember that you left it there, everything is downhill from here. It’s what you call FUD — fear, uncertainty, and doubt.
But, let’s face it, who’s telling you this precious information? Possibly, it was someone who doesn’t have a thorough knowledge of the crypto market— someone that repeats everything they just read in their print newspaper. Yes, you know exactly who I’m talking about.
What’s this FUD I keep hearing about?
There’s just too much noise around the crypto market. One day, you wake up and read about some scam. Another day, you hear that no one will ever want to continue trading cryptocurrencies. And yet another day, you came across an article explaining that, apparently, even some Russian scientists were arrested for mining cryptocurrencies.
Or that one of the highest-profile executives on Wall Street, Jamie Dimon, called Bitcoin a fraud, a declaration that opened fire on the cryptocurrency community. But just a few months after his remarks in September, he admitted that blockchain is real and that he regretted calling Bitcoin a fraud.
With all that negativity, it feels like your body is going through puberty, again, and you’ve no clue about what’s going on. It’s no surprise that you might start having cold feet about purchasing, with your savings, a digital currency. But just like bad news is monopolizing the media, articles about people who are still betting for new cryptocurrencies are being published. And those, my friends, are the ones we should be paying attention to.
Cryptocurrency threatens to finish with the government’s monopoly on printed money, and you don’t have to be a smarty-pants to know that governments, especially the big ones, will go after it. That’s why banks are punishing their customers for exchanging their digital money.
Luckily for all of us, not all banks are the same. In March, a Japanese bank will be launching its own cryptocurrency. See, it’s not all bad news, as usual, there’s always light at the end of the tunnel.
We can only finish this blog post quoting the words of the one and only film that taught us about life and death in a traumatic way, The Lion King: “It’s the circle of life, and it moves us all, through despair and hope, through faith and love” (admit it, you also read those words singing them in your head).
So, my fellow crypto-curious readers, we must have faith in the crypto market. It’s a cycle, some new coins are born while others die as fast as your great-aunt Margaret finishes her Martini, but that’s just the way it is. The crypto market won’t die, and you can still buy and exchange your favourite digital currency like there is no tomorrow. Just make sure you use the right platform for it.