Bitcoin has been called everything from magic internet money to an environmental disaster. Let’s cut through the noise and tackle some of the most common myths.

Myth 1: Bitcoin is Anonymous

Not exactly. Bitcoin is pseudonymous. Every transaction is recorded on a public ledger. If someone links your address to your identity, your activity becomes traceable.

Myth 2: Bitcoin Has No Real Value

Value doesn’t come from governments – it comes from what people are willing to exchange it for. Bitcoin’s value is backed by its limited supply, utility, and growing adoption. Just like gold, it doesn’t need a central issuer to matter.

Myth 3: Bitcoin is Bad for the Environment

Bitcoin mining uses energy, yes – but increasingly from renewable sources. Also, comparing it to traditional banking or gold mining shows it’s far more efficient in many cases.

Myth 4: Bitcoin Is Only Used by Criminals

Less than 1% of crypto activity is linked to illegal activity – and cash is still the #1 tool for crime. The blockchain is open and traceable, which actually makes it a poor choice for serious criminals.

Myth 5: It’s Too Late to Get In

Heard that one before? Bitcoin has been declared “dead” hundreds of times. Whether you’re new or experienced, learning and entering gradually is still very much an option.