Debunking Bitcoin and Crypto Myths – Common Questions

Are Bitcoin and cryptocurrencies legal?

Yes. Now only that, but they count as a taxable asset.

Can Bitcoin disappear one day?

Hypothetically yes. Practically no.

Isn’t Bitcoin used for nefarious activities?

Bitcoin has been used in the past for money laundering or illegal activities. It also has been used as payment for ransomware viruses. However, it’s a tool which can be used for good or bad, like many things. One positive is that it can be used for various charitable causes.