Demystifying Cryptocurrency

Why Bitcoin Seems Scary … And Why it Doesn’t Have to Be
Coin Cloud Team
, published on 
August 7, 2020
Demystifying Cryptocurrency

Bitcoin. Digital Currency. Cryptocurrency. Fiat. Altcoins. Halvening. Decentralization.

Are those words scary for you?

For people new to virtual currency, these words can be spooky enough for them to avoid it entirely. But why? What is so scary and confusing about getting into Bitcoin?

Well, like most things, it's usually scary because you have NO idea where to start. What even is “cryptocurrency,” right? You can’t touch it, you can’t smell it, the government has nothing to do with it, and its value is constantly changing. How could anyone keep up?

The Issue with Lingo

We should mention that this stigma surrounding virtual currency isn’t the newcomer’s fault. In fact, the crypto community is partly to blame for this barrier. Self-sabotage, no way, right? Surely they wouldn’t do that intentionally?

Absolutely not. In fact, most digital currency enthusiasts love spilling info, teaching, and spreading news about crypto to anyone who will listen. So, what’s the issue? Well, as much as they love talking about these virtual currencies, they often forget who they’re talking to.

To make this clearer, imagine wanting to get into a new hobby and, excited to try it out, you sign up for a class that promises to teach you the basics. Amazing! But wait, upon arriving you realize something: this class isn’t even being taught in a language you can speak. Every word that comes out of the teacher’s mouth is lost to you. By the time the lecture’s over you’re more confused than before you came.

People in the crypto community often sound like they’re talking in a completely different language. Words like blockchain, decentralization, altcoins, fiat, etc., can be beyond confusing for someone who hasn’t even bought Bitcoin. What’s so frustrating about this is that they’re not even speaking another language! It’s just jargon. With a bit of word definition and consideration for newbies, we could do away with so much of this confusion.

But is it Safe?

Lack of vocabulary isn’t the only reason people are afraid of getting into cryptocurrency, is it? There is something that’s even spookier than big words. That is, getting your money stolen. Yikes. Nothing scarier than that, right? Lots of people avoid the crypto community out of fear for getting scammed. This fear is understandable, because nobody wants to get scammed, but this, like many things is a HUGE misunderstanding. Not only is the nature of digital currency self-protecting, but there are countless people in the crypto community dedicating their time and effort to making sure your virtual coins are safe. No one should have access to your money if you don’t want them to.

Still scary? Ok, what if I told you there was a machine that could magically solve all of these problems and alleviate any of the fears you’ve been feeling about getting into cryptocurrency? That in case there’s ANY room left for confusion, you’d have access to a support team, ready to answer your call? That this machine has a whole team of people dedicating their time to keeping your money safe? And that on top of all of this, the company that owns this machine provides free education about digital currency on their website?

Well, surprise! There is. You’ve used an ATM, right? Buying your first bitcoin could be just as easy, if not easier, than using an ATM.

With a Digital Currency Kiosk, or Bitcoin ATM, you literally only have to do two things:

  1. Download this wallet (to store your Bitcoin)
  2. Go to your nearest Coin Cloud Machine, cash ready

From there, the machine does all the work to verify your identity and you instantly get your Bitcoin. If you’re still scared, you can trade as little as $1 to see how it works. Coin Cloud understands the fears behind getting intro crypto and has dedicated all of its time and money to demystifying it and bringing digital currency to all. Happy purchasing!

Disclaimer: The information and views supplied on the Coin Cloud blog are for educational and entertainment purposes only. We are not financial advisors, so please do your research and consult with a trusted financial specialist before investing your money.

What is Coin Cloud?

Founded in 2014 in Las Vegas, Nevada, Coin Cloud is the leading digital currency machine (DCM) operator. With over 4,500 locations nationwide, in 48 states and Brazil, Coin Cloud operates the world’s largest and fastest-growing network of 100% two-way DCMs, a more advanced version of the Bitcoin ATM. Every Coin Cloud DCM empowers you to quickly and easily buy and sell over 40 cryptocurrency options with cash.

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