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Yet, misconceptions about its security, accessibility and legitimacy persist.
Before you dismiss Bitcoin based on common myths, experts separated fact from fiction about themost well-known cryptocurrency.
Bubbles pop and disappear.
Bitcoin has recovered from drops of 50% or more multiple times and hit new all-time highs afterward.
The smallest fraction is called a satoshi (0.00000001 BTC) after Bitcoins developer Satoshi Nakamoto.
Large institutions hold massive amounts but smaller investors make up a huge part of the market.
Many investors participate withoutdeep technical knowledge.
What is needed is an understanding of basic security best practices to keep your investment safe.
Buying and storing bitcoin is as simple as using a banking app, Franklin said.
The only sense in which bitcoin can be considered not secure is from afinancial protection standpoint, Franklin said.
Unlike traditional banks that offer fraud protection and chargebacks, bitcoin operates on a decentralized, irreversible ledger.
This means users must take full responsibility for securing their funds.
Large financial institutionsnow hold bitcoin and major governments are discussing its regulation.
A fad fades when interest dies out.
Adoption keeps increasing and bitcoin continues to integrate into mainstream finance.
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