Imagine: you open your wallet and see beautiful numbers in BTC, ETH, or even super promising altcoins. But here’s the question: do these coins even exist? Or are they just a set of symbols that we all collectively decided to value?
What does the crypt breathe?
Cryptocurrency is, in essence, code, mathematics, and a lot of hope. It doesn't physically exist, and there's no guarantee that your favorite exchange won't decide to "close shop" tomorrow. Interestingly, this ghostly status doesn't prevent us from valuing these coins more than reliable investments in real assets. Why? Because it's more interesting.
The illusion of possession
When you buy crypto, it seems to you that it belongs only to you. But is it so? Imagine the situation: you store all your assets on a centralized exchange. They are all at your fingertips, but one day one of the regulators decides that your country is no longer worthy of cryptocurrency services. What next?
Your coins remain as records in the database. Accessing them is a matter of luck.
Cryptophantoms and legislators
Lawmakers, of course, are not far behind. They see crypto as the new gold that needs to be controlled. Your property? Forget it. If you don't declare, don't pay taxes, or just breathe towards the state the wrong way, your phantom assets risk turning into phantom income on your tax return.
What to do?
1. Diversify wallets: hold assets on different platforms, ideally on non-custodial ones.
2. Backup plan: Be prepared that both you and the exchange may lose access to your coins tomorrow.
3. Crypto-realism: Remember that coins exist as long as you can use them.
Illusion or future?
Crypto is both a phantom and a revolution. It forces us to rethink the concept of ownership, but it also constantly tests our patience. So if you buy a coin today, remember: it exists only as long as the world agrees with it. And who knows, maybe that's what makes cryptocurrency so attractive?
