EFX - Equifax Inc.

NYSE - Nasdaq Real Time Price. Currency in USD
125.70
+0.24 (+0.19%)
At close: 4:02PM EDT
Stock chart is not supported by your current browser
Previous Close125.46
Open125.39
Bid125.76 x 800
Ask125.77 x 800
Day's Range124.79 - 126.02
52 Week Range88.68 - 138.69
Volume497,196
Avg. Volume998,179
Market Cap15.256B
Beta (3Y Monthly)1.47
PE Ratio (TTM)50.89
EPS (TTM)2.47
Earnings DateApr 23, 2019 - Apr 29, 2019
Forward Dividend & Yield1.56 (1.32%)
Ex-Dividend Date2019-03-11
1y Target Est118.43
Trade prices are not sourced from all markets
  • Cramer: Warren is going about executive liability bill the wrong way
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  • Equifax and FICO team up to sell consumer data to banks
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  • PR Newswireyesterday

    Equifax among top 50 in 'FinTech Leaders 2019' ecosystem rankings

    ATLANTA, April 18, 2019 /PRNewswire/ -- Equifax, a global data, analytics and technology company, are among the top 50 within the Center for Financial Professionals (CeFPro) FinTech Leaders Report 2019. The report is industry-led research with independent insight from CeFPro's specialized FinTech Advisory Board comprised of more than 60 experts.

  • Analysts Estimate Equifax (EFX) to Report a Decline in Earnings: What to Look Out for
    Zacks2 days ago

    Analysts Estimate Equifax (EFX) to Report a Decline in Earnings: What to Look Out for

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  • PR Newswire3 days ago

    Leading CMOs gain $4 for every dollar invested in marketing measurement

    2019 study commissioned by Equifax finds companies with highest measurement maturity generate more than $73 million in additional annual revenue, among other business benefits ATLANTA , April 16, 2019 ...

  • Reuters4 days ago

    MOVES-Stone Harbor, Equifax, State Street

    The following financial services industry appointments were announced on Monday. To inform us of other job changes, email moves@thomsonreuters.com. STONE HARBOR INVESTMENT PARTNERS LP The investment manager ...

  • Reuters4 days ago

    MOVES-Equifax ropes in Tony Banks as vice president of UK, Ireland operations

    Credit reporting company Equifax Inc said on Monday it has appointed Tony Banks as vice-president of operations for the UK and Ireland. Banks previously worked at the Royal Bank of Scotland Group PLC. ...

  • Fico vs. Experian vs. Equifax: What's the Difference?
    Investopedia5 days ago

    Fico vs. Experian vs. Equifax: What's the Difference?

    FICO, Experian, and Equifax all provide information about a borrower's credit history, however, important differences exist between the three companies.

  • 9 Best Dividend Stocks to Buy for Every Investor
    InvestorPlace9 days ago

    9 Best Dividend Stocks to Buy for Every Investor

    [Editor's Note: This story was previously published in February 2019. It has since been updated and republished.]No matter where we are in the cycle, it's always good to remind ourselves of what worked and what didn't. In 2017 Wall Street forecasted a rough year but ended with quite the opposite happening. Benchmark indices hit all-time records, while most sectors witnessed tremendous optimism. In 2018, the long-running bull market took a breather as investors switched from risk-on to risk-off. Occasionally, inferior investment strategies are masked by secular bullishness.2019 may not be as forgiving, which is why I'm recommending investors to get selective. Fortunately, with dividend stocks, you don't have to feel pressured into always picking winners.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAt its core, choosing the right dividend stocks to buy is about options. Although picking high-flying growth companies is a sexier endeavor, it isn't always the smartest. With passive-income yielding firms, you get the potential for making capital gains, and also residual payouts to bolster your position. During a down period, dividends can also help you ride out the storm. * 10 Dow Jones Stocks Holding the Blue Chip Index Back But don't mistake these yields as "boring" strategies. Like any investment class, you can dial up the risk for the chance of greater rewards. This is why picking the most appropriate dividends stocks to buy is so important: no one knows your investment style better than you!The following ideas are broken down into three sections: stable, mid-level and high-yield (speculative). Each section has something to offer, depending on how much risk you're willing to take.Source: Shutterstock Johnson & Johnson (JNJ)Current Dividend Yield: 2.65%If you love stable dividend stocks, you love Johnson & Johnson (NYSE:JNJ). It is the powerhouse brands of powerhouse brands. Better yet, JNJ is levered toward the ultimate in secular industries: healthcare. Separated among consumer-level products, pharmaceuticals, and medical devices, JNJ is one of the most respected companies in the world.Currently, Johnson & Johnson's dividend yield is 2.65%. But what people may not immediately appreciate is that JNJ can also surprise people in the capital markets. For instance, year-to-date, shares are up nearly 6.3%.Critically for the conservative investor, JNJ rarely loses. Between 1970 to the end of 2018, annual returns average almost 15%. Moreover, JNJ only hit red ink 14 times, meaning that 72% of the time, you can expect shares to win.In our business, that's as close to a sure thing as you're gonna get!Source: Shutterstock Wells Fargo & Co (WFC)Current Dividend Yield: 3.74%I'll admit that I wasn't thrilled about putting Wells Fargo & Co (NYSE:WFC) into my dividend stocks to buy list. You'll recall that WFC was embroiled in a major controversy that shocked the entire financial and business community. Essentially, the banking giant admitted to creating more than two million fake accounts to meet ambitious sales targets.It made me sick and I'm not the only one. But eventually, people get over this stuff, perhaps resigned to the fact that the major conglomerates always win. I even made the argument that Equifax Inc (NYSE:EFX) -- yes, that Equifax -- would be forgiven.As cynical as it may sound, what good will being angry do for any of us? Today Equifax is just around 10 percent of pre-scandal highs and Wells Fargo just about 17% off and climbing back. * 8 Risky Stocks to Watch as Earnings Season Kicks Off It stinks that the ultra-rich get away with bloody murder. From a financial perspective, though, WFC is an opportunity. It's slowly making recovery inroads. Most important, WFC spits out the biggest dividend yield among the "big four" at more than 3.7%. That may be the price of forgiveness!Source: Shutterstock Exxon Mobil Corporation (XOM)Current Dividend Yield: 4.01%Again, on the surface level, Exxon Mobil Corporation (NYSE:XOM) is a strange name to put on a "best dividend stocks" list. Energy is hardly the most consistent sector. More to the point, XOM has been on the wrong end of a market shake-up. Since the oil collapse of 2014, XOM has at best been treading water against prior highs.But the flip side to this bearish argument is that in practical ways, energy is the most consistent sector possible. When people hit the switch, they expect the lights to turn on. Similarly, when they go to the gasoline station, they expect to fill their tanks. Without XOM and its ilk, none of these things would occur. A societal breakdown could commence.In all seriousness, investors should be encouraged by Exxon Mobil's response to the oil market downturn. They and the remaining survivors have revamped their operations and rid themselves of unproductive assets. Today, XOM and the oil community are leaner, meaner, and better prepared for whatever lies ahead.In other words, XOM has proven its resilience adding another 17% since the beginning of the year. As a conservative investor, you can buy that 4.01% yield with confidence.Source: Shutterstock Duke Energy Corp (DUK)Current Dividend Yield: 4.09%If you're a real numbers guy, you'll want to pay attention to Duke Energy Corp (NYSE:DUK). Based on a quantitative model that our own Louis Navellier developed, DUK is one of the best dividend stocks to buy right now. Mixing in commonly-used metrics (ie. earnings momentum) as well propriety methods, DUK appears primed for a stellar new year.I prefer to keep it simple if there's no real need to complicate things. Here's what I'm looking at: Since the tech bubble and the 2008 financial crisis, DUK has steadily rewarded investors with few hiccups. This year, DUK is set to return more than 13% should its technical momentum hold. * 7 High-Risk Stocks With Big Potential Rewards All indications suggest that Duke Energy can keep the good times flowing into next year. As it stands, the company is the seventh-largest electric utility company in the U.S. Furthermore, management has retired many of its coal power plants, instead focusing on natural gas and cleaner energy sources.Currently, DUK stock yields slightly more than 4%. Although slightly riskier than your conservative dividend play, Duke Energy has the right balance between stability and income.Source: Mike Mozart via Flickr AT&T Inc. (T)Current Dividend Yield: 6.39%I have to say that AT&T Inc. (NYSE:T) disappointed me this year in the capital markets. Typically, AT&T is like clockwork, more often than not, you know what you're getting. This year was the anomaly. T stock dropped like a rock last year but struggled back to recover most of its losses. Currently it's down about 13% and more than 17% from recent lows.Keep in mind that between 1984 through 2016, AT&T's annual returns average more than 13%. During this time, T stock has only lost eight times out of 33. AT&T is a winner almost 75% of the time.Like the aforementioned JNJ, at this rate, T stock is practically a sure thing. The only difference is the reward. AT&T offers a whopping 6.39% dividend yield!Source: sima dimitric via Flickr Welltower Inc (WELL)Current Dividend Yield: 4.55%I cannot wait for the current batch of young millennials to turn 40. Each generation has its fair share of youthful idiocy; however, I think millennials, particularly those in their mid-twenties, take the cake. The way that so many of them conduct themselves, you'd think that they honestly believe they will never age.The news flash that everyone else knows instinctively is that time stops for no one. With that harsh reality in mind, I bring to you Welltower (NYSE:WELL). WELL stock is a real estate investment trust specializing in senior care and facilities. Even if you're one of the young millennials that sees no use for Welltower, you still might put your parents into one of their centers. * 10 Medical Marijuana Stocks to Cure Your Portfolio Joking aside, I can think of no other business where revenues are virtually guaranteed, save for a funeral home. Although Welltower's market performance has been a little choppy, in the long haul, Welltower has been a steady investment.Of course, we can't forget the dividend yields, which for WELL stands at 4.55%.Source: Shutterstock Blackstone Group LP (BX)Current Dividend Yield: 7.06%Moving on to the speculative side of dividend stocks, we have Blackstone Group LP (NYSE:BX). If you were to simply assess BX based on this year's performance alone, Blackstone wouldn't seem at all risky. On a YTD basis, BX gained nearly 14%, making it a solid performer.Typically, strong capital returns and high yields don't go together. With a dividend yield of 7.06%, Blackstone's passive income is right around the same as an average mutual fund. So what gives?Let's just say that BX will probably never make the list of best "feel good" stocks. The financial firm has been involved in a number of controversies, ranging from scandalous real-estate practices to shadow banking. It's really one of those profit-at-all=costs kind of companies. But hey, who said Wall Street was a friendly place?Source: Shutterstock Kimco Realty Corp (KIM)Current Dividend Yield: 6.11%I will tell you straight up that anything involving brick-and-mortar retail is a risky game. Earlier this year, I cautioned my readers about investing in retail REITs. With overall declining foot-traffic, the physical retail space doesn't have the appeal it once did. Of course, the most important factor is ecommerce. Why sit in traffic and wait in lines when you can shop conveniently at Amazon.com, Inc. (NASDAQ:AMZN)?The flip side to this argument is that there are some retail sectors that Amazon has troubleousting. For instance, most people find it more convenient to size their clothing at a physical apparel shop than guessing online. In addition, some store brands offer better pricing or a better experience than Amazon. Think Wal-Mart (NYSE:WMT), Costco (NASDAQ:COST) and Best Buy (NYSE:BBY). * 7 Biometric Stocks to Watch as AI Rises A retail REIT that focuses on strong brands just might have a chance, hence Kimco (NYSE:KIM). KIM features multiple properties running highly demanded store brands. Moreover, a good chunk of their properties are located in lucrative markets.Will it be enough to overcome the risk to the entire sector? I'm not so sure, which helps explain Kimco's 6.11% dividend yield. If you're a believer, KIM stock gives you a solid opportunity.Source: Anders Jilden via Unsplash Sotherly Hotels Inc (SOHO)Current Dividend Yield: 7.35%Thanks to the abundance of consumer-level technologies, traditional industries face obsolescence. A decade ago, if you needed to go to the airport, you essentially had to call a cab. Now, with ride-sharing apps like Uber or Lyft, you can request a similar service conveniently through your smartphone.A similar upheaval may occur in the hotel industry, thanks to apps like Airbnb. To survive in this rough-and-tumble sector, you need a fresh approach. Sotherly Hotels (NASDAQ:SOHO) just might have the magic formula. Centered largely in the southern region of the U.S., SOHO provides an authentic, unique experience for its guests.Apparently, most millennials want brands to be more authentic, and that fits SOHO to a T. Visit any of their locations, and you feel like a welcomed member of a community, not some room number. Plus, former NFL star Herschel Walker sits on the board of directors. That's just downright awesome!But will any of this matter for investors? Again, it's a tough call given so many changes in the hospitality and services sector. Still, with a 7.35% dividend yield, SOHO is worth a second look.As of this writing, Josh Enomoto did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 5 Machine-Learning Stocks to Buy for a Smarter Portfolio * 10 Stocks to Sell in February * 10 Triple-A Stocks to Buy in February Compare Brokers The post 9 Best Dividend Stocks to Buy for Every Investor appeared first on InvestorPlace.

  • PR Newswire9 days ago

    Equifax announces new chief human resources officer

    ATLANTA, April 10, 2019 /PRNewswire/ -- Equifax Inc. (NYSE: EFX) has named Carla J. Chaney as its new Chief Human Resources Officer, replacing Coretha M. Rushing who is retiring after 13 years with the company. Chaney is a human resources leader with more than 20 years of experience and joins Equifax from Graphic Packaging International where she served as executive vice president of human resources and communications.

  • Canadian regulator says Equifax fell short of privacy compliance
    Reuters10 days ago

    Canadian regulator says Equifax fell short of privacy compliance

    "Given the vast amounts of highly sensitive personal information Equifax holds...it was completely unacceptable to find such significant shortcomings in the company's privacy and security practices," said Daniel Therrien, the privacy commissioner of Canada. The agency said Equifax Canada has entered into a compliance agreement to address these concerns and will submit third-party audit reports on its own security and that of its parent to the OPC every two years for the next six years.

  • PR Newswire10 days ago

    Equifax and Credit Bureau Connection team up to provide soft credit inquiry checks to auto dealers and lenders

    ATLANTA, April 9, 2019 /PRNewswire/ -- Equifax and Credit Bureau Connection (CBC) are teaming up to offer auto dealers and lenders the ability to empower consumers with credit information with no impact to their credit scores during their initial car-buying journey. Empowering car shoppers with credit information earlier in the shopping process has been found to be critically important for consumers, lenders and dealers.

  • PR Newswire11 days ago

    Equifax Insight Score™ for Personal Loans empowers FinTech lenders to approve a full spectrum of consumer loans

    New credit score optimized for personal loan originations combines alternative data, AI, trended consumer credit data and more to help lenders expand credit offers ATLANTA , April 8, 2019 /PRNewswire/ ...

  • Here’s What Hedge Funds Think About Equifax Inc. (EFX)
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    Like everyone else, elite investors make mistakes. Some of their top consensus picks, such as Amazon, Facebook and Alibaba, have not done well in Q4 due to various reasons. Nevertheless, the data show elite investors' consensus picks have done well on average over the long-term. The top 15 S&P 500 stocks among hedge funds at […]

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  • Equifax Inc. (NYSE:EFX) Has A ROE Of 9.7%
    Simply Wall St.17 days ago

    Equifax Inc. (NYSE:EFX) Has A ROE Of 9.7%

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  • Equifax Stock Investors Are Still Paying For 2017 Data Breach
    InvestorPlace21 days ago

    Equifax Stock Investors Are Still Paying For 2017 Data Breach

    The last year has seen Facebook (NASDAQ:FB) and Alphabet's (NASDAQ:GOOGL) Google come under fire for various transgressions involving sale of private information to businesses. But that cottage industry got its start more than 100 years ago, pioneered by predecessor companies of Equifax (NYSE:EFX).Source: Shutterstock If you're scared of Facebook and Google sharing your search history with advertisers, you're looking in the wrong direction. Equifax is much more dangerous, it remains less secure, and it's not as good an investment. Over the past 12 months, EFX stock has lost about 1% while the S&P 500 index gained 6.23%.Equifax was founded in 1899 to pool information on bad debtors so small businesses wouldn't get burned extending credit to them. That is still its business. It now has a market cap of just over $14 billion, and about $3.4 billion in annual revenue, on which it made about $300 million in net income last year and paid out $1.56 per share in dividends. The shares closed yesterday just below $117.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Hacker TargetThis week brought news that Equifax's credit reports are now going into what the company calls a Data Decision Cloud, to be run in partnership with Fair Isaac (NYSE:FICO) and aimed at helping businesses manage credit risks. * 7 Reasons to Buy Housing Stocks in 2019 If I were a hacker, this would be the cloud to set my sites on, as it would seem to contain the keys to identity theft and help a hacker decide whose identity to steal. The announcement is meant to show how Equifax's cloud better serves banks and business customers.New CEO Marc Begor, formerly with General Electric (NYSE:GE), and chief technology officer Bryson Koehler, recruited from International Business Machines (NYSE:IBM), are now spending $300 million per year, moving data off mainframes onto public clouds, like the one Alphabet sells.The former headquarters, where Equifax once housed huge IBM mainframes, is now an arts school. No Mention of SecurityThe Data Decision Cloud announcement says nothing about security.Since its 2017 data breach, which exposed the data of 145 million Americans over the course of two months, Equifax has been insisting its problems are fixed and everything is OK. The scandal initially sent the stock down 20%, but its dividend has remained stable, and revenue has slowly kept climbing. A year after the Cambridge Analytica breach was revealed, FB stock remained 10% below pre-scandal levels.Equifax created a "free" service after the breach, called TrustedID Premier, whose sign-up included language taking away consumers' rights to sue it. It then offered consumers credit monitoring services through a rival, Experian (OTCMKTS:EXPGY), an alternative to freezing credit but at the cost of a consumer's ability to take out loans. Consumers who haven't signed up for the Equifax service can still have their credit report stolen easily. Crime and PunishmentFormer CEO Richard Smith stepped down after the 2017 breach, blaming a rogue employee for the problem, before the executive walked away with a reported $90 million.Begor insists the breach didn't mean Equifax doesn't take cybersecurity seriously, but admits its systems are not "impenetrable." He told Congress this month he's had his identity stolen three times in the last decade. * 7 Beaten-Up Stocks to Buy as They Reverse Course The Government Accountability Office says the company and its peers are still unequipped to handle breaches like the one in 2017. Further empowering regulators at the Federal Trade Commission and Consumer Financial Protection Bureau could help prevent similar incidents from occurring in the future, according to the GAO. Meanwhile, at Equifax, it's back to business as usual. Bottom Line for Equifax StockHow good is the business?The 2017 breach and its aftermath have cost Expedia its market leadership, in favor of Experian, whose market cap is now $10 billion higher, with over $1 billion more in annual revenue. Market leadership in an industry America once controlled now comes out of Ireland.Equifax is also a hard stock to recommend. The dividend yields just 1.36%, and despite what looks like a nice chart so far in 2019, it still trades at about 15% less than it did last September.Investors, and consumers, still have plenty to worry about.Dana Blankenhorn http://www.danablankenhorn.com is a financial and technology journalist. He is the author of a new mystery thriller, The Reluctant Detective Finds Her Family https://www.amazon.com/Reluctant-Detective-Finds-Her-Family-ebook/dp/B07FSRDR4Y/, available now at the Amazon Kindle store. Write him at danablankenhorn@gmail.com or follow him on Twitter at @danablankenhorn. As of this writing he owned no shares in companies mentioned in this article. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * The 7 Best Bond Funds to Buy for a Shift in Interest Rates * 10 Tech Stocks With Key Products That Face an Uncertain Future * 7 SaaS Stocks to Buy for Long-Term Gains Compare Brokers The post Equifax Stock Investors Are Still Paying For 2017 Data Breach appeared first on InvestorPlace.

  • Equifax (EFX) and FICO Team Up for Data Decisions Cloud
    Zacks22 days ago

    Equifax (EFX) and FICO Team Up for Data Decisions Cloud

    Product innovation and continued investments in expansion of Ignite analytics and linking platforms globally are priorities for Equifax (EFX).

  • Business Wire22 days ago

    Equifax and Wolters Kluwer Team up to Offer End-to-End CECL Solution

    Equifax, a global data, analytics, and technology company, and Wolters Kluwer’s Finance, Risk & Reporting (FRR) business, are teaming up to provide an end-to-end Current Expected Credit Losses (CECL) solution. The companies are combining their respective CECL offerings and capabilities to help financial institutions comply with new standards instituted by the Financial Accounting Standards Board (FASB) for a complete solution that ensures an integrated and supportable framework. These new CECL standards will take effect in the first quarter of 2020 for financial institutions that are registered with the U.S. Securities and Exchange Commission (SEC), and in the first quarter of 2021 for financial institutions that are not registered with the SEC.

  • Barrons.com23 days ago

    Banks Want More Consumer Data. Equifax and FICO Are Here to Help.

    “Banks have wanted to stitch together all the different data about their customers for a long time, and combine it with external data,” FICO CEO says.

  • PR Newswire23 days ago

    Equifax joins the WiCyS mission of advancing women in cyber security

    ATLANTA, March 27, 2019 /PRNewswire/ -- Equifax Inc. (NYSE: EFX) a global, data, analytics, and technology company, today announced its sponsorship of Women in CyberSecurity (WiCyS), the premier national organization dedicated to champion recruitment, retaining and advancing women in cybersecurity careers. "Change is coming for women in the cybersecurity industry, but not nearly fast enough," said Jamil Farshchi, Chief Information Security Officer for Equifax. "We consider it critical for technology companies like Equifax to amplify and advocate for the engagement of women in the cybersecurity workforce," said Taly Walsh, executive director, WiCyS.

  • PR Newswire23 days ago

    Equifax and FICO introduce strategic partnership to deliver the Data Decisions Cloud

    ATLANTA, March 27, 2019 /PRNewswire/ -- To increase velocity for deploying predictive models, FICO and Equifax are introducing the Data Decisions Cloud. The Data Decisions Cloud integrates the Equifax Ignite™ platform differentiated data and analytic management with FICO Cloud applications and the FICO® Decision Management Suite (DMS), a digital decisioning platform. This broad strategic alignment will enable organizations to easily explore differentiated data, uncover deep new insights, build highly-predictive models and rapidly deploy decisions into production systems across the customer lifecycle.

  • 5 Crypto Myths That Could Be Costing You a Fortune
    InvestorPlace27 days ago

    5 Crypto Myths That Could Be Costing You a Fortune

    The mainstream media pushes scary crypto myths because they're an easy way to get pageviews. But if you actually buy into those myths, you could miss out on one of the greatest investment opportunities of our lifetimes.Source: Shutterstock Below, I'll debunk five crypto myths that are losing you money. Crypto Myth No. 1: Bitcoin Is Not Real MoneyThe fundamental characteristics that an asset must have to be considered money are:InvestorPlace - Stock Market News, Stock Advice & Trading TipsUniformity: In other words, every "dollar" or bitcoin is the same as the next one. When you're talking about using seashells or cows as currency, uniformity is hard to achieve.Divisibility: Dollars and bitcoin need to be divisible, broken up into small increments to cover a wide range of value transactions. Cows? Not so much, unless you're hosting a barbecue.Portability: Your currency must be easy to transfer and store. * The 10 Best Stocks to Buy for the Bull Market's Anniversary Durability: Older, agriculturally based forms of money have a shelf life. Gold is the ultimate when it comes to durability. Paper notes fall to pieces. Click to Enlarge Source: Reserve Bank of Zimbabwe Limited supply: A currency is worthless if there's no scarcity to it. Just consider the 100 trillion dollar note issued by the Zimbabwean government -- it's a simple reminder of what ultimately happens when governments try to endlessly print their way to prosperity.Acceptability: To be considered money, the asset has to be widely accepted. People all over the world will take U.S. dollars. They won't, however, take (say) Turkish lira.Bitcoin (CCC:BTC) holds all of these characteristics with the exception of acceptability -- although that is rapidly changing. Japan passed a law in 2017 that recognized bitcoin as a currency. The U.S. state of Wyoming just did the same, and the move could impact the future of bitcoin for decades to come. Other companies and cryptos like Square (NYSE:SQ), Bitpay are Pundi X are making it easier for people to buy, sell and use crypto in their day-to-day lives. Crypto Myth No. 2: Only Criminals Use BitcoinBitcoin is nowhere near as anonymous and untraceable as cash. It's pseudonymous. That is to say, a bitcoin address can be tied to a particular user. You may not know who that user is, but that user has an identity. Think of it like a username on a website. You may not know who's behind it, but that username is tied to a particular person -- and their actions are tied to that username.The whole point of bitcoin is that it's transparent. Every transaction is recorded on the blockchain and visible to everyone. It's no wonder that the U.S. Drug Enforcement Agency Cyber Investigative Task Force reports that bitcoin usage for illegal activity has plunged by nearly 90% in the past five years.Yes, bitcoin has been the method of payment by some criminals in the past. But by some estimates, 90% of U.S. dollars have traces of cocaine on them from being used in the drug trade and no one is suggesting eliminating dollars.So as long as there's crime, all forms of money will be used to facilitate it. But bitcoin actually puts criminals at a greater risk of getting caught than cold, hard cash. Crypto Myths No. 3: Bitcoin Frequently Gets HackedIn certain circles, bitcoin and cryptocurrencies, in general, are synonymous with hacking -- thanks to some high-profile hacks of cryptocurrency exchanges. We have to draw a line in the sand, but a cryptocurrency exchange getting hacked is very different than bitcoin getting hacked.Bitcoin itself is one of the most secure assets an individual can own. But it's 100% up to the individual to secure it themselves!Third-party hacks are commonplace throughout the financial system. Just look at U.S. credit reporting agency Equifax (NYSE:EFX), where social security numbers and other personal information of up to 143 million Americans may have been compromised.That's a catastrophic breach. And this kind of thing happens all the time. So there's no use worrying about bitcoin "hacking" when you can take full personal control and accountability for securing it yourself (rather than be at the mercy of an incompetent third party). Crypto Myths No. 4: Bitcoin Gets Created Out of "Thin Air"Right now, there are more than 10,700 computers around the world running the bitcoin network's code. For the most part, the people running those computers are doing it to make money. In exchange for contributing to the network, they get paid small fees in bitcoin. Occasionally, they earn bigger blocks of freshly created bitcoin (through a process known as "mining"). It's a brilliant incentive model. And it's one that will evolve over time. When bitcoin hits its supply cap of 21 million coins, miners (or the computers running the bitcoin network) will get 100% of their compensation in the form of fees. Crypto Myths No. 5: The Government Will Ban CryptoRight now, four different authorities in the U.S. see cryptos four different ways. One considers them securities, one property, one a commodity and one a form of money.What's clear, though, is none of them consider crypto illegal. And, for the most part, they've taken a slow, thoughtful approach toward regulation. * 7 Financial Stocks to Invest In Today Countries like China that have taken a hard stance on cryptos have seen crypto companies and entrepreneurs leave the country for more open jurisdictions. Governments around the world are literally competing to attract crypto companies (and the tax dollars they bring). Closing the door to those companies means closing the door on an explosion of innovation, talent, intellectual property and emerging technology.At its most basic level, bitcoin has contributed something remarkable to the world: The ability to send value across the internet without needing to trust or use a bank, middleman or government. That contribution is having ripple effects on just about every industry on the planet, and we're just getting started. No matter how long these crypto myths hang around, I believe we'll see $100,000 bitcoin a lot sooner than most investors think.Ready to buy your first bitcoin? Learn how here. As of this writing, Fred Marion was long bitcoin. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Financial Stocks to Invest In Today * 7 Single-Digit P/E Stocks With Massive Upside * 5 Chip Stocks on the Rise Compare Brokers The post 5 Crypto Myths That Could Be Costing You a Fortune appeared first on InvestorPlace.