Topic: Are there New people joining crypto for the first time (Read 321 times)

If you are new to crypto and trying to trade. Don't underestimate your capital even if it's only $ 10, let's say that $ 10 is worth your thousands of dollars in capital. whose name the capital must remain intact and must generate profits. You don't just stick to YouTube videos, you have to learn basic technical analysis and fundamentals. that's what you need. Following other people's suggestions will mislead you, and pay attention to who you follow. don't get caught in an unfortunate situation.

These were really times when you could collect quite a bit of BTC through faucets, as a user or as the owner of a faucet. Still the amount in $ was very small even then, but the faucets were much easier to claim (no short links) and there was a lot less scam advertising. Those who saved coins from that time today can really say that they profited - because I personally could collect up to 500 000 satoshi a day without much trouble - which is $250 today, and fortunately I saved most of it


Not everyone is talented at trading, and I admit I tried, and I didn’t like it because it was too stressful, and not very profitable at the time. Still your approach is very good, you don't risk much, and you will surely learn some things before you are ready to invest more than $10. Most still invest a lot more and then a small profit pulls them to invest even more, which mostly leads to big losses - because the cryptocurrency market is completely unpredictable.

The ideal way would be that anyone who wants can get a part of their salary in a cryptocurrency - and if that is not already possible, everyone can set aside a certain percentage and invest monthly or say every three months. It's not something that guarantees a big profit, but it's important that it doesn't affect everyday life because we only invest what we can afford - anyone who smokes can calculate how much they can save per year if they stop with that - 5 EUR per box/day = 1825 EUR per year.

It's not surprising if the number is high, we have people from very remote areas with no internet connection that has not heard about Bitcoin or Cryptocurrency, most of the information about Cryptocurrency is on the internet, and in our country alone, there are areas without internet connection and these are large areas, the Cryptocurrency adoption is still ongoing, we are not leaving that stage yet.  

I am not new to crypto I used to collect satoshis on faucethub in bitcoin faucet before. I really enjoyed my time collecting those satoshis in games and captcha sites full of google ads. Now, bitcoin has become difficult to obtain for free. They don't give you much unlike before because of bitcoin halving. before people get 50 bitcoin for mining now it is about 6 bitcoin I think.

I am new to trading however just started this year 2021. This is not something I am comfortable with to be honest. The market of ALT coins and BTC is like up and down up and down, I also do not know how to do technical analysis so I rely to youtube videos for guide and that is not good. So far I have only been playing for $10 and only in spot trading. I'm too scared to put in something I cannot afford to lose to be honest however if my $10 goes up in price then I will just reinvest it again and again. $10 is a cheap price to pay if I am going to learn how to trade with it. I do it slowly but surely. I also condition my mental state that when I buy some altcoin I always think it is ok if I lose this money.

So this is my style. How about you guys?

From what I have read over the years, it can be concluded that some parts of the world are much more aware of the existence of cryptocurrencies than some others. If we take as an example the country we come from and the US, it is not surprising that most Americans have heard of BTC, given that it is part of the daily media coverage (CNBC, CNN, FOX ...), and the fact that more than 80% of all crypto ATMs are located right there - not to mention all US based companies like Coinbase or Grayscale.

The average American has a much better chance of developing an interest in BTC, than someone you, or I talked to about it.

I don't really see those saturated thing happening in crypto works since as the matter of fact there are so many people don't know how to buy bitcoins and don't know how to use it nor don't really know that this technology exist, we can see it on our localities where bitcoin is not accepted by merchants and also many people are skeptical since they think it's scam.

But to spread about this usage maybe we need to help out by simple sharing some good articles on social media news feed since from this we can possibly hit the curious minds of our friends and spread it.

50% of people know about crypto? I wouldn't quite agree with that.
People in the media hear a lot of things and forget what does not directly affect their lives including reports about crypto.
When I talk to older people they usually know nothing about crypto but even many young people know nothing about it and in fact they are not interested in it at all.
My rough estimate is that maybe 20% of people have heard of crypto, but perhaps only one in five of them has taken any concrete step in the crypto world like buying crypto or opening a wallet.
By nature, people are distrustful of new things and technologies and they find it difficult to decide to take such a step, especially if they read a lot of negative media reports and conclude that crypto is a scam or some financial pyramid that will fail.
Personally, I talked to at least ten friends about crypto and bitcoin, but no one decided to get involved and try.

There are still a bigger number of people who don't know about cryptocurrency than those who know about it because the world has no stable internet and some of the countries don't still have a stable internet connection just like our country. Internet connection and technology are the important things that a country should have before they explore the world of crypto so I doubt that a lot of people are exploring the crypto community.

Not quite the right phrase for that. Saturated isn't that word to qualify the situation with crypto with it yet to be adopted in on a global scale. Saturated makes it look as though, its universal acceptance is settled and there isn't any room for more investors. That i very much disagree and to that fact, the crypto market is unsaturated and needs or can accommodate more investors though, it has gained a world recognition now.

Of course quite a lot of people will hear about BTC through the media or from discussions of others, but I think the number of people who actually understand, let alone believe in the network are not as high as you think op, I've had interactions with a number of people and they basically just know Bitcoin as a coin that was pretty low in times past and had appreciated in price as the years went by, many of this people see Bitcoin just as a get rich quick system and to them, any individual who owns Bitcoin is rich, I've had to correct this impression and misconception in quite a number of my friends, those people can't be said to have joined the btc network.

Having said that, adoption is no doubt increasing, with institutional Investors coming in and more fate bestowed on the network, but it'll still take quite a lot of time for mainstream adoption to be possible on the network.

Just because many people heard about crypto doesn't mean that they will invest. As a mater of fact, majority of people still don't want to have anything with crypto and for them it's too risky. At least that's how it seems when I look at the people around me, where only 5-6 of them I know are into crypto.

So yeah, while it may seem tha many started dealing with crypto, in reality that's just the tip of the iceberg and we are still not there when it comes to the crypto being mainstream.

The use of crypto where I live still doesn't exist and I don't even understand what cryptocurrency is and what Bitcoin is. It is a little behind, only a few people are aware of the existence of cryptocurrency digital currency. Currently bitcoin is only known to the general public, because Bitcoin has become a trending topic in economic news these weeks. Ordinary people hearing about bitcoin do not understand why it is so expensive and continues to rise.

Maybe in big countries that are more advanced crypto has become general news, but in my country or specifically where I live, crypto is still a foreign thing and far from mass adoption. Only a handful of people who understand and struggle in it.

Despite the fact that lots of people around the world have hard about cryptocurrency there are still a large amount of people who does not know it exists  and a good number of them are from underdeveloped countries where access to new technologies is minimal.  So I will say there are still good number of people not aware of the existence of cryptocurrency.

I think there are certainly people who have not heard or do not want to hear about blockchain technology or bitcoin. These are conservative people who are over 50+, they simply do not need to study the world of cryptocurrency, and they are most likely not familiar with a computer ...

Well, it is possible, yeah. It's just that the opposite is more possible. According to Statista, "the global online access rate was 51.4%."^[1] That's the 2019 data but the findings were only published just last month. Taking off from there, lack of internet access basically means you cannot access Bitcoin also, right? You need the internet to download and install a Bitcoin wallet. You need the internet to purchase Bitcoin. In other words, you basically need the internet to do something about it.

Of course, hearing about Bitcoin could happen even without the internet but it is more likely that without the internet they wouldn't also encounter the internet money.

[1] https://www.statista.com/statistics/209096/share-of-internet-users-in-the-total-world-population-since-2006/

That is very true. Hearing and actually using it is very different. They may have heard it but no idea what this is about. So we can't consider them as part of crypto in any way. Right now, the adoption is still small as compared to the global population but I do agree, that the numbers are increasing. With all the financial institutions that are getting involved and with PayPal/Tesla's declaration of accepting crypto in their payment system, these moves actually give crypto positive impact to people. For those that are still considering crypto as fraud, they may have change their views already.

I think it's fully possible that half of world population heard about Bitcoin. From people that I know, probably most of them heard about Bitcoin, even older ones. But it doesn't mean anything. Most of people just know that Bitcoin is some kind of money and that's all. They have zero knowledge about it and no interested to get involved in crypto. It's same like I know that thing like quantum physics exists, but I have no idea how it works.
Another thing which more important is how many people are actually involved in crypto. As said above, it's just few % of world population. Yes, it's millions of people, maybe 40 millions, maybe 60 millions or something similar, but it's not something what I would call mass adoption.

I'm having the same thought here, I see my country topping most crypto positive related chart but when looking at the adoption rate in the country, I begin to doubt the stats. We're praised for the awareness of cryptocurrency in the country yet we're lacking behind when the adoption like the bitcoin ATM or service providers are brought into the conversation. Everyone here just trade/hold bitcoin, without this features I doubt if the currency would had been as big as it's over here.

The top exchanges or crypto service providers aren't even own by the locals which is just disappointing. Concerning the OP, even in the so called top friendly bitcoin counties, we still have individuals that are yet to know about bitcoin. In africa and nigeria precisely we have numerous of them that are yet to use the bank or smart device talk more of getting to hear about bitcoin or use it.

Maybe if crypto regulation takes place in future you will understand that today's adopters are not even close to half of the people in the world today, where I'm from many don't even understand what bitcoin is and most can't even pronounce it well, billions of people don't want to get involved in crypto yet and that's because of risks involved and lack of regulations

The same goes for me. Heard or not, the fact that people are now aware of Bitcoin doesn't necessarily mean that cryptocurrency and blockchain technology passed the adoption stage. People recognize Bitcoin however the stigma when hearing bitcoin often ended as numerous misconceptions adding doubt and mistrust. Well, in my place at least. Though I am still hoping for the good (bitcoin or rather cryptocurrency to be truly accredited by the majority) which I think would happen in the near future with all the pandemic and whatnot.

I don't think half the world's population knows what Bitcoin and cryptocurrencies are...
In my city, there are still many who haven't heard of Bitcoin at all, even though the city I live in is classified as a developed city. many know or have heard of Bitcoin but on average are afraid to start investing because they are not confident.

Ever since I have been on this forum, there has always been information about 0.5% - 1% of the total world population who are in some way actively involved in the world of cryptocurrencies. This roughly brings us to a number ranging from 40 million to a maximum of 80 million people who own/trade cryptocurrencies.

As for the data on the number of Internet users, the latest data say that it is around 4.66 billion, which is about 60% of the world's population. This does not necessarily mean that those who have internet have heard of Bitcoin, but neither does that of the remaining 4 billion who do not have internet access, no one has heard of BTC - because these people may have access to television, radio and newspapers.


Of course, as the OP noticed, it's not the same to hear about something and understand what it's really about - I think a very small percentage of people can at least somewhat explain what Bitcoin is - and from my own experience I can say that out of 100 average people I'm talked about it, maybe 1 or 2 know some basics.

I doubt we’ll find a reliable statistic that depicts the crypto funnel and the associates numbers from a potential lead to a regular user. Speed will vary widely per country based on needs, regulation, background and so forth, so even trying to set a common ground would not be as simple in a multidimensional model.

I came across a stat on Statista on the "share of respondents in selected countries who said they used or owned cryptocurrency" in 2020. I don’t really trust their surveys too much (I’ve seen some prior stats on crypto on my country that seemed way-off), but their global consumer survey rendered the following results on the previously stated intent:

The accreditation stage does not require people to know Bitcoin but rather the money that is pumped into it.

 - Companies and investment institutions have begun to buy bitcoin, which means that we are still early to accept cryptocurrencies.
 - Many countries do not adopt cryptocurrencies, and the majority that did accept them was for the purpose of imposing more taxes.
 - We have to differentiate between forecasting and taking it as a reserve.

If Bitcoin is considered a safe haven (the market capacity is over 10 trillion), then alerting people or using it will only be a matter of time.

Knowing and hearing are two different things, in my opinion. And a lot depends on the country. In some countries, there is strong propaganda against bitcoin. He is called the bubble, pyramid, and terrorist currency. If such a policy is constantly pursued, then many simply will not invest their time in more in-depth study. The very word "Bitcoin" has been heard by many, but what will happen next, whether they will be interested in Bitcoin and its study, depends on the hearer himself.

people who are tech-savvy are the ones who are joining and discovering that they have a lot of things that can be done, some are people who are just curious, some are investors who just want to earn because of the pandemic, but in reality, I think, there is an only low percentage of people who join because they thought the only way to earn or have money is by working in the real world sooner or later they will found the reality, and they will be surprised.

As per a study, till 2016 over 3.4 billion people have internet coverage & which is increasing on an average of 640,000 people have gone online every day.

Assuming the above figure is correct then yes most of the world's population is aware of cryptocurrency and in large about Bitcoin. As media is more focused on Bitcoin than any other cryptocurrency.

Still, a long way to go it is just the beginning.

The pseudonymous nature of the space makes it difficult to know the rate of adoption by new people. Just for bitcoin alone we have over 500 million wallets though some do have bitcoin and many can have more than one of this, for altcoin same applies. CEX have the chances with KYC to know the size of new users although this information may not be shared by exchanges. Also some users keep their coins on exchanges, which could be difficult to attach users outside the exchanges. The way new fund comes in could give an idea of how many wealth individuals had been taking position in cryptocurrency. 

Day by day, for sure the are people who are joining crypto.
Day by day, there are people worldwide who have saw or at least heard it in either other people or in social media.

I don't agree with what you said though that half of the people worldwide heard about crypto. Not all of the people around the world have access to internet and in fact, there are still people who have access to the internet but unfortunately didn't heard anything about crypto. Most of the people joining are possible coming from the first world countries like US.

Yes it is becoming a hype or trending subject now all over the globe. But I think we're not yet on full adoption stage cause for example, I still have friends that still when they heard bitcoin, they asked me question, what is that. I thought its just a hype digital money with no real value, and that'd where they are wrong isn't it?

But in fairness I saw a huge traffic from new users or inquiries about it. So adoption stage is kicking in but not totally, we are still early.

Especially in bigger and more modern countries like the US, bitcoin and crypto definitely is more of a household name today. But regardless, while most people have heard of it, only a very small minority only have a clear understanding on what Bitcoin is and what it's for. Heck, dare I say that most people here on Bitcointalk doesn't even have a good understanding on Bitcoin as a lot of people are here solely for collecting bounties.

Almost 50% of the world's population? I highly doubt it. Or if the number is that high, I would say less than 10% of those who have heard or encountered Bitcoin and crypto in one way or another either don't have any idea what they truly are or are not actively into it.

I suppose every single person who truly knows about cryptocurrency knows about Bitcoin. Bitcoin, after all, is somehow bigger than crypto itself. Most likely, there are less than 100 million Bitcoin wallets in existence.^[1] If that's the case, there are definitely much lesser wallet owners. Even rounding off the Bitcoin wallet owners to 100 million, that's still only a little above 1% of the total world's population.

The point is that global saturation is far from happening and there are still billions of people who have yet to hear the good news.

[1] https://www.buybitcoinworldwide.com/how-many-bitcoin-users/#:~:text=With%20that%20said%2C%20one%20Bitcoin,64%20million%20wallets%20in%20existence.

Half the world døbt have internet so there's a good $4bn people who don't know about bitcoin.

Hearing and knowing about something isn't adopting it. The moment you realised the bank would give you a loan was not the moment you owed them for that debt...

There's only $1-1.5tr invested in crypto, that isn't a lot of money realistically. I heard apple had cash holdings a while back of $200 billion for example are the standard population at the moment have more money than institutions overall (for now).

I think by now. Almost half of the world population have heard about crypto and alway know one or two things about crypto and bitcoin. i think the crypto ecosystem has saturated globally and it is nolonger something new to some everyone. Also knowing about bitcoin and cryptocurrency is entirely different from it's usage, storage and operation. people do hear about crypto in the news and also in adverts.
Are there people somewhere that have not HEARD about bitcoin please.
if there is nobody, then crypto and blockchain technology has passed the stage of adoption. we are moving to the next stage.