Factors that's why others are hesitant to start in crypto

Lamkuthang

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Quote from: tech30338 on May 18, 2023, 11:12:14 PM

These are the things that make people hesitant to learn and start in cryptocurrency:

Resources - some have laptop mobile phones, internet but others only have to rent, that is why they have less time go online and check what is going on, but if you are like this, don't stop, even though not daily but try to go online if you have time.

All work requires work tools, let alone this crypto world. as you mentioned above, but there is a main factor that is very dominant when working is the availability of an adequate internet network, and sometimes a person has to travel several Km from where he lives to a place that has a quality network. new comfortable to go online and work.[/list]

Finestream

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I think from all these factors, scam which is very rampant these days makes the most reason why a lot of people never care to start with crypto. Aside from their limited knowledge about crypto, the risk of losing their money from getting scam is high so they decided to just never deal with crypto particularly with bitcoin since it’s known for its get-rich-quick scheme that mostly people believe. While others have taken some courage to explore and invest in crypto, the rest chose to stay hesitant because of their wrong accusation on crypto and bitcoin.

Vaculin

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Winding down.

Quote from: kawetsriyanto on May 31, 2023, 04:59:31 PM

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Ignorance is one of the major problems why people don't invest in Cryptocurrency, making people do not understand how to buy and sell in the crypto world, a good number of people lack this understanding and they claim it is insecure to invest into.

There are many reasons why ignorance becomes a serious problem. Not everywhere people are familiar with digital investment, some people even aren't familiar with the internet yet. For these people, surely they assume crypto is something too risky and they may not believe that it can gain money for them. So, we can understand if they are not involved in crypto. In addition, I think people still have a lack of understanding about crypto due to their old habits, not everyone has the ability to follow the innovation. Most of them are old people, they only believe in something that they often do in daily life. They are against something new, especially for digital matters. I saw there are many old people with this personality in my town.

What we can expect from old people than to stick with what they are used doing, and that resorting into changes may only make them struggle. However, for this new generation, exploring the new innovation is their favorite habit that’s why they easily perceive the idea of digital cryptocurrency and even take risk investing in it. But for those who stay ignorant and refuse to get education on crypto, then they will forever hesitant to invest in crypto.

martinex

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Quote from: tech30338 on May 18, 2023, 11:12:14 PM

These are the things that make people hesitant to learn and start in cryptocurrency:

Scam - When i first told my friends about crypto they ignored me and say its a scam

You are absolutely right, that's the first thing that is always spoken on the lips of the average person who doesn't understand..ah. it's a scam so it make Contributing to Hesitation in Adoption. Yes. The cryptocurrency market has always been associated and scapegoated with the attributes of scams and fraudulent schemes, which have caused significant financial loss for some individuals as well as created a feeling of skepticism and distrust. But, those who already understand just smile Wink

Ziskinberg

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Quote from: Outhue on July 01, 2023, 02:40:22 AM

Truth is, some people just presume that crypto generally is scam and they are not ready to view crypto from another angle, maybe they could be wrong, if you are the type that views things from different angles you are a wise one.

It's on us who understand what crypto is all about to start correcting those that just consider that crypto is generally a scam.

If we think negatively already, that will pollute our minds and then think it was totally a scam thing. And that was hard to change and these people will spread FUDs and fake news to those who are asking them. That is why we don't have to wonder that the adoption is quite low and many individuals are got into uncertainties because of the lack of experience and knowledge.

Well, of course, due to the growing number of shitcoins or scam projects, you will somehow be cautious as you might get caught by these scammers.

Outhue

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Fear and scam is two in 1, the reason why some people are not in crypto yet is because they fear of losing money to scam projects, and they also don't know where to start, instead of taking the step to do research, they look for someone they can follow, and if the person they are following are scammers, they end up becoming a victim and the next thing that will come out of their mouth is crypto is scam.

Truth is, some people just presume that crypto generally is scam and they are not ready to view crypto from another angle, maybe they could be wrong, if you are the type that views things from different angles you are a wise one.

It's on us who understand what crypto is all about to start correcting those that just consider that crypto is generally a scam.

The Wasp

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Quote from: Andrija Branislav on July 01, 2023, 01:20:04 AM

This topic is Interesting and we need to examine why many people may still hesitate to start in crypto.

Based on my observation, a number of people seem to hold back from investing in cryptocurrency due to the dearth of knowledge coupled with the dread of financial loss. Fortunately, there is a strategy to avert these risks. By seeking knowledge. The wider your comprehension of cryptocurrency, the better decisions you can make. This is probably one of the most important things when investing in anything, and it applies to cryptocurrencies too.

I was in that position too. I didn't understand anything at first. I don't understand many things even today. But I learn something new every day. As for the investment, I'm still cautious. I don't have a lot of money, so I spend every dollar carefully. Here I learned that DCA is by all accounts the best investment method for beginners, so every month I set aside a portion of my income and invest in crypto. So far I'm happy with the result.

Andrija Branislav

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This topic is Interesting and we need to examine why many people may still hesitate to start in crypto. It is important to note that with the potential for higher returns comes higher risk, and individuals should carefully consider their risk tolerance and investment strategy before entering the crypto market. For example, in terms of education, at least a novice trader must be able to read the market. Always have a Stop-loss, Don't Revenge. And conversely for a bearish structure, selling resistance.

esinka1903

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Humanity has always been afraid of the unknown. Bitcoin is also an unknown for many beginners like me. That's why I agree with you. If it was more simple to explain and learn, beginners would move more quickly. There are even people who talk about Bitcoin all the time but still haven't invested.

Sandra_hakeem

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Goodnight, ohh Leo!!! 🦅

...but I couldn't decipher your points generally... Are you actually saying that the major factors you need to Begin a crypto line would actually be the same reasons why you shouldn't?? I don't get. How would anyone exclude the fact that he needs income to Begin HODLing crypto??
Secondly, you listed "fear" and "scam" as a major criteria that daunts people from beginning... Good,.- has anything ever been done with much certainly in life without getting involved in a little risk at all?? How would you ever think of breaking the bond of poverty when you ain't even ready to try something new?? Lastly, you speak about the lack of knowledge as being another problem... Please take note, cryptocurrencies weren't introduced for everyone's approbation.

Sandra 🧑‍🦰

Fullcoinese

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Interesting and we need to examine why many people may still hesitate to start in crypto.

In my opinion, there are still many people who are unsure or don't know cryptocurrency because cryptocurrency is still relatively new.
Next, knowledge of cryptocurrencies is still considered "special", meaning that many people say that if you want to enter the crypto world, you must have good technology knowledge.
limited education or knowledge or people who teach cryptocurrencies and lastly are the many cases of fraud that cause many people to doubt it.

BlackHatCoiner

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And to all of that, add FUD. The fear doesn't only come from the unknown; it comes from the brainwashing of the media. Just take a look at the Bitcoin obituaries, it's hilarious. Someone who's no idea of what to do with their money, would avoid being included in all that madness.

Basically that. Fear. Money and resources are cheap excuses. Let alone "mentoring", lol.

Viscore

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Quote from: kawetsriyanto on May 31, 2023, 04:59:31 PM

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Ignorance is one of the major problems why people don't invest in Cryptocurrency, making people do not understand how to buy and sell in the crypto world, a good number of people lack this understanding and they claim it is insecure to invest into.

There are many reasons why ignorance becomes a serious problem. Not everywhere people are familiar with digital investment, some people even aren't familiar with the internet yet. For these people, surely they assume crypto is something too risky and they may not believe that it can gain money for them. So, we can understand if they are not involved in crypto. In addition, I think people still have a lack of understanding about crypto due to their old habits, not everyone has the ability to follow the innovation. Most of them are old people, they only believe in something that they often do in daily life. They are against something new, especially for digital matters. I saw there are many old people with this personality in my town.

Most particularly for those living in ages, they find it hard coping up with changes and so they just settle on what they feel more comfortable to. And for me that’s never a problem as long as they are already contented living their own life. However, there’s always chances to improve and be more susceptible to success and profits if they still aim for life’s progress by making theirselves equipped with new innovations and embrace new knowledge and set of skills. Ignorance excuses no one, and so everyone is still capable to learn more and grow. And with crypto around, I know it’s certainly a good start for all of us.

decodx

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In my opinion, there are a few key factors that make some people hesitant to start in crypto. Firstly, the complex and technical nature of cryptocurrencies can be overwhelming and intimidating for newcomers. Also, where I come from, people are more used to investing in traditional financial instruments like stocks, bonds, and real estate.Cryptocurrencies are still relatively new and unfamiliar to many, which adds to the hesitation.

Quote from: TelolettOm on June 11, 2023, 06:59:55 PM

Regarding volatility, it is actually an advantage if people understand it. With the high volatility, Bitcoin and altcoin prices can rise significantly, even it skyrockets in a short time. But it is also a big risk if people choose the wrong time for entry (buying). So, to deal with this, people must have sufficient knowledge.

Yes. It can indeed be advantageous if people understand how it works. But I think volatility can be more favorable for traders who actively engage in short-term buying and selling. On the other hand, long-term investors who don't actively trade might find the high volatility of cryptocurrencies to be challenging.

TelolettOm

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Quote from: Trouvaille on May 31, 2023, 09:09:13 PM

Many people do not understand the basics and working principles of Bitcoin, which may lead to distrust and caution towards cryptocurrencies.
The cryptocurrency market is very volatile and prices can rise or fall significantly within a short period of time. People worry that their investments are at risk.

Not only about less knowledge of understanding Bitcoin principles and crypto market, but people are also afraid because they hear too many FUDs. It leads people to distrust BTC or crypto as a whole. Unfortunately, many people are lazy, they don't do their own research about the facts. If they do own research, they must know that many FUDs are just created to make people stay away from crypto. This indicates that there are still many people who have low awareness and curiosity about the issue analysis.

Regarding volatility, it is actually an advantage if people understand it. With the high volatility, Bitcoin and altcoin prices can rise significantly, even it skyrockets in a short time. But it is also a big risk if people choose the wrong time for entry (buying). So, to deal with this, people must have sufficient knowledge.

Botnake

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Quote from: Daniel91 on June 10, 2023, 07:27:58 AM

I talked to several friends about investing in crypto and almost all of them rejected the possibility.
Why?
First of all, people are busy with their daily life, responsibilities, work and other things and do not think about any investment.
Most feel that they do not have enough money for any investments or are afraid of the risk of investing and the possibility of losing everything.
Everyday use of bitcoin or any crypto is still rare and that is not a sufficient reason for someone to become interested in bitcoin.
Besides, when I start explaining to people what bitcoin, digital wallet, private key and other crypto terms are most of them just give up and don't want to listen.

That’s for those who are not completely aware on the future of bitcoin. Instead of taking the edge in bitcoin and accumulate a lot while it’s affordable, most of them chose to reject the idea of bitcoin investment because they are not ready to take the risk and they are not ready to incur losses, when in fact those who do not lose at first won’t make it big in any of their investment attempt or endeavor.

Distinctin

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Quote from: tvplus006 on June 03, 2023, 11:57:15 AM

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Ignorance is one of the major problems why people don't invest in Cryptocurrency, many people do not understand how to buy and sell in the crypto world, a good number of people lack this understanding and they claim it is insecure to invest into.

Many simply do not want to engage in cryptocurrency for the reason that they are completely satisfied with their current life. They go to work, get a decent reward for their work, which allows them to meet all the financial needs of the family. And when they have free time, they do not go online, hoping to get additional income, but go to a meeting with their friends.

Well, it could be true but certainly for few people only. Because if you are given the chances to invest in bitcoin and you have all the means to do that, then why not take the risk? I think one thing that stops them from doing so is that they are afraid to take the risk, they are afraid to suffer losses. The reason why they chose to be contented of what they currently have, as long as they have their own stable jobs that will help them earn a living.

BitDane

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Aside from the given list, another reason why others are hesitant to start in crypto is due to the complexity of the technology for the user to understand. They are confused with technical terms and technical process on creating wallet, sending and receiving transaction and securing their wallet. Many are afraid that they might commit an error and lost their fund.

Another thing is the uncertain future of cryptocurrency. Since some government are on neutral stance, investors are hesitant to start because they don't know whether the government will acknowledge cryptocurrency or deny them and worst ban the use of it in the country. Aside from the lack of government acknowledgement, investors hesitant because they don't know whether cryptocurrency is here to stay.

Russlenat

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Quote from: ThemePen on May 21, 2023, 03:21:20 AM

I want to add one more point.
Crypto Ban In The Country: Recently in my country Government has banned the Crypto so the people who don't know about crypto, when we deal or try to tell them about crypto they say this is ban so we don't do any illegal work. So we also face this problem in our country. The social media make panic situation in the people so they don't buy or sell.

It could be somehow correlated to fear since people do not start with crypto knowing bitcoin is being banned in their country and that they are afraid to get caught by the government and put them in jail. And once it’s banned, it’s considered illegal so if you are a law abiding citizen, you would not want to enter into crypto and become the target of the government as being disrespectful to the country’s rules and policies.

alastantiger

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Quote from: tech30338 on May 18, 2023, 11:12:14 PM

These are the things that make people hesitant to learn and start in cryptocurrency:

Scam - When i first told my friends about crypto they ignored me and say its a scam
Fear - since they thought crypto is a big scam, they fear they will just waste their time, and money investing and then wipeout after
lack of knowledge - since they don't have knowledge and they sometimes think it will be hard to learn, they loose interest in it, but in reality with lots of information over the web and with bitcointalk its really easy to learn something about crypto
Mentoring - Although others don't need help from others some are don't have the courage to start on their own and need others to guide them although as i said, bitcointalk is the way to go, but someone should point them to this site for them to realize that
Money - Although money is important they thought that the only way to earn in crypto is to have money to invest, but there is lots of things how to earn without money
Resources - some have laptop mobile phones, internet but others only have to rent, that is why they have less time go online and check what is going on, but if you are like this, don't stop, even though not daily but try to go online if you have time.

The thing in my opinion that makes people hesitant to invest in cryptocurrency is the fear of being scammed. No other. So even when they meet their friends for advice on which coin to invest in, what they are saying in essence is that "please help me make the right investment decision. I am afraid of getting scammed." This is especially true for people who want to do debt financing. As read that some students invested in cryptocurrency using their credit cards. One factor that I think is not so common is the government. People who live in regions where the governments are threatening every day to regulate cryptocurrency or ban them outrightly are also hesitant to make any investment.

Topic: Factors that's why others are hesitant to start in crypto (Read 708 times)