Topic: Factors that's why others are hesitant to start in crypto - page 3. (Read 708 times)

These bans and regulations are always a hurdle for Bitcoin and people obviously will take these seriously and think that Bitcoin is something bad if they don't already know much about it. Governments take Bitcoin as a threat to their own benefits that they get by imposing rules and regulations and following the financial activities of their citizens.

But as time goes on, these things will start getting away as more awareness will spread and people will slowly come to know that Bitcoin isn't something bad but it is a useful thing that can be beneficial for them in the long run.

True, that is why I stated fear is a one of the motivating factors why people who are into investment do research, study and strive to be knowledgeable about the investment venture.  Once they learn about cryptocurrency, not only they learn about the advantages but also the risk involved when one decide to engage to such investment. 

Having the knowledge about risks involved, the investor then look for process and possibilities to mitigate risks.  Knowing how to deal with risk will give the investor a better chance of having a profit.

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As for the reason why people are hesitant to start in crypto, I always think it is because of the lack of knowledge or lack of financial capability.  Things like being scammed, need mentor and fear happened because of lack of knowledge.  If we have the knowledge, we can avoid being scammed, or there is no need for mentor, and since we know what we are going through, fear more likely won't happen

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.

What crypto is the first thing you tell your friends so your friends ignore it.
Incorrect delivery could have the potential for people to ignore it because there are so many types of crypto that up to now there are 10,174 types with different strengths.
It is natural and not wrong if there are people who are afraid to start in cryptocurrency because there is no certainty that they will get their money back amidst technological sophistication that makes it easy for people to get updated information, including about cryptocurrency.

It's a different story if the delivery is conveyed clearly about Bitcoin which has been proven to be one of the best cryptos out there among tens of thousands of types of crypto.

What I understood when I started out related to crypto is income.  But indeed from the beginning I have studied, the advantages and disadvantages that I can get. Another problem that makes me feel very confident is that I see real evidence of real results from the person who taught me. He's a good friend of mine and I know he's not going to lie with what he says. He said I manage my own funds with my own account without going through any other party. It also made me believe even more. What is certain is that my desire at that time was strong, I wanted to have another income from my hobby (computer).

Finally I survived until now, Bitcoin Crypto has helped my economy to date. There are some people who start but they don't stick around and eventually leave. One word for sure is desire and intention.   

People can overcome their fear by learning more to understand that crypto is not scary. Once they understand more about crypto, they will see the advantages they can get through crypto by investing.

I just assume that if they don't want to start investing in crypto, it is because of their ignorance and not being able to accept new things. We may have met people like that and let them continue their actions.

And one day, when their minds are open and they can accept Bitcoin or crypto and come to us asking for further explanation, we can help explain it to them. Apart from that, we still cannot force them and fully leave the decision to invest in them.

Have you looked at your signature space while telling us that newbie's only option is to directly invest money to earn cryptocurrency?  Aside from money investment there are other way of earning cryptocurrency.  One can offer his skills by doing freelance job, another one is joining campaigns, you can see many of those in the forum's altcoin bounty or they can offer services in exchange for cryptocurrency as payment.

Although spending money directly is the fastest way to acquire cryptocurrency, the option is not limited to that.


I think fear is also one of the motivating factor of learning.  The fear of losing will push a person to study the venture deeply so that he can avoid it(losing).  I think the more probable reason people don't want to know and learn cryptocurrency is because they are lazy to do it.

I agree that forcing them to follow our lead is not the best move.  We should let them decide for themselves forcing them to do things often times have a bad result.

Money, scam and fear contribute a lot as a major deterrant. Really People don't want to get started because some still think that crypto is a scam and so they want to avoid getting scammed due to various scam news around crypto each day, then while the people that has no fear to start investment or start learning don't have the money or capital to start with even for serious minded persons who are willing to set away fear and learn, money has become a very big challege thus can take people more years to start because some don't have that spare money or money which they can afford to lose to being with.

When I read this, I had totally different thing in mind about the scam but after reading your own, I decided to still share with is in my mind.
People who already got into cryptocurrency who are not careful ends up being scammed in cryptocurrency and if that be a newcomer it might discourage them and they will stop their cryptocurrency journey.
Scam is something that is eminent in the crypto and even here in the forum, there are scammers before scam is not moderated here.[/list]

To be honest, back then I also thought that Bitcoin was a scam, OP other than also an illegal currency used in the dark web since I was curious to the whole dark web thing back when I was a teenager.

Lack of knowledge depends on where you plan to be in crypto. Do you fancy the technical stuffs? I love to program however blockchain programming isn't one of those specialization that I really love to deal with. I am more of web app guy with interest also in dealing with games using Unreal Engine, lol.

For mentoring and resources, considering that these are all virtual, I don't think that many people would aim for mentoring. There are a lot of free resources out there in Youtube. I even learned day trading from a single Youtube channel (ain't gonna mention it at this instance as I ain't promoting any channels, lol).

Here also in my country, although it is just warnings and no bans. Even a single bank in here are allowing crypto transaction, although I think that would be just for a short-term considering how many scams happen using crypto.

Fear and Lack of knowledge are the most important part of crypto that many beginners are facing and because there are many scams in this space people are still feeling unsafe with crypto investment, it's not a place where anything is guaranteed even while it's full of many opportunities.

Crypto is for the strong ones that believes in 'no risk no reward', if you are ready to take some risks you will be find your way in crypto and make some money, but still there are many factors that could cause losses, you need to do your research and make sure that you put your money into projects that worth investing your hard earned money on.

People don't want to know and learn about crypto because there is a fear of stepping into something new that might change for the better. I've met people who didn't want to know new things and to be able to give them a chance to get better. And I also don't force them to follow me because that is a choice.

And I'll leave it entirely up to them when it's a choice. It's their money, they are responsible with their money and we are just giving them information. And if they are not interested or are hesitant to get to know crypto, that is up to them. The important thing is that we have tried to introduce crypto to them.

And the information I gave them was not trading or participating in investment programs but only buying bitcoins regularly every month by setting aside some of the money. But they don't want to and it's their choice.

OP, I might add a few more things from my practical experience here.
Local media in my country very often write negatively about crypto, and often give examples of how someone lost money investing in crypto or was scammed.
Even government financial regulators and banks often send out press releases warning of the dangers of crypto investing.
For the average person without much financial experience and education, these are quite enough reasons to give up investing in crypto.

Due to their experiences with scammers, a lot of people consider any online investment to be a scam.It is not news to us that many people have lost a significant sum of money to scam projects, particularly ponzi schemes. As a result, prospective investors are scared and neglect to learn about cryptocurrencies because they assume they are scams.

The fear of losing will always be larger than the idea of winning if a person doesn't have enough knowledge about cryptocurrency, this will prevent them from investing in it.


Knowledge is very important in anything you may choose to do in this life especially in term of business or investment. I agreed with you that lack of knowledge make some people to loss in interest, but I don't think it main reason for someone to loss interest easily because we are not born with knowledge, so are to acquire it. If we are lack of lack knowledge about anything the best is to do, is do research about such things.

Money is one of the primary reasons why people are put off from investing in the bitcoin sector. It even puts people off from learning because some people don't even have the resources, like as high-quality smartphones and laptops, that would allow them to access the internet.

One of the major reasons I didn't get into crypto  earlier was because of the fear of being scammed and most times I try my best not to get to regret them because there is nothing I can actually do to change the last and some other  time, I also wish I can go back to time to buy bitcoin  even it was still on pre-sale but you know as they always say that you can't eat your cake and have it back.

No true friend should  hide a legit way of earning income from his friend and anyone who does shouldn't be regarded as a friend.
And the only reason I don't feel comfortable  bringing people into the industry is the fact that I might be blamed if anything  goes wrong and if you must come into crypto  through me, then be willing  to accept my disclaimer.

It's completely normal for a person who hears an investment like Bitcoin for the first time to think that it's a scam. TBH, I'm like them when I was a newbie. I also think that Bitcoin is a scam for some reasons, but after learning it, and researching, I realized that I was wrong, and it wasn't a scam. Your friends might need to make some research as well, or just let them be, and ignore them as well, or better if you don't open anything crypto-related to them.

That's why we have this forum. That's why we have Youtube. That's why we have different websites where we can learn crypto. There are many ways already for a newbie to learn about crypto online. What they only need is time to do it, and the eagerness to learn it. It's already a good thing that we have an access to these information, and it's free take note.

I always believe that having a mentor will shorten your learning curve, and you will learn faster if you have a mentor that will help you. Though like you said that there are some who prefer self-studying, I still thing that having a mentor is a good thing. When I'm starting, I didn't have any mentors at all, and the only thing that helped me is this forum, and Youtube. I learned a lot from these 2 websites, and I didn't have a mentor that's why it took me longer time to learn.

These 2 are somewhat correlated with each other.
In order for you to make money, you need some resources.

You said it already that there are many ways to earn money online, and these money can be used to buy the resources that they need if they really want to use cryptocurrencies. Like I said, if somebody really wants to learn it, they will do everything just to have it, and that's include saving some of their money to buy a laptop, or a phone etc.

Mentioning money as a factor why people delay their motives of investing into cryptocurrency is quite true, but that doesn't stop anyone if they're determined to exhaust energy and work to get bitcoin. When money is the barrier, energy is always there to make space for more opportunities. All over many marketplaces, people offer services for bitcoin and that's a good way to start investing into cryptocurrency. So, in a way, money shouldn't be the reason why a person won't invest into cryptocurrency. However, plenty of money is required to get high profits and loss in the market, yet starting from somewhere is better than ignoring the investment entirely despite being interested in the market.

As long as there's money I don't think any of these factors would hinder anyone from starting crypto.

SCAM and FEAR are literally the same thing, you just separated them to make your thread longer. The fear of being scammed can be overlooked with enough funds it's a known fact. That's a known fact

RESOURCES: you mentioned laptop and mobile devices which can be bought with money. I'm not gon talk much on this, you get where I'm driving at.

LACK OF KNOWLEDGE and MENTORING: Again two similar points that could've been folded into one point, but you felt that separating them would make your thread longer.

There are legit crypto classes out there that one can register under. Yes they might cost you money, but that's where the funds come in.

They main factor hindering people from engaging in crypto is the lack of funds and ignorance. .

Fear is an emotion that if you use it well, you will make profits, and if you misuse it, you will end up losing your money. Fear and greed are linked and it is difficult to separate them, so you will need a little of this and a little of this to make reasonable profits.

The real problem that I see is a lack of knowledge. Fear disappears as soon as you start the first trade, and cheating ends with knowledge, but not continuing to acquire knowledge and trying to be on a permanent coating is the long-term problem.

Investing also means that you do not invest the money you need to pay expenses or feed your family, otherwise you are risking their future.

It is not only in the crypto industry, there have been a high rate of scam in almost all the sectors of the economy. But the crypto industry has a fair share of these criminal activities with the uncontrollable creation of many shitcoins and unreliable exchanges. But there are also genuine crypto platforms that have been steady for many years. But when you start to reap from your patients and confidence in bitcoin, they might be convinced of its genuineness.


Investing or believing in Bitcoin is not for everybody. Some people are chicken-hearted and can not take business risks. At least we know that Bitcoin has not disappointed since its creation. Business is risky and only the brave can invest in Bitcoin because there will always be fearful speculations and many distractions.

This is a slothful man's excuse. Everybody should do their research and learn about the sector they want to invest in. There are so many educational materials about Bitcoin on this forum and some other reliable websites or ebooks. So this shouldn't be an excuse because they can always access vital information.


Investment decisions are personal. After you have gotten enough information about a sector, it is your responsibility to choose to invest or abstain. Mentors will only counsel and guide you but they will not force you to invest. This is because you will blame them if something goes wrong.


The beauty of Bitcoin is that you can start with what you have. You don't need to take a loan to start investing in the sector. And it is also not a full-time venture. So one can always get a job and use this sector as a side job.

Electronic or communication devices are expensive but there are also cheaper options. Renting a laptop or phone is not advisable because it could be risky and expensive. My advice is that people should take their time and save money and  get a cheap but functional secondhand device.