Why people dont get involved in Crypto

Why people dont get involved in Crypto


I cant really understand why people dont get involved in Cryptocurrency but then I have no faith in paper currency especially at the rate governments are printing more to prop up a failing system. The reasons I feel cryptocurrency still isnt gaining mass adoption are:

(1) People still do not really understand it or its purpose and since there are now 1000s of altcoins this doesnt really help as what are they all for?

(2) Stories of exchanges being hacked and money being lost plus the various scams will continue to impact on the credibility of legitimate projects.

(3) The extreme volatility scares people off despite the potential life changing gains that can be had. Even with the growth of stablecoins how many people know and understand. 

(4) It still isnt easy to use and transfer crypto as if you type or copy a wrong address you can lose money. Compare this to bank transfers which are easier to trace.

(5) Fees to purchase from fiat to crypto are still quite high on major providers such as Coinbase -  4% on your card purchases.

I am still invested but huge leaps forward are still required to get your regular Joe Bloggs involved in this space.

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iansinc61
iansinc61

Not really a big reader but interested in crypto


My Cryptocurrency Journey (Part 1)
My Cryptocurrency Journey (Part 1)

I started in cryptocurrency in June 2017 when the last bull run was in its final 6 months big run up (although I didnt realise that at the time). My portfolio of about £3000 had reached a total of approx £27000 but unfortunately I didnt cash out so this is presently (5/1/20) worth 50% of my original investment but I am hoping an upturn is underway and I will be back in a profit. I will in next part give some thoughts and tips for newbies (who dont intend to learn technical analysis and day trade).

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