Cryptocurrency

Maybe because you have heard and known cryptocurrency, is the sole reason why you take it for granted to be a simple thing. It is not as simple asuch but an intrinsic thing.

I first heard about cryptocurrency a couple of years back. I almost jumped out of the skin as I knew nothing about it though I had earned some coins. Bitcoin was something new and just dropped out of an alien world. So I was confused and flabbergasted. Yet I was bent to learn.

I learnt about blockchaim and how it works I got to know cryptocurrency was  digital money and were not controlled by central banks and individual countries. Cryptocurrency was a global thing.

Why cryptocurrencies have not been embraced by many people.

• Ignorance. Ignorance is a disease. There are people who do not in any way want anything to do with cryptocurrency. They are ignorant about them. Talk of bitcoin, ethereum, Litecoin, dogecoin and others, and it is as if you are talking Greek to an old Turkana lady from Kenya. They understand more about cattle and their products.
• A mystery. Cryptocurrency remains to be a mystery to many people. These people know they do exist but to them it is something like a mystery. It is some sort of voodoo or black magic. How can money be digital and not tangible.
• Associate cryptocurrency with Devil worship. There are people who do not want to touch cryptocurrency in any way. They do not want to associate with anything to do with the devil. They link digital money with being satanic. How wrong they are. Theirs is a myth and do not in any way come any near the truth.
• Hard to mining. Some cryptos are hard to mine. They need heavy machines and much land in order to mine them. This has dettered most people from mining and owning crypto.
• Too Expensive to purchase some cryptocurrency. Yes, some cryptos have escalating prices that make many afraid to try to own them.
• Fear of being scammed. There are people afraid of being scammed and losing their hard-earned crypto.
• Bans of cryptocurrency in some areas. Some areas do not support crypto. These countries do not assist in people embracing cryptocurrency.
• Locking of cryptocurrency by some owners to have the price go up. There are crypto owners who lock up their crypto so as to create scarcity and thus increase in value or price.
• Confusion of which is the best crypto. Some people are confused. They do not know which ones to invest in.

Thanks for reading.

https://www.publish0x.com/?a=jnegp0Eraw