Cryptocurrency has been around for more than a decade and still counting. Yet, only a handful of people have adopted this life-changing technology.
By adoption, this refers to the number of people who own (hodl) digital assets (crypto), the number of people who transact or trade crypto, and/or the number of people who maximize the myriad opportunities available in the crypto and blockchain industry.
A report shows that only about 295 million people have embraced crypto. This was as of December 2021. Comparing this number to the 7.9 billion world population, you will see that, not up to 5% of the world's population has adopted cryptocurrency.
Wondering why it is so? You'll soon find out.
However, the few crypto enthusiasts, who have opened their arms wide to the technology, will always point out that it is a very profitable industry to be a part of.
Based on my research, I will be sharing with you three (3) reasons some people are yet to jump on crypto. Funnily enough, two out of these three reasons are misconceptions.
The Why Behind Some People's Crypto-Unfriendliness
(1) Perceived Difficulty and/or Complexity
One of the core reasons some people are still very far from crypto is because they feel and assume crypto to be too difficult and complex to understand. Is this true? Absolutely not!
Yes, there are areas in the crypto space that may be a bit complex to understand when looked at a glance. However, the general concept on which cryptocurrency revolves around can be understood by anyone willing and open to learning.
You will never know how simple and easily comprehensible crypto technology is until you get closer to it. As long as you keep staying distant, it will continue to appear like highly-complex puzzles.
Everything appears difficult until it is being taught. Sewing clothes appears difficult until you have learned the art. Similarly, driving a car looks impossible until you sit behind the steering to be taught. The same applies to crypto and blockchain technology.
Every crypto expert today started with zero knowledge. No one was born a crypto guru. The magic only happens when you devote your time to studying and learning the underlying principles and concepts. Hence, crypto can be learned and it can be understood. Stop assuming and start learning.
Good thing is, you have the internet where you can find myriad materials both in written and video formats. You should take advantage of that. Better still, find a mentor to guide you in the journey.
A wise man once said, "if someone did it then you can do it too." I add, even if no one has done it, be the pacesetter. In other words, it is possible to learn and understand crypto.
(2) The Issue of Capital
Another common reason discovered during my research is that of capital. It will surprise you to know some people are crypto-unfriendly because they assume huge capital is needed to venture into the space. This too is a misconception, if you ask me.
While some say they don't have capital, others lament about low capital. Capital isn't the primary gateway to crypto rather knowledge is. Simply put, knowledge is capital.
It might interest you to know that there are various ways to earn in the space without having to invest a penny. Many successful people in this space today started with zero-cash. While some leveraged their skills to make money, some began earning through volunteering while some ventured into the hunting of airdrops, etc.
On the topic of low capital, I'll like to point out that getting started in crypto doesn't necessarily require thousands of dollars unless you can afford it. Start with what you have, apply the right investment knowledge as well as strategies, and watch it grow into huge amounts.
(3) Lack of Right Knowledge
It is possible to learn something wrongly or better still, it is possible to possess the wrong knowledge about a thing. One of the reasons some people are still crypto aliens is because of wrong information.
It is funny how some people say crypto is a scam. Some even say it will crash and won't last. This only shows the level of ignorance. Well, you can decide to remain in that school of thought. However, it is best to dump such a mindset.
The moment you get the right and accurate information about crypto and blockchain technology, no one will tell you to get on board. For this reason, it is important to get the right crypto education. Dig deep to know what this technology stands for and the accompanying opportunities.
Conclusion
Since the inception of crypto (bitcoin) in 2009, the technology has only been growing and expanding. Also, the development seen in the space is unmatched and a never-ending process. In turn, this speaks volumes about sustainability.
Very importantly, crypto and blockchain technology has brought a better way to handle finance when compared to the traditional financial methods. It has reshaped the world of banking and finance favourably.
Above all, it has brought diverse earning opportunities on a platter. Permit me to say that, you may be missing out on something huge if you still believe that crypto isn't the future of finance.
I hope you found this useful.
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