[bMisinformation : [/b]This has been a major problem affecting cryptocurrency in general. Certain crypto enthusiasts tend to disseminate incorrect information, especially regarding investment and profit making. They choose to neglect the risks associated with cryptocurrency, thereby putting someone's investment at risk. When things go wrong, the investor becomes a victim and starts condemning cryptocurrency in every way.
Misinformation is one major thing that is preventing the global adoption of cryptocurrency. It might not be among the most important ones to mention, but it's effect is negative in the cryptocurrency industry. When I was a newbie, I was evicting of misinformation. If not for my resilience and the persistence, I would have dropped out of the cryptocurrency industry prematurely. When I first knew about Bitcoin, the price was below 8,000 dollars, but someone who introduced me into cryptocurrency misnformed me that bitcoin was so high for me to purchase that I should rather go for other coins with lower price. I used a lot of money to buy what I later discovered to be shitcoins. On the long run I lost everything and bitcoin moved all the way from below $8,000 to above $50,000. That was when I realised that I met bitcoin early and assuming I started DCA then, I would have owned atleast 0.5 BTC.
It is this same misinformation that makes newcomers open account with centralized exchanges and began to use them as wallet because they do not know the implication. So anyone who was misinformed and there was no effort to correct the misinformation would likely exit the cryptocurrency industry and term it to be a scam.