Things that turned off people from cryptocurrency

[rby]

I know a lot of people will place emphasis on volatility and even scams. Well, they are right. A lot of persons who are running away from crypto because of these reasons simply have trust issues.

They don't trust the person who is introducing crypto to them.
They don't trust the system to be able to double their investment capital.
They just don't trust the whole thing.

Well, we won't blame them, especially now that the crypto space is flooded with scammers and pump-and-dump coins. Not many have the willingness to take such obvious risks. I don't blame people who do not find crypto attractive; they have their reasons, and if they are comfortable with it, it is better than falling into the wrong hands all in the quest to invest in crypto.

[electronicash]

I know a lot of people will place emphasis on volatility and even scams. Well, they are right. A lot of persons who are running away from crypto because of these reasons simply have trust issues.

They don't trust the person who is introducing crypto to them.
They don't trust the system to be able to double their investment capital.
They just don't trust the whole thing.

Well, we won't blame them, especially now that the crypto space is flooded with scammers and pump-and-dump coins. Not many have the willingness to take such obvious risks. I don't blame people who do not find crypto attractive; they have their reasons, and if they are comfortable with it, it is better than falling into the wrong hands all in the quest to invest in crypto.

scams just turned of f those newbies who are trying to make money from the newly launched projects.

what turn off the old investors from coming back to crypto is the cycle itself. after every bull run the bear market has to start also and before it does something will happen like a program being lit like tariff war.  or in the 2021 case, FTX collapse. back in 2017 there was crypto banning of ads. it always has something that will drag the price down.

[Crypto Library]

In your view and experience, what stops people from joining us in this industry?

I think people stay away from joining here because of lack of proper knowledge about cryptocurrency. For example, in my country, many people still think that crypto trading or cryptocurrency is only involved in illegal activities and they call trading directly gambling.
It seems that most of them only say those things on social media or in the country's mainstream news media, creating negative visualizations about the crypto world.
It is true that there are fraudulent and scams in the cryptocurrency world but if we think about it a little then this is also the case with our real world or fiat currency. But due to lack of proper knowledge we do not join here by blaming only crypto currency.

[LogitechMouse]

In your view and experience, what stops people from joining us in this industry?

misinformation
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and lastly until now misinformation is rampant about crypto when you ask someone why they do not like crypto i guarantee you they will say it is because they think it is a scam

This one is for me, one of the main reasons why there are less people that are into cryptocurrency right now.

I mean yes, there are lots of information that can help us learn something for free, but the question is that are they the real information that we need? There  has been lots of misinformation happening especially online. I've seen videos where the person who is talking on that video is spreading false information. I've seen influencers leading their followers in the wrong path, and instead of learning, they're ending up losing because it's either they invested in a coin that this influencer has recommended, and it ended up as a scam coin, or they just simply panicked.

Scams are everywhere, and we can't eradicate it that's we always say to the newbies that before investing, they should know at least the basics of crypto, and how to prevent getting scammed.

[Faisal2202]

So what are the things that turn off people from get involved with cryptocurrency? According to this article, there are 9 big reasons why there is a great barrier barring people to get here and enjoy the benefits of investing money in cryptos. Personally, I believe that the many scams and frauds associated with the use of cryptocurrency somehow made people think of the possible risks of getting inside. Then we know that this is still a young child of an industry so there is that lack of clarity related to regulations especially on protecting investors.

In your view and experience, what stops people from joining us in this industry?

This really is a big factor, last year the scam money was in the billions, and this year the scam and hacks are bigger than the previous year. With time, these hacks will increase and that's for sure, don't know why I have this feeling, but maybe due to the government's influence, this will reduce a bit but Lazarus group is more active than before.

Many either hesitate to invest in this, as they think they can't take the responsibility of holding their funds, as with banks, they know they have insurance and etc. but here with the keys in their pockets, they can't hold the weight I guess, even the amount is small. Like El salvador, people should be motivated by some small bonus in BTC form by the government.

[joniboini]

I'm not following the hack/scam data closely, but if the number increases, we can also interpret that as more people entering the market. I think we can also look at TVL data or something similar to compare them, but I do not doubt that the number of users has increased compared to 2-3 years ago. That being said, I do think the younger generation is more likely to learn about crypto than those in their +40s. It doesn't help that some mainstream entertainment channels for them (like vtuber, content creator, etc) sometimes describe crypto inaccurately. CMIIW.

[libert19]

Until there is crypto that's completely feeless, mainstream adoption is impossible . Why should I use crypto with fees when I can pay with fiat that's completely feeless?

(there are cryptos like eos/tron which allow you to have free transactions but you have to stake coins first, so those don't count).