What do you fear the most about crypto

[svetlana]

Perhaps from the fears that may be associated with cryptocurrency, I would single out the fact that you can completely lose access to your wallet and the inability to restore access to it

Oh yeah. This is a very serious problem, since data cannot be recovered, and money cannot be returned either. And, in order to avoid the loss of all money, you need to start several different wallets and store your coins on them.

[tsakf]

Oh yeah. This is a very serious problem, since data cannot be recovered, and money cannot be returned either. And, in order to avoid the loss of all money, you need to start several different wallets and store your coins on them.

Yes, very well said. Not all the eggs, in one basket. Different cryptocurrencies, and different wallets, is a must.

[atjiat]

 The fact is that if you keep your assets in the highest rated cryptocurrencies, then you shouldn't worry about their prospects. The value of cryptocurrency will only increase. The main thing to worry about is the safe storage of your assets.

[Rubel007]

There are many reasons to people fear about cryto but the common three reasons for people fear that I discuss here.
1. People Don’t Understand It:
People generally fear what they don’t understand. It makes sense, then, to learn all you can about the subject you are afraid of.
First, let’s define cryptocurrency. There are several different definitions when you look the word up on the internet. But to put it simply, it is a digital asset protected by encryption that can be used in financial transactions.
Exchanges of money using cryptocurrency are not done by transferring paper money or metal coins back and forth, though. Cryptocurrency can’t be held in your hand. Instead, transactions and monetary exchanges are completed through computers, which is where cryptocurrency exists.
2. It Isn’t Legal Tender:
Cryptocurrency is currently not classified as actual legal tender by the United States government. This may be another of the reasons people fear cryptocurrency.
Another reason people have to be afraid of cryptocurrency is because not all countries presently accept it. Nevertheless, the number of countries agreeing to accept it is growing.
But let’s backtrack to our current monetary system to get down to why people shouldn’t fear the current classification of cryptocurrency.
Until 1971 the US Dollar was backed by the gold standard. Once former President Nixon announced he was taking the gold standard away it became backed by fiat only.
In other words, the dollar still had value because the government said so.
Going back to cryptocurrency, the same thing could hold true. Even though the government doesn’t back it, we as a people can deem that it holds value because we said so.
3. Cryptocurrency May Lose Its Value :
An additional reason people fear Cryptocurrency is that it could lose its value. There is no question it has had its ups and downs in the market for investors over the past few years.
In comparison, gold values have remained steady during the same time frame. But even though it has seen sharp increases and dramatic dips, most likely it is here to stay.
The reason it may stay is because the transactions made using is are more secure than the ones using our current, government backed legal tender. It is difficult to forge, hack, or steal. Those attributes are just why it was created and why it will stick around.
There have definitely been changes in technology in the past decade or two, the emergence of cryptocurrency among them. But people need not fear it. Rather they should learn about it and embrace its continued use.

[Quantum X]

The fact is that if you keep your assets in the highest rated cryptocurrencies, then you shouldn't worry about their prospects. The value of cryptocurrency will only increase. The main thing to worry about is the safe storage of your assets.

Exactly! Though there are times you feel worry but this is the day where all crypto currency is under bearish condition. The wallet should need to use is hardware wallet for high security if you invest in top cryptos.

[StreakW]

The most I fear in crypto is hacked, If scam project we can prevent it by only choose top project/top coin but about hacked is so scare..

We must do everything to safe our assets

[tervel]

Individuals by and large fear what they don't understand. It makes sense as well, then, to get familiar with everything you can about the subject you fear. most of people’s fears about crypto relate where certain technological problems can be fixed with a little bit of education.

[kent47400]

Flash Dump and Pump.

If we trade in futures aka when those two words occur we will feel a deep fear.
After the fear is there, there will be a loss of money.
Losing money will upset me because I hate it when I lose my money in my wallet.

[IyemRoker]

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Yeps is absolutely right!
Hacking is what we are often afraid of because with the insistence that all coins in the form of our assets can be stolen, lost and we can turn poor.

As much as possible we should be able to store passwords, private keys, authenticators or anything related to our security.
Because if only one of them is lost, all of our coin assets can be and we will fall into poverty.

[Callisto]

Most of all, I am afraid that the world of cryptocurrency will disappear, because this world is really very interesting, which can bring passive income. Therefore, this is the main fear about cryptocurrency.

[GREENch85]

Hacking like so many of us. After all, hackers are constantly improving themselves. And as we can see from the news, even Ledger and Trezor can allow data leaks (with all the ensuing consequences). Although I don't have many cryptocurrencies, I still don't want to lose what I got in my labors.

[aarif123]

In crypto I fear the most because of market dump I am in crypto space since 2017 in this three years of time I have seen so many dump in a matter of minutes.in the mid of March of 2020 bitcoin collapsed from $9200 to $3800 in just 5 hours many altcoins went down almost 500% that's why I always put stoploss and target price whenever I do trade.

[labonikhatun]

In crypto I fear the most because of market dump I am in crypto space since 2017 in this three years of time I have seen so many dump in a matter of minutes.in the mid of March of 2020 bitcoin collapsed from $9200 to $3800 in just 5 hours many altcoins went down almost 500% that's why I always put stoploss and target price whenever I do trade.

It is natural to be afraid in the crypto market because traders make a profit in the ups and downs of the market is not stable. But even if the price of the currency goes down if we wait patiently the price will go up again, in which case the profit will be doubled.

[Willitivity1]

The possiblity of watching my portfolio turn red always and not only turn red But slowly melt to 100 digits. from thousands of dollars to hundred and possibly to 10 because of a mistake of investing in a scam project i though may be fruitful. The crypto market is so slippery that you can loose your funds in a flash.
that is what i fear the most. loosing my money with minutes.

I also have this same fear of seeing a token/coin I'm holding deminish in terms of value, It's really painful, and the worst part is that you will just continue holding onto to it hoping the value of the coin will pump back up to a price that is more reasonable, this is the main reason why I also exchange my coins to a stable coin like usdt to avoid them loosing their value.

[Evgenklm]

I also agree with the author, the biggest pain is when the investment portfolio decreases in price and is close to the value of 0. My phobia is also hacking accounts or mail, once my mail was hacked and all funds were withdrawn from the exchange, that's probably what I'm most afraid of.