What do you think is the biggest misconception people have about cryptocurrencies, and how would you clarify it?
Based on how I heard people criticizing crypto, they always expect that crypto could make them rich instantly. They believe that by merely investing in crypto, it will bring big changes in your life and totally change your status of living. That's how YouTubers have influenced their way of thinking, that crypto is a get rich quick. While in reality, it's not.
You could have lose a thousand dollars if you invest in crypto without prior knowledge. Same like you could have earned a million if you know how to invest in bitcoin well.
i guess, that's the usual notion towards crypto, a get-rich-quick path but later on, they will find out that it is not.
once they got in, they will see that there's more than meets the eyes and get disappointed because it is not what they expect to see in this market. most are blinded by reality because of some influencers showing they got loads of money out of their crypto investment. they thought they can replicate it quite fast.
and once their expectations are not met, they will spread negative sentiments to the public. as if it is the crypto's fault why they didn't get out with bags of money.
also, one more misconception is that crypto is majorly used by scammers, fraudsters and other illegal actors. this is why it is good that countries like el salvador makes btc as their legal tender because such negative notion is fading away because there are legal entities now that are already in this market. known personalities like elon musk is also i believe a great help to entice new users in this market.
