Factors that's why others are hesitant to start in crypto

[Z390]

Fear and Lack of knowledge are the most important part of crypto that many beginners are facing and because there are many scams in this space people are still feeling unsafe with crypto investment, it's not a place where anything is guaranteed even while it's full of many opportunities.

Crypto is for the strong ones that believes in 'no risk no reward', if you are ready to take some risks you will be find your way in crypto and make some money, but still there are many factors that could cause losses, you need to do your research and make sure that you put your money into projects that worth investing your hard earned money on.

[isaac_clarke22]

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To be honest, back then I also thought that Bitcoin was a scam, OP other than also an illegal currency used in the dark web since I was curious to the whole dark web thing back when I was a teenager.

Lack of knowledge depends on where you plan to be in crypto. Do you fancy the technical stuffs? I love to program however blockchain programming isn't one of those specialization that I really love to deal with. I am more of web app guy with interest also in dealing with games using Unreal Engine, lol.

For mentoring and resources, considering that these are all virtual, I don't think that many people would aim for mentoring. There are a lot of free resources out there in Youtube. I even learned day trading from a single Youtube channel (ain't gonna mention it at this instance as I ain't promoting any channels, lol).

OP, I might add a few more things from my practical experience here.
Local media in my country very often write negatively about crypto, and often give examples of how someone lost money investing in crypto or was scammed.
Even government financial regulators and banks often send out press releases warning of the dangers of crypto investing.
For the average person without much financial experience and education, these are quite enough reasons to give up investing in crypto.

Here also in my country, although it is just warnings and no bans. Even a single bank in here are allowing crypto transaction, although I think that would be just for a short-term considering how many scams happen using crypto.

[uchegod-21]

These are the things that make people hesitant to learn and start in cryptocurrency:

• Scam - When i first told my friends about crypto they ignored me and say its a scam

When I read this, I had totally different thing in mind about the scam but after reading your own, I decided to still share with is in my mind.
People who already got into cryptocurrency who are not careful ends up being scammed in cryptocurrency and if that be a newcomer it might discourage them and they will stop their cryptocurrency journey.
Scam is something that is eminent in the crypto and even here in the forum, there are scammers before scam is not moderated here.[/list]

[Franctoshi]

These are the things that make people hesitant to learn and start in cryptocurrency:
Scam.
Fear.
lack of knowledge.
Mentoring
Money
Resources

Money, scam and fear contribute a lot as a major deterrant. Really People don't want to get started because some still think that crypto is a scam and so they want to avoid getting scammed due to various scam news around crypto each day, then while the people that has no fear to start investment or start learning don't have the money or capital to start with even for serious minded persons who are willing to set away fear and learn, money has become a very big challege thus can take people more years to start because some don't have that spare money or money which they can afford to lose to being with.

[BitDane]

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Let me point out one very important point among the points you listed which is about the importance of money to a newbie, there is no way a newbie will earn money from cryptocurrency without the direct investment of money because there is no longer free money anywhere so no one is going ditch out money to a newbie unless their earn it or buy and hold only in exceptional cases you see newbie be earning money without directly investing which is that the newbie will have marketable skills and render service in that regard to get paid with bitcoin.
So even if the newbie doesn't invest money directly,  he will have to invest time and effort in providing such services to get paid for it, that is why marketable knowledge/digital skills are very important.

Have you looked at your signature space while telling us that newbie's only option is to directly invest money to earn cryptocurrency?  Aside from money investment there are other way of earning cryptocurrency.  One can offer his skills by doing freelance job, another one is joining campaigns, you can see many of those in the forum's altcoin bounty or they can offer services in exchange for cryptocurrency as payment.

Although spending money directly is the fastest way to acquire cryptocurrency, the option is not limited to that.

People don't want to know and learn about crypto because there is a fear of stepping into something new that might change for the better. I've met people who didn't want to know new things and to be able to give them a chance to get better. And I also don't force them to follow me because that is a choice.

I think fear is also one of the motivating factor of learning.  The fear of losing will push a person to study the venture deeply so that he can avoid it(losing).  I think the more probable reason people don't want to know and learn cryptocurrency is because they are lazy to do it.

I agree that forcing them to follow our lead is not the best move.  We should let them decide for themselves forcing them to do things often times have a bad result.

[michellee]

People don't want to know and learn about crypto because there is a fear of stepping into something new that might change for the better. I've met people who didn't want to know new things and to be able to give them a chance to get better. And I also don't force them to follow me because that is a choice.

I think fear is also one of the motivating factor of learning.  The fear of losing will push a person to study the venture deeply so that he can avoid it(losing).  I think the more probable reason people don't want to know and learn cryptocurrency is because they are lazy to do it.

I agree that forcing them to follow our lead is not the best move.  We should let them decide for themselves forcing them to do things often times have a bad result.

People can overcome their fear by learning more to understand that crypto is not scary. Once they understand more about crypto, they will see the advantages they can get through crypto by investing.

I just assume that if they don't want to start investing in crypto, it is because of their ignorance and not being able to accept new things. We may have met people like that and let them continue their actions.

And one day, when their minds are open and they can accept Bitcoin or crypto and come to us asking for further explanation, we can help explain it to them. Apart from that, we still cannot force them and fully leave the decision to invest in them.

[Luzin]

I just assume that if they don't want to start investing in crypto, it is because of their ignorance and not being able to accept new things. We may have met people like that and let them continue their actions.

And one day, when their minds are open and they can accept Bitcoin or crypto and come to us asking for further explanation, we can help explain it to them. Apart from that, we still cannot force them and fully leave the decision to invest in them.

What I understood when I started out related to crypto is income.  But indeed from the beginning I have studied, the advantages and disadvantages that I can get. Another problem that makes me feel very confident is that I see real evidence of real results from the person who taught me. He's a good friend of mine and I know he's not going to lie with what he says. He said I manage my own funds with my own account without going through any other party. It also made me believe even more. What is certain is that my desire at that time was strong, I wanted to have another income from my hobby (computer).

Finally I survived until now, Bitcoin Crypto has helped my economy to date. There are some people who start but they don't stick around and eventually leave. One word for sure is desire and intention.   

[yudi09]

• Scam - When i first told my friends about crypto they ignored me and say its a scam
• Fear - since they thought crypto is a big scam, they fear they will just waste their time, and money investing and then wipeout after

What crypto is the first thing you tell your friends so your friends ignore it.
Incorrect delivery could have the potential for people to ignore it because there are so many types of crypto that up to now there are 10,174 types with different strengths.
It is natural and not wrong if there are people who are afraid to start in cryptocurrency because there is no certainty that they will get their money back amidst technological sophistication that makes it easy for people to get updated information, including about cryptocurrency.

It's a different story if the delivery is conveyed clearly about Bitcoin which has been proven to be one of the best cryptos out there among tens of thousands of types of crypto.

[ThemePen]

I want to add one more point.
Crypto Ban In The Country: Recently in my country Government has banned the Crypto so the people who don't know about crypto, when we deal or try to tell them about crypto they say this is ban so we don't do any illegal work. So we also face this problem in our country.  The social media make panic situation in the people so they don't buy or sell.

[BitDane]

People don't want to know and learn about crypto because there is a fear of stepping into something new that might change for the better. I've met people who didn't want to know new things and to be able to give them a chance to get better. And I also don't force them to follow me because that is a choice.

I think fear is also one of the motivating factor of learning.  The fear of losing will push a person to study the venture deeply so that he can avoid it(losing).  I think the more probable reason people don't want to know and learn cryptocurrency is because they are lazy to do it.

I agree that forcing them to follow our lead is not the best move.  We should let them decide for themselves forcing them to do things often times have a bad result.

People can overcome their fear by learning more to understand that crypto is not scary. Once they understand more about crypto, they will see the advantages they can get through crypto by investing.

I just assume that if they don't want to start investing in crypto, it is because of their ignorance and not being able to accept new things. We may have met people like that and let them continue their actions.

And one day, when their minds are open and they can accept Bitcoin or crypto and come to us asking for further explanation, we can help explain it to them. Apart from that, we still cannot force them and fully leave the decision to invest in them.

True, that is why I stated fear is a one of the motivating factors why people who are into investment do research, study and strive to be knowledgeable about the investment venture.  Once they learn about cryptocurrency, not only they learn about the advantages but also the risk involved when one decide to engage to such investment. 

Having the knowledge about risks involved, the investor then look for process and possibilities to mitigate risks.  Knowing how to deal with risk will give the investor a better chance of having a profit.


As for the reason why people are hesitant to start in crypto, I always think it is because of the lack of knowledge or lack of financial capability.  Things like being scammed, need mentor and fear happened because of lack of knowledge.  If we have the knowledge, we can avoid being scammed, or there is no need for mentor, and since we know what we are going through, fear more likely won't happen

[doomloop]

I want to add one more point.
Crypto Ban In The Country: Recently in my country Government has banned the Crypto so the people who don't know about crypto, when we deal or try to tell them about crypto they say this is ban so we don't do any illegal work. So we also face this problem in our country.  The social media make panic situation in the people so they don't buy or sell.

These bans and regulations are always a hurdle for Bitcoin and people obviously will take these seriously and think that Bitcoin is something bad if they don't already know much about it. Governments take Bitcoin as a threat to their own benefits that they get by imposing rules and regulations and following the financial activities of their citizens.

But as time goes on, these things will start getting away as more awareness will spread and people will slowly come to know that Bitcoin isn't something bad but it is a useful thing that can be beneficial for them in the long run.

[CryptoHeadlineNews]

These are the things that make people hesitant to learn and start in cryptocurrency:

• Scam - When i first told my friends about crypto they ignored me and say its a scam
• Fear - since they thought crypto is a big scam, they fear they will just waste their time, and money investing and then wipeout after
• lack of knowledge - since they don't have knowledge and they sometimes think it will be hard to learn, they loose interest in it, but in reality with lots of information over the web and with bitcointalk its really easy to learn something about crypto
• Mentoring - Although others don't need help from others some are don't have the courage to start on their own and need others to guide them although as i said,
  
  

In summary to all that you have mentioned above, I will say that the main reason why people are hesitant to start in crypto is their inability to take action, because only if they are willing to take actions, they will all get to understand that their is nothing to fear about Bitcoin, that it's not a scam and one don't need to be an expert before owing your first Bitcoin, as you can always possibly start by buying the amount you can always afford to lose if in case the market doesn't go as planned.[/list]

[nakamura12]

Crypto is indeed scam in some cases but if you talk about Bitcoin then it isn't a scam to begin with as you have known that it is the number one crypto. Being afraid of crypto is good to avoid losing money that you can't afford to lose. Lacking knowledge is not a big problem where you don't have to do anything at all until you are knowledgeable enough to start what you are aiming. Mentoring doesn't mean you always need help from others because not all will help you or they won't teach you everything if you are taught by someone you know personally unless you are learning here in the forum.

[Queentoshi]

• Scam - When i first told my friends about crypto they ignored me and say its a scam

Funny thing is people can be quick to assume that something is a scam when it is not, and these people will easily fall for what is a scam later because of how the people behind scams always package it.

• Fear - since they thought crypto is a big scam, they fear they will just waste their time, and money investing and then wipeout after

There is always fear whenever you learn a new thing that can be of profit to you, overcoming this fear and not letting it affect your decisions is a responsibility of yours.

• lack of knowledge - since they don't have knowledge and they sometimes think it will be hard to learn, they loose interest in it, but in reality with lots of information over the web and with bitcointalk its really easy to learn something about crypto

If you loose interest in trying to learn about bitcoins because you think it is too difficult for you to learn, you have on your own put a limit to yourself and you will certainly regret it.

[demonica]

I feel like it's not just about those things. For me, they are just not interested. Even if you're hesitant to enter crypto because of fear, lack of money, and knowledge, you will still try to learn about it IF YOU ARE REALLY INTERESTED. Even if you can't invest right away, you can still use the time to learn and discover more about crypto. However, most people who don't want to do that or exert effort in learning are just not completely interested. They would just say that they are scared, it's a scam, and other excuses cause we all know that we can avoid getting scammed if we are aware and careful. It can be learned. It's also normal to be scared at first but they just don't want to.

[CryptopreneurBrainboss]

I have seen others who really want's to know about crypto while their friends are into crypto and they are not, sometimes they don't want to teach their friends for a reason that they would earn better or more

I don't believe people feel there friends will do better than them that's why they're not teaching them how to go about the cryptocurency industry but they don't introduced them because they're trying to avoid been accused of scamming them because when things go bad, people are too quick to blame people that introduced them to the opportunity but fail to acknowledge those that introduced the opportunity that they succeeded from.  What I feel make people to hesitate investing on Bitcoin is because people that have the finances to spare.

Another thing is because of the reputation that the industry has to the general public. Many people know Bitcoin for been a scam coins used by scammers and hackers. Also people who are looking for quick richest are what the industry is associated with and people tend to stay away from this type of business due to the ugly experience they had with similar projects in the past.  Misinformation is among what is making people hesitate their involvement in the industry and they need enlightenment or such misinformation will keep on spreading.

[Sexylizzy2813]

Like we all know, Bitcoin is a new kind of digital asset that's gaining popularity every day and many people are sceptical before investing in it and there's a lack of understanding of the digital asset which is over a decade old. Cryptocurrence is a buzzword that is used by several financial companies who do not give extreme lecture to their customers and users.
Cryptocurrence is actually one of the most volatile investment in the world and the main reason it is volatile is because it's  tradew 24/7 that's to say it faster than any other market and it might take more than a year for a stock market to do that kind of trading crypto do in less than a month.
The price fluctuation in crypto also steep and the best example is that of 2017 when it rose from $1000 to $20000 but in mid 2018 it fell rapidly to $5000, that's to say is not stable, just going up and down when you least expected.
With all being said, it doesn't mean you should be scared of investing because investors have already started using crypto to their advantage by understanding the nuances of the market. Is just best to understand and have a plan on what you're getting into.

[gantez]

One of the major reasons I didn't get into crypto  earlier was because of the fear of being scammed and most times I try my best not to get to regret them because there is nothing I can actually do to change the last and some other  time, I also wish I can go back to time to buy bitcoin  even it was still on pre-sale but you know as they always say that you can't eat your cake and have it back.

I also have that fear in bitcoin business at the time I hear about it because I was told you can lose your investment if the price drop and so without having proper knowledge I didn't get that courage for it and many information of scam was on in internet all of that discouraged me. I didn't know much of bitcoin before joining here and this is the forum where most crypto professionals are that will help when you have investment challenges in bitcoin or altcoins. I believe that the time that has past will be regained with focus.

[AmoreJaz]

One of the major reasons I didn't get into crypto  earlier was because of the fear of being scammed and most times I try my best not to get to regret them because there is nothing I can actually do to change the last and some other  time, I also wish I can go back to time to buy bitcoin  even it was still on pre-sale but you know as they always say that you can't eat your cake and have it back.

I also have that fear in bitcoin business at the time I hear about it because I was told you can lose your investment if the price drop and so without having proper knowledge I didn't get that courage for it and many information of scam was on in internet all of that discouraged me. I didn't know much of bitcoin before joining here and this is the forum where most crypto professionals are that will help when you have investment challenges in bitcoin or altcoins. I believe that the time that has past will be regained with focus.

educate yourself and you won't be scared of this market. i guess, that's the lacking factor of most non-crypto users. they are afraid of something they don't know about. but once you start learning, you won't have that doubt anymore as you know what to do in this market to avoid potential losses.

[Kelvinid]

You have that all OP and what is happening around, from what they have heard in the news, rumors spread and reported scam exchanges, the more it influence their mind to think of not embracing crypto into their lives but rather remain on fiat. I would say that crypto is only for risk-takers, and we know that no all people have this kind of behavior, many are preferred to play safe despite knowing that risk-takers win more. No matter how we convince these kind of mindset, it seems not effective as they believe what it right for them.