What are your reasons for adopting cryptocurrency?

[suzanne5223]

I pretty much got thrown in it about 9-10 years ago.

Was in Japan at the time and offered a service to buy stuff on demand. 1 guy contacted me about buying some stuff from several flea markets as well as Japanese Pokemon cards  .

When we discussed payment he suggested he could pay in bitcoin, which I never heard of actually. Since bank transfer was a pain in the azz and I didn't trust Paypal I thought ok, let's do it. It wasn't a high amount so I thought it's a good experiment. Well everything worked out and I made some more deals with him, always getting paid in btc.

Only "problem" was , I sold my btc WAYYYYYY to early, after they went up 50% . The price at the time was around 100$ for 1 bitcoin.  . Well done.

There's always a solid reason behind the reason why everyone chooses to adopt cryptocurrency. Mine is through a wrong investment in a certain altcoin which was introduced to me by someone I respected so much and I later learned about Bitcoin after making a loss through the altcoin investment. It is not something easy though because I had through a lot of emotional healing before I could come back into crypto and that's why I was able to understand newbie's negative statements about crypto when their first experience was sour.

Having said that, I am curious how the guy was able to convince you with payment of currency you hardly learn about.

[AHOYBRAUSE]

Having said that, I am curious how the guy was able to convince you with payment of currency you hardly learn about.

Long story short, I checked the recent price chart and saw the price is steadily going up at the time. So I thought, why not, let's give it a try. I had no clue about any crypto, just saw that it has value and can be sent instantly.
So basically he didn't have to do a lot of convincing to get me on board. And like I said, it wasn't a lot of money so the risk was ok for me.

From that point I never regretted starting with it, only selling too early at several occasions.

[TelolettOm]

Like the many hoard of people who have found Bitcoin to be an ideal source of an investment I aslo choice this because of the it's power of store of value . Bitcoin is a digital currency which one can use to pay online for all sought of commodities but many people today just prefer buying it and actually holding it.

Not sure whether Bitcoin is an ideal investment or the right place of store of value, but people prefer to invest in Bitcoin because the value is growing constantly. We can compare the prices of Bitcoin from one bullrun to another bullrun, we can find out that there is a significant increase of its price. That becomes the motivation of everyone who decide to put their money on Bitcoin investment. However, note that Bitcoin investment is  always high risk, there is no gurantee for profits and the price is very volatile. So, everyone who believes in Bitcoin must accept the risk consisting in Bitcoin.

Regarding the function of Bitcoin as a digital currency, it is still not available in each country. In my country, it isn't allowed to use Bitcoin for payment tools both for goods and services. So, don't assume that we can use Bitcoin for paying the all sought of commodities. Make sure it is legal on the country that we want to take the transaction with Bitcoin. We must avoid to use Bitcoin illegally that could lead to negative assumptions about Bitcoin.

[tokyohd]

What are your own reasons for adopting cryptocurrency?
[/quote]
I am adopt cryptocurrency for various reasons, including the potential for high returns on investment, decentralized nature, security features of blockchain technology, international money transfers, privacy, and as a hedge against traditional financial systems.

[legendbtc]

Not sure whether Bitcoin is an ideal investment or the right place of store of value, but people prefer to invest in Bitcoin because the value is growing constantly. We can compare the prices of Bitcoin from one bullrun to another bullrun, we can find out that there is a significant increase of its price. That becomes the motivation of everyone who decide to put their money on Bitcoin investment.

Bitcoin is quite volatile, how can it be called a store of value, volatility is more suitable to be an investment. If we talk about store of value, I think there is no better asset than gold in that respect.

However, note that Bitcoin investment is  always high risk, there is no gurantee for profits and the price is very volatile. So, everyone who believes in Bitcoin must accept the risk consisting in Bitcoin.

Not only with bitcoin, any investment will be risky and there is no guarantee of profit, including gold or real estate. Everything has risk and the higher the risk the higher the return we cannot expect high return but low risk.

Regarding the function of Bitcoin as a digital currency, it is still not available in each country. In my country, it isn't allowed to use Bitcoin for payment tools both for goods and services. So, don't assume that we can use Bitcoin for paying the all sought of commodities. Make sure it is legal on the country that we want to take the transaction with Bitcoin. We must avoid to use Bitcoin illegally that could lead to negative assumptions about Bitcoin.

It is possible that in the future bitcoin will be accepted by some countries as an alternative means of payment in addition to fiat currency. But for it to become a universal means of payment, I really doubt it.

[cafter]

I am a student, I was looking for a way to make money or grow existing capital. I was initially thinking that crypto is something digital money where I can invest my money and it will automatically  grow in 2×,3x in less time.
After after registering on this forum my view is totally changed on cryptocurrency and bitcoin.
You need to ask that question to major people who doesn't understand anything about crypto. Like anonymity, decentralisation, blockchain, etc.
And we cannot ignore 'for making money'

[fruktik]

I am adopt cryptocurrency for various reasons, including the potential for high returns on investment, decentralized nature, security features of blockchain technology, international money transfers, privacy, and as a hedge against traditional financial systems.

Have you yourself ever made transfers using cryptocurrencies? If yes, what crypto projects were used for this? And then many write that the security of transactions, but they themselves have never done this. Most likely, there are those who have high ranks, but have never encountered this. I really want to know what kind of coins people prefer in order to be aware of the current trend.

[dothebeats]

I am a student, I was looking for a way to make money or grow existing capital. I was initially thinking that crypto is something digital money where I can invest my money and it will automatically  grow in 2×,3x in less time.
After after registering on this forum my view is totally changed on cryptocurrency and bitcoin.
You need to ask that question to major people who doesn't understand anything about crypto. Like anonymity, decentralisation, blockchain, etc.
And we cannot ignore 'for making money'

Well, that is definitely the most common misconception that a lot of people have for Bitcoin and cryptocurrency in general -- investing will give profit that will grow around 2 to 3 times the money initially invested. This is also why there is a negative image and idea surrounding crypto because people think and feel like they were scammed or fooled when they did not get the profit they expected to get in such a short amount of time, which is actually a result of them not learning and doing their own research about how the system actually works.

Glad that you realized this early though, happy that the forum helped. Just always remember that the opinions, suggestions, and advice being given here in the forum that you want to apply to your own decisions, actions, and self should always be backed by either your own research or their credible resources, that way you'll be confident to know that you are not just getting random spills.

[posi]

I am a student, I was looking for a way to make money or grow existing capital. I was initially thinking that crypto is something digital money where I can invest my money and it will automatically  grow in 2×,3x in less time.
After after registering on this forum my view is totally changed on cryptocurrency and bitcoin.
You need to ask that question to major people who doesn't understand anything about crypto. Like anonymity, decentralisation, blockchain, etc.
And we cannot ignore 'for making money'

Well, that is definitely the most common misconception that a lot of people have for Bitcoin and cryptocurrency in general -- investing will give profit that will grow around 2 to 3 times the money initially invested. This is also why there is a negative image and idea surrounding crypto because people think and feel like they were scammed or fooled when they did not get the profit they expected to get in such a short amount of time, which is actually a result of them not learning and doing their own research about how the system actually works.

Glad that you realized this early though, happy that the forum helped. Just always remember that the opinions, suggestions, and advice being given here in the forum that you want to apply to your own decisions, actions, and self should always be backed by either your own research or their credible resources, that way you'll be confident to know that you are not just getting random spills.

Even as newbies we have those thoughts, not just newbies these days and that's normal. But after entering the market and if someone is really serious with his investment. Gradually they will realize that getting rich quickly with cryptocurrency is not easy and people will gradually change their long-term plans.

In general, it is impossible to get rich in a short time with cryptocurrencies, but we cannot deny that investing in crypto will give us the opportunity to get rich faster than other financial markets. High returns and shorter waiting times, that's why we choose bitcoin over gold or real estate.

[Blitzboy]

Pls not all cryptocurrency has the potential  for one to adopt so you need to be specific  and use the word bitcoin. My reasons for adoption of bitcoin is that.
1. It gives financial freedom and can be used across boarders without a third party.
2. I also use it as an investment and a store of value. As an investment, you will see it that bitcoin is the most valuable investment that one can make a good profit from, if you can hodli you bitcoin for a long term. For store of value,because fiat is depreciating in value daily due to inflation but bitcoin is inflation resistance.
3. Bitcoin is the future gold because soon people that have bitcoin will be the richest or most wealthy people in the world as long as they only keep on accumulating their bitcoin.

You make some intriguing observations regarding Bitcoin's benefits. As if we were children in the 80s, we are debating whether these "computer" devices are worth the trouble. Who is chuckling now that time has passed? Remember the days when everyone used gleaming objects as currency? History tends to repeat itself, but with a digital twist this time.

However, it is important to note the potential volatility and risks associated with Bitcoin, despite the fact that it does offer unique benefits. Simply some fodder for thought: What if the entire "bitcoin-is-the-future-gold" concept is humanity's way of assuring that even in the digital age, we have our own "shiny objects" to pursue? Perhaps it has less to do with Bitcoin and more to do with our age-old attraction to shiny objects, whether physical or virtual. Alternatively, perhaps Im just feeling a touch lonely because Im remembering the past.

[JunaidAzizi]

Lately majority of people find theirselves within the crypto space, but many of them do not really understand the actual reasons for adopting crypto currency other than to make profit, what are your own reasons for adopting cryptocurrency?

Well, I do not believe that the person who is in the cryptocurrency and doesn't understand why he adopted it, Every person who adopts cryptocurrency knows why he is in. If I take myself to know why I am in cryptocurrency, there is a lot of reason but I am telling you one of them. If I did a job the whole day and made money and saved it in the bank and gave the authority of my money to the bank or what if the government printed more money and devalued it, so instead of giving my money to the bank I prefer to invest it and make more money instead of lying it in the bank, Also cryptocurrency provides international transaction so this is another reason for adopting it and there are much more reasons but I think this is enough.

[icalical]

Well, I think it's not wrong that most of people adopting crypto solely to increase their profit. In my experience as a freelancer compared to other payment method, crypto generally have less fee that reduce the amount of money, not to mention that it also a lot faster and required less process. That make me get more 'profit' meaning I pay less to the third party, and that's the main reason I use crypto.

As a crypto adopter, you should also look at how your government regulates crypto adoption.
If the regulation is only as a commodity you cannot make payments with crypto.

Yes sure, my client mostly is international client, so it's the same as when I accept USD for a payment. But instead of USD I use BTC and some other cryptos. I will still need to swap it to my local fiat and then withdraw it to my bank account so I can use it to buy stuff. I never buy any local goods or service with crypto, no one accepting crypto in here anyway.

[laris2]

It started out as a random thing, but over the time it gives the flexibility of being non dependant on traditional institutions.

Can I live without money in my bank account? Probably not, but in any case this is a portion of funds allocated for situations when i need to be in control.

[yazher]

Back then I didn't really know about it and just didn't care but as soon as I read some information and topics regarding cryptocurrency, I got curious and wanted to learn more. Until I became an investor myself and wanted to help others if they wanted to really know the truth about it. I am also good at explaining it to my friends and family so they rely upon me when they want to know about certain investment opportunities before doing it themselves.

[Bushdark]

I am adopt cryptocurrency for various reasons, including the potential for high returns on investment, decentralized nature, security features of blockchain technology, international money transfers, privacy, and as a hedge against traditional financial systems.

The adoption of cryptocurrency have help us to see the differences between regulated currencies and decentralized ones. Since the beginning of the expansion of Bitcoin, the Crypto the world have started seeing changes in the way we ought to preserve our investment in a way that we don't need a third party to help us process our funds.

 Cryptocurrency have made so many people make huge profits the ones that were ignorance have no choice than to face the result of there actions. The bad guys have made crypto look like it is meant for illegal activities but the difference is clear. If we are able to study the Market and make a diligent investment without being too greedy, we are going to have so much benefits from the Crypto market with undergoing any stress.

[suzanne5223]

Having said that, I am curious how the guy was able to convince you with payment of currency you hardly learn about.

Long story short, I checked the recent price chart and saw the price is steadily going up at the time. So I thought, why not, let's give it a try. I had no clue about any crypto, just saw that it has value and can be sent instantly.
So basically he didn't have to do a lot of convincing to get me on board. And like I said, it wasn't a lot of money so the risk was ok for me.

From that point I never regretted starting with it, only selling too early at several occasions.

Yes, you said the money involved is not that huge but you seem to already be a person who loves to try new things because despite the money involved is not huge some people can use their new technology that's yet to get enough support and awareness because we talking about the years when Bitcoin is still 5years old.
I know you won't regret starting it and that's why I wish I had the chance you had that time. 

[Bitcoinpoly]

Lately majority of people find theirselves within the crypto space, but many of them do not really understand the actual reasons for adopting crypto currency other than to make profit, what are your own reasons for adopting cryptocurrency?

what must be the reason for investing aside from earning or profiting ?
isn't hypocrite to say that we are not here for money?

though we can say that we can use it for something more appropriate but how can we deny the idea that there are forms of making money inside?

but for me the main reason of adopting crypto is that I can have funds away from government , and also I can use some of it to gamble and pays online transactions easily .

Have you tried to use any passive income option like flexible savings? It’s actually a good one and it helps users to make profit passively, few exchanges has it though, the likes of Bitget and some other small exchanges

[Bitcoinpoly]

Is gaining profit the wrong answer here? last time I checked everyone was still so inclusive of whatever reason you're in for bitcoin. Didn't know you guys are now shitting down on "for profit" people just cause they don't send as much "noble messages" as the "for development and building" guy.

I'll proudly say that I'm here because of the profits. I don't think there's anything wrong with that especially if you're playing you're cards right. I get that we're hating on the paper hands out here that sell at the first sight of a dip but at the same time, you can't really blame them, they entered bitcoin like the most of us, without prior knowledge about it besides what we got.

Yea I totally agree with you on this to be honest.

[Bitcoinpoly]

Lately majority of people find theirselves within the crypto space, but many of them do not really understand the actual reasons for adopting crypto currency other than to make profit, what are your own reasons for adopting cryptocurrency?

I realized that I first entered crypto because there are those who show off the benefits of crypto often appearing on my twitter and youtube homepage, these influencers provide visuals that are quite disturbing to the eye. so that ordinary people will continue to look for information even by buying crypto even because they are tempted by large profits. We don't realize that they have been given income for free and don't buy from their promotional services, of course they will get lucky even if the price falls bearish because they don't think about the capital spent. the positive side is being able to get to know crypto and continue to learn until now. also the negative side is that there is a sense of continuing curiosity when the price drops for the first time with its high fluctuation.

It’s really tough to still choose to continue even when there is a bear market like this.

[Bitcoinpoly]

Cryptocurrency is a really good investment for me. So far my crypto journey has been worth every investment I have made starting from 2015, so I wouldn't say that I regret anything. I got to know about Bitcoin myself while doing some research, and since I'm the type of person that's always interested in tech stuffs, I found it very interesting and decided for myself to be part of it.

Wow that’s great, did you use a CEX or DEX all this while I mean making investments and getting a lot of profits is it on CEX or DEX?