What Traditional Sales Can Teach Us About Trust in Cryptocurrency

[Otaibayomi]

Working in sales has taught me one thing: people don't just buy a product; they buy trust.

I've seen how difficult it can be to convince someone to try something new. I remember one of the experiences I had where I was a sales person for a multinational FMCG company to follow up with a customer that was disgruntled, for about 6 months I was on her without anything success but I didn't relent. I made it a point of duty to visit her twice every week, just to see her, ask how her business is doing  and repeat the process again. Overtime we became friends and she is still a customer today for over 7 years now.

 In crypto, I imagine the challenge is even greater because people are worried about scams, losing money, and not knowing who to trust.
You can make all the promises you w,ant, but once people feel deceived, winning them back is the most difficult thing to achieve.

I think crypto projects could do better by being honest about their risks instead of making everything sound like an opportunity to get rich.

For those in crypto, what makes you trust a project enough to put your money into it and when did you regret any investment?

[348Judah]

I think crypto projects could do better by being honest about their risks instead of making everything sound like an opportunity to get rich.

For those in crypto, what makes you trust a project enough to put your money into it and when did you regret any investment?

Bitcoin is the reason why I am considering cryptocurrency, therefore the moment you eliminate bitcoin then every other thing turns to become risk completely.

Therefore, there are factors we should consider about bitcoin and why we must always adhere to invested in it before considering for any other altcoins, everything about bitcoin comes with the uniqueness of privacy and security and at the same time being able to make more profit if considered for an investment, so tell me who we know or say about all this still withhold not to adopt Bitcoin.

[aoluain]

I think crypto projects could do better by being honest about their risks instead of making everything sound like an opportunity to get rich.

Lets call them what they are - $hitcoins are created precicely in order for the creators to get rich
and it goes the opposite to Satoshi's approach with Bitcoin.

Satoshi created Bitcoin for the people, it wasnt a get rich quick scheme, the proof is right there
in all the Bitcoin which remains untouched.

For those in crypto, what makes you trust a project enough to put your money into it and when did you regret any investment?

No trust in crypto $hitcoins, not while there is a person or group with a vested financial
interest is getting rich, for me it would have to be fully decentralised and open source at least,

i e Monero > https://moneroswapper.io/blog/monero-network-upgrades-governance

Monero stands apart in the cryptocurrency landscape for a reason that goes beyond its privacy technology: it is one of the most genuinely decentralized projects in existence. There is no Monero Foundation controlling development funds. There is no charismatic CEO steering the project's direction. There was no pre-mine or initial coin offering that concentrated wealth among early insiders. Instead, Monero operates through a loose coalition of volunteers, researchers, and developers who coordinate through open channels and rough consensus.

[BlackBoss_]

Working in sales has taught me one thing: people don't just buy a product; they buy trust.

They don't buy trust, they buy products or assets but to make purchasing decisions, they must trust that company, product or asset.

I think crypto projects could do better by being honest about their risks instead of making everything sound like an opportunity to get rich.

Get rich quick is for shitcoins and people mostly lose money with shitcoins.
Don't buy altcoins because they are top altcoins.

For those in crypto, what makes you trust a project enough to put your money into it and when did you regret any investment?

Fundamentals and technical things of a project, a blockchain, and Bitcoin has these things excellently, you don't have to feel fearful about it.
History of a project, operational history of a blockchain, and Bitcoin has proven its strong operation and survival over many years since 2009.

With Bitcoin, there is no longer get rich quick opportunity because Bitcoin has already gone too far in market cap but it will still be a very safe investment asset.
Case Bitcoin (useful).

[tread93]

Working in sales has taught me one thing: people don't just buy a product; they buy trust.

I've seen how difficult it can be to convince someone to try something new. I remember one of the experiences I had where I was a sales person for a multinational FMCG company to follow up with a customer that was disgruntled, for about 6 months I was on her without anything success but I didn't relent. I made it a point of duty to visit her twice every week, just to see her, ask how her business is doing  and repeat the process again. Overtime we became friends and she is still a customer today for over 7 years now.

 In crypto, I imagine the challenge is even greater because people are worried about scams, losing money, and not knowing who to trust.
You can make all the promises you w,ant, but once people feel deceived, winning them back is the most difficult thing to achieve.

I think crypto projects could do better by being honest about their risks instead of making everything sound like an opportunity to get rich.

For those in crypto, what makes you trust a project enough to put your money into it and when did you regret any investment?

Yes Trust is a HUGE factor in sales and with being comfortable with crypto, your holdings, and feeling like it’s a good investment for your money. This story is one of the best ways to show that trust is generally familiar. The more you see something or someone the more get used to them being there and trust can be a byproduct of this sometimes. In many investments many friends tend to just trust their friends on what projects to invest in and for many that is enough

[stadus]

Educate them about bitcoin and it's easy for you to sell it to them the idea of investing.

There's a lot of factors that make bitcoin unique from others, that alone already makes it attractive to investors.
Some of them are

1- transparency - with blockchain, everything is transparent.
2- decentralized - it's purely decentralized, we don't need banks for banking...
3- self custody - this is one of the biggest features of bitcoin as it's different from banks,, with it, the fear of having your account frozen is no longer a problem as long as you control your own keys.


For beginners this might help as well.

1. Mega Resources for Newbies — by notocactus

[Dave1]

I think crypto projects could do better by being honest about their risks instead of making everything sound like an opportunity to get rich.

For those in crypto, what makes you trust a project enough to put your money into it and when did you regret any investment?

Crypto market is very different though, trust here is subjective. Just like in the beginning for Bitcoin, it has been attack, called by many names as they don't like or trust it. But then the market grows and today it is one of the best assets.

As for the rest of the crypto, again, not similar as in the 2017 there are a lot of ICO, projects that turn out to be good and then some who become a scam because of the people behind. And they uses decentralization as a shield to hide their real names. And with that, the market became a wild west, although there are still a lot of opportunity to make a lot of money, but you really need to be very careful on when and what to invest and not just to fall on the hype of meme coins or shit coins.

[laijsica]

The lesson of your experience as a salesperson is that you have tried to sell the product to that buyer for a long time and finally succeeded. Your strong desire not to give up has made you successful.

Many scammers operate in the crypto space, luring new investors and motivating them to buy their chosen coin. By the time an investor realizes, they may have lost a lot of money.

My advice is to not believe those who try to get rich quick. They may not tell you directly, but avoid evaluating them without analyzing the market.

There are scammers who will show you profits in some cases to win your heart so that you use more leverage. Once your funds are fully invested, you will gradually start to realize that you were wrong. This happened to me but I was warned in advance so I did not lose.

[d5000]

I think crypto projects could do better by being honest about their risks instead of making everything sound like an opportunity to get rich.

For those in crypto, what makes you trust a project enough to put your money into it and when did you regret any investment?

"Crypto projects" I consider worthy to "put my money into it" are those that do not try to replace the decentralized character of Bitcoin with a centralized one. So no, I won't trust any project asking me to invest in an ICO just to fund another blockchain. There are alsready enough decentralized blockchains, and an ICO-funded blockchain would always be centralized. But ICOs and other crypto based investment methods can be legit to fund other kinds of services in the Bitcoin universe: such services where a centralized entity actually does make sense.

One example are centralized exchanges. I think they have a function in the Bitcoin ecosystem, because if you exchange Bitcoin for fiat, you will need to trust someone to not sell or use your payment data (bank account number etc.) and not try to scam you, which can be difficult in totally decentralized settings (like on Bisq). There are / were exchanges with some interesting features to ensure trust, for example exch.cx (RIP) signed the deposit and withdrawal addresses so you could be sure they'd not change them. Independent audits are of course another, more traditional way; perhaps the future is zero knowledge proofs for some indicators.

[pooya87]

I don't know what you were selling to that woman but if you have to relentlessly batter someone for months just so that you can sell your product to them, then there is something wrong with your product not with them.

In case of cryptocurrencies, it is crystal clear where the problem is: the uselessness of altcoins and tokens.
They simply aren't offering anything new or useful to people so that they feel the need to adopt them.

To some extent this is true about bitcoin as well even though bitcoin does offer an actual utility and it is the only existing money in the world. For example you cannot go to a shop and pay with bitcoin or conversely you cannot be the shop and ask for bitcoin. The adoption is low, so that utility remains hidden and the "investment" aspect is highlighted and because it is still volatile, people aren't interested enough.
But in case of bitcoin, it is definitely not about trust.

[Awaklara]

For those in crypto, what makes you trust a project enough to put your money into it and when did you regret any investment?

There is no guarantee that a new project will succeed; we cannot fully trust a new project. If you find one that is good enough, just invest moderately; using a large amount of funds is too risky. Even when you see the people on the development team, it does not eliminate the risk.
Now people trust Bitcoin more than new projects. It's not that there aren't new ones, but most of them come, achieve success, and then leave.

[Somegory]

Products and trusts are even better, because they don't require your balance to get them, they are cheaper compared to when investing money in something that can change your life.

New crypto projects are all Startups, so many of them are surely going to fail, it's why I don't advice beginners to invest in Blockchain projects other than Bitcoin itself.

Startup projects are risky, if anyone is going to go for them they should be ready to lose some money, probably alot than they are prepared to lose, there are too many scammers in crypto space that appears to be the real MVP but they aren't.

[Renampun]

I think crypto projects could do better by being honest about their risks instead of making everything sound like an opportunity to get rich.

Let's imagine if you're developing a project, your goal is clear; you want to grow it bigger and you need more people to invest in it.. Would you focus more on talking about the risks of the project or the potential you'll achieve with it? So think for yourself.. You can't expect that a crypto project will be honest about the risks of their project.. It's your own responsibility to evaluate whether the project is actually worth investing in.

That's why you need to research the team behind it, whether what they're offering makes sense, and consider the risks of investing in a crypto project because it's riskier compared to investing in Bitcoin or gold... At the end of the day, you need to make your own decisions based on your research, not just rely on what the project team tells you or what other people say about it.

[traderethereum]

Don't put your trust too higher but just it was so when the thing is not work as you expect and falls, you will not be too sad. I put my trust to Bitcoin and I realize that anything could happen to Bitcoin but I only used as it is.

So that work with crypto projects. If you want to invests, just invest the amount you can afford so if the project fails, you will not too disappoint and can move on. The regret comes when the project fail and make us lost but if that is the amount you can afford, you can move on.

[Saltysugar99]

Personally, I have never invested in any crypto project other than bitcoin. And I will never invest in altcoin. I have been investing in bitcoin since the beginning when i decided to invest in crypto  then i prefer  to bitcoin than other token. And I have not sold any sats till now. What I think from my personal thoughts is that I have developed a different belief in bitcoin, due to which I decided to invest. And I have developed distrust in altcoin, which is why I have never feel an interest in investing in altcoin. And it is not that easy to own a lot of money overnight. A person needs a lot of hard work and patience to be financially successful. Wherever there is a temptation that will make a person rich overnight, there is definitely a fraud, I have to understand this with my common sense. And I have not invested in any sector that I have spent money on depending only on luck. Rather, there is enough realistic  logic behind my investment. So I hope that I will be successful in the future.

[Lontor]

There is no trust in this space, take it or leave it, people will go through every troubles to steal from investors looking like they have a bigger plan for the people but it's all about them only.

Developers are all criminals, only Nakamoto is left out of them all, he is the only person I can trust because he is obviously not after money but the freedom of people, there is no developer that has ever done the same thing as Nakamoto did.

How can you be worth alot of money and not touch a penny from it because you are so hell bent on the decentralisation of Bitcoin? Developers today are all thieves in disguise, they want the money and it's why they are here.

[Royal Cap]

Well what I would like to mention here is the fact that when it comes to crypto, things go in different ways. No one should rely on sweet words of someone or some firm, but rather rely on open source and decentralization. Personally, I do not engage in chasing new projects and trading but only hold my bitcoins. I also do not hold on centralized exchanges, as it is not secure for the funds and I believe that one should keep Bitcoin in non custodial wallets. In my opinion, it is safer to follow the 'Don't trust, verify' principle than to trust others in crypto.

[Hewlet]

I think crypto projects could do better by being honest about their risks instead of making everything sound like an opportunity to get rich.

For those in crypto, what makes you trust a project enough to put your money into it and when did you regret any investment?

Its not like there is a dedicated team whose role is to convince users that crypto can be trusted or anything of such nature. Crypto on it own is unique and genuine and completely void of scam. any form of scam that is in a way associated with it is brought about by users who are still the ones that are responsible for the illegality in other sectors.

is there a niche that is void of scam? absolutely not. does that mean that any system that has scammers in it is completely bad? that is obviously not the case. in our time, we have to learn how to leave with these reality and understand that scammers are always going to be available. that is why cyber security knowledge is a must for every and anyone that is in this niche.

[Fivestar4everMVP]

Bitcoin doesn't require you to trust anybody, Bitcoin and its blockchain Satoshi built is trustless system where your trust is only in the system and not in people, and as you may already know, a system that is set up to function in a particular way will not leave the way it is programmed to function to start functioning another way, this is the difference between humans and systems, humans change, they make mistakes, they sometimes judge or assume wrongly, but systems don't, they carry out instructions exactly the way they are programmed to.

So, you can teach Bitcoin to yourself, learn how to research, buy, store, and even sell it yourself, you don't need to trust anybody to do any of this for you, you need a mentor only if you have a dull brain.

I cant say same for other cryptocurrencies anyway.

[MainIbem]

Any project that sales quick riches to attract people shouldn't be trusted cause wealth is not easily made an of it sounds too easy then ot should be suspected. Bitcoin didn't sale one false hope but people had to trust it when they saw prove that good for different usecases that suits them, Bitcoin doesn't even need hype to be relevant in the market it's value and proven record would speak for itself and make people willingly adopt it. You can see that many institutions and even governments are also adopting it, that's how a good project should be, not relying on hype or false promises.