Why your neighbour is not entering the crypto space?
Blockchain technology and cryptocurrencies and have experienced a surge in popularity over the past few years; and with it an increased public awareness as well as acceptance and usage overall. Despite such progress, however, many people still remain wary of the topic. In fact, we all have at least one neighbour, colleague or a friend that is sceptical about entering the “crypto-verse.”
In this article, we’ll explore the reasons why many people are still not joining the crypto revolution and how to help them overcome their hesitation. Read on. And enjoy!
There is no doubt that technology has been developing at a dizzying pace in recent years. At the forefront of this incredible progress are two major catalysts: the emergence of blockchain and cryptocurrencies. With over 320 million crypto-users worldwide, we’re all witnessing a massive revolution, arguably the largest since the dawn of the internet. Despite the initial fear and mixed opinions, it’s impossible to deny the impact these two have had on our lives and the progress that has been made in their respective fields.
Similar to the evolution of the postal service – from paper letters to fax and then email, not only current sources of information but also many areas of financial systems are advancing in a rapid speed.
We have already seen a shift from cash to cards, later local / physical branches replace digital banks and various online payment providers, and finally the boom of so many DeFi projects. Yes, the era of decentralized finance including cryptocurrencies. Thus, we can only expect this trend to continue in the future.
Many past examples, such as the development of the printing press, the invention of radio and TV, or later the internet itself, demonstrate that even the most revolutionary technologies can become a seamless part of our lives when they are fully understood and embraced with a mindful approach. Or actually through general openness and motivation.
Navigating the Unknown Waters: The Promise of Blockchain and Cryptocurrencies 🤖🧭
Indeed, the entire crypto-space is a vast, making it a bit intimidating / hard, especially for the beginners. No surprise your “neighbor” may be scared of this still relatively new technology, or the complexity and volatility of the crypto-markets, so much that they completely avoid the topic.
Let’s also not forget that the hype related to the cryptocurrencies has led to various misconceptions, stereotypes, and misunderstandings. In fact, this is one of the most common reasons why people are still reluctant to dive into the crypto rabbit hole.
We don’t judge anyone for their decisions, but it is worth making the effort to explore the opportunities that crypto and DeFi can offer. In the matter of fact, taking the time to learn more about this industry can be extremely rewarding.
NOW. The sooner we start, the better.
The most common myths that discourage beginners
❌ Cryptocurrencies are only used for illegal activities:
While criminals may try to utilize new technologies for their own gain, it does not mean that it should be considered as inherently bad. In fact, both blockchain and crypto have the potential to revolutionize the entire world in unprecedented ways. From increased transparency to more secure and efficient transactions; the power of blockchain technology and the wealth of cryptocurrencies can help us create a more equitable and prosperous economic system. Meanwhile, allowing individuals to have more control over their own data and finances.
❌ Dealing with crypto isn’t safe:
True, cryptocurrencies can be susceptible to cyber-attacks, hacking, and other malicious activities, but the same can happen to any of your personal / online information, including your emails or even bank accounts. So the statement that cryptocurrencies are unsafe is not entirely true. While there may be (and there are, in fact) various risks associated with crypto-assets, they can be mitigated with proper security measures. There are some rules to remember and follow; best practices to keep in mind that will protect your funds and related transactions. With the right knowledge; a thoughtful approach and sensible action, it is possible to avoid many potential threats and to keep your ‘digital wealth’ safe.
❌ Cryptocurrencies are for rich people; it’s already too late to enter:
Contrary to what some may believe, cryptocurrencies are not for the rich. Not at all! In fact, Bitcoin, the oldest of the cryptocurrencies, was created with the intention of providing equal opportunities for everyone; regardless of their location or background. It was created to build our own financial independence and to empower those who have been ‘disadvantaged’ by traditional financial systems.
And, please, don’t let the high prices scare you either. Building wealth is possible by accumulating it in small amounts as well, investing not more that you can afford.
So don’t believe the myth that it is too late to enter the world of cryptocurrencies. With the right tools and knowledge, anyone, at any point, can start building their own financial kingdom.
We’re all still early on. Don’t miss out on this incredible opportunity – it is still the time to join!
❌ Cryptocurrencies are too complicated to understand:
Sure, it may seem complex initially, but with self-motivation and help, anyone can pick up the fundamentals. Learning something new can be challenging, but it doesn’t make it impossible. With the right resources, you can quickly gain a strong understanding of almost any topic you want. From reading and listening to thinking deeper and questioning; learning the theory and gaining hands-on experience; taking advantage of podcasts, tutorials and articles, you will definitely acquire the knowledge you need.
The Cake is here to support you as well 🍰💡
With over 70 trusted advisors, their extensive wisdom and many years of experience, you can get the help you need, quickly and easily; whether it’s through our live chat, a message, or a booked session. What’s more, our online publications—from social posts to blogs or newsletters—provide helpful information and guidance to deepen your understanding.
We hope this article inspires you and helps you introduce even the most stubborn person to the crypto-world. Share it with others if you think that it can help them ‘educate their neighbours’ as well. After all, cryptocurrencies are here to stay, so it’s important to take the time to educate yourself and others.
✅ Last but not least… Be patient.
To get your audience on board, start with the basics and provide just a few examples; step-by-step. Don’t overwhelm them with technical jargon or complex topics. Take it slow, don’t force anything; everyone moves at their own pace.
It’s okay if you don’t have time for long arguments or comprehensive explanations. Just plant the seeds of knowledge and answer the most essential questions at a time. You don’t have to do it all in one go! Suggest some ‘professional’ help/resources that you know, follow and trust. Maybe consider giving them the same sources of information that helped you learn the basics at the begininng.
YET! If they still show no interest or refuse your help, simply let it go. Do not get frustrated. They may still come to you when they’re ready. And if they won’t, their choice, their loss.
About The Cake 🍰
The Cake is a gated chat service that provides consumers and businesses with advice from the pool of trusted experts. Our mission is to connect those who have the knowledge with those who need it.
‣ You can browse advisors on The Cake and chat with them via our custom app (Live Chat) or to leave them a message. Reach out to them to ask for their advice. Have your crypto, blockchain, web3 questions answered. Simply find an expert and chat!
Empowerment and Crypto-Knowledge: Content published on our website is intended to be used for information and education purposes. Please also keep in mind that presented information is as of a certain date and often based on current market conditions. Thus, it does not constitute financial, legal, accounting or tax advice.
No doubt that the advancement in technology has greatly
If you thought that the Metaverse was merely for