Crypto educational blogs for sensitizing people about blockchain are limited and a significant reason for the slow adoption pace. IXFI has come on board to change the narrative.
Cryptocurrency is becoming more popular as the day passes. According to TripleA, adoption has risen over the last couple of years, with the ownership rate at 3.9%. That translates to over 300 million users globally. However, crypto adoption is slower than we had imagined compared to the global population and traditional bank accounts.
What is responsible for this gap in adoption, and how can it be mitigated? This article has the answer to all the questions.
People’s Reluctance To Invest In Cryptocurrency
The primary reasons for this massive gap are fear and lack of awareness. Some fear investing in cryptocurrencies due to regulations, price stability, and cyber security. Others have no idea what this new revolution of currency is.
Regulation has been a significant topic of discussion in crypto over the last couple of years, involving governments and economic bodies. Last year, China altogether banned cryptocurrency and all mining activities. In early 2022, the IMF warned El Salvador of plunging into financial woes if they retained bitcoin as a legal tender.
Governments are banning cryptos and urge their citizens to be wary of the crypto market because they haven’t come up with the perfect initiative to regulate the market. Seeing these warnings, citizens would instead pull off than invest in assets that aren’t held.
Volatility or price stability is another reason. Bitcoin is a typical example of this. Before 2010, it was worth nothing. Fast forward to November 2011, the price mooned to $200. By November 2013, it skyrocketed to over $1,200. Then, it crashed to about $400 by April the following year. By December, the flagship coin had mooned to $19,738. Then, again, it plummeted to around $6k the next year. Finally, it hit an ATH of $64k in November 2021. Currently, the price is hovering at about $21k.
These cycles of volatility make ordinary people distrust BTC and other cryptocurrencies. They believe that currencies need to be stable to be trusted as viable means of exchange. It makes sense.
Security is another issue. To many people, crypto is unsafe. When stored in an exchange’s wallet, it can become prone to hacking if the platform gets bridged.
The last issue is awareness. Some people see crypto as a new form of money that will collapse. Others think its mechanism is too complex to comprehend. Therefore, they absent themselves from investing.
Educating People About Crypto Will Address These Issues
When you go down memory lane, the internet and mobile phones face harsh criticisms. Many thought them to be a fad, but look what they are today. They are arguably the most valuable tools in the world, but they didn’t become popular overnight.
Tech companies and individuals invested their time in educating people on the benefits of the technologies and how they could help their businesses and everyday life. Then, boom! Everyone became conversant with mobile phones and the internet.
Cryptocurrency is the same. It’s still new, and that’s why ordinary people are yet to discover the innovation’s purpose and meaning. It’s typical for an emerging technology like blockchain/crypto to have some opposition, but that’s temporary. Various industries and ecosystems of technologies that understand what blockchain brings to the table are already building on it. Therefore, you mustn’t be left behind.
The crypto world is rapidly developing. People need to be taught about cryptocurrency and help understand its economic role. It can foster prosperity and financial inclusivity. IXFI came to do this.
IXFI is more than a highly secured crypto exchange platform. IXFI’s Blog is the best educational platform to keep updated about the crypto world. We share the latest news about blockchain, altcoins, bitcoins, DeFi, and regulations and carry out technical analysis to help determine the outcome of a coin so that you can make the best investment decision. The IXFI’s team is experienced and dedicated to assisting people in comprehending this new-gen technology and what it will bring to the globe.
Conclusion
Crypto education is vital to increase adoption. Many people are in the dark about crypto and blockchain and need to be sensitized. They need to know that people can still be prosperous. IXFI is the best educational platform.
Don’t be left out! Be part of the decentralized future by learning more about crypto on IXFI, Your Friendly Cryptocurrency Exchange. Get the latest news about DeFi, regulations, Blockchain, and in-depth fundamental and technical analysis on IXFI’s Blog.
Disclaimer: The content of this article is not investment advice and does not constitute an offer or solicitation to offer or recommendation of any investment product. It is for general purposes only and does not consider your individual needs, investment objectives, and specific financial and fiscal circumstances.
Although the material contained in this article was prepared based on information from public and private sources that IXFI believes to be reliable, no representation, warranty, or undertaking, stated or implied, is given as to the accuracy of the information contained herein, and IXFI expressly disclaims any liability for the accuracy and completeness of the information contained in this article.
Investment involves risk; any ideas or strategies discussed herein should therefore not be undertaken by any individual without prior consultation with a financial professional to assess whether the ideas or strategies discussed are suitable to you based on your personal financial and fiscal objectives, needs and risk tolerance. IXFI expressly disclaims any liability or loss incurred by any person who acts on the information, ideas or strategies discussed herein.
