Why Only 1% in C

Why only 1% of population or less are in cryptocurrency

Cryptocurrency changed the lives of many people who understood it and the technology behind its working. They then started to earn more than anyone out there. As we live in the era of technology, we see exciting new technology and stuff every day that gain popularity in no time, but do you know only 1% of population or less are familiar with cryptocurrency?

Well, there are many reasons behind it, that raises a question that why people do not want to enter into this field and learn about cryptocurrency. It is completely a normal reaction from people that they are afraid of the cryptocurrency and investing in it because:

  • They do not have sufficient knowledge about it
  • They see drastic fall in prices, ignoring the fact that if the price falls, it also rises up to a peak.
  • They get discouraged because of the bad news circulating every day regarding cryptocurrency that it is not stable in its value and it is difficult to mine and understand it.
  • They always explore the negative side of the cryptocurrency rather than focusing on its bright side

According to a survey conducted by cryptocurrency platform known as COBINHOOD, only 56% of people out of 1035 in America knew that cryptocurrency is a digital decentralized currency that was designed to serve as a medium of exchange and an alternative of traditional currencies. About 14% of people thought that cryptocurrency is the core technology that backs up the debit and credit cards (funny, isn’t it?).

It is natural in people that they always feel suspicious about a new thing; they consider it as a risky game to put their hands in the latest (if it requires some finance). It is a normal human psychology that if they get unexpected high results in short period of time without any extraordinary effort, they will start thinking that it is just too good to be legit. Same is the case with bitcoin, if you invest in it in a right way, you would not believe how much profit you will get within no time.

Why should I go far and give examples of people who have been successful since they entered into the world of cryptocurrency, while I can tell you my own story? I have been into cryptocurrency for a long time. Once my friends asked me that what I do for a living, they were surprised to know that how much I am earning from just bitcoins.

People, who don’t understand the technology and magic of cryptocurrency, spread manipulated news and rumours against it in different ways so no one else can start a career out of it. Especially on social media, you will find many posts and videos telling people not to invest in cryptocurrency as it is just a bubble that can pop any time. People who are against cryptocurrency manipulate the fact in a negative way about its decentralized and unregulated properties.

In my opinion and according to my experience it is compulsory to know about the bits and pieces of bitcoin in detail so you can get to know the tactics, market, trading and techniques regarding cryptocurrency. If you want to invest in something profitable, you can put your bets on bitcoin or any other Altcoin after getting a proper knowledge (which is not something difficult to get).

One of the biggest reasons that society is not yet accepting bitcoin is the misconception and lack of information. People are not getting the core purpose of this invention, as it was made to provide a facility to everyone to make their transactions secured without the intervention of a third party. The more people will use bitcoin, the more will it get popularity, which means more profit and earning.

If you ask about cryptocurrency from a layman he may have listened about it from somewhere but he would certainly not know what it is. If you will try to teach him the advanced working, it will not be less than teaching a cow what bitcoin is. The technology behind Bitcoin, blockchain, is not easy to understand without proper knowledge and research, that is why most of the people will find it weird if you tell them that bitcoins are mined from computers using highly-efficient graphics cards, and then further used for selling and buying purpose.

Here is why you will see only a few people with proper knowledge about cryptocurrency

  1. Lack of technological interest

As Bitcoin and blockchain is a completely technical invention, that is why most of the people (even smart ones) who do not have any kind of interest in getting into the technical stuff, tend to avoid this topic. They will not even try to learn it despite knowing its benefits, because of the fear that they might lose everything on it.

  1. It is complex

Unlike other technological inventions, it is complex to get a full concept of bitcoin’s working in mind. Most people get confused and do not even care to get deep into it. Just take an example of the debit card into consideration, when it came out as a new technology, people didn’t even know what it was and how it worked. A debit card provides you with a secure and easy way to manage all your funds, but still many people are somehow afraid of it, then how is it possible to put their trust into bitcoin that has no insurance and cannot reverse transactions?

  1. People think it’s just a scam

As bitcoin is not backed by anything and is completely decentralized, people think that it is just a scam and investing in it will make them regret afterwards. The concept that is given to the people about cryptocurrency is “Easy Money” that creates a lot of misconception and they start considering it an illegitimate currency.

Bitcoin is a new technology which needs to be matured and adopted by the people all over the world in order to get popularity. New inventions that are not much popular among a bigger audience are always attacked in many ways. You will also see the media filled with a lot of FUD (fear, uncertainty and doubt) about bitcoin and its future. If people will only show the negative side of cryptocurrency, by ignoring a long list of its benefits then how will others not take it as a fraud?

It is a fact that people think bitcoin and other cryptocurrencies are just an illusion that does not have any existence in real life and it’s only a concept of currency, but being realistic if we see a dollar bill, isn’t it the same case with “dollar” too? Dollar also has no value and existence, if it isn’t stored in paper or coins.

Do bitcoin have a future?

Well, yes it certainly does have a bright future! Once people start to recognize the business opportunities with cryptocurrency worldwide, they will surely love it. There are many things that we can do to make sure that cryptocurrency really prospers in future, because only in this way people can make an amazing living out of it.

We should start at the grass-roots level and go all the way up to a higher level teaching the true value and importance of bitcoin and its working. We can teach the college level students the working of blockchain technology and everything related to cryptocurrency because they are getting ready to enter into a professional life and the knowledge about cryptocurrency and its underlying technology blockchain will help them a lot to do something profitable for their future. Also in this way, cryptocurrency will get more exposure and everyone would be able to enjoy the crypto world.

Actually, cryptocurrency is just like digital gold that is away from any kind of political influence and regulations, which promises to boost its value over time. Cryptocurrency provides fast transactions without any kind of trail and it also has a worldwide scope without any restriction of international rules. Bitcoin and other cryptocurrencies are reaching towards success by becoming the most dynamic option for investment for many investors and speculators.

We live in the era where new inventions are common and every day we come to see something new. To demonstrate the value of bitcoin in future let’s get back into the world when computers were newly invented, they had very limited computational power yet they required large rooms to install. I guess less than 1% of people back then knew about the working and importance of a computer, but if we compare it with today we will see how computers have taken a big place in our everyday life and been evolved into tablets, smartphones and laptops that without them our life is incomplete.

Same goes for bitcoin too, as everything takes time to grow bitcoin will also need some time to flourish itself in this world of technology. I completely understand that many people have not yet figured it out, but later when they will see the real potential of bitcoin, they will feel that how outdated our financial system was, and how bitcoin and other decentralized currencies are of paramount importance.

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Exciting World Cryptos

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