Practical difficulties when it comes to Crypto adoption
Crypto adoption is going to be an important thing in the coming years. As we are creating more and more new projects, we should be able to onboard more people into crypto. There are so many blockchains available and people who are comfortable with one blockchain don't even think of exploring others. This is something that can be commonly seen everywhere. Everyone is fond of their comfort zone. But well that's not the only reason, there are many other challenges when it comes to crypto adoption.
In this article, we are going to briefly discuss the different types of challenges we have when it comes to crypto adoption and why we are not able to get many people onboarded here.
Lack of knowledge and exposure
The primary problem in crypto is knowledge. Only a specific group of individuals who had enough persistence were able to excel in the crypto world. The knowledge stays among them and it is also equally difficult to share the knowledge with others and also people lack exposure. People easily get exposed to some projects or another other but if the project is not legitimate, they shop showing interest and in some cases, people even think that all cryptocurrencies are a scam.
Concepts are not simple
I agree that the blockchain concepts are not very simple and it took me years to understand certain things and I expect the same from many newbies. Only a few people who have some special skills can master this world within a very short span of time and find a way to make money here. Even though making money is secondary, they have to decide to stay long term and for that understanding, the concept is very important.
People think it is risky
Yes, indeed it is risky compared to the regular markets and things that happen in the FIAT world. Not everything in the world is easy right. There is enough risky stuff as well but once we get familiar with it, we should be good. There are still many people involved in many projects, if things can work out for them why not for us. I agree that there are several risk factors here but there are also equal safe opportunities as well that can be explored.
Legal issues
This is another biggest problem in the crypto world. Many countries have announced crypto as illegal. They all think that cryptocurrencies are against law and there is nothing positive about it. Maybe from the looks of it, it can appear to be like that but there are so many wonderful things that can be done with this technology. People should also stay away from the illegal stuff and get themselves involved only in the legal things. There are ways to do things legally and they should be explored. Maybe get crypto as an overseas payment from a company that considers crypto legal.
Taxes are heavy
This is an understandable fact. Only a few countries think that crypto is a high-risk income and they have kept the taxes low. But most of the companies are targetting to make decent money out of just Taxation. That's one of the reasons why people become a fan of Decentralization and want to avoid taxes. If the taxes are nominal for someone or if someone is already paying tax, they should consider paying tax for crypto as well. But yeah heavy taxes prevent people from exploring this additional opportunity and the technology is also left unexplored and kept aside.
If you like what I'm doing on Hive, you can vote me as a witness with the links below.
 |
 |
 |
 |
 |
 |
Posted Using LeoFinance Beta
I think we need more sponsorship for people in Crypto and maybe even more Refs.
Or Defi with Ref? oO
Problem: Investing in Crypto can be hard, volitate and expensive.
So Sponsorships on Hive is easy, we can just delegate HP to people until they have a feel for it. That would be a good start.
But lets say someone wants to get into DeFi, such as Cub or PolyCub.
Having a Leasing system in DeFi could be amazing aswell or have a Ref system aswell! (Either forever or until you hit a certain amount)
View or trade
BEER.Hey @bala41288, here is a little bit of
BEERfrom @pixresteemer for you. Enjoy it!Learn how to earn FREE BEER each day by staking your
BEER.There's a lot of negatives to Crypto lately in terms of the main powers battling vs it. We also haven't come all that far in terms of UI's and making it easier for people to get involved. There have been steps towards this and I am super happy about them but I wish more was being done. I still have high hopes for crypto even with all of this big hurdles it still has to overcome.
Posted Using LeoFinance Beta
Yes, my friend is a subscriber to my YouTube channel, which. at one time he sent me, as you understand, to Steem, from where I moved to the Hive, I jumped off the locomotive a long time ago, fearing the openness of the financial system, and perhaps something else. Yes, in that period, Steem began a rapid decline, but then there was no usurper yet and there were no revolutions. I decided to linger, lol and do not regret it).
I confirm that by now the blockchain world is huge ... there are many projects compared to 5 years ago and this gigantic world now has to integrate more and more with the one that provides us with services, such as food shops and bars.
I think so many people are soon going to be embracing the lack of knowledge and this will spread positivity. The more people join, the more they get exposed to the need to be part of the crypto world
This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.
Do you know that you can earn a passive income by delegating to @indiaunited. We share 100 % of the curation rewards with the delegators.
Here are some handy links for delegations: 100HP, 250HP, 500HP, 1000HP.
Read our latest announcement post to get more information.
Please contribute to the community by upvoting this comment and posts made by @indiaunited.
This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.
Do you know that you can earn a passive income by delegating your Leo power to @india-leo account? We share 100 % of the curation rewards with the delegators.
Please contribute to the community by upvoting this comment and posts made by @indiaunited.
Your content has been voted as a part of Encouragement program. Keep up the good work!
Use Ecency daily to boost your growth on platform!
Support Ecency
Vote for new Proposal
Delegate HP and earn more
It's tough right now for crypto but the only thing we can do is keep building. I don't think they can shut down everything and I believe technology will win in the end. It might take a few countries like El Salvador to prove that crypto synergizes well.
Posted Using LeoFinance Beta
This tax rule is simply unfair and unjustified. Crypto market is like stock market which requires a lot of analysis like stock market. It's not gambling where government applies 30% flat tax. There are a lot of small investors who do not fall in the tax slabs, lime students.