Why are there people ignorant about crypto?

[Starmix]

Why are there people ignorant about crypto? There are several reasons why some people may be ignorant or skeptical about cryptocurrency. Crypto can be technically complex and challenging to understand for newcomers. The rapid price swings can scare people away.

Also, some people don’t trust something they cannot physically see or touch. And some stories about scams, hacks, and regulatory crackdowns create fear. Many people simply haven’t had access to understand information about crypto.

Some are content with traditional banking and investing. Overcoming this often involves clear, simple education and demonstrating cryptos real-world applications and security measures.

 

[eLdavis]

There are people ignorant about crypto because they choose to be. They probably assumed it's something they won't be able to understand.

 

[Starmix]

Some people choose not to invest in crypto; they might not be familiar with it. Also, there are a lot of hacking and scamming activities related by about crypto. It is better to be safe than to put themselves to harm and lose money.

 

[King Belieal]

Some people are still ignorant about crypto because they see anything that has to do with money online as scam. They are still stuck with cash transactions.

 

[Starmix]

Those who are not investing in crypto despite having money preferred the traditional way of transacting money, like saving it in the bank and invest on something not crypto related. Only a very few engage in crypto.

 

[Suba]

Lack of literacy and information has led many people to ignore and even hate crypto. Some famous figures initially hated crypto, such as Warren Buffett, who initially considered crypto/Bitcoin as rat poison but eventually invested in crypto. Michael Saylor in 2013 considered Bitcoin as online gambling and would eventually sink, but now he is the largest Bitcoin holder. Donald Trump in 2019 tweeted "I was not a fan of Bitcoin and other crypto but now I strongly support crypto.

 

[arunima25]

Though I am not totally ignorant about crypto, I can say that I am not very well versed with it or a pro at it. All your points @Starmix apply to me to some extent. I have read a lot about crypto out of curiosity and I can say that I have a fair understanding about it. I choose not to get involved in it and my low risk appetite is the main cause behind it. Also, I feel that I am doing pretty good with my financial portfolio and goals without involving cryptos.