If we just take the percentage of the number of people who are using the internet and the ones who are invested or interested in crupto then we will see that the numbers are not so encouraging. We have a very few number of users who are invested or interested in crypto.
PC: Pixabay.com
The reason can be anything but the foremost reason is that people invest in any asset to earn money and when they see crypto can give money like anything in the bull cycle can also take away all your gains in the bull market. And also if the bull market, your money just sit idle and most people get frustrated with more downs than ups. This is the number one reason for people to stay away from the crypto.
I know it is advertised like a quick rich becoming method. And it is true in the bull market but a lot of people lost money while timing the market and eventually think that it is a scam. But that is not true which we all know.
The second major thing is the Government all over the world which is not so friendly and that is another headache which most of the people does not want to take. A lot of Indians are not in the crypto for the same reason. They have left when the government started the crackdown and imposed the 30% tax, people left crypto like anything.
Yeah there are issues with it but tell me is there any other asset class which can beat the inflation without the risk. I think none, yes there is risk with crypto and that is one thing everyone of us know from the day 1 but still we are invested in it because we know that it is the next big thing and we are all the early adopters of it.
I don’t see a reason that’ll make me want to leave crypto. Just like you’ve pointed out there’s no other means that’s more powerful in battling inflation like crypto. I think those leaving now will come to regret it later when the bulls are in.
Anyone init just for the money is not seeing the whole picture.