Have you ever wondered what the main things every crypto investor is tired of hearing are? Or, if you are one of these investors, is there anything that’s starting to get tiresome?
Because cryptocurrency is still in many ways an emerging market, there is a lot of misinformation out there. As a result, people tend to hold all sorts of inaccurate ideas and opinions. And for those in the know, this misinformation can get a little old. Here are 11 things every crypto investor is tired of hearing.
11. “Anyone who invested early is guaranteed to make millions.”
It’d be nice if this one were true. But, unfortunately, it’s not. This is just a common misperception.
The idea that cryptocurrency is guaranteed to succeed is a huge oversimplification. So is the related idea that anyone who invested early will win.
The truth is that the world of cryptocurrency is complex and dynamic. As such, there are no guarantees. It is a highly competitive landscape. And crypto faces a number of uncertainties and variables.
The only way to succeed is to do your homework. And even then it’s no guarantee. But one thing’s for sure. An early investment is by no means a surefire way to cash in. If you want to do that, you’ve got to stay up to date, put in the work, and hopefully, have a little bit of luck on your side.
In the meantime, this is just one of the things every crypto investor is tired of hearing.
10. “Cryptocurrency has no ‘real’ value.”
This complaint is high on the list of things every crypto investor is tired of hearing. And it is frustrating for a couple of reasons.
For starters, what does this even mean? What is “real” value? Today, value is tied less to a “real-world” asset and more to whatever a group or community agrees is valuable. In that sense, cryptocurrency is as “real” as “real money.”
Beyond that, this idea fails to see the potential of crypto. The reality is that most cryptocurrencies are created with a concrete purpose in mind.
9. “Why not wait until crypto is a proven investment?”
For serious crypto investors, it’s already a proven thing. Cryptocurrency has been around for years. It’s proven itself as a real-world means of facilitating a wide variety of transactions. And it’s already generated tons of money on the investing side.
Sure, cryptocurrency is new to a lot of people. But that doesn’t mean it is actually new. Whether or not people realize it, crypto has been around long enough to demonstrate its viability.
There are tons of tokens and coins being launched all the time. There are even crypto “hedge funds.” ICOs are a relatively proven alternative to traditional fundraising. And the list goes on.
8. “Only old school investors have a shot at making money.”
This is definitely one of the things every crypto investor is tired of hearing. This statement downplays the potential of cryptocurrency. Sure, many longtime “hodlers” have very valuable portfolios by now. But that doesn’t mean that rush is over.
In fact, crypto is likely to continue growing as it becomes more and more mainstream. And throughout its growth, it seems likely that it will remain a prime target for investors.
Don’t worry. The bubble isn’t over. In fact, we’re probably still in the early days of cryptocurrency.
7. “What good is blockchain if it’s only for cryptocurrency?”
It is true that cryptocurrency gets the most airtime. But blockchain is capable of doing much more. For example, anything that could benefit from increased security and automation could probably benefit from blockchain.
The truth is that blockchain has opened up a new way to spread out power and authority. More specifically, it allows communities to essentially govern themselves.
Blockchain is already being used for a bunch of things. For example, smart contracts. It can also be used to store any sort of digital asset, not just coins and tokens. People are also figuring out ways to use blockchain to improve medical records, supply chain, insurance claims, and much more.
6. “Cryptocurrency will fail because it could never replace ‘real’ money.”
This one can be especially maddening. Cryptocurrency isn’t aiming to replace “real” money. In some ways, it can end up functioning better than fiat currency. And so in that regard, maybe it could end up becoming preferable to fiat currency. But really, that’s not the main goal of crypto.
In fact, some currencies designed to work hand-in-hand with fiat currency. In some cases, banks are actually using these currencies to improve transactions.
The bottom line: Cryptocurrency isn’t trying to take over. It’s offering a new and improved way to carry out peer-to-peer transactions. That includes money. But it also includes much more.
5. “Cryptocurrency has no ‘real-world’ uses.”
This is another one of the things every crypto investor is tired of hearing. But, once again, it’s inaccurate. There are actually tons of “real-world” uses for both cryptocurrencies and blockchain technology more generally.
More and more, companies are accepting cryptocurrency. For example, Starbucks and Microsoft have reportedly teamed up to allow Starbucks customers to make purchases with crypto. And that’s just one example.
Beyond that, cryptocurrency’s “real-world” uses aren’t just for buying things. Startups are turning to crypto tokens to crowdsource their funding. And blockchain is being used for everything from smart contracts to hospital records to tracking produce shipments.
4. “Cryptocurrency is only used by scammers and criminals.”
It is true that cryptocurrency has spawned a new avenue through which criminals can scam people and carry out shady transactions. But it’s inaccurate to conclude these are the only people using crypto.
The reality is very different. A wide range of normal consumers use cryptocurrency. Same with businesses. In fact, startups are now using crypto for fundraising. And consumers can use crypto to make purchases or execute other transactions.
In the big picture, criminals are a tiny subset of crypto users. And in that regard, it’s basically like anything else in the world. There are scammers and criminals that try to take advantage of everything. It’s not accurate to act like crypto is somehow unique in this regard.
3. “Cryptocurrency is too complicated for ‘regular’ investors.”
Cryptocurrency and blockchain are complicated. In fact, some people are still wondering “what is cryptocurrency?” There’s no denying that. But that doesn’t mean people can’t figure it out. Crypto isn’t just a playground for tech heads.
In fact, cryptocurrency and blockchain are going to be an increasingly big part of the future. And not just in terms of money. That’s why everyone should be learning about crypto and blockchain. Read our guides and articles and you’ll become fluent in all things cryptocurrency. And while you might not become a crypto wizard, you’ll definitely know enough to be comfortable in the crypto universe.
2. “Stay away from cryptocurrency—it’s a scam.”
A lot of times, this idea is a twisted version of a concrete reality. More specifically, people often claim that crypto is basically just a newfangled pyramid scheme.
When more people get involved with crypto, it benefits investors. That’s because more participation can drive up value. But this doesn’t make cryptocurrency a pyramid scheme.
In fact, as we described above, crypto has tons of real-world uses. That includes as currency. But it also includes much more. Cryptocurrency and blockchain offer highly effective solutions for numerous real-world problems. This is the exact opposite of a pyramid scheme.
1. “It’s too late to get into cryptocurrency. The bubble has popped.”
This one is arguably the most common. Crypto investors hear it more and more. And it’s simply not true. In reality, when people say this, they’re commenting on Bitcoin’s rapid increase in value and subsequent drop in value. But beyond that, it’s not an accurate statement.
Cryptocurrency and blockchain have already survived many wild fluctuations. And they’re still here. In fact, we’re only still beginning to understand all the possible ways to use crypto and blockchain. And as people device better and more nuanced ways to apply these technologies, expect to see more—not fewer—chances to invest in crypto- and blockchain-related projects.
Can You Relate?
If you’re part of the crypto community, are you getting sick of hearing this re-occuring phrases? We understand, it’s new, it’s confusing, and there are some common questions that will continue to come up. Though, we could live without hearing that crypto is basically “Monopoly money.”