Post
Topic
Board Bitcoin Discussion
Re: Why do people avoid bitcoin?
by
cosmicbtc
on 29/10/2020, 07:59:49 UTC
It is not that simple. Just because Bitcoin is faster than a bank transfer does not mean that for many it will be a fast and simple solution.

There is no infrastructure. For example, you have money, and you want to transfer money to your relatives. You need a wallet, and they need a wallet. You need somewhere to exchange the wallets for money. Those to whom you transfer, too, will need to find a place to exchange the bitcoins for cash.

And if he doesn't have it all, he'll have to create it all and understand what and how. Many people are very conservative, especially the older generation, and it will be easier for them to wait 2-3 days and get their money safely in the office than to go into all these wallets, transactions, and all kinds of exchangers.

Exactly. Moreover, the decentralization of cryptocurrency is a big factor for people. They are just afraid that if something happens to our bitcoins what will we do? Where to register complain? These fears and the hectic process of transferring BTC let people avoid using it.