Why We’re Scared of Cryptocurrencies, and How It Can be Fixed

Since the emergence of the first cryptocurrency, Bitcoin, many people have raised concerns about this technology. Unlike its parent technology, blockchain, cryptocurrencies have caused many to seek its alienation, if not outright ban. Financial sectors and governments across the globe are at the frontier in the fight against these digital currencies. In fact, some banks and other financial institutions have refused to offer their services to crypto-related companies, while some governments have gone out of their way to create laws that prohibit them within their jurisdictions. While these measures might be enacted for different reasons, the underlying factor is fear. So, why are people scared of cryptocurrencies, and how do we put them at ease? Let’s dive in.

Lack of Understanding

Initially, the concept of digital money seemed far-fetched. People did not understand how they could transact with virtual money. More so, how could they use this money while no system or government is…