NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets

Crypto Has One Major Obstacle in Mass Adoption, Can it be Solved?

Samuel Wan
Samuel Wan
6 years ago
2 mins read
bitcoin

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Cryptocurrency advocates often ponder over mass adoption. But in truth, the usability of cryptocurrency, or lack of, presents a significant hurdle for no-coiners. On top of fears over security and the association with illicit activities, mass adoption will remain a distant fantasy unless it gets easier to buy, store and use cryptocurrency.

Crypto Is Full Of Scammers

Today, blockchain puts us at the cusp of a technological revolution, but everyday people are put off by its complexity. The good news, however, is that this is typical behavior. After all, when the internet first came out, it was also the reserve of “techies,” yet decades later has become ubiquitous.

All the same, one issue that presents a problem is the scam reputation that cryptocurrency has amongst the general population. This alone is enough to turn tentative interest into outright rejection. And with CiperTrace reporting thefts, scams, and fraud totaling $1.2 billion in Q1 2019, it’s easy to understand why many outsiders feel this way.

Ciphertrace Q1 Anti Money Laundering report out today – https://t.co/qQBq5HK8jL

— nickfx (@nickfx) May 1, 2019

As well as that, the “shadowy” nature of cryptocurrencies doesn’t help the cause. And the fact is, criminals, do favor the remote and (semi) anonymous properties of transacting in crypto. On this point, economist, Joseph Stiglitz called for cryptocurrencies to be shut down. Speaking to CNBC, he said:

“I think we can actually have a better regulated economy if we had all the data in real time, knowing what people are spending.”

Responsibility Of Crypto Is Too Much For Some

As much as early adopters value the independence of a trustless system, in reality, most people want an intermediary. Without a third party layer of protection against loss of private keys, fraud, and mistakes, having sole responsibility for managing your cryptocurrencies can be a frightening prospect for some.

And third parties, such as banks, offer a convenient solution in sorting out mistakes. Being able to call a number and speak to someone, who will immediately deal with your problem, provides a level of reassurance that doesn’t exist in crypto. With that in mind, perhaps the mainstream isn’t ready for the responsibility that comes with being your own financial custodian.

Mass Adoption Will Come

But then again, Brian Armstrong, CEO of Coinbase, thinks it’s only a matter of time. In a recent AMA, he spoke about volatility, scalability, and usability as the obstacles to mass adoption.

In terms of volatility, Armstrong cited the increasing use of stablecoins as a way to offer price stability. He also addressed scalability by talking about the development of the Lightning Network, which he sees as rivaling Visa for TPS one day. However, he was less optimistic about usability, admitting that the space faces many challenges in this respect. He said:

“[On apps] it’s still too complicated to go there. To be able to sign in to your wallet, whether that’s a Chrome extension or on mobile. It should work like WeChat, or something like that. Where when you go to the app, it already knows who you are, and it has your payment method already attached. And with one tap you can complete an action or pyament. So we need to get that useability simplier, and simplier and simplier.

Tweet123Share221ShareSend
Samuel Wan
Samuel Wan

Samuel Wan

Samuel Wan is passionate about different cultures and eating good food. He has years of experience working in business and finance — a burgeoning interest in Bitcoin and cryptocurrencies since 2017. UK based.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin Cash

Bitcoin Cash (BCH) Plunges 6.7% As Social Media Shows Overhype

Data shows bullish sentiment around Bitcoin Cash has exploded on social media, potentially explaining the coin’s pullback from its 17-month...

Keshav Verma 3 hours ago
Ethereum

Institutional Ethereum Staking On The Horizon As Grayscale Prepares Move — Details

Institutional staking may soon receive a significant boost as reports emerge that Grayscale is preparing to stake its substantial Ethereum...

Godspower Owie 5 hours ago
Ethereum

Ethereum Price Will Still Climb Above $5,000 As Long As It Holds This Level

The Ethereum price has spent the past weeks stuck in a wide consolidation zone, testing bullish momentum as analysts anticipate...

Scott Matherson 6 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin

Countdown To ‘Bitcoin Bottom Day’: Why September 21 Could Change Everything

Ronaldo Marquez 15 minutes ago
circle-deploys-usdc-hyperliquid-next-wave-of-crypto-investment-tw

Circle選擇部署USDC穩定幣生態:以HyperLiquid為核心的加密投資浪潮

Peter Chow 2 hours ago
ASTER

Backed By CZ, Aster Token Ignites With 1,650% First-Day Rally

Christian Encila 2 hours ago

Premium Sponsors

Press Releases

  • ドージコイン 今後 の価格予測:ETF発足で新たな成長ステージへ

    ドージコイン 今後...

    14 hours ago
  • リップル 今後の価格予測:現物ETF効果で4ドル到達を狙うXRP

    リップル...

    14 hours ago
  • 仮想通貨プレセール:専門家が次の有望ミームコイン候補を予測

    ...

    14 hours ago
  • 仮想通貨おすすめ:次のブルランでシバイヌを超える成長候補の4トークン

    ...

    14 hours ago
  • 新しい仮想通貨トレーディングボット、エコシステム大型アップグレード前にICOで400万ドル突破目前

    ...

    15 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.