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I did crypto Google searches like beginners. Here's what they are and are not made aware of.

All Cryptocurrencies

by COINS NEWS 40 Views

we all want crypto to be adopted, and it is slowly but surely getting more and more adopted by each day. But every new adopter is a beginner, and most of them will start with a simple google search to see how they can start off in crypto.

So I did some google searches similar to what a beginner would do, to see what sort of results I get, and what these results tell them, and what they are almost never made aware of as beginners.

Search 1: How to buy Bitcoin:

A lot of people know of bitcoin more than they know about the term “Cryptocurrency” at first. and most are interested in buying that at the beginning as it is the most popular, biggest, and has the highest potentials.

here is what they are made aware of:

  • Blogs siting sources to buy bitcoin, Most commonly finance apps like PayPal, and CEXs. They recommend you store them there. But also say you can opt for a hot or cold wallet.
  • Bitcoin.com making people aware of “Not your Keys, Not your crypto”. but almost only recommends their own wallet and site to buy and store bitcoin, as if no other options exist. Though at the end they briefly suggest CEXs and P2P exchanges, but without any recommendations.
  • Results of CEXs. most other results are of CEXs, or similar blogs to the above.

So what are they not made aware of:

  • DEXs for the most part, barely mentioned (as p2p exchange) and doesn't seem that any appear in search results.
  • Of the variety of better options when it comes to CEXs, or hot wallets. Most blogs are made or (potentially) sponsored by a CEX or hot wallet, and recommend their own service, or the usual Binance, or Coinbase with other options rarely seen.

Search 2: Best Crypto Wallet

What beginners are recommended to use is usually a CEX, mostly Coinbase. Other wallets are recommended like Metamask, Trust wallet, and Exodus, though not as “for beginners”.

I was surprised with lack of wallet made blogs that recommend themselves, most results were blogs recommending mostly the same stuff.

It is good they were made aware of both CEX, Hot, and Cold wallets.

Though for Cold wallets the most recommended one was typically Ledger, with seemingly no mentions of the drama that happened a while ago, so that is the most thing they are not made aware of.

Search 3: Is Crypto a Scam.

Search results with this don't tell you crypto is a scam, but instead tell you that it is a volatile investment with high risks.

Then they proceed to instruct you on how to avoid getting scammed. Here's what the usual recommendations:

  • Avoid unexpected contacts
  • Ignore being told to, or pressured to, do something with your crypto (invest in something)
  • Look out for “free money” either promised or ones that appear in your wallet.
  • Look out for faked exchanges and wallets
  • Look out for impersonated celebrities promoting certain crypto.

Those were very good recommendations. It would have been great to recommend avoiding signing contracts, fishy airdrops, and how to revoke signed contracts. As well as to avoid meme cryptos or cryptos with no much purpose in general.

Overall I was pleasantly surprised with the info given, at least only CEX recommendations were not at the forefront of everything at all times, with the inclusion of the occasional hot and cold wallet recommendations.

Of course, it could be made better, especially with more non-biased sources that include more variety of options, especially recommending and recognizing DEXs more often.

What do you think about these results?

Edit: Note that I used an ad blocker, meaning I avoided any promoted search results, that could affect what a beginner sees (usually it's CEXs like Binance that take these spots)

submitted by /u/thespygorillas
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