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Why crypto mass adoption won't happen anytime soon

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by COINS NEWS 79 Views

Even though I believe in crypto, I don't think it will reach mass adoption anytime soon. Here's why.

As an IT guy, I know for sure that most people are not tech-savvy. I have friends and relatives who don't know their email password, or even their email address. Some of them text or call me every time they forget a password because they don't know how to reset it. Others are barely able to install apps on their phone, but they don't need to do that because they only use it for chats and social media. I even have a cousin who used the same password everywhere because she though it was universal ("her" password), and not specific to each site or app. Not kidding.

Crypto may be easy for most of us, but I don't really expect the average user to actually "use" it, other than, maybe, buying a coin or two on Coinbase and keeping it there. Do you really think these people would learn how to do their own research, choose a reputable wallet, store their seed phrase safely, and use DeFi farms and pools? I'm pretty sure most of them would screw up by sending coins to a wrong address or network, delete their wallet without backing it up, or fall for the most basic scams like "give me your 12 words so that I can initialize your wallet".

Crypto is too complex and not ready for mass adoption yet. Too many networks, wallets, tokens, and scams. Adding networks to MetaMask, bridging to layer 2s, paying gas fees, granting and revoking authorizations, and so on, is not really user friendly. Everything needs to be as simple as sending a text. We need more minimalist wallets like Muun or Wallet of Satoshi, where everyting is done under the hood. Transactions must be done with one click with the smallest possible risk of screwing up. Until that, crypto will only be for us nerds. It's like Linux: arguably better than mainstream alternatives, but if you ask 10 friends, 9 have never heard of it.

submitted by /u/walterpadick78
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