Why are Filipinos afraid of crypto?
Not all people have heard about crypto. Most of the people not aware of crypto think it's just a type of scam on the internet. I'm not saying all of them are legit types of online money because I will be a liar if I say so. There are those legits and there are those scams. The problem here is that they are not willing to learn about crypto. One thing in their mind for sure is they are afraid of investing, normally ignorant about it.
Some people said that the Philippines is a decade behind America or any other progressive country. I found it true because upon educating myself on the internet I must say Yes. How much more crypto is in the Philippines when most Filipinos are not aware of Bitcoin. There were those people I had conversations with who didn't really know what crypto but had an idea what Bitcoin is. They only know that it's online money, so if you'll approach someone and talk about crypto. It's not a good move to encourage them to be educated. The correct word to tell them is "online money" that will come into their mind about Bitcoin and that time they will be interested.
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Talk about crypto, they will be clueless and start discouraged about letting their money run on the internet. They thought that it's better to invest their money in banks which they found safe there. Ignorant people about crypto think that way for sure. We can't blame them because the internet exposed them to a lot of scams that are happening on the internet. Maybe this is one of the main reasons why they'll decide to hold their money instead.
I've been educating myself about crypto for almost 3 years and haven't found a single person who could finally show interest. I opened up about the good things about crypto. I even told them to make them think that their money will be safe. I tried my best to educate them but after our conversations or after they listened, it's just forgotten. One thing is very clear, they are afraid to learn about crypto because they don't trust it.
Last year I advised my sister to place her money in coins.ph. She's living in Italy and she's been sending money for my mother. I asked her how much payment she paid in sending money and she said that much. I was surprised how big and so I told her to try crypto which would lessen the money she'd pay. I looked at it and I told her about how much the difference was if not sending it through a bank account or money gram. I explained the best I could so I could help her in not spending that much. Sad to say she ignored it and just told me, "I don't trust it because what if it will just be lost."
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Indeed, we don't know whom to catch if money will not be sent. However, crypto doesn't work like that if it's not a scam. I've been using bloctrades.us in my transactions because it's easier compared to other exchange sites. I must say I didn't experience any money loss in my transactions. Simply because the site is not a scam. Just like any other thing in the real world, if we know it's legit there's no way we can't experience losing money.
The Filipinos are afraid because they don't really understand well how crypto works. They are afraid because they have no idea of the process before there will be a money transaction. It's about taking a risk and at the same time educating oneself. If they will be educated, who doesn't love crypto? Who doesn't want an indefinite price that can make someone's money bigger? They forgot the fact that even banks can't be trusted since all the cash money is in their hands. Unlike crypto as long as it's a decentralized platform they don't have access like hive.
Thank you for reading
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