Is Bitcoin still mistaken for a Ponzi scheme? Education may be the biggest obstacle to the popularization of cryptocurrency

In this era full of disruptive technologies, we have witnessed the birth and development of various cryptocurrencies, and various countries, governments and societies have shown great interest in this technology.

There are many reasons why users prefer cryptocurrencies, the most important of which is its strong liquidity. Other advantages of cryptocurrencies include high privacy, convenient transfers, and the potential for appreciation.

There are many cryptocurrency investment projects, with Bitcoin being the most popular one. However, the correct knowledge about these currencies is not so popular, even among the users themselves.

Cryptocurrency enthusiast Hetty Hembadoon Orkuma said:

Bitcoin is nothing more than a currency.

Cryptocurrency education is scarce

It’s no exaggeration to say that education on the basics of cryptocurrency is scarce.

Orkuma said that the topic of cryptocurrencies is sensitive. Especially in Nigeria, people think that there is no difference between Bitcoin and MMM scam (pyramid speculation scam). She believes that the increasing sensitivity of the public is one of the reasons why it is necessary to popularize knowledge about Bitcoin and other cryptocurrencies.

People must understand that Bitcoin is a cryptocurrency but anyone can use it for a Ponzi scheme. I am worried that some Ponzi schemes will be exposed and will jeopardize the image of Bitcoin in people’s minds, especially in Nigeria where most people think Bitcoin and MMM scam are the same.

Nigerian cryptography enthusiast and investor Roland Alexander believes that in addition to innovation, education is currently the most important for the development of cryptocurrency.

However, Alexander pointed out that there is currently a lack of relevant education and knowledge dissemination activities within the community.

Aside from innovation in cryptocurrencies themselves, education is likely to be a key focus in this space.

Cryptocurrency adoption depends on education

Bob Wood of Nexxus partners said that most people will only start using cryptocurrency after they truly understand the concept and advantages of it. Although the concept of cryptocurrency is becoming more and more popular and this year has witnessed many major events, many potential participants are still isolated due to lack of education.

He explained that, like all emerging technologies, cryptocurrencies are currently maturing and will soon become more convenient, secure, and more advantageous.

Cryptocurrency is less than eight years old, and just like PCs in the 1980s, it has unlimited potential.

Currently, most cryptocurrency industry events are in the form of seminars, hosted by specific suppliers or the founding teams of certain blockchains, startups, and tokens. However, universities rarely offer complete cryptocurrency courses (the history and evolution of currency).

Indeed, as investment expert Mike Maloney said in a public class:

The most successful investment in life is education.