Crypto world can be weird

If you start reading about exploring new projects to invest in or explore, you might find the crypto world to be weird. I say this because there are thousands of projects in the world and not all the projects have with super concept but still, they are at the top. The experience is weird because you see two sugarcane pieces. One is real sugarcane and another is a plastic sugarcane made to look exactly like a real one. Now it is weird because all the ants leave the real sugarcane and surround the plastic sugarcane and try to extract sugar from that.

This is exactly what is happening in the crypto world. As I said there are several thousand projects in the crypto world where many projects are on different blockchains. When you are serious about expanding your investments and explorations, you might find a project or a concept but if you can compare it with what we have already in another blockchain which is solid but not very popular, you might start feeling weird. We all know that Ethereum is a popular blockchain but people invest a lot in Ethereum because it is popular and people want to build on top of Ethereum even though the gas fees are very high.

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Transaction fees are weird

If you want to withdraw 50$, you might end up paying 30 dollars for the gas fees which is very stupid. This gives a feeling that small investors, traders, or transaction people cannot build anything popular on Ethereum and try to onboard the new crowd. The most difficult part here is that if you try to onboard people from Hive inside Ethereum, people will not be convinced to use the blockchain. The reason is that they care about paying 35 dollars as gas fees for sending some money to someone. This is not the case on Hive and this is one of the biggest advantages we have on Hive where we don't have to pay any transaction fees.

That's why people from Hive find it hard to get used to the concept of transaction fees on any other blockchain. But sometimes other blockchains where this fee is very small are acceptable to some extent. For example, I pay some of my bills using BCH because it is one of the blockchains where the transaction fees are very small. At least acceptable compared to ETH. The weird thing is that people are still using ETH and would like to start their projects on ETH by paying huge fees.

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Onboarding complications

The concept itself is complicated for newcomers. People think that they can invest in crypto. Some of the thoughts that go on their mind are as follows:

• People talk a lot about Bitcoin and they would like to invest and become rich.
• They say we are in the early stage of cryptocurrencies so lucky to be an early bird.
• Make a lot of money by just getting involved in the crypto world
• Many games in the crypto world can be played to get rewards.

These are some of the beliefs and this is how onboarding happens in the crypto world. The biggest challenge for someone who is joining is that even after they enter, they are not sure what they should be doing. Sometimes people even take a few years to understand some of the concepts. As this concept is very new to the world, it takes several attempts even for a sharp guy to grasp these concepts and try to do something fruitful.

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Posted Using InLeo Alpha