Despite more than a decade of existence, cryptocurrencies are still viewed with suspicion by a large part of the global population. In Brazil, it’s no different. Even with the growth in the use of crypto assets, the narrative that “crypto is dangerous” still dominates public opinion, but why does this stigma persist? And how can we change this paradigm?

Fear Has Deep Roots

Since the emergence of Bitcoin in 2009, the crypto ecosystem has undergone massive transformations. In 2024, more than 580 million people around the world were already using some type of crypto asset, according to the 2024 Global Crypto Adoption Index by Chainalysis. In Brazil, it’s estimated that around 12 million people bought cryptocurrencies in the last 12 months, the country consistently ranks among the top 10 in global adoption.

Still, fear persists. A study by Morning Consult shows that even among those who have heard of crypto, more than half still associate it with scams, fraud, and instability. This perception doesn’t come from nowhere: it is fueled by three main pillars, the history of scandals, lack of technical understanding, and most importantly, the media’s role in shaping collective imagination.

The Media’s Role in Demonizing Crypto

Cases like the collapse of FTX, Ponzi schemes such as Atlas Quantum in Brazil, or NFT-related scams made headlines in major news outlets. While reporting on financial crimes is essential, there’s a clear imbalance in coverage: scandals make headlines, while advances in blockchain technology, such as decentralized identity projects, stablecoin usage in high-inflation regions, or community governance tools, rarely get the spotlight.

This editorial choice directly impacts public perception. One example: in 2023, Rede Globo aired more than 20 segments on “crypto scams,” but none about the successful experiences of financial inclusion using stablecoins in northern and northeastern Brazil, as highlighted in reports from the Brazil Crypto Report.

It’s like talking about email only as a phishing tool, ignoring its essential role in corporate communication.

Technical Complexity Pushes People Away

Another factor contributing to fear is the language. Terms like "staking," "wallet," "DeFi," "layer 2," or "hashrate" are real barriers for beginners. Many companies still fail to make their interfaces more accessible, which perpetuates the feeling that this universe is reserved for specialists.

According to Electric Capital, more than 70% of new wallets created in 2024 are “non-custodial,” which requires users to understand concepts like seed phrases and digital security. This is not trivial and one mistake can be irreversible. It’s understandable that many simply give up in the face of this complexity.

But the Reality is Changing

Despite all of this, the crypto ecosystem is evolving and maturing. Governments and regulators around the world are finally treating cryptocurrencies as an inevitable reality. Brazil, in fact, was a pioneer in regulating virtual asset service providers (VASPs), providing greater legal security for users and companies.

In addition, major tech and retail companies are testing ways to integrate crypto payments. In 2025, Nubank already allows customers to buy and sell Bitcoin and Ethereum directly in the app. Visa and Mastercard have launched pilot programs with USDC for faster and cheaper cross-border transactions.

Meanwhile, educational initiatives are also growing. Web3 Valley, Blockchain Academy, and Ethereum Brazil are promoting free courses, hackathons, and meetups focused on usability, diversity, and inclusion.

How to Change the Paradigm

To shift the perception from “crypto is dangerous” to “crypto is a useful and safe tool,” we need coordinated action on three fronts:

Accessible education: Simplify the language, translate technical concepts into everyday language, and promote content that highlights real use cases, like low-cost international transfers, traceable donations, and sovereign digital identity.

Better usability: User experience is still a major bottleneck. Projects that focus on abstracting complexity, such as wallets with social logins, email-based recovery, and gamified interface, have the potential to attract new audiences.

Responsible media: The press needs to balance its coverage. Scandals should, of course, be reported, but success stories and social impact deserve equal attention. The narrative needs to be less sensationalist and more educational.

Conclusion

Cryptocurrencies are neither good nor bad, they are tools. Like any technology, their impact depends on context, intention, and how they are used. The fear still exists because we are not telling the whole story.

It’s in the hands of the crypto community, content creators, journalists, and users themselves to change this paradigm. Not with exaggerated promises or technical jargon, but with transparency, education, and empathy.

If we want the world to see cryptocurrencies as something trustworthy, we need to act accordingly.