No need to ignore crypto naysayers: Changpeng Zhao, CEO of Binance

Skeptics have called Bitcoin just about everything and “almost nothing” over the years.

You’d discover that the most venomous criticism of revolutionary technology may be coming from “experienced and respected crypto skeptics.” According to Binance CEO Changpeng Zhao.

Zhao spoke about this in an interview on Binance TV recently, where he says:

“There are two types of crypto skeptics. One type is people who have been around for a long time and are experienced, respected people. So when they say something negative about crypto, we should listen to them. The other type is people who have just jumped on the bandwagon because crypto is popular and they want to get some clicks. We can just ignore those guys.”

The Binance CEO went on to say that the first type of skeptic is an experienced and respected individual. Often make valid points that should be listened to, even if they may not be fully knowledgeable about the space.

“A lot of times, when people who are not in the industry say something negative about crypto, they may have a point. It doesn’t mean that we should just follow them, but we should listen to what they have to say.”

So how does the crypto market appeal to this group of influential personalities and experts?

In his most recent blog, released on Friday. Zhao advises “walk a mile in their shoes” and learn where they came from. Why dwell on everything when it’s all typical and expected behavior?

Being protective and defensive doesn’t always come from a maligned place. Good-faith actors want to protect their users and community. Central banks, regulators, and financiers, in most cases, want to avoid risk and provide security. So when people ask me how I deal with trusted, respected professionals admonishing crypto, I try to walk a mile in their shoes,” he wrote.

CZ advises against taking everything to heart

You’ve heard it all, and you’re engaging a little of them — and clearly, they have no idea what cryptocurrency is. Instead of ‘ignoring’ their criticism, try to empathize with them from the standpoint of “their personal experience and position.”

This is how you turn whatever criticism they offer into a profit-making opportunity. What happens then?

There’s no need to ignore them or take everything to heart once you’ve dug a little bit deeper,” Zhao advises.

There’s a lot to be learned from Binance CEO Changpeng Zhao’s thoughts on crypto critics. And how to get to know that what they’re saying is coming from a particular perspective.

Zhao’s advice is not to ignore them but to understand. Where they are coming from so that you can learn something from the situation.

This way, you will be able to take their criticism. And turn it into a positive learning experience instead of just writing them off as naysayers.

In a nutshell, blockchain technology is a disruptive technology, and like any other new technology that disrupts. It will be met with suspicion, those who are afraid of it may well doubt its existence.

But as Binance CEO Changpeng Zhao points out. This doesn’t mean that we should just write off all criticism from cryptocurrency naysayers.

If we take the time to understand where they’re coming from, we might just be able to learn something from them.

So next time you encounter a crypto naysayer, don’t just tune them out – listen to what they have to say. And see if you can use their feedback to make your investment strategies even better.

You can read more on CZ’s arguments on the Binance blog.