How to Explain crypto currency to Senior Citizens ?

avatar

My mother is very good at disciplined investment and I have learned this from her. Although she does not use anything from technology and but she makes sure that her monthly investment with banks is well paid on time. Even now when she is 60+ years of age but still she is more interested to invest in gold. IN India we have some festivals like Diwali and some more when we like to buy some gold. Indians love gold and my mother is also the same that's why I used to buy gold every year. Until 2 years back, I was investing only in gold but I changed my investing habit after joining this community however its not easy to convince my mother to do the same.

image.png

src

Today I was thinking that what if we can convince our parents to make part of crypto but there is one and biggest difficulty is to make them understand. Crypto is completely backed by technology where we have zero manual intervention so what should be the way to make our senior citizens understand this so that they can also be part of this revolution. MY father invest in the bank and reply on the income which is paid by the bank on a monthly and quarterly basis but after lockdown, bank interest rates have gone down drastically which has affected his income.

I am thinking to explain a bit about crypto basics in easy language and I am also searching on the internet if I can get some nice videos to understand. I know lots more about crypto but I can't explain them all because they are not much aware of technology and it will be difficult for them. I think that this problem is not for me only and hope there would be many more like this who might be struggling with this issue.

I have moved to 100% crypto in terms of my investment and I want my parents to use their funds to be part of some projects that can help them earn passively. I have already told them that crypto is risky and they understood that they have always invested in the fastest option including bank deposits, gold, silver, and property. I know that it will not be easy to convince my parents towards crypto but this is something that I want to try and see how it goes.

image.png

src

When we say that crypto should get mass adoption then we cant exclude our senior citizens because they can also contribute well towards crypto provided they are explained. If we can somehow manage to make them understand crypto the things can be amazing. These days we can see multiple ads in tv channels about crypto so its obvious they get curious and will ask questions since not everyone can go on the good and search for the information.

I am not sure the best way to follow but I am on it and will see I get this task done soon. Any suggestion will be highly appreciated and I will surely give it a try if I can and looking forward to your ideas, suggestions, etc.

Thank you so much

Stay Safe

Posted Using LeoFinance Beta



0
0
0.000
7 comments
avatar

Nice article, reblogged and tweeted.

Posted Using LeoFinance Beta

0
0
0.000
avatar

Glad that you like it. Thank you so much

Posted Using LeoFinance Beta

0
0
0.000
avatar

I always suggest to seniors that they should start off allocating less than 1% of their portfolio to this new asset class. Worst case scenario? They less 1% of their money - is that the end of the world?

Then set them up with some cointracking software so they can keep track of the value of their portfolio. As their interest grows you can start giving them small tidbits of information about how all this stuff works.

0
0
0.000
avatar

About "Today I was thinking that what if we can convince our parents to make part of crypto but there is one and biggest difficulty is to make them understand" I think that is hardest part of all what you say. Good article, Greetings"

Posted Using LeoFinance Beta

0
0
0.000