How to Explain crypto currency to Senior Citizens ?

in Project HOPE13 days ago

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.

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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.

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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

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I thought I would find the answer here, hahaha. But you still got me thinking, my mother is 72 years old and although it's not that she is reluctant to know, rather she hasn't had the need to understand this.

My sister and I both work at Hive and I work here and she only knows that we change our earnings to fiat currency, but is unaware of everything else.

But it is a good question. There must be videos about it or books.

A person of 60 years in many countries are proactive and full of technology, that you raise is present even in younger people who do not know a thing about investments and less in crypto.
greetings

I think it is a good idea to teach even the senior citizens about cryptocurrency and its uses. This will further lead to more mass adoption of cryptocurrency and before long, it will go mainstream.

Nice one buddy

Hi @reeta0119

How to explain crypto currency to seniors, good question and more if we consider that seniors are the most affected of the economic crisis that the world economy is going through, educating them will be a great step.

Best regards, be well.

Hi friend, interesting topic, but really complicated, I think it can be a bit frustrating for them as they have always been used to something else. But of course it's not a bad idea, ideally we could all acquire that knowledge and put it into practice. Greetings.

Hello @reeta0119, It seems wonderful to me that you want to teach your mother to invest with crypto assets, this is the new economy and we must all learn to invest and generate profits with crypto assets.

You are quite right in saying that it can be a bit difficult to make her understand the advantages of investing in crypto assets and the care we must take in this, but surely once she knows this she will like it and see that it is worth it.

Thanks for your nice comment.

 12 days ago 

Another yet interesting topic @reeta0119

I've been thinking about it many times in the past. I've tried to figure out how to explain Crypto to eldery people and I kind of gived up on trying. My impression is, that most of the time I'm losing them already whenever I mention words like investing, inflation, store of value.

Any of those few makes them drift away. Almost like they would all be hardly interested with topics related to MONEY.

Would you ever have similar impression?

Never give up. We will surely find a way. This question brought to us by @reeta0119 is very, very interesting. I will try to make time to answer it. It would be great to find content about it.

I look forward to. thanks

Hi @crypto.piotr
Apologize for the late reply.

Indeed making our seniors understand is tough and I have gone through the same many times. Even after trying for few times I am not successful and looking for some easy way can help me.

You're right that when we use words like investing, inflation, store of value then they lost interest and I kind of share the same thoughts like you. Thanks.

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