Altcoin is good. It’s hard to persuade parents to invest in it. - page 13.

modem5673

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Quote from: LittlePrinceCat on April 27, 2021, 11:56:42 AM

Crypto is not popular in my homeland. People in my homeland love to invest stocks and bonds. And real estate is the most popular investment. Only few people invest in crypto. My dad loves to invest in stocks but he seldom has a positive net income from the stock market. It’s the fact that crypto is a better tool to earn money, especially for the Altcoin. Then., I try to persuade my dad to invest in Eth and BNB. They’re worth to invest. Take myself as a good example, I spent the weekly pocket money on my first Eth two years ago and earn more than 10X of money. It seems that Eth is still going up in the future. It’s a good investment during this economic recession period. I tried my very best to persuade my dad to buy Altcoin like Eth and BNB but he thought that crypto was very risky and unreliable at all. Investing in crypto is the best way to earn money in this economic recession. It means that my family loses the chance to become rich since my dad does not invest in crypto.
It’s hard to persuade those middle-aged people to invest in crypto. Do you think so?

It can be difficult to convince anyone with absolutely no prior knowledge of cryptos. not everyone will be friendly and easy to interact in crypto, be it the people closest to us or other teenagers. because here it depends on someone's luck in trading. but our job is only to provide knowledge to them about cryptocurrency.

acener

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Quote from: LittlePrinceCat on April 27, 2021, 11:56:42 AM

Crypto is not popular in my homeland. People in my homeland love to invest stocks and bonds. And real estate is the most popular investment. Only few people invest in crypto. My dad loves to invest in stocks but he seldom has a positive net income from the stock market. It’s the fact that crypto is a better tool to earn money, especially for the Altcoin. Then., I try to persuade my dad to invest in Eth and BNB. They’re worth to invest. Take myself as a good example, I spent the weekly pocket money on my first Eth two years ago and earn more than 10X of money. It seems that Eth is still going up in the future. It’s a good investment during this economic recession period. I tried my very best to persuade my dad to buy Altcoin like Eth and BNB but he thought that crypto was very risky and unreliable at all. Investing in crypto is the best way to earn money in this economic recession. It means that my family loses the chance to become rich since my dad does not invest in crypto.
It’s hard to persuade those middle-aged people to invest in crypto. Do you think so?

Actually I also experience the same thing there are some people who doesn't want to invest in crypto but also loves to take risk on other investment.
I think the best that we could do is show them a good result or show them how crypto has been from the past and how it is right now,
If they still doesn't want it then there is nothing we could do but to leave them on their own business,
We tried our best to give them a chance but they are ignoring it so do your best on your own and show them a result surely they would regret it but at least they would also be into crypto by then.

Xinarae*

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It is better to invest in crypto but no one can guarantee when the prices of currencies will go up and down. Just as it is easy to make a profit by investing you also need to be prepared for risk it is not possible to invest without risk the reason why it is difficult to persuade parents to invest is because they do not know much about crypto and are more accustomed to using fiat than cryptocurrencies. If you know how to use it properly you will invest in crypto the bull run at the market is a good time to invest.

pelumi20

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It's not only cryptocurrency alone, it is hard to persuade our parents about most technology or anything they don't understand. They usually like to keep things simple and invest in systems that have been proven over a long period of time. I will advise you to leave them to their believe and continue making your money in cryptocurrency.

kevinzxz

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yes indeed for now investing in cryptocurrency is very good and of course you will definitely get a big profit from investing in cryptocurrency at this time, because market condition are in a bull run, but when market condition is in a bear run, then of course you can lose a lot (almost 50% of your capital), because every investment that provides a big profit, then of course the risk is also big, so if you want to invest or invite your friends and family to invest in cryptocurrency, then they must be prepared for the risks of investing in cryptocurrency.

noorammak

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Investing is a risky business and only done when we have free money.
Your dad is investing in stocks and real estate, he is making a good return. That's great, talk to him a couple of times about cryptocurrencies. If the results are not good, it's okay. Each person has their own path in investing. Your father is not as knowledgeable about cryptocurrencies as you are but he is very good at stocks. That is his strength. Please respect him and continue your path. If you successfully invest in crypto and get a lot of success, maybe one day your dad will really care about and invest in crypto just like you.

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Quote from: totaleclipseofthebank on May 08, 2021, 01:38:09 AM

Quote from: pelumi20 on May 07, 2021, 03:32:50 PM

It's usually hard to persuade the older generation to invest it cryptocurrency and that is because most of them are not tech savvy and it is not good to invest your money in something you don't know. Try to enlighten them about the technology and how it is the future before you advise them to invest.

Many people have the same approaches but as far as know, it only has a slight influence. Perhaps they are too old so as they do not want to spend their time to learn something new. I guess we have to do it on our own

It would be a shame if someone didn't want to learn something new for such reasons,
because by learning something new we can get a new experience too,
but anyway it's up to them and I really respect his decision

iTradeChips

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I don't know what is it with parents and siblings. I guess they do not want to participate in cryptocurrency. I just tried to persuade me mum to try out investing in cryptocurrency. She was like doubtful and even asked my wife if she knows crypto and if she knows what I am possibly doing. She did said yes cause we are earning money in crypto. Anyway after that talk, in about a couple hours or so, up comes my sister messaging me why my mom is being dragged in this crypto thing? I did said not to do it they don't want to and that is the end of my persuasive talks with mum. Quite a bummer really.

totaleclipseofthebank

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Quote from: pelumi20 on May 07, 2021, 03:32:50 PM

It's usually hard to persuade the older generation to invest it cryptocurrency and that is because most of them are not tech savvy and it is not good to invest your money in something you don't know. Try to enlighten them about the technology and how it is the future before you advise them to invest.

Many people have the same approaches but as far as know, it only has a slight influence. Perhaps they are too old so as they do not want to spend their time to learn something new. I guess we have to do it on our own

llecrf

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In theory it might be difficult for me to persuade someone to invest in crypto without knowing how it works, the risks and benefits they will get.
Some of the risks that potential investors need to know, I will suggest stable coins then they will know how to get profit from holding altcoins such as the list of top coins in CMC

aprilnot

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use doge, and describe the use cases that can be done with this coin. start small, explain slowly. like elon musk hypnotizing his followers. then parents who do not have an understanding of investing can understand a little. then we can explain about bitcoin, the importance of privacy, the benefits of blockchain technology and the profits that can be obtained from this investment. if we want to invite them to invest, we must first explain everything that is easy for them to understand. don't immediately tell them to buy and say it must be profitable. this way will get a lot of rejections.

uneng

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I think the high risk and volatility aren't what prevent them from investing, because they could start with small amounts like 10$-100$. If the issue was the high risk, low investments would be the solution for them, still they have no interest for it though. It's hard to persuade older people to get into crypto investment because they can't see its potential, they can't see it returning huge profit along the time, so they just ignore it.
But things are changing, because now it's impossible to not see how profitable crypto market is. Older people are seeing the progress crypto currency is doing, faster and faster each new year. Sooner or later they will have to change their opinions about crypto currency and many will probably start investing too, like their sons and grandsons.

Koutami

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Dont only persuade the Boomers to invest crypto by show off the price graph only, Boomers its not like most of us which Invest or Trade with many emotions.
Try to show the fundamentals of any good coin that you want to invest, in my case i always persuade people to invest on EOS by show the scalability, usecase, governance system, consensus mechanism, etc.
So if the price rising you dont judged by them as a lucky person, but as a mindful person who know a great stuff and takes the opportunity.

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Quote from: devollito on May 07, 2021, 01:34:48 AM

It is not as easy as you said, invest in crypto. We are in billish matket and everybody make profit. You will see a lot of people lose their money when bear matket comes and many people panic sell. Our parent hard to understand because this is not their world. They understand to invest in real life and have real asset. Give them time and reference to read.

There are a lot of projects and it is really hard to find a potential project which from we can make a profit in the future. For that, you should make hard research and maybe you can increase your chance. The market is not stable and it is changing every minute, some people can be easily affected by this movement and prefer selling their coins. l advise that never panic sell your currencies. In this situation if you can be more patient, maybe you will get money in the future.

nightwishx

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Quote from: arifteguhr on May 06, 2021, 09:45:33 PM

The first thing to do is educate parents about bitcoin and how to invest. because of course they are still new to investing. You must be able to introduce them to the uses and benefits of bitcoin itself before inviting them to invest. The limitations of parents in obtaining information and still having a mainstream mindset have made many refuse to be interested in investing . if they understand they will certainly be interested in buying

Very good, but usually parents in their 50s will prefer more traditional investments. (I'm saying this based on my experience from the developing world environment). because you know, they think digital assets are quite new to them, and most of them are lazy enough to learn them, and besides that the high risk and high fluctuations make them reluctant to invest.

Cappex

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Quote from: pelumi20 on May 07, 2021, 03:32:50 PM

It's usually hard to persuade the older generation to invest it cryptocurrency and that is because most of them are not tech savvy and it is not good to invest your money in something you don't know. Try to enlighten them about the technology and how it is the future before you advise them to invest.

Yes, to just give advice and explain I think it is still very good to do, but in this case there is no need for persuasion to invest right away, let the parents' intentions drive their minds to invest and ask us, I think that is the way to go much better than outright persuading him to invest.

I believe that forcing someone to make an investment is a wrong thing, rather discussing and trying to explain what bitcoin and altcoins represent could be the best approach to intrigue and therefore allow them to make the first choices.
I also think that new generations of investors will have no problem juggling these technologies.

pelumi20

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It's usually hard to persuade the older generation to invest it cryptocurrency and that is because most of them are not tech savvy and it is not good to invest your money in something you don't know. Try to enlighten them about the technology and how it is the future before you advise them to invest.

JoMarrah Iarim Dan

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Quote from: LittlePrinceCat on April 27, 2021, 11:56:42 AM

Crypto is not popular in my homeland. People in my homeland love to invest stocks and bonds. And real estate is the most popular investment. Only few people invest in crypto. My dad loves to invest in stocks but he seldom has a positive net income from the stock market. It’s the fact that crypto is a better tool to earn money, especially for the Altcoin. Then., I try to persuade my dad to invest in Eth and BNB. They’re worth to invest. Take myself as a good example, I spent the weekly pocket money on my first Eth two years ago and earn more than 10X of money. It seems that Eth is still going up in the future. It’s a good investment during this economic recession period. I tried my very best to persuade my dad to buy Altcoin like Eth and BNB but he thought that crypto was very risky and unreliable at all. Investing in crypto is the best way to earn money in this economic recession. It means that my family loses the chance to become rich since my dad does not invest in crypto.
It’s hard to persuade those middle-aged people to invest in crypto. Do you think so?

I think if you really want to persuade your dad make him realized more why crypto is better than stocks. Make him impressed continuously at multiple times. But if it still does not work. I think it is definitely fine. Just make you and your family through you and your doings in crypto. On that case, you and your family don't miss the chance to become rich. Your dad is having a good days in stocks while you have yours in crypto. Still a perfect combination.

Woodie

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Quote from: LittlePrinceCat on April 27, 2021, 11:56:42 AM

Crypto is not popular in my homeland. People in my homeland love to invest stocks and bonds

This sounds like a trading community, keep nagging them to try crypto, you will be a local hero for introducing them to this new asset called crypto as they will likely see better profits than stocks and bonds.

Quote from: LittlePrinceCat on April 27, 2021, 11:56:42 AM

It’s hard to persuade those middle-aged people to invest in crypto. Do you think so?

I like to think crypto is is more likely to be used by millenials with a few middle aged people how probably are tech savvy.

Ucy

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Compare rates on different exchanges & swap.

What makes crypto less risky is the way you use it. Are you using crypto on platforms that can limit you whenever they want? Do you use it on platforms that gives you little/to no power to prevent such abuse? You should focus more on well decentralized/safe, very useful, open-source cryptocurrency projects that allow you (and anyone else) to fully and easily control your coins/data, take part in full network consensus... and benefit from other important ideals/principles of Blockchain like transparency, immutablity, censorship resistant, permissionless/trustlessness, anonymity-friendly/privacy-friendly, good/clear rules, etc

If you find cryptocurrency projects with above ideals, that are solving very important problems in efficient manner, you can get your parents to invest in them long-term without too much fear. They could invest from 10% (& above) of what they want kept securely for them long-term or short-term

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