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's not just being middle aged, i wouldn't invest to something i woldn't understand or follow either. (Not that i understand most cryptocurrencies in the code level.) But cryptocurrencies are riskier, especially most altcoins, which you shouldn't bundle as one asset called "altcoins" as they differ in quality a lot.
Cryptocurrencies might be better tool to earn money now if you know what you are doing, but if you were in cryptos last 2 big bear cycles if you wouldn't say it's easy.
It's mentally exchausting to averaging in into something that goes down, especially when everyone close around you is telling you that you are an idiot for doing so. Or selling at the top, when everyone around you tells you are idiot and will miss the moon train.
In the end, you will get no credit from anyone, everyone just think you were lucky and say that they could have done it if they had bought the bottom. But at least you get money from it, so there's that.
