Topic: What are the benefits of cryptocurrency to the illiterate people (Read 340 times)

Illiteracy does not mean they are blind in using technology. The proof is that there are still many illiterate people who cannot read but are not technologically literate. It may be a bit complicated to teach them about bitcoin and how it works technically - but they can understand the basics and how to use it. They need a mentor who can help them understand it bit by bit - but if these people are idiots, then bitcoin is probably useless to them.

I came across some examples in the real life – they were not in school but had smartphones in their hands. They also have bank accounts and have some balance there - but to make deposits and withdrawals, these people usually need the help of others.

They are illetrate people don't mean that they don't have the brain to run a business and become successful in it. They are illetrates don't mean that they don't know money or that they cannot buy whatever they want in the market and take back their balances. They only cannot read and write because they were not thought on how to read and write. It doesn't mean that their brain is not functioning.

Down here in my country, there are a lot of illetrate people who own small scale businesses that they run and use that to take care of their responsibility and even train their children to school. There are jobs for the illetrate people, so they can have someone to guide them and use some pictures to teach them how to go about investing. I have been to the bank several time, that people will come to me to help them write on their withdrawal slip, their details and how much that they are willing to withdraw. Some of them sign their signatures and some of them uses their finger print to withdraw their cash.

In early 70s and 80s, farmers were the ones that do make good amount of money in the country, and most of these farmers are illetrates. But they sell their farm produces and use the money to invest in landed properties. Some illetrates have houses that they built through family. So because you are an illetrate does not mean that when you are destiny to be rich, illetracy will steal that from you. You will still be rich. I have seen an illetrate woman that was desperate to know how to read and write, and she achieved it by having a lesson teacher that comes home to teach her.

So whoever have the passion and zeal in invest in bitcoin will do that by learning it so that he can invest and benefit from bitcoin. The illetrate people have children that they sent to scholl, those children can help them out when they it is comes to reading and writing. As an illetrate, you would not go and start up a business that is bigger than you, but a small business that you can understand how to run. They are many people like that down here in my country who are illetrates but they are doing business that do not need you to be writing and reading all the time.

I don't think there are any actual benefits over fiat money for them unfortunately. Cryptocurrencies are still difficult to use safely, and if you are not able to Do Your Own Research(DYOR) when you buy or use some crytpocurrencies you're very likely to get scammed or robbed at the end, and if you can't even read basic documentation for users, you are very likely to make mistakes and to lose your funds.

Well, I'm going straight, Bitcoin couldn't help and give them benefits.
It is not going to say that Bitcoin is just for smart or knowledgeable people but can't take the part that investing in Bitcoin requires knowledge. It was hard to say but they are not capable enough for this.  For some point, let us assume that they have money and can afford to invest but this is not all about money, it also needs proper understanding. Maybe having someone who can be trusted to accompany them and manage their investment probably works but this is not really a good idea.

Being illiterate faces more hardships compared to literate people. It is not gonna be easy to navigate bitcoin. Even people who have studied find a hard time grasping the concept of bitcoin or the economy in general.

It’s hard to say how cryptocurrency can benefit an illiterate individual if he or she can not personally or directly access cryptocurrency. Maybe one could start with learning how to read or write first before diving in into cryptocurrency.

In that sense, cryptocurrency could be beneficial to illiterate people by serving as a motivation for them to study and learn.

If we talk about illiterate people i.e. people who can't read or write then it will be difficult for them to use Bitcoin because it require some technical knowledge also. If you are illiterate then even conventional banking system will be hard to use.
Bitcoin benefits unprivileged people like the one who are out of banking system due to some reason to own a bank account. The traditional financial eco-system is tightly controlled by centralised institutes and they control who can enter the system.

Illiteracy simply means the inability of someone to read and write, and as such, that people don't know how to read and write, it should stop them from owning assets, of which Bitcoin/cryptocurrency are all digital assets that could be own by anyone, either literate or not, in as much as you understand the concept, the basic fundamentals, and is ready and willing to accept the risk involve in Bitcoin investment. Because apart from the general benefit Crypto/Bitcoin has (i.e ability to be in control of your own finance), Crypto has no special benefits to either literate or illeterate.

That depends if the person have someone who will guide and teach what to do and in the end, he/she will be able to do what we can do at least like import a wallet and such. If no one guide them then there are no benefits that cryptocurrency have to the illiterate people. For people who have someone to guide them then one of the benefits is gaining profit and having other opportunities to earn profit. You can guess what will be the result or what will happen if you say the word illiterate people who are into crypto without guidance.

To the illiterate? Unless they have a family member or a friend helping them with their Bitcoin purchases and transactions, I would probably say that there are no benefits (that I can immediately think of).

But if they do have someone helping them with all the text, in order to obtain Bitcoin, then they gain the same benefits as anyone else who hodls Bitcoin.

I cannot really imagine an illiterate person even using any kind of modern device, not to even mention perusing on the internet...

But who knows... 

Define illiterate people. People without formal education and secular education or people with secular education but not formal education.

The definition of cryptocurrency is vast.

What are the benefits of cryptocurrencies to my definition of illetrate people

- If the illiterate people especially for merchants , in can be used to scale up their business through- payment for cross border goods using bitcoin to the seller. the return on investment is good

- If the illiterate people starts to accept bitcoin as a payment option for goods bought. He is likely to get new customers who prefer to pay with bitcoin.

To benefit from crypto you do not need a formal school education. You just need to know how to read, write, think critically, and do your own research. All of which can be developed overtime by the individual if they set their hearts to it.

Once you hear illiterate, you know what it means. Since illiterate means someone who knows nothing about a specific thing, what do you think they will do to these people rather than educate them about the crypto space? Because if they do not have any knowledge about it, I am sure they will not benefit from it because there is no way they will make use of it that will benefit them.

So if someone is not educated about bitcoin or even crypto currency in general, he or she cannot benefit from it. Remember, it is not like fiat money, where you just pick and buy what you want. In crypto, you must follow some procedures before you can use it.

As stompix said, at least YouTube has subtitles. This would be more like selling deezer/spotify/tidal sub to a deaf person.  


By a certain percentage? How on earth can you be a successful person (at this day and time) if you don't know how to read and write?


Who has time to actually think through before writing a reply when you need to fill your signature quota?

And what benefit can bitcoin bring to illiterate people as opposed to literate ones? This is a completely stupid question. Bitcoin gives all people the opportunity to invest and use decentralized money. Whether a person is literate or not does not mean that he cannot understand the basic meaning of cryptocurrency, this is the whole secret of bitcoin's success.

If illiterate means uneducated people, then they will face some problems taking advantage of Bitcoin because it is something new to them and they are totally ignorant about the net or technical aspects. But it is not true that they cannot do anything. For example, when smart phones first came out, illiterate people did not know how to operate them, or many were afraid to use them. It was surprising to them then. But is time still the same? Now illiterate people know why even small children know how to use smart phones. Everything seems difficult in the beginning, but it is not always difficult.

And if you say illiterate means no knowledge about Bitcoin, then I mean I didn't know about Bitcoin even for the last few months. But since I started learning about Bitcoin, I'm not holding back and will continue to try to understand it. But even though I was educated, I faced a lot of problems in the beginning because I didn't have much technical knowledge. I never stopped trying to learn.

At one point, though, OP I also thought l was having so much trouble understanding that illiterate people on how to accept bitcoins, how to invest, how to secure their wallets, and how to trade could be scammed because they have no knowledge of bitcoins. . .But now this mistake is broken because when something new is introduced, it may be difficult to adapt to people at first or it takes time, but at a certain stage everything is learned or forced to learn.

So why will illiterate people be left behind? Are they not working because they are illiterate? Rather, they are responsible enough for their own work. Hopefully, they will also be able to benefit from Bitcoin if they learn to understand its essence.

Well, at least youtube has subtitles and you don't need to hear things when watching cats fall the furniture on the birthday cake  

But I'm totally with Rikafip on this!

Seriously people, stop your 4 lines of how great BTC is for everyone in this universe and think for a moment!
We talk about somebody who is illiterate, somebody who doesn't understand letters and words, there are plenty here who obviously can write 4 lines but they have no clue how bitcoin transactions work even after two years on the forum and you think you're going to make a bitcoin user from an illiterate person?
Ignoring how nearly impossible it will be for him have you thought on
- how easy he would get scammed?
- not only is he illiterate but most of those people live in non-English speaking countries, so when using bitcoin you will have to deal with another hurdle
- how is he going to buy bitcoin being illiterate? Two blue paper notes that he uses to buy two kilos of bananas for a twenty round shapes and one pole like character and then one hook like character on a screen?


Ok, let's see it:
Explain to me like you would to to an illiterates person what a cryptocurrency is!
(at first you're going do deal with the fact that I can't read your answer)

Illiteracy is like living blindfolded and these people are disadvantaged in society. Cryptocurrencies do not make life easier for an illiterate person. This is because their access to information is limited and they cannot understand it without support from someone else. An illiterate person cannot use cryptocurrency. Because they need to have an electronic wallet for this, they need to have transfer information. Unfortunately, they do not have the capacity to do these things. However, if this person goes to any bank, they will handle their business more easily.

Cryptocurrencies are cool for people who can't read so well. You can use them on basic phones, no need for fancy banks. Transactions are cheap and you have more control over your money. It's like having your own digital wallet making it easier for anyone even if reading isn't your thing just to be part of the money game

Total illiteracy reduces your chances to be successful by a certain percentage because you will be unable to understand very well many investments information that are complicated. Cryptocurrency is not very complicated to understand and can be very easy invest in as long as you know how to buy the bitcoins and then keep the bitcoins safe. Cryptocurrency gives opportunities to illiterates, same opportunity with the literates.

Literacy can mean tons of things. If it's the most basic meaning, that is, inability to read and write, then Bitcoin is definitely not the top priority because reading and writing are much more important, and without them, it will also be very hard to use Bitcoin. If it's digital and economic literacy, I think Bitcoin can be a part of obtaining those kinds of literacy, but there are other important things here about passwords, knowing how to use different programs, how to navigate the online world, how to avoid financial scams, etc. So, to a digitally illiterate person, Bitcoin is inaccessible, and to an economically illiterate person, Bitcoin can be very risky, along with crypto-related scams.

I would say that it offers everything the same as the other group of people, only maybe they don't know how to take advantage of it.


This sounds to me like someone are offering a YouTube subscription to a deaf person.  

Yes, I am also surprised by their logic. Most illiterate people have low economic capacity so they do not have sufficient ability to invest. Then how will they use a computer when they can't read, illiterate people usually have low intelligence and it is very difficult to teach about computers if they can't distinguish letters. Ah. they're just people who are afraid of having different opinions, maybe


Of course, and would an illiterate person prefer to invest? If so, the number must be very, very small. What? they don't need literacy skills? how can they have a wallet, secure a wallet, trade on an exchange, if they can't read and write? with the help of others? Of course it is possible, but what are the risks? For normal people, the risk is big, especially for illiterate people, they are not able to analyze Bitcoin. Throwing them into a high risk investment means you are adding more than 10x the risk to them, that's a bad choice for them guys. I know bitcoin is good but not always a good thing is accepted in all circles


yeah, smart thing

Even if there are illiterate people, you can explain BTC to them as in the concept of cash or barter. Meaning, BTCs can be exchanged for something like goods, services, etc. due to its significant value on the market. Additionally, you can also explain it to them that BTC works something as an investment- meaning you can store it for a relatively long time and it will incur value at the end (e.g. likening it to precious metals such as gold, etc.).

Even if there are illiterate people, this does not hinder them from learning about BTCs. More importantly, if they have the capacity to understand a complex currency such as BTC, then this can be their first step of learning how to read and write- thereby making them literate in the process.

In conclusion, teaching them about BTC can kill two birds in one stone- they learned about BTC; and they also have the opportunity to be literate at the same time.

It is still same thing to me even if a voice base bitcoin wallet is created (even though I don’t think we will get there considering the privacy associated with bitcoin, anything face recognition or voice wouldn’t be welcomed). But still let’s say hypothetically this is created, how does an illiterate person still communicate with the device, remember this are people that can hardly read instructions or even write out anything. First of all they need to able to actually even use the internet which most are definitely finding hard to do, and we all know bitcoin is more complex than that. Have you thought about how they will handle cases like bitcoin transaction needing RBF or them signing from a cold wallet to broadcasting on a watch only wallet. This are cases that hinders an illiterate person venturing into bitcoin. Worst his they trust a friend or family member to do most of this things for them before they get acquainted with it, which is a very big red flag

Zero, nada, nilch. Those kind of people have far bigger problems than whether they can/should buy bitcoin or not.


Are you sure that you fully understand what being illiterate means? I mean, how can you expect from a illiterate person to successfully buy bitcoin, create a wallet and safely store it?

Bitcoin will continue to be useful for everyone even if that person is disabled. maybe illiterate people will have difficulty carrying out bitcoin transactions because they are hampered by their ability to see letters and numbers but i am sure that in the future the development of bitcoin wallets will continue to increase and we will see voice-based bitcoin wallets so that anyone and in any condition everyone can do bitcoin transactions easily.
in my country there are still quite a lot of people who are illiterate, but i see that they can still carry out buying/selling transactions well, because there are still many good people who guide them. i am sure this will also happen when transactions with bitcoin are carried out by those who are illiterate.

Logically bitcoin for illiterate people is not very useful, especially in digital-based things, but it depends on how severe the person the OP means is in illiteracy. Because if you only speculate wildly and assume that the person in question has a severe level of illiteracy, of course bitcoin will not be on their mind, because we need to get to know bitcoin and one of them is by reading, both in knowing that bitcoin, in making transactions, and being able to connect with bitcoin also requires good reading power so that it can connect with bitcoin and utilize it well.

Well that's the risk of illiteracy😁. But what you said does sound simple but in reality I see that bitcoin is not that simple, there are many factors in it that must be mastered and it takes a very long time. In essence, it is the flying hours that will answer, because I feel the sweetness and bitterness of being with him is exhausting sometimes people despair because of it.

If we do speak about being illiterate then it would be talking generally about knowledge from basic stuffs until into something which is a bit technical. It would really be just that depending on a certain
individual whether they would really be working hard for them or would really be just that sitting idle.It would really be just that depending on how they would really be doing such things
because success is something that should really be needing to be hard work for and not really just that not doing anything at all.

Being illiterate  isnt a solid reason that you wont really be progressive in life. It would really just that depending on how someone would really be doing such thing
and as a person who does have that knowledge then it would really be just that depending or up to you whether you would be teaching someone
in regarding about crypto investment ideas and learnings on which it would be something that be helpful for them.

Are they alone? Can't they learn things? Literacy is something we can learn regardless of age. They may only be illiterate but they can still understand things. They just need guidance therefore, they could still benefit from cryptocurrencies the way we do, like no differences at all but it would depend on their will to do so. With benefits, it could be profit by means of investment, alternative mode of transaction and payment, and more.
But not all literate people are into investments right? What's missing to them? Definitely will and it does not require literacy in the first place. They COULD benefit from this industry and as you said they just need to learn things first. But there are ways and that is if there's someone to guide them with things. Risk is understandable by all people by the concept of 'gambling'wherein everyone is aware of. Athough things are different between investment and gambling, the thought is simply how risk is manageable.

Investing in the right coins will make them prosper financially and physically but since they are illiterate and cannot understand how bitcoin works and its potentials, then they will surely face a lot of challenges in managing crypto investment. However, everything can be learned in crypto but it takes time to make them able to read and write, and understand every thought or idea that talks about cryptocurrency so patience and perseverance are a must.

In addition, cryptocurrency can help them escape from the traditional payment system and use cryptocurrency instead most particularly bitcoin, but in order for them to learn how to use crypto as a mode of payment, then they should acquire necessary knowledge that will make them understand the benefit of crypto as a currency.

Wow! In your opinion, are illiterate people capable of running a business? Perhaps yes, by farming or something similar. But I haven't met such people. In my opinion, people capable of organizing their businesses are talented and have skills that appear after education. But I won’t argue; perhaps you’ve met such people.
But how can these people, without literacy, understand where and how to enter at least the seed phrase from the wallet?
If a person is illiterate, Bitcoin will not improve his life until he matures. Usually, such people have a low level of mental development, so Bitcoin is useless for them.

It depends on the kind of illiteracy you're talking about, illiteracy can be in different field either in Education which involve not being able to read and write,  financial illiteracy and various kinds of illiteracy. However if you're talking about illiteracy of the person not knowing about cryptocurrency, that person is just like every other person that doesn't have an idea of cryptocurrency and can learn about it haven been taught about it. Everybody that knows about cryptocurrency today at one point in time never knew a thing or two about it, they later learn about it and improved on it.
So the benefit of cryptocurrency to an illiterate person is for that person to learn about cryptocurrency and get the knowledge of it and start investing based on the knowledge he has gotten.

Bitcoin will give them financial freedom. Actually, they are the best holder of Bitcoin since they will surely not explore and just hold until they can sold it in high price. Literate person usually explore more in crypto that always result to confusion and multiple bad decisions.

Most of the successful person that invested on Bitcoin are those who hold the most since its value is increasing long term consistently. Illiterate person can definitely hold Bitcoin longer if there will be someone to guide them on how to purchase it. The important question is how can you convince them to invest while they don’t know how to read and write?

It is the benefits that bitcoin has generally. There is no segregation because literates and illiterates can all buy and hold bitcoin. So if we have to talk about the benefits of bitcoin to the illiterates, that means you are also talking about its benefits to people that are literates as well. And the benefits are to hedge against inflation and to be used as an investment. If the price goes up, people that hold it will make more money and also helping the economy.

There's no benefit. It is better for illiterate people to be taught to read first. In my opinion, it is unreasonable for anyone to think that Bitcoin can be an investment for those who are illiterate. Meanwhile, even normal people have a big risk, especially illiterate people will have difficulty finding technical and fundamental analysis about Bitcoin. Their risk would be greater than someone who can read and I don't think it's a good option for them. I know bitcoin is a good technology but not all good things are accepted in all circles

Your question is vague. What is your definition of illiteracy, it can be seen from a different perspective. Is it the inability to read or write or the lack of some basic skills? People who don't know how to read or write might not be able to benefit from cryptocurrency because they need these abilities to be able to navigate through the cryptosystem. Reading and writing are important skills for crypto users, without them the person will have to look for assistance.

Anyway, the crypto industry has contributed to the reduction of poverty in some countries. Most crypto service providers pay taxes to the government and these funds are used to build schools and other educational facilities that help to educate people. Some of these firms also engage in social corporate responsibilities like building schools and other educational facilities like libraries to foster literacy.

The term "illiterate" is, in my opinion, unsuitable for the type of question you are posing. Perhaps you are preferring those who are ignorant or uninitiated about cryptocurrency?
First off, since cryptocurrency is new to them, some people might not believe it at first, especially those who do not know about it. However, if they are aware of what it is and how it can impact and transform their lives, perhaps they will be interested in finding out more information about these cryptocurrencies. If there are people eager to tell you how the crypto world is going, I believe it will enable them to sharpen their understanding even more. Perhaps they won't be left behind, given that we are dealing with concepts from the human race, both present and future. I think it takes a while for people to come to terms with the fact that cryptos exist and that we can comprehend them.

Bitcoin adoption will not allow their background to turn their back to the ground, it will give them the very necessary opportunity every other users stands to benefit from its adoption, we don't have to go to school before we can show interest in bitcoin adoption, aal we can do is to learn the way its been used for our financial freedom being a decentralized digital currency, most of the rich fellows in the society today are not literates, but they make business and control millions, its all about determination on what we want.

It is the same as those who are not illiterate but the thing is that these people can't take advantage of the benefits Bitcoin offers.  To get those benefits, these people (illiterate) need a helping hand.  They need another person who will make them understand by explaining Bitcoin.  But they should be careful because being unable to read and write is often exploited by greedy people.

Bitcoin precisely can be introduced to the illetrates ones by teaching them the basic knowledge of bitcoin. Teaching them how to invest in bitcoin will be a good help to them, since inflation is eaten up the value of our currency. The illetrates do have savings, some illetrates are rich and well to do, especially the ones in business.

Investing in a long term investment on bitcoin will help them make profit from bitcoin. Storing their coins in a self custody wallet and keeping their seed phrase safe. Buying bitcoin and transferring it to their wallet is the basic thing that they need to learn, so that they can start saving in bitcoin for the future. They don't need to know any other cryptocurrency apart from bitcoin to safe them from the risk of pump and dump. When they invest in bitcoin and hodli for long, the risk will be limited.

What are the benefits of cryptocurrency to the illiterate people?