Topic: Younger Generation and Revolut (Read 475 times)
The younger generation has been systematically being taught about Bitcoin and blockchain. They will understand that Blockchain is a powerful, transparent, and exciting tool to make the world a better place. I think the next generation will drive the crypto market cap to become the largest in the world with even more amazing crypto projects.
I think the new generation now are aware of something new that they do not know. They are trying to learn and practice about that thing to see if that thing is good or bad for them.
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There is also a degree of FOMO, it always happens when there is an uptrend.
My daughter know about Bitcoin and my involvement but was previously sceptical,
now that Bitcoin has PROVEN itself she (and many others) deem it a viable option.
My task now is to educate her so that she then can educate her friends.
I also have Bitcoin in a third-party app. Though I wouldn't encourage it that much because of what the OP already mentioned on how his/her daughter doesn't have control that much on how she holds the coin.
I am kinda worried most of the time that my third-party app might consider questioning me on how much I hold just on how much Bitcoin is right now and freeze my account.
Well if you are going to keep your coins in an online wallet then it could be a good idea that you only keep a portion of your portfolio there, so in the case they begin to ask questions about it and you do not feel like answering then you only lose a very small capital, personally I would encourage people to never hold any amount of money in wallets like that regardless of how practical you may think they are as the risk of your funds being frozen is simply too high to ignore. I am kinda worried most of the time that my third-party app might consider questioning me on how much I hold just on how much Bitcoin is right now and freeze my account.
I also have Bitcoin in a third-party app. Though I wouldn't encourage it that much because of what the OP already mentioned on how his/her daughter doesn't have control that much on how she holds the coin.
I am kinda worried most of the time that my third-party app might consider questioning me on how much I hold just on how much Bitcoin is right now and freeze my account.
I am kinda worried most of the time that my third-party app might consider questioning me on how much I hold just on how much Bitcoin is right now and freeze my account.
I think all the younger generation will meet bitcoin and blockchain they must know about technology and they will be in control going forward for this system.
Hopefully that will be the case but if they came from an ignorant household with ignorant parents, I think that they are going to be having a hard time accepting bitcoin. Good thing for you OP that your daughter discovered bitcoin, hope that your guidance will be of big help to her, I suggest that not just observe but to also be an active mentor to your daughter.
I think all the younger generation will meet bitcoin and blockchain they must know about technology and they will be in control going forward for this system.
If you are that worried about your daughter using Revolut, I think that you should teach her the hard way so she can secure her bitcoins.
This is the exact thing I would do — hold her by the hand. It's not enough that she's showing interest in Bitcoin, you have to make that interest worth its while for her. She can easily get distracted once she ignorantly falls victim of hack or scam. As her father and a veteran member of a Bitcoin forum you just got your first close ardent Bitcoin disciple. So, make it count. Don't be a distant observer to her. I don't think monitoring and directing her on this will be counted as infringing on her privacy or freedom if that's what you're worried about.
Revolut is fine, it's a legit service that I also use, not for storing/buying/selling Bitcoin though. I don't really understand your frustration though, it's a legit banking service that has incorporated cryptocurrencies into their services. A similar example would be Paypal. It kind of works like an exchange would, you don't have 100% access to your coins, your coins depend on their service.
She is not frustrated about Revolut service or legitimacy but she trying to make her daughter understand the disadvantage of storing one's cryptocurrency holding in a custodial wallet which is totally not advisable.Having said that, Revolut service shouldn't be compared with Paypal service cause they totally offer different service
Not that familiar with Revolut but overall its good that you're daughter had realized on whats the benefits or opportunities that she can get when he do invested or deal up with bitcoin.
The issue i have seen that she wasnt able to transfer those coins to other wallets? thats quite absurd for a platform to have.Better sell off those to fiat and find another
platform which she can really pull off those coins into a non-custodial wallet rather than she let those coins sitting into their platform for long term.As long
you dont possess those coins then those arent considered to be yours fully.
The issue i have seen that she wasnt able to transfer those coins to other wallets? thats quite absurd for a platform to have.Better sell off those to fiat and find another
platform which she can really pull off those coins into a non-custodial wallet rather than she let those coins sitting into their platform for long term.As long
you dont possess those coins then those arent considered to be yours fully.
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Revolut is fine, it's a legit service that I also use, not for storing/buying/selling Bitcoin though. I don't really understand your frustration though, it's a legit banking service that has incorporated cryptocurrencies into their services. A similar example would be Paypal. It kind of works like an exchange would, you don't have 100% access to your coins, your coins depend on their service.
She is not frustrated about Revolut service or legitimacy but she trying to make her daughter understand the disadvantage of storing one's cryptocurrency holding in a custodial wallet which is totally not advisable.Having said that, Revolut service shouldn't be compared with Paypal service cause they totally offer different service
Revolut is fine, it's a legit service that I also use, not for storing/buying/selling Bitcoin though. I don't really understand your frustration though, it's a legit banking service that has incorporated cryptocurrencies into their services. A similar example would be Paypal. It kind of works like an exchange would, you don't have 100% access to your coins, your coins depend on their service.
I guess this answers your question ..and I quote from your article : " Money management app Revolut, which provides crypto trading as part of its wide range of services, stated that it has seen around 300,000 new digital asset customers during the past 30 days.
That is certainly a lot of new customers within a short time period.
I know some people that are using Luno.com and they are very satisfied with their services... but I do not know if they cover the US and EU countries. 
(Look like they are targeting the 3rd world markets)
The younger generation is APP driven, so if a service can be accessed on their phones ...then it will draw their attention.
That is certainly a lot of new customers within a short time period.
I know some people that are using Luno.com and they are very satisfied with their services... but I do not know if they cover the US and EU countries. (Look like they are targeting the 3rd world markets)The younger generation is APP driven, so if a service can be accessed on their phones ...then it will draw their attention.
Indeed, life is really centered around the smartphone.
I have an idea! i'm going to buy her a Ledger Nano S and an OTG cable. [I use this myself]
1. she gets to take control of her Bitcoin [she revolutes me the FIAT, I buy and transfer it to her Ledger]
2. she gets to interact with her Bitcoin on her phone throught the Ledger app
I think you might try and use normal offline wallets and even encourage her to do so since bitcoins was indeed made to kill the third parties and at the same time to help the community to stand up for themselves, to attain not just a financial revolution but at the same time make people free from the government, companies, big whales. Holding bitcoins and not knowing it's concept might give her an Investment opportunity but at the same time why not engage in it fully? It's not just for tech people, there are wide varieties of sections that one can continue to dig deeper in. These kind of apps and businesses for sure does help people to easily reach their target but they can very easily Manipulate the market or stop the users from making their independent move. I do believe that you should rather try and ask her to download an offline wallet not a days they are as easy as softwares like revolut but at the same time they are more anonymous and secure. You also have your independence.
I guess this answers your question ..and I quote from your article : " Money management app Revolut, which provides crypto trading as part of its wide range of services, stated that it has seen around 300,000 new digital asset customers during the past 30 days.
That is certainly a lot of new customers within a short time period. I know some people that are using Luno.com and they are very satisfied with their services... but I do not know if they cover the US and EU countries. (Look like they are targeting the 3rd world markets)
The younger generation is APP driven, so if a service can be accessed on their phones ...then it will draw their attention.
That is certainly a lot of new customers within a short time period.
I know some people that are using Luno.com and they are very satisfied with their services... but I do not know if they cover the US and EU countries. (Look like they are targeting the 3rd world markets)The younger generation is APP driven, so if a service can be accessed on their phones ...then it will draw their attention.
Younger generation are really the ones who are up into the latest technology and they were also the ones that are the risk takers that are willing to seek new knowledges the world has to provide based on what I am seeing because they tend to explore more to satisfy themselves into learning what can benefit them on their own good sake. It is not surprising on how the younger generations are into easily being driven into engagement into something like Bitcoin because of the era where they are born, the technological advancement is present and when it comes to anything related to it added by the fact that Bitcoin is something valuable specially at this time, younger generation will surely be attracted and be easily convince to get engage with it.
It is very nice to see that today's young generation is very enthusiastic about technological developments. Therefore Bitcoin, which does include
advanced technology, is sure to attract the attention of the younger generation. Especially with the price of Bitcoin which continues to rise, making
it easy for the generation to prefer investing in Bitcoin over traditional assets. In my opinion, we can buy Bitcoin anywhere, as long as the platforms
we use to buy Bitcoin are popular and have a good reputation. So we don't have to use Revolut to buy Bitcoin, after all I have never used Revolut,
so I can't give an opinion regarding Revolut.
advanced technology, is sure to attract the attention of the younger generation. Especially with the price of Bitcoin which continues to rise, making
it easy for the generation to prefer investing in Bitcoin over traditional assets. In my opinion, we can buy Bitcoin anywhere, as long as the platforms
we use to buy Bitcoin are popular and have a good reputation. So we don't have to use Revolut to buy Bitcoin, after all I have never used Revolut,
so I can't give an opinion regarding Revolut.
This is why I say that whoever is going to be the first to bring user-friendliness to a cryptocurrency is gonna be the first cryptocurrency to truly turn mainstream. Most of the crypto knowledge requires a lot of time to spend learning, and time is something not very easily affordable nowadays.
I can't take what Revolut does with respect. I think they're doing more damage to Bitcoin than good since their customers know nothing besides the fact that they're "holding Bitcoins". I'm happy to know that younger generations get into BTC more than the previous ones, but at the same time the fact that they choose convenience over anything else is quite sad.
I can't take what Revolut does with respect. I think they're doing more damage to Bitcoin than good since their customers know nothing besides the fact that they're "holding Bitcoins". I'm happy to know that younger generations get into BTC more than the previous ones, but at the same time the fact that they choose convenience over anything else is quite sad.
Congrats to you and to your daughter.
Now, the next step is to make her feel that she really holds her bitcoin. If that's not possible in revolut, she should buy elsewhere like Binance.
It's easier than that app.
I agree, as a first step is not that bad, after all I think most of us even if we got some bitcoin we decided to store it at first in an online wallet or an exchange, however as we know the whole point of bitcoin is to hold your coins yourself so no one but you has legitimate access to those coins, the OP should try to explain to his daughter and if possible to her friends about the advantages of having your own wallet and hold your coins, but still it is nice to see the new generations being interested in bitcoin and what it brings.Now, the next step is to make her feel that she really holds her bitcoin. If that's not possible in revolut, she should buy elsewhere like Binance.
It's easier than that app.
They think that it's fine to store it on online wallets but with revolut as he said, she cannot send it. I have no experience particular in using that platform.
But if he says that his daughter can't, they just have to go onto another better exchange.
I think if you are going to be investing your bonus or investing anything into something you need to do your research are remains in control. According to what I have read it is like Paypals bitcoin offering in that you can only sell or buy and therefore do not even own them. What sort of investor would invest money into something they give over ownership to someone else when they could easily claim it themselves.
The beauty of Revolut is that you can use it as a bank account but buy and sell bitcoin etc in a very simple easy way.
I believe this is the future.
Revolut is easy to use and the fact that your account is not just for buying and selling coins is a big plus.
Even simpler platforms like Coinbase, don't feel as easily accessible as Revolut.
I believe this is the future.
Revolut is easy to use and the fact that your account is not just for buying and selling coins is a big plus.
Even simpler platforms like Coinbase, don't feel as easily accessible as Revolut.
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