Altcoins Talks - Cryptocurrency Forum
Local => Nigerian Languages => Topic started by: Yamzakid on August 18, 2024, 11:09:51 AM
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Most of our parents are committed to traditional investments such as bank deposits, and some of them can neither read nor write and some have never heard of cryptocurrencies before, so in this situation, if we see that they have intention to do any kind of profitable investment, how do we convince them to invest in Bitcoin?
I'm interested in knowing what you think of this discussion.
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Let's start with the obvious fact that most Nigerian parents aren't learned enough to understand most digital banking stuff pike bitcoin and crypto and that alone puts them at risk of losing their crypto investment. Their traditional method of bank investment works well for them since they understand how to manage it properly.
You shouldn't force them to put their money at risk. The best you could do for them is for you to personally understand bitcoin and crypto and them make profits of them and use from it to assist your parents in their personal investments.
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First you need to find out if your parents are risk bearers and the level of their patients while invested their funds with the expectations of making profits.
You don't need to convince your parents to invest on Bitcoin rather... You need to make them understand what Bitcoin is all about including its risks potentials.
Let them know how legitimate Bitcoin is because scammers has made it look unbelievable for older people.
Believing that you have invested on Bitcoin before that day, you can reference yourself worth on investing in Bitcoin to let them know how genuine and profitable investing on Bitcoin could really and then leave them with the decision to decide if they would take the dare to invest or decline.
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Most of our parents are committed to traditional investments such as bank deposits, and some of them can neither read nor write and some have never heard of cryptocurrencies before, so in this situation, if we see that they have intention to do any kind of profitable investment, how do we convince them to invest in Bitcoin?
I'm interested in knowing what you think of this discussion.
First talk to the about bitcoin and let them know that for bitcoin investment to appreciate in value, there is the need to wait for a long period of them, giving it few years, and with this understanding leads me to ask this question.
Do you think your parent have such time to wait for an investment to take year to appreciate a d be ready for liquidation?
Most old people believe more on daily business like what their can sell and buy on daily to surviywith the trade, such as owning a restaurant or business center, that the income comes in on the daily, bitcoin is a kind of too risky to the elderly ones most especially someone who's life depends on they investment to survive.
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If you really want to make them invest in Bitcoin, you can just introduce them to an online wallet that they could to pay using Bitcoin. Give them discount if they buy Bitcoin from you.
I would like my parents to alwo invest but I don't see them using the coins for something like casinos or buying on daily items since Bitcoin is not adopted widely in my town.
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It depends on the age of your parent and how much they are earning that will determine if you will introduce them to bitcoin. For those that are from 50 above, I don't think it is important for you to introduce them to bitcoin only if they are very wealthy and looking for where to throw extra value on. At least, you know that they can invest and will forget about the money for long. It will be good if OP try teaching youths who are open to accept changes than our parents who are used to the old fashioned life style. Invest in bitcoin with your own funds and not with your parent funds.
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I am still battling with some of my elderly and mentor friends to invest in bitcoin bit it is not easy to convince them. I am still on the move. At first you don't have to force them to accept your opinion. It is a gredual process. You tell them the advantages and the disadvantages. The risk involved and the benefits of short and long term investments. And when they see that the long term investment is good for their future and then they can plan for the DCA. And also explain the benefits of short term investment for the bear market that about to enter the bull run. And before you introduce Bitcoin investment to them, make sure they have reliable sources of income so that they won't depends on the Bitcoin investment.
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I think this is a very delicate discussion looking at the people and age involved here. At first the major thing i would consider is the age factor because most elderly people can not be able to withstand pressure or shock if anything funny happens when looking at their age and the nature of the investment. It is fine we talk with them as it regards to bitcoin investment but not compelling them to invest but only on their personal conviction. If they deem it worth investing then we can guide them through the process if otherwise, let them be.
Some elderly people do not really have that understanding of how digital technology works, not to mention when it has to do with digital finance, even after a series of explanations. They would rather make their physical investment than put themselves in a situation where they really do not understand how the process works. However, some will be willing to do so as they have funds and are well-equipped to do so, and that would not bother them a lot as they have other sources of income on which they would rely, so putting funds into bitcoin investments would not worry them compared to those who do not have good sources of cash flow.
One thing we should know is that in this part of the world, the elderly are not really digitally inclined and, as such, do not give in to digital investment except for those who have traveled far and wide and are exposed to lots of streams of income and investment. All through their life they have been used to the physical investment and do not have the idea what the digital aspect of finance is all about. If they are the type that do not give you money, they would think you want to scam them because they do not give you money and you have device a mean to take money from them by telling them what they have no knowledge and idea about.
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we have long been using fiat system and its not going anywhere as this has also transitioned in digital which they could be using easily as well without having to learn cryptocurrency which is another learning curve and they would think its a scam knowing they have to pay every transaction. they are more worried to their social security than investing on something new.
they'd be more trusting to the government retirement funds that will give them source when they wait for their end.
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It might be very hard to introduce Bitcoin to parents who rely on traditional investments but we can always start by explaining it to them in simple relatable terms, comparing it to something they know e.g "gold", address their concerns about volatility and security, and offer hands-on help with the technical aspects, enlighten them on how to start small to gradually build familiarity with this new form of investment and if they are risk takers and are willing to learn, then voila.
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It's going to be very challenging, especially if they are unfamiliar with technology. You can explain what Bitcoin is and how it can be an investment even if it isn't tangible like money is. You can compare it to gold or stocks. If you have invested in Bitcoin, show them how its price has gone up. Be patient with their questions and concerns. It may take time for them to warm up to the idea, but if you provide clear, straightforward answers, they will feel more comfortable about the idea of Bitcoin investment.
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how do we convince them to invest in Bitcoin?
I'm interested in knowing what you think of this discussion.
If your parents are successful and already have the culture of investing, there may not be any need to introduce them to invest in crypto or bitcoin because not everyone must invest in bitcoin. you can introduce them to bitcoin and the opportunities behind it but do not put pressure on them to invest in it because if things go bad and sideways and they made the investment in bitcoin without them fully understanding what it entails they will blame you for any losses they make. The goal and purpose of investment is to make money and if your parents are already doing that from other means of Investments it is okay and that is something you should accept.
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It's going to be very challenging, especially if they are unfamiliar with technology. You can explain what Bitcoin is and how it can be an investment even if it isn't tangible like money is. You can compare it to gold or stocks. If you have invested in Bitcoin, show them how its price has gone up. Be patient with their questions and concerns. It may take time for them to warm up to the idea, but if you provide clear, straightforward answers, they will feel more comfortable about the idea of Bitcoin investment.
Parents nowadays believes in physical assets that are they can see like gold, real estate, stock and bonds which will male them as lame people not want to listen to whatever you are telling them, since most of them thinks that anything about the internet might be a scam. I once talked to my uncle about bitcoin and he told me that bitcoin is not real and will fade away in no time. He didn't want to listen to me because he is rich, can you imagine that.
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The way bitcoin has been presented to our parents in the past will definitely affect our success in convincing them to invest in it.
Majority of our parents believe that anyone that’s involved with anything that has to do with “bitcoin” must be excessively wealthy - and also that most of the things that can be done with bitcoin are always illegal and thus the reason why yahoo boys are always using it to sing up and down.
The first thing that we’ll do if we want to successfully convince them is to get rid of their current view of bitcoin and let them know what it’s really used for and that it’s not just for the rich and anyone can invest in it and not just someone who owns two estates. It’s going to be hard but if properly done and also if we’re patient we should be able to get them to invest little in it.
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The way bitcoin has been presented to our parents in the past will definitely affect our success in convincing them to invest in it.
Majority of our parents believe that anyone that’s involved with anything that has to do with “bitcoin” must be excessively wealthy - and also that most of the things that can be done with bitcoin are always illegal and thus the reason why yahoo boys are always using it to sing up and down.
Let's start with the fact the old people can sometimes be very scared to try out new things and that fact alone makes them more vulnerable when it comes to investing in crypto. We often discuss and talk about hodling bitcoin however sometimes we underestimate the importance of security for a successful hodling period. Most old Nigerians aren't that good with digital and technical stuff and therefore it would give them a hard time trying to understand how to secure their hodlings from scams , phishing and hacks.
Just like you said too, many rumours and wrong information about crypto have been out there longer than the right and important information and as such you can't blame them much for believing that crypto is scam.
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Let's start with the fact the old people can sometimes be very scared to try out new things and that fact alone makes them more vulnerable when it comes to investing in crypto. We often discuss and talk about hodling bitcoin however sometimes we underestimate the importance of security for a successful hodling period. Most old Nigerians aren't that good with digital and technical stuff and therefore it would give them a hard time trying to understand how to secure their hodlings from scams , phishing and hacks.
Just like you said too, many rumours and wrong information about crypto have been out there longer than the right and important information and as such you can't blame them much for believing that crypto is scam.
And also, our society have been fed with too many false information, that anything that have to do with money and internet must be related to fraudulent activity. Most parents, or should I say the old won't even want to relate in anyway with what their children wants to present, because to most of them, life is nothing more than investing in lands or business. I can't really find a word to describe the problem here, but it seems majority of them are not up-to-date with recent happenings, unlike the young generations that we have today.
So, trying to convince parents might take a little effort than we imagine, and we must be prepared to answer every question that will definitely arise from curiosity or doubts.
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And also, our society have been fed with too many false information, that anything that have to do with money and internet must be related to fraudulent activity. Most parents, or should I say the old won't even want to relate in anyway with what their children wants to present, because to most of them, life is nothing more than investing in lands or business. I can't really find a word to describe the problem here, but it seems majority of them are not up-to-date with recent happenings, unlike the young generations that we have today.
So, trying to convince parents might take a little effort than we imagine, and we must be prepared to answer every question that will definitely arise from curiosity or doubts.
That's quite true. That's pretty much the reason you shouldn't try convincing them to invest in bitcoin. Firstly they actually don't have that genuine interest of wanting to HODL some coins for say probably "X" period of time so want to convince them to hodling some coins or investing some coins may give them this idea of bitcoin as a profit making scheme that they could probably just place a few hodlings and boom in just a short period of time they get a super return of Say 5X their investment.
Crypto currencies can be volatile however for the case of bitcoin it really doesn't work like that. Some may even get scared and tensed up when there is a little pullback in bitcoin's price and they toggle over to their wallet to check out their hodlings and they find out that they are a couple dollars short.
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Most of our parents are committed to traditional investments such as bank deposits, and some of them can neither read nor write and some have never heard of cryptocurrencies before, so in this situation, if we see that they have intention to do any kind of profitable investment, how do we convince them to invest in Bitcoin?
I'm interested in knowing what you think of this discussion.
Bitcoin is not a place for everyone to start with and you can’t get to convince everyone to invest in bitcoin. The type of understanding people have when it comes to investment is somehow less risky to what they might think bitcoin will be. Some cannot wait for that long to watch their investment grow without having to touch from the profits of the investment from time to time. For parents to invest in bitcoin, you just need to tell them the basics they need to know about it and explain in detailed how it works, both the advantage and disadvantage part of it should be known by them. If after that, they find interest in the investment, you can now go ahead and get them to it. You can’t persuade them, allow them to make their decisions themself. It is not easy though, but if you’re lucky, they may find interest in it.
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Hmm that one na very big war, do u want to turn lecturer overnight? Persuading ur parents to invest in Bitcoin depends oo and It's not an easy task because most African or Nigerian parents don't believe in this online banking they are very cautious when it comes to safety of their money or investment.
And u can only persuade ur parents to invest in Bitcoin that is if they have it enough because u as the child persuading ur parent to invest in Bitcoin ur mind no go touch ground oo.
One of the simplest way from my own idea to persuade our parents to invest in Bitcoin is only when they see it from you, e.g when they see that u no longer depend on them and they become very desperate to know how this is possible from there u fit follow them up.
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And u can only persuade ur parents to invest in Bitcoin that is if they have it enough because u as the child persuading ur parent to invest in Bitcoin ur mind no go touch ground oo.
One of the simplest way from my own idea to persuade our parents to invest in Bitcoin is only when they see it from you, e.g when they see that u no longer depend on them and they become very desperate to know how this is possible from there u fit follow them up.
The fact that you no longer depend on them doesn’t necessarily means that they will automatically start giving you a listening ear when it comes to bitcoin. There are some that might easily be convinced that’s those that are a bit educated about how the internet works and also is well acquainted with different online platforms but when it comes to those that are very traditional and are not very smart (in terms of technology) they might not even give you a listening ear even if you’re not asking them for money again because they’ll be scared that something might go wrong and their money will disappear into thin air.
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The mentality of the youngins(genzy's) are really different basically.Most parent's do not reallt believe in making money online or in the internet as well as investing in bitcoin because all this werent prirotied at their own time,even if such similar things were made,they would see it as a scam.
My parents for example shunned the idea of investing in bitcoin or any other coin at all for this same reason but unknown to them then that that is where the real money comes from.Now,what am i using to take care of them?This same bitcoin that they shunned few years back.Lol.
It's quite funny how the elderlies think most times but do we blame them?
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As children to their parent, we need to firstly assess our parent to know what intention they have towards us and in making a digital investment, if at all they have interest in bitcoin or not, because this is going to be the reason to faster their interest in going for it or going against it, when we know all this, then it will be the direction for us to know where to come in and how to start with them, by introducing bitcoin to them for an investment.
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As children to their parent, we need to firstly assess our parent to know what intention they have towards us and in making a digital investment, if at all they have interest in bitcoin or not, because this is going to be the reason to faster their interest in going for it or going against it, when we know all this, then it will be the direction for us to know where to come in and how to start with them, by introducing bitcoin to them for an investment.
Of course some parents are learned while some others really don't have a sound educational background. Although educational background can contribute, level of exposure still has a large effect on if your parents would accept to invest I. Crypto or not. Personally I wouldn't advise a child to bother talking to their parents about investing in crypto or bitcoin because they would be very vulnerable especially in terms of security.
Another thing to note is that in the process of trying to convince them to prioritise bitcoin investments, you may influence their expectations to become naive since they may begin to think that bitcoin investment is a way to multiply your money which is a red flag too.
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Most of our parents are committed to traditional investments such as bank deposits, and some of them can neither read nor write and some have never heard of cryptocurrencies before, so in this situation, if we see that they have intention to do any kind of profitable investment, how do we convince them to invest in Bitcoin?
I'm interested in knowing what you think of this discussion.
Most of our parents whom are old and already have this mentality that online stuffs are bad, they will not have any reason to what to change their mindset. And to me it's even better to just let them use the old systems they understand very well, that's because if something goes wrong you might be blamed. I know we can still put them through the process but then it might be stress full for people of their age. Imagine like times when BTC transaction fees are high and they end up using low fees for their transactions and probably get stacked on the mempool.. now you aren't around to help them bump the fee or something then they begin to panic that their money has been lost. No that it's bad to teach them o but for me I just let them be..
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And to me it's even better to just let them use the old systems they understand very well, that's because if something goes wrong you might be blamed.
With the way most people are now preaching bitcoin to nonbitcoiners they make it sound like as if there are no risks involved with investing in bitcoin. They just preach as if once you put your money into it in the next 2 years you’ll be able to start packing tonnes of money from it, they have completely neglected the risks that are involved either bitcoin and any other online investment.
now you aren't around to help them bump the fee or something then they begin to panic that their money has been lost. No that it's bad to teach them o but for me I just let them be..
Well, if they are going in for investment sake then there really isn’t any big deal with this though since they won’t be selling always and would only do it when they is a huge price difference (depending on the financial situation of the person though) if they are the type that can leave their for years then they won’t be affected much by this but if they are the type that don’t have enough capacity to keep their for a long period this might become an issue.
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With the way most people are now preaching bitcoin to nonbitcoiners they make it sound like as if there are no risks involved with investing in bitcoin. They just preach as if once you put your money into it in the next 2 years you’ll be able to start packing tonnes of money from it, they have completely neglected the risks that are involved either bitcoin and any other online investment.
Those are people making crypto investments look easy and at same time giving it bad name. They go out there preaching lies claiming that with crypto one can become a millionaire over night and when things goes south, the individuals no longer wants to have anything to do with crypto anymore. Yes a lot of people have become millionaires through crypto investments but it wasn't just something that happened in a blink, they were consistent and had enough patience to grow their holdings and portfolio. That's how crypto works.
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Most of our parents are committed to traditional investments such as bank deposits, and some of them can neither read nor write and some have never heard of cryptocurrencies before, so in this situation, if we see that they have intention to do any kind of profitable investment, how do we convince them to invest in Bitcoin?
I'm interested in knowing what you think of this discussion.
I completely agree with what Mia Chloe said, infact, it felt as though he/she was in my head to know what I was thinking while reading the op.
I don't know about parents in other continents of the world, but here in africa, specially in our dear country Nigeria, alot of our parents are either half of non educated at all, they managed to learn how to operate a Nigerian bank account simply because since things, specially technology, alot is shifting and nowadays, its very risky to keep money at home, so for this reason, many of them force themselves to learn to keep and operate a bank account.
With the complexity in crypto, starting from buying and withdrawing, and managing to keep the wallet where the crypto asset is stored can be very challenging for the avarage parent out there, better not to lead them into something as volatile as cryptocurrencies and it's investment, allow them to enjoy their old age, because the older a man gets, the higher their risk appetite is reduced.
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Those are people making crypto investments look easy and at same time giving it bad name. They go out there preaching lies claiming that with crypto one can become a millionaire over night and when things goes south, the individuals no longer wants to have anything to do with crypto anymore. Yes a lot of people have become millionaires through crypto investments but it wasn't just something that happened in a blink, they were consistent and had enough patience to grow their holdings and portfolio. That's how crypto works.
I believe that if any successful crypto investor wants to give advice to someone new, there is no way that the investor won't mention the risk part of crypto investment. Those who over hype crypto without remembering to lay more emphasis on the risk aspect are those that are not fully into the game. Their small investment is probably what's making them over excited, thereby forgetting to address the needful. Besides, have you noticed that when you meet with some people who are very good at certain things, they tend to scare you at some point with the disadvantage part of what they are into, that you are also interested in, which is same for crypto.
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~snip
Those are people making crypto investments look easy and at same time giving it bad name. They go out there preaching lies claiming that with crypto one can become a millionaire over night and when things goes south, the individuals no longer wants to have anything to do with crypto anymore. Yes a lot of people have become millionaires through crypto investments but it wasn't just something that happened in a blink, they were consistent and had enough patience to grow their holdings and portfolio. That's how crypto works.
I believe that if any successful crypto investor wants to give advice to someone new, there is no way that the investor won't mention the risk part of crypto investment. Those who over hype crypto without remembering to lay more emphasis on the risk aspect are those that are not fully into the game. Their small investment is probably what's making them over excited, thereby forgetting to address the needful. Besides, have you noticed that when you meet with some people who are very good at certain things, they tend to scare you at some point with the disadvantage part of what they are into, that you are also interested in, which is same for crypto.
Of course, any person who has been investing in cryptocurrencies for some time will immediately name all the dangers associated with this investment and the unpredictability of the cryptocurrency market. Those who armchair it and don’t tell people that there are massive risks associated are probably ignorant of the shades of gray in this market or are more interested in cashing in now. As in any business case in the crypto world opportunities and risks are bound together, and for a real investor risk means the only measures they need to apply in order to become successful.
It takes time to develop a sober perspective toward an industry and to include loss factors into the equation; those with extensive experience in a field are more likely to do this, including uttering cautionary words to new entrants. What this is not meant to do is to intimidate you otherwise, the goal here is to share some potential obstacles as they might be encountered out there. Similar to how an analyst who has traded in and out of crypto will realize that sometimes you need to cut your losses and they want to make sure that one knows that too. It is worthy to have this risk in mind so that we do not find ourselves blindly hitting the ‘buy’ button out of high from temporary feelings of high or being tempted to believe in some get rich quick fairy tales.
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Most of our parents are committed to traditional investments such as bank deposits, and some of them can neither read nor write and some have never heard of cryptocurrencies before, so in this situation, if we see that they have intention to do any kind of profitable investment, how do we convince them to invest in Bitcoin?
I'm interested in knowing what you think of this discussion.
The only way we can convince them is to show them about your result that you have gotten from the crypto investment as these old people will not understand what you mean by crypto currency investment but money had a way of speaking better than you, so if you show them about money you have made from crypto they will be convinced
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Most of our parents are committed to traditional investments such as bank deposits, and some of them can neither read nor write and some have never heard of cryptocurrencies before, so in this situation, if we see that they have intention to do any kind of profitable investment, how do we convince them to invest in Bitcoin?
I'm interested in knowing what you think of this discussion.
The only way we can convince them is to show them about your result that you have gotten from the crypto investment as these old people will not understand what you mean by crypto currency investment but money had a way of speaking better than you, so if you show them about money you have made from crypto they will be convinced
Agreed, The best way to persuade them to believe in Crypto investment is to reveal the outcome received all over the world. That’s why by showing what this investment can bring in terms of tangible results it will be easier to explain what the value of crypto can bring for them. Its effectiveness and sustainability can be persuasively evidenced only by the accomplishment of goals and, therefore, nothing is stronger than proof of results in this context.
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Most of our parents are committed to traditional investments such as bank deposits, and some of them can neither read nor write and some have never heard of cryptocurrencies before, so in this situation, if we see that they have intention to do any kind of profitable investment, how do we convince them to invest in Bitcoin?
I'm interested in knowing what you think of this discussion.
The only way we can convince them is to show them about your result that you have gotten from the crypto investment as these old people will not understand what you mean by crypto currency investment but money had a way of speaking better than you, so if you show them about money you have made from crypto they will be convinced
Agreed, The best way to persuade them to believe in Crypto investment is to reveal the outcome received all over the world. That’s why by showing what this investment can bring in terms of tangible results it will be easier to explain what the value of crypto can bring for them. Its effectiveness and sustainability can be persuasively evidenced only by the accomplishment of goals and, therefore, nothing is stronger than proof of results in this context.
This becomes possible when we seek to persuade the people offering them the real results of the investment in the crypto that has been realized by other countries. The masses tend to fail to understand the value of investing in crypto when they first look at it yet, the same masses open their eyes wide when they see how their investments can earn them such great revenues as presented below. The reason to believe in that for a long term is the best evidence of real achievements which can satisfy the clients’ distrust and make them believe in your product.
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Most of our parents are committed to traditional investments such as bank deposits, and some of them can neither read nor write and some have never heard of cryptocurrencies before, so in this situation, if we see that they have intention to do any kind of profitable investment, how do we convince them to invest in Bitcoin?
I'm interested in knowing what you think of this discussion.
Due to my parents' complete lack of knowledge regarding phone operations and internet content, I will not attempt to convince them to invest in bitcoin. It will be very simple for them to lose the investment because they will undoubtedly forget their login credentials, making it hard to access their wallet.
It will not make sense to encourage them to invest in crypto given their lack of knowledge. They will take a very long time to understand, even if you try to teach them, and learning will be difficult because they will be distracted by other things. Thus, I will not even try to convince them to invest in Bitcoin.
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Due to my parents' complete lack of knowledge regarding phone operations and internet content, I will not attempt to convince them to invest in bitcoin. It will be very simple for them to lose the investment because they will undoubtedly forget their login credentials, making it hard to access their wallet.
It will not make sense to encourage them to invest in crypto given their lack of knowledge. They will take a very long time to understand, even if you try to teach them, and learning will be difficult because they will be distracted by other things. Thus, I will not even try to convince them to invest in Bitcoin.
African mothers, particularly those who are not IT-inclined and are unfamiliar with new technologies, are the wrong people to introduce something as volatile as Bitcoin to invest in. Whether the investment yields good profits or not, you will always be under pressure, and if you are unlucky enough and get liquidated, you will always have to repay their investment because they will never believe you. ;D
I will never persuade somebody who has no expertise or interest in new technologies/crypto to invest in bitcoin. Bitcoin is no longer news, and everybody who has expressed interest will always receive assistance; do not wander around. Financial advice is risky and never good advice; we should let people spend/invest their money however they want.
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Most of our parents are committed to traditional investments such as bank deposits, and some of them can neither read nor write and some have never heard of cryptocurrencies before, so in this situation, if we see that they have intention to do any kind of profitable investment, how do we convince them to invest in Bitcoin?
I'm interested in knowing what you think of this discussion.
Lolllll :D ....
First i'm actually seeing someone talking about this actually.you know,with the mentality of most elderly Nigerians is that money can't be made just by taps on your desktop or phone.Most elderlies i'm talking here .
Mainly because they grew up in an era where you have to toil so hard outside before you can get something (money) for yourself and i particularly don't blame them at all.
I think we should just let the elderlies be while making life easier and confortable for them through same crypto.
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Most of our parents are committed to traditional investments such as bank deposits, and some of them can neither read nor write and some have never heard of cryptocurrencies before, so in this situation, if we see that they have intention to do any kind of profitable investment, how do we convince them to invest in Bitcoin?
I'm interested in knowing what you think of this discussion.
The only way we can convince them is to show them about your result that you have gotten from the crypto investment as these old people will not understand what you mean by crypto currency investment but money had a way of speaking better than you, so if you show them about money you have made from crypto they will be convinced
Agreed, The best way to persuade them to believe in Crypto investment is to reveal the outcome received all over the world. That’s why by showing what this investment can bring in terms of tangible results it will be easier to explain what the value of crypto can bring for them. Its effectiveness and sustainability can be persuasively evidenced only by the accomplishment of goals and, therefore, nothing is stronger than proof of results in this context.
I feel that the best way to convince anyone to invest in bitcoin is to live by example. If you are already investing and they are seeing how good you are looking and when the bull run comes, you take profit and they are seeing how your financial life is improving. They will easily invest because there's proof.
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I feel that the best way to convince anyone to invest in bitcoin is to live by example. If you are already investing and they are seeing how good you are looking and when the bull run comes, you take profit and they are seeing how your financial life is improving. They will easily invest because there's proof.
This still will not interest them because of their limited knowledge about IT. Our parents only see the 6-5 as a job. Any other kind of job especially the online job or online platforms is not really appreciated by them.
Do not be surprised that they may even see what you are doing as illegal because they don't see you dress up to work everyday and yet you are making money. This is their mentality and that is as a result of the generation they lived in.
Part of the reason why it is difficult to convince them is because even when they try to read about bitcoin they hardly comprehend and even when they are shown the apps and taught how to navigate the trading app they still find it challenging. This is why it is difficult to convince them to invest in bitcoin.
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I feel that the best way to convince anyone to invest in bitcoin is to live by example. If you are already investing and they are seeing how good you are looking and when the bull run comes, you take profit and they are seeing how your financial life is improving. They will easily invest because there's proof.
This still will not interest them because of their limited knowledge about IT. Our parents only see the 6-5 as a job. Any other kind of job especially the online job or online platforms is not really appreciated by them.
Do not be surprised that they may even see what you are doing as illegal because they don't see you dress up to work everyday and yet you are making money. This is their mentality and that is as a result of the generation they lived in.
Part of the reason why it is difficult to convince them is because even when they try to read about bitcoin they hardly comprehend and even when they are shown the apps and taught how to navigate the trading app they still find it challenging. This is why it is difficult to convince them to invest in bitcoin.
I agree with you, such people with no zeal for technology shouldn't be introduced into bitcoin investment because it will be a waste of time for you. My mom wouldn't listen to you, and she will tell you that she's OK with her physical business going up and down before managing it. Bitcoin is a new technology for the new world order, and the youths are the ones that needs this investment.
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I agree with you, such people with no zeal for technology shouldn't be introduced into bitcoin investment because it will be a waste of time for you. My mom wouldn't listen to you, and she will tell you that she's OK with her physical business going up and down before managing it. Bitcoin is a new technology for the new world order, and the youths are the ones that needs this investment.
Truly, the youth are expected to invest heavily in bitcoin. The current increase in the value of bitcoin is sufficient to entice any knowledgeable person to invest in bitcoin. Whether we like it or not, this generation is digitally savvy, and wealth can be found in the air.
Apart from the bitcoin symbol, I do not believe anyone has a physical representation of what is known as bitcoin, despite the fact that we all believe it has monetary value. That is why any young person who is not concerned with profiting from cryptocurrency will undoubtedly have regrets.
Today, parents give their children access to their cryptocurrency wallet as an inheritance because cryptocurrency has proven to be a very good investment.
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Most of our parents are committed to traditional investments such as bank deposits, and some them can neither read nor write and some have never heard of cryptocurrencies before, so in this situation, if we see that they have intention to do any kind of profitable investment, how do we convince them to invest in Bitcoin?
I'm interested in knowing what you think of this discussion.
They being committed to traditional method of banking system, this is because this is or has been the only thing made available to them and is still in use and acceptable. Parents that has no or very little use of the internet will find it difficult today they want to invest their money on stuffs they are not familiar with. They find it difficult to take risk outside that which they know and have a feeling of trust.
Bitcoin investment is actually for everyone, but not everyone can invest in Bitcoin. As it is a means of financial freedom, but the knowledge behind it is very important.
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They being committed to traditional method of banking system, this is because this is or has been the only thing made available to them and is still in use and acceptable. Parents that has no or very little use of the internet will find it difficult today they want to invest their money on stuffs they are not familiar with. They find it difficult to take risk outside that which they know and have a feeling of trust.
Bitcoin investment is actually for everyone, but not everyone can invest in Bitcoin. As it is a means of financial freedom, but the knowledge behind it is very important.
You do have a point the crypto era is actually a digital era which is relatively very new compared to the era of regular banking and other methods of saving money. As a result of this you actually can't blame them that's because during their most active periods of youth crypto wasn't really much of a thing.
Their biggest challenge will be trying to fit it and as a result they have a very high chance of getting more vulnerable which puts any of their hodlings at a potential risk.
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Most of our parents are committed to traditional investments such as bank deposits, and some of them can neither read nor write and some have never heard of cryptocurrencies before, so in this situation, if we see that they have intention to do any kind of profitable investment, how do we convince them to invest in Bitcoin?
I'm interested in knowing what you think of this discussion.
First and foremost our parent are already used to traditional banking so trying to change their mind or convincing them to invest in Bitcoin may be like trying to break a brick wall with your bare hand, However there is a possibility of their acceptance if one could tell them of the long time benefit which is that they can get more interest when they buy a Bitcoin and keeps it overtime, also one can assure them that it is a safe, and tell them the numerous top rich men in the world who are holders of BTC, with this and the trust they have for you that is if of course they have, they can easily consider.
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Most of our parents are committed to traditional investments such as bank deposits, and some of them can neither read nor write and some have never heard of cryptocurrencies before, so in this situation, if we see that they have intention to do any kind of profitable investment, how do we convince them to invest in Bitcoin?
I'm interested in knowing what you think of this discussion.
Most Nigerian parent are very scared of anything that has to do with online, they prefer investing in commercial bank or things that they can easily see. So to convince they you have to convince them with results, what I mean here is simply showing them the results you or anyone you know around you, have gotten from investing in Bitcoin. You can also tell them the results that popular great investors who you may not even have personal attachments to. Also you can tell them what they stand to gain financially when they make this investments.
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As a successful Nigerian local board member I think I have some level of experience to make some statements as regards Nigerian parents and Bitcoin or crypto investments, I think we should allow our parents the freedom to just enjoy their old age instead of putting them through the rough edges that come with Bitcoin or crypto investments and the volatile that comes along with it.
If you have a parent that has so much funds and cash flow that you think can risk it on an asset like Bitcoin, and they trust you with such funds, I think what you should do is control their Bitcoin investment instead of letting them involved with the whole Bitcoin and crypto Wahala.
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If you have a parent that has so much funds and cash flow that you think can risk it on an asset like Bitcoin, and they trust you with such funds, I think what you should do is control their Bitcoin investment instead of letting them involved with the whole Bitcoin and crypto Wahala.
God bless you for this part of your post - a lot of us really don’t realise that we need to consider the amount of money or how rich our parents has to be before we even start making a move on them getting involved in bitcoin - if they are not that funded then it’s best they continue with their normal life, don’t try to convince them into something that will make their mind not to be at ease anymore - they are no longer young and you making them panic by the constant price reduction or movement of bitcoin will only shorten their life expectancy.
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It will be very hard to convince them especially when you tell them the risk involved, the intricacies and everything about cryptocurrency. We all know that in crypto you need to be knowledgeable about various things and it might seem abstract to our parents they are not used to such complexity associated with crypto, due to such complexity they might no feel inclined or interested in investing in crypto especially when it comes to withdrawing their funds.
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It will be very hard to convince them especially when you tell them the risk involved, the intricacies and everything about cryptocurrency. We all know that in crypto you need to be knowledgeable about various things and it might seem abstract to our parents they are not used to such complexity associated with crypto, due to such complexity they might no feel inclined or interested in investing in crypto especially when it comes to withdrawing their funds.
Honestly speaking, you made a great point, it will be very difficult to convince them because they are familiar with the use of traditional of currency method, so they may struggle to understand and trust cryptocurrency, must especially that it has to do with technology which they no nothing much about, so they may not be easily convinced.
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Just like we can convince other people to adopt Bitcoin investment, that's also how we can convince our parents, depending if your parents loves to talk about their finances with you or not. Some parents doesn't share their investment plans with their kids, but for kids that their parents freely talks about investment and the latest trend of income source and passive income, you can use such medium to talk to your parents about Bitcoin investment. Another thing is that, some parents prefers to also save for a short term period so that they can use the money for any particular that they must have already plan to embark on. So, it's usually based on those two scenarios, when you discuss almost everything with your parents and depending on how long they want to keep their money, it will be easy to tell them about Bitcoin.
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Most of our parents are committed to traditional investments such as bank deposits, and some of them can neither read nor write and some have never heard of cryptocurrencies before, so in this situation, if we see that they have intention to do any kind of profitable investment, how do we convince them to invest in Bitcoin?
I'm interested in knowing what you think of this discussion.
It can be easy to convince other people or our parents to invest in Bitcoin but we can not force them to invest on Bitcoin because they must accept the facts that Bitcoin (crypto currency) is volatile and the price fluctuate in every seconds. So they must risk what they can afford to lose.