MultiversX Tracker is Live!

How to introduce people to cryptocurrency?

All Cryptocurrencies

by COINS NEWS 195 Views

Many of us hesitate to give out crypto related investment advice to our family and friends, and rightly so. Investing on crypto can be extremely tricky for someone without much investment experience, and even the experienced ones may get caught in the FOMO feeling or struggle due to the volatility of the market. Additionally, many people have reservations about crypto, and are simply not interested in learning about it.

However, I feel that it would be a shame to not share any knowledge about the crypto with some of my friends, at least with the ones that express interest in learning about it. My idea is to introduce them to the world of crypto by encouraging them to use some of the practical applications, or point them towards useful resources, without giving them an opportunity to blame me for potential losses.

I usually tend to recommend the following :-

Brave browser - I've recommended the Brave browser to most of my friends. Worst case scenario, they switch back to their old browser, but I haven't heard too many complaints about the browser. Folks especially seem to appreciate how fast the browser is, and not having to watch ads on Youtube. Moreover, it feels great to collect some crypto each month, even if the amount is small. Some people also pay attention to the ads. I've had a couple of friends who had little knowledge of crypto ask me questions about blockchain games, staking on exhanges etc., after viewing ads.

Blockchain/Crypto games - I do feel that there's a need for better blockchain games, while ones like Axie are fairly expensive to get into. But I think games like Coin Hunt World or even Crypto Royale can be a good way for someone to start earning small amounts, which could lead to greater interest in the crpto space.

Resources - Instead of advising someone about which project (s) to invest on, I prefer to tell them about some useful resources (the classic DYOR). Imo, Coin Bureau's Youtube channel, Podcast like - Pomp, Unchained etc., are excellent resources for beginners.

Reddit - I've encouraged some of my friends to start reading posts on r/CryptoCurrency, and actively participate if possible. While there's quite a bit of clutter, one can find some useful posts from time to time. I'm not sure if any of my friends are posting actively on this sub (I don't like to disclose this username, since I prefer to keep my "crypto life" private), some of them have told me that they occasionally browse through the hot posts. Similar to Brave and crypto games, receiving some free crypto could encourage someone to take more interest in the space.

International money transfer - This is another useful practical application of crypto which can greatly benefit people. International money transfer using the existing services can be complicated and expensive. The better ones like Wise and Revolut are not available in many countries. It can be a bit daunting for beginners to understand how crypto transfers works, but a few tips combined with links to videos and articles can help someone figure out the basics within a few hours. Certainly worth recommending imo.

Is there any other relatively risk free way of introducing someone to crypto? What are the other resources beginners can make use of without feeling overwhelmed?

Edit: "Don't introduce people to crypto" seems to be a fairly popular opinion. My idea is to find effective ways to introduce people to crypto, not give them investment advice. It's funny how most of us want mass adoption, but won't even talk to their friends about crypto.

submitted by /u/Necromancer1899
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
πŸ’° Install these recommended apps:
πŸ’² SocialGood - 100% Crypto Back on Everyday Shopping
πŸ’² xPortal - The DeFi For The Next Billion
πŸ’² CryptoTab Browser - Lightweight, fast, and ready to mine!
πŸ’° Register on these recommended exchanges:
🟑 Binance🟑 Bitfinex🟑 Bitmart🟑 Bittrex🟑 Bitget
🟑 CoinEx🟑 Crypto.com🟑 Gate.io🟑 Huobi🟑 Kucoin.



Comments