Have you ever tried learning a new language? Well, learning about cryptocurrency is no different. You know how cryptocurrency isn’t always easy to explain it to everyone. The truth is it isn’t that hard to explain to your friends and family. They often get lost and don’t understand it the first time.
However, they will come around and grasp the concept. Just give them some time okay? But, the question remains. How would you explain cryptocurrency to a 5-year-old?
Intelligent or Dumb or Just Plain Stupid?
If you explain cryptocurrencies to your family the way you try to explain cryptocurrencies to a 5 year old. It might get a bit trick. While your friends and family would know the basics of economic principle and generally more about the economy. But, with 5 year old’s you might have to start from scratch.
A little about what the economy is, how it functions and what is it’s purpose would be a good place to start from. But, interestingly you’ll find it more easier to explain it to a 5 year old than your friends and family. If you’re wondering why then keep reading!
Deliver Your Package or Bitcoin in Time
Take this, you order a package which will get delivered in a week or so unless you want to pay extra for overnight shipping. This works both ways if you are sending your packages (or your payments) internationally. However, due to last minute purchasing your packages are not delivered on time.
Unfortunately, this is how Bitcoin also works. But don’t worry Dash is a crypto which has solution for this. It is used as an alternative cryptocurrency which will help in investing to increase the number of packages. Sometimes cryptocurrencies have a difficult time delivering as the capacity for delivering cheap and fast transactions is not available. It’s like not getting your favorite toy on a Christmas morning. This is what a 5-year-old might understand!
Understand Your Tech
Most people are always above the surface, they don’t want to understand what goes under the accounting and cryptography. They usually don’t pay enough attention to Blockchain or POW algorithms. A good marketer must be able to explain this subject and how cryptocurrencies make lives of the people better. Blockchain technology has the potential to increase its transparency in the supply chain and this makes it easier to sell cryptocurrencies to people.
Diversify Your Investment
Now entering the crypto-world will make you look at different kind of money and investments. Looking to improve your investment portfolio by gold and silver are not the only ways. Now Bitcoin, Litecoin, Dash, Monero, and Ethereum provide you with many more ways to diversify your investments.
These also benefit you as you can now easily spend on essentials like Amazon Gift cards. Most people need to gain knowledge about how cryptocurrencies can benefit them in various ways and they’ll know why they need crypto in their lives!
Make Good Choices
Do you struggle to stay in a set budget? Well, cryptocurrency will help you realize the importance of not overspending because once you spend your Bitcoin on whatever you like. But if it’s gone, it’s gone! So it’s important to make beneficial decisions for yourself. Most of the times you’re often stuck in between buying two things. Now one thing always becomes the opportunity cost.
Do you want the new Apple watch or do you want to spend your money on a cute pink dress? Bitcoin makes it a lot harder to overspend than it is with credit cards, this is why it helps you to rethink your impulse purchases and helps you save up a lot of your money. That’s how you’ll stay in a budget my friend!