Older people are the most vulnerable to crypto scams

[Fiasem20]

The fact is that it is not only old people who easily get scammed, even young ones also get scammed easily and the reason behind this is a lack of proper knowledge or the latest information available in the crypto industry at that period of time. Many people do not want to continue learning or stay updated with the latest information about new strategies that scammers use,and they refuse to learn about the latest tactics of scammers. As a result that,they can easily get scammed. That is why, if anyone wants to provide proper security to their funds and want to tottaly aviod not to get scam, they must always stay updated about what is going on in the crypto, especially about the latest security measures. This is the reason why old people easily get scammed and the same is applicable to young ones who do not take time to keep learning.

What would this space become if updates on the tactics and tricks of scammers aren’t revealed?the fact that their tactics are revealed should even serve as some sort of seriousness to remain updated.Being updated is literally the key to stay less vulnerable from hackers/scammers.No doubt that young people aren’t attacked by online scams but the older generation are more targeted by scammers literally because they’re weak and quick to believe strangers.Youngers one could be victims to scam due to ignorance or the quest to become rich overnight.To grow on the space,one need to avoid projects that promises unrealistic returns,in fact don’t believe on projects that seem too good to be true.

[Kasabus]

Well, there are some older people who are wiser and more experienced regarding scams so they can't be easily deceived by some scammers around. But there are also some older people who are less knowledgeable about technology because their minds are already closed learning about it, so they can be more vulnerable to scams, but there are also instances that they are more hesitant to trust with, hard to deal with, because they don't know what's exactly the right over wrong information. The reason why some of the scammers need more patience so they can win these old people.

[Hardyrobust]

Well, there are some older people who are wiser and more experienced regarding scams so they can't be easily deceived by some scammers around. But there are also some older people who are less knowledgeable about technology because their minds are already closed learning about it, so they can be more vulnerable to scams, but there are also instances that they are more hesitant to trust with, hard to deal with, because they don't know what's exactly the right over wrong information. The reason why some of the scammers need more patience so they can win these old people.

yes this is true. It is not all old people that can easily be scam. There are old people that are always updated with the latest security tips. Though there are some too that may likely fall victim of this scam as result of there age . Some of this old people are very careful when it comes to anything online because they are already aware of cyber crime. Bo

[G_Besar]

yes this is true. It is not all old people that can easily be scam. There are old people that are always updated with the latest security tips. Though there are some too that may likely fall victim of this scam as result of there age . Some of this old people are very careful when it comes to anything online because they are already aware of cyber crime. Bo

Older people are usually less interested in online or internet-related activities. This is because, in addition to no longer needing large sums of money, their limited knowledge of such things also makes them less inclined to follow other people's advice related to the internet. Therefore, their potential for being directly deceived by internet crime is also very minimal, although on average, those who are more likely to fall victim are those who easily trust the advice of others who are essentially unaware of the matter themselves.

[rat03gopoh]

Older people are usually less interested in online or internet-related activities. This is because, in addition to no longer needing large sums of money, their limited knowledge of such things also makes them less inclined to follow other people's advice related to the internet. Therefore, their potential for being directly deceived by internet crime is also very minimal, although on average, those who are more likely to fall victim are those who easily trust the advice of others who are essentially unaware of the matter themselves.

So instead of dwelling on potential risks, it's better to consider how much exposure older people have to the crypto industry.
In my neighborhood, older people don't even own smartphones anymore. Their generation was generally less tech-savvy, so they're unwilling to risk their money on crypto, let alone get scammed.

[katanic97]

Older people are usually less interested in online or internet-related activities. This is because, in addition to no longer needing large sums of money, their limited knowledge of such things also makes them less inclined to follow other people's advice related to the internet. Therefore, their potential for being directly deceived by internet crime is also very minimal, although on average, those who are more likely to fall victim are those who easily trust the advice of others who are essentially unaware of the matter themselves.

So instead of dwelling on potential risks, it's better to consider how much exposure older people have to the crypto industry.
In my neighborhood, older people don't even own smartphones anymore. Their generation was generally less tech-savvy, so they're unwilling to risk their money on crypto, let alone get scammed.

I agree, they may be less familiar with technology, but there are people who want to keep up with technology and get involved in such things. Rarely with cryptocurrencies, but they do exist, and unfortunately, these are the best targets for scams. In general, older peoples are being pushed to do everything through their phones , pay bills, shop, etc. That’s where a serious risk of scams arises, because it’s enough to click on the wrong link and fall victim to a fraud.

[Ronsbit]

Older people are usually less interested in online or internet-related activities. This is because, in addition to no longer needing large sums of money, their limited knowledge of such things also makes them less inclined to follow other people's advice related to the internet. Therefore, their potential for being directly deceived by internet crime is also very minimal, although on average, those who are more likely to fall victim are those who easily trust the advice of others who are essentially unaware of the matter themselves.

So instead of dwelling on potential risks, it's better to consider how much exposure older people have to the crypto industry.
In my neighborhood, older people don't even own smartphones anymore. Their generation was generally less tech-savvy, so they're unwilling to risk their money on crypto, let alone get scammed.

I agree, they may be less familiar with technology, but there are people who want to keep up with technology and get involved in such things. Rarely with cryptocurrencies, but they do exist, and unfortunately, these are the best targets for scams. In general, older peoples are being pushed to do everything through their phones , pay bills, shop, etc. That’s where a serious risk of scams arises, because it’s enough to click on the wrong link and fall victim to a fraud.

This is a good point you have made here older people have no much knowledge about technology that much and this is the more reason why some of them want to put up with it so they too can be in the know how it works but the truth remains the fact that they are being taken advantage of because they are not as inclined with it and it makes the vulnerable to scams because they are curious to know and when they receive links they click without minding the out come of it.

Another issue is that they can easily be influenced to do something that ordinarily they would never do just because they trust the idea given to them to be true, they just get easily influenced by whomever that is close to them to do whatever they wouldn't have done in their own if they are knowledgeable about the situation.

[knowngunman]

I'm not surprised! This older generation can pick a call from unknown number (pretending to be a bank agent) and follow every instructions bit by bit until they get scammed. If they come into crypto with the same mindset, they'll definitely end up getting scammed. Although, this older generation get scammed for trying to be vigilant and remain safe but unknowingly get scammed, the younger generation however get scammed for being greedy and try to make easy money. Unless they discover it and pick interest in crypto by themselves, I don't find it reasonable to introduce older people into crypto based on it volatility.

[Porfirii]

I am curious how many old people are among us. Well, first we should set an age from which a person is considered old, which in itself is a challenge.

What is discussed in this thread is more influenced by stereotypes about ageism than by any real empirical data. I know what most of you mean, but more than the typical characteristics of each age, what is really important is the uneven distribution between ages. The US, without going any further, can be quite representative of that age distribution, so let's take these data as example:


Source: https://coinlaw.io/crypto-user-demographics-statistics/

Therefore, the most vulnerable people to crypto scams statistically are none other than millennials, for the simple fact that they are the ones who are most exposed to crypto. I can't find the data of scammed people in crypto, but I'd say that they wouldn't be very different from the image above.

[Cookdata]

Well, there are some older people who are wiser and more experienced regarding scams so they can't be easily deceived by some scammers around. But there are also some older people who are less knowledgeable about technology because their minds are already closed learning about it, so they can be more vulnerable to scams, but there are also instances that they are more hesitant to trust with, hard to deal with, because they don't know what's exactly the right over wrong information. The reason why some of the scammers need more patience so they can win these old people.

Scams are not generic to age, an old person can fall victim and can be well aware about plenty of scams and this is similar to young people. Sometimes you can be well aware about scams and one small mistake will cost your life savings. This is why it's very important to have your funds away from the internet. Things like hardware wallet or an air gap device safe you from this kind of problems, what is never on the internet can't be affected by the internet.

However, one can be safe online but can have threat offline. There was a ledger scam some years back, some scammers had access to some customers email address and they impersonated to be ledger company, they sent mail with QR code for people saying there is an update about wallet, all this were attempt to get seed phrase frome people but smart ones knows that those were scams for real.

[Japinat]

Older people are usually less interested in online or internet-related activities. This is because, in addition to no longer needing large sums of money, their limited knowledge of such things also makes them less inclined to follow other people's advice related to the internet. Therefore, their potential for being directly deceived by internet crime is also very minimal, although on average, those who are more likely to fall victim are those who easily trust the advice of others who are essentially unaware of the matter themselves.

So instead of dwelling on potential risks, it's better to consider how much exposure older people have to the crypto industry.
In my neighborhood, older people don't even own smartphones anymore. Their generation was generally less tech-savvy, so they're unwilling to risk their money on crypto, let alone get scammed.

Exactly. Older people do not have time to study technology anymore, it will only create confusion on their minds especially that they are more exposed on the old and traditional means, but that does not mean that they can be easily get scammed.

Their non-interest to crypto makes them not vulnerable to crypto scams because in the first these scammers will never have an access to them. Although some older people are into crypto, but majority do not show deep interest into new technology and innovations.

[lornadane]

I get your point, and you’re not wrong. Older people are more vulnerable mainly because scammers target trust and unfamiliar tech. But I don’t think age alone is the problem, it’s exposure without education. If someone older is introduced slowly, focusing on basics and security (no DMs, no links, no “guaranteed profit”), they can still navigate crypto safely. The danger is throwing them into it without guidance.

[Maslate]

I'm not surprised! This older generation can pick a call from unknown number (pretending to be a bank agent) and follow every instructions bit by bit until they get scammed. If they come into crypto with the same mindset, they'll definitely end up getting scammed. Although, this older generation get scammed for trying to be vigilant and remain safe but unknowingly get scammed, the younger generation however get scammed for being greedy and try to make easy money. Unless they discover it and pick interest in crypto by themselves, I don't find it reasonable to introduce older people into crypto based on it volatility.

Both younger and older people should not be introduced to crypto investment if they aren't aware what they are capable of losing. And if they don't have the due diligence to learn in a deeper way. Because those who get scammed are undeniably have no sufficient knowledge or awareness on what they are entering, that is why its easy for them to get tricked and get fooled by those veteran scammers.

While scamming cases are already high in crypto, but one does not learn his lesson if he won't experienced getting scammed itself, although there a lot of means to avoid getting scam, some just chose the hard way and learn eventually.

[Shishir99]

This is one solid reason why I don't want to introduce crypto to my father or any older person in my family, I believe they are already used to the old way of living on salary or jobs, it must have mastered them a lot that crypto related investment or online investment will put them under stresss.

It's not just the crypto scams. Older people are particularly vulnerable to scams worldwide. Haven't you seen any videos on social media about how Indian tech support scammers steal money from older people who mostly live in the USA and other developed countries? The tech support scammers mainly target older people and manipulate them. Tech support scammers usually pretend to be from Amazon or Microsoft, and they claim to be offering refunds to customers. LOL.

Unfortunately, some people fall for these scams, and most of them are older individuals. So, I don't see any reason why we should teach the elderly about crypto investments. There is a possibility that they may risk their pension in cryptocurrency.

[Miles2006]

There’s a saying “knowledge is power” I see a lot of comments like anyone can also be a victim not just older people. I must agree young people still fall for such scam although not always, the slight difference is taking correction and learning how to identify such scam scheme, once a person is conversant with such scam practice it’s very difficult to fall again reason why knowledge is power. The story about the man shows how he already got scammed not just once meaning it’s difficult for old people to learn and identify scam scheme although it depends on the person and age, I agree with the fact older people are vulnerable to crypto scam.

[Nwada001]

I get your point, and you’re not wrong. Older people are more vulnerable mainly because scammers target trust and unfamiliar tech. But I don’t think age alone is the problem, it’s exposure without education. If someone older is introduced slowly, focusing on basics and security (no DMs, no links, no “guaranteed profit”), they can still navigate crypto safely. The danger is throwing them into it without guidance.

I will rather position this on those who lack crypto knowledge and are unfamiliar with tech being the ones mostly affected and easily scammed by this scammer. Some older people are even more tech-wise than the younger generation.

We only have to be hearing about the few retired older folks who get scammed because they are desperately looking for entertainment and all sorts of connections online, which possibly lead them into the hands of scammers.

[Samlucky O]

Surely you can't justify every old person to be thesame, there are some old people who are Also advanced technically in tech and security, so you can't compare this set of people with those that are not tech savvy.. you can still go ahead and educate some old Men who are ready to learn. I guess they should be thought more on security after investment. Because if you educate them on only how to invest without also educating them on how to secure their assets, then it is meaningless because lack of security education is better of not investing at all.

[Vaculin]

Yes, I have to admit that especially if they find theirselves also greedy like those younger individuals who get easily scammed in the process.

However, some older people have also gained better experience when it comes to scamming incidents when they are still younger, thus making them hard to be scammed then  not because they know exactly what crypto is, but they have been exposed already to different form of scams in the market.

[Kelvinid]

Everyone is vulnerable to crypto scams, especially if you enter the market without knowing.

But I have to agree also that older people are more vulnerable to scams because most of them are not crypto educated and have no exposure into crypto. They prefer to study on traditional investments rather than taking their time studying crypto uncertainty.

However, there are also few older people who are good with crypto, probably they have an eye to crypto that is worth not resisting it because big opportunities are all over to crypto, not on the traditional investments.

[r_victory]

Unfortunately, older people are more vulnerable to financial scams, especially those who are not very familiar with technology. They are the most targeted by criminals; it is not uncommon to read testimonies of people who have lost all their savings because they fell victim to some type of scam, and cryptocurrencies increase this risk for them, since a good portion do not even fully understand how they work.