Younger Generation and Revolut

[aoluain]

Today my daughter put her first bonus pay into Bitcoin.

She is well aware that I have Bitcoin for a few years and today out of the blue
decided to make the move

via Revolut!

I explained to her the drawbacks of using Revolut, She cannot move it, she
doesnt have any control over what she has and her options are hold or sell.
She is happy to proceed as a first experience with Bitcoin and told me that many
of her friends have Bitcoin. I was curious about that and wondered just how many
Revolut customers actually have Bitcoin?

For all its drawbacks Revolut offer a very easy route into Bitcoin in a lightweight way.
It also proves that the younger generation want a hassle free entry into Bitcoin and
dont initially want the seemingly inconvenience of securing their Bitcoin.

Fintech Challengers Revolut and Luno are Experiencing Dramatic Surge in Demand from Bitcoin and Ethereum Traders

[Yogee]

....For all its drawbacks Revolut offer a very easy route into Bitcoin in a lightweight way.
It also proves that the younger generation want a hassle free entry into Bitcoin and
dont initially want the seemingly inconvenience of securing their Bitcoin.

It's not a secret that most people nowadays generally wants the more convenient ways. There were also articles before that says one of the struggles of bitcoin mass adoption is the difficulty of access or the complicated settings.

The surge in users of custodial services buying bitcoin kinda proves also that mainstream adoption means dumbing down knowledge on bitcoin. Sad.

[coolcoinz]

That's a pretty normal thing if your daughter isn't tech savvy or doesn't come here or read r/bitcoin. In general there's 2 groups of users and this is the same in every single thing. One is people who just want to use something. They come home with a new purchase, unwrap it and plug it in. The second group reads all the instructions, posts pictures of their new purchase online, want to research some hacks and hidden features, find out ways to make that thing even better. That's why you have people who know everything about their car and people who after a few months of driving still don't remember on which side the fuel filler is.

[jjdub7]

I personally have a lot of well-known friends who buy crypto coins, not just Bitcoin via Revolut.
But they are all people who are not so interested in what is happening in the crypto market and crypto world. Just Revolute is a convenient way to buy coins through your mobile phone in seconds and that makes them happy.
In general, they do not intend to trade, or speculate on coins, just to own part of the large share.

[verita1]

Young people take advantage of downloading the apps that their friends use such as Revolut app. But as we know to buy cryptocurrencies, sell and hold this app is not the best option. Binance and other exchange platforms are joining forces to offer simple apps for users. We just have to invest a little of our time with teenagers to teach them how to invest their first cryptocurrencies.

[Gozie51]

 I congratulate you first for having a daughter who is old enough to invest in bitcoin. And I like to advise that you have a responsibility to her on guiding her to have better knowledge on wallets or means to hold. A better option is to be shown to her.

[livingfree]

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.

[Yamifoud]

Bitcoin is known to young ages as they are very active on social media and the internet. Good thing that they only heard about the positive side, not the FUDs having them and your daughter's interest in Bitcoin.
People are expecting so great about Bitcoin, once they heard about this thing...ohh it is a big money, you've got be a millionaire someday. But they still never know the risk and they might lose.

[TimeTeller]

Young people take advantage of downloading the apps that their friends use such as Revolut app. But as we know to buy cryptocurrencies, sell and hold this app is not the best option. Binance and other exchange platforms are joining forces to offer simple apps for users. We just have to invest a little of our time with teenagers to teach them how to invest their first cryptocurrencies.

I think that's where he needs to come in, to explain the pros and cons of using the app vs top exchanges.
He can easily show the difference by making it an example, especially if he is a user of Binance or any top exchange.
Sooner or later, the daughter will learn more tips along the way, and she will find other good alternatives to deal with bitcoin.
And more than likely, she will not only venture in bitcoin but other alts as well.
In this generation, they can easily be swayed by social media, so he still needs to guide his daughter on what is the right thing to do.

[aoluain]

I dud I explained the differences between custodial services and wallets and taking ownership
of Bitcoin but you know not everyone wants to get so involved some people like the convenience
that the likes of Revolut provide.

Maybe in time these younger generations will want more than just an app on their phones.

[Darker45]

For all its drawbacks Revolut offer a very easy route into Bitcoin in a lightweight way.
It also proves that the younger generation want a hassle free entry into Bitcoin and
dont initially want the seemingly inconvenience of securing their Bitcoin.

More often than not, the easiest way is not the best way.

I hope you will somehow enlighten your daughter about the unnecessary risks involved with keeping Bitcoin in a wallet beyond her personal control. I mean, it is a must with Bitcoin. Other than avoiding the possibility of losing her funds, Bitcoin is essentially about freedom and complete ownership. The philosophy of Bitcoin is as important as the technology itself. It's like the soul and body of Bitcoin, respectively.

[Silberman]

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.

[yazher]

Young people take advantage of downloading the apps that their friends use such as Revolut app. But as we know to buy cryptocurrencies, sell and hold this app is not the best option. Binance and other exchange platforms are joining forces to offer simple apps for users. We just have to invest a little of our time with teenagers to teach them how to invest their first cryptocurrencies.

I agree as most of these things cannot be trust especially they don't have any proof to consider that they can really be trusted to hold BTC for long. Exchanges are not recommended as well but they can use as alternatives if you don't have yet any hard wallet for now. Most of these people who hold more BTC than the others are investing in buying some best hard wallets to secure their BTC to the max especially those long-time holders. Because it's just some obvious matter because we have witnessed how other exchanges got compromised in the past.

[DapanasFruit]

I dud I explained the differences between custodial services and wallets and taking ownership of Bitcoin but you know not everyone wants to get so involved some people like the convenience that the likes of Revolut provide. Maybe in time these younger generations will want more than just an app on their phones.

Well, the market is getting bigger for cryptocurrency and certainly in this expanding market we can see many types and variants. I may even say that I belong to the group of people who just to own something and never care so much on technicalities, always preferring convenience as my top priority over anything else and of course along the way we want to experience safety and security of our digital assets. There are many choices in the market right now and there can be more in the coming days. What can be most important is that more and more people are getting hold of cryptocurrency, be it Bitcoin or otherwise -- as long as not shitcoins.

[cabron]

Bitcoin is not just adopting gradually with revolut but also to another remittance app. It must be because of the remittance app these days that people are now looking for alternative and cheaper ways to send money abroad. Its just making people's lives easier than bank transfers that ask for high fees. Each country has its own app to use for their remittance that accepts BTC and other coins, I'm sure anyone who looks for this alternative will learn from their fellow expats.

[zanezane]

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. It is a good thing that younger generations are getting into the bitcoin business because I believe that these people should know the value of money and earn money at a younger age, waiting to go to college and getting a degree at this era is not a plausible option because the prices of commodities are piling up and any assistance can be of big help.

[Mpamaegbu]

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.

[zanezane]

~

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.

I can agree with you in a certain way but being a doting parent won't help if you are trying to teach your children these things, especially the boring details. You had been a young one once, so you know how stubborn they are if they want to get in their way. Take it slow and just teach them the ropes in a way that isn't overwhelming her ideas.

[aoluain]

~

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.

I can agree with you in a certain way but being a doting parent won't help if you are trying to teach your children these things, especially the boring details. You had been a young one once, so you know how stubborn they are if they want to get in their way. Take it slow and just teach them the ropes in a way that isn't overwhelming her ideas.

this is my approach, i have already planted a number of seeds about Bitcoin education,
Bitcoin ownership and being security conscious. Over time those seeds will germinate
and she will look for more from Bitcoin.

The primary thing is that she has become involved in a very light way for the moment,
as we progress through this bull market hopefully her taste for Bitcoin will develop

[Natsuu]

Today my daughter put her first bonus pay into Bitcoin.

She is well aware that I have Bitcoin for a few years and today out of the blue
decided to make the move

via Revolut!

I explained to her the drawbacks of using Revolut, She cannot move it, she
doesnt have any control over what she has and her options are hold or sell.
She is happy to proceed as a first experience with Bitcoin and told me that many
of her friends have Bitcoin. I was curious about that and wondered just how many
Revolut customers actually have Bitcoin?

For all its drawbacks Revolut offer a very easy route into Bitcoin in a lightweight way.
It also proves that the younger generation want a hassle free entry into Bitcoin and
dont initially want the seemingly inconvenience of securing their Bitcoin.

Fintech Challengers Revolut and Luno are Experiencing Dramatic Surge in Demand from Bitcoin and Ethereum Traders

Isn't this an example of riding the trend. Younger generations tend to ride whats "IN" and what is trending. Since they sees BTC traders, especially that Musk takes a huge uproar into the scene, they want a piece of that so they ride the trend. This is natural response of a human especially those who are anxious of everything, and since you mentioned that almost all of her friends has bitcoins, it maybe is also a factor why she get some, for her to not feel left out.

Anyways, not to be negative, it is good for her, and be sure to guide her.