Altcoin is good. It’s hard to persuade parents to invest in it.

[hd49728]

Every market has bull and bear times so the cryptocurrency market won't rise forever.

Your decisions will end with profit or loss and you can not exclude any of such results. If you buy crypto at tops of the hype, and sell it in bear market, loss will knock your doors.

If you hold them, good cryptocurrencies not shit coins, for years, and stay strong and patiently for the next bull market, you can exit with a draw or big profit. Like ETH need four years to touch its 2018 All time high and gets its new all time high.

Shit coins can end with gradual falls and price will touch 0, volume will touch 0 after months or years. Your patience won't end the same with good coins and with shit coins.

[LittlePrinceCat]

Investors never invest on anything which they don't have knowledge about which also applies to Warren Buffet that is why he never invested in Tesla and Bitcoin which is too far away from his core knowledge so if you want to convince them then you need to teach them about bitcoin and blockchain technology then they may understand its potential and invest in cryptos too.

My dad doesn’t have knowledge in stock but he has invested in stock for more than 30years. My mum lacks the knowledge in real estate but she always invests in real estate. In my homeland, people is not rational to invest. Nearly all the adults invest in stock and most of them try to invest real estate which is just following the suit.

[LittlePrinceCat]

It’s hard to persuade those middle-aged people to invest in crypto. Do you think so?

I think so. I have ever met some people in the past that they didn't believe in crypto. They were saying if crypto is a high risk investment with no fundamentals and the most difficult to change people's minds about that.
You need to hardwork to make your parent will try to invest in crypto like BNB. I know that if your dad was only taking a low risk investment as his main choice.
So many people have been facing the same problem as you dude. You must prove it if you can be the next rich person from crypto.

It seems that stock is with lower risk than crypto. But people always lose money in stock market in my homeland. More than 70% of them lose the half of the principal. There are so many cheaters stock in my homeland. People like to invest in those low price stock because they want to earn more money but those stocks are likely to be cheaters stock. The possibility of earning money in crypto is much higher than that in stock market. At least all people around me could earn money in crypto. So, I think my dad should quit the stock market and enter the crypto market asap. It’s the good time to invest in Eth and BNB.

[LittlePrinceCat]

Firstly they're old fashioned so why stress yourself trying to convince them to go into something they don't understand in the first place. We use an approach that's very wrong, you can't just go straight into wanting them to go invest in your magic money because that's what most parents see crypto for. They believe it's ponzi oriented that'll it'll all crash when there's no new individual to buy your coins.

They fail to understand that this is a revolution that's just beginning. First make them understand what cryptocurency in general is all about before wanting them to invest. Make them use bitcoin fir transactions and allow them hunger ti what to know more.

I have used the approach severally, you teach about the utility before adding the monetary benefits and they allow the individual to make their decoy. There's a greater chance they'll pick interest the moment they understand how the technology works

He’s now unemployed during this economic recession period. It’s impossible for him to find his professional job during this recession. Then, he tries to earn money from the stock but he seldom wins.

[Nivia1st]

my parents are not interested in crypto either. Even though sometimes I give them an understanding of bitcoin, crypto, and blockchain, they still refuse if I invite them to invest. they believe more in investments that have a lower risk such as GOLD. they say the crypto market, like stocks or forex, is too risky for parents who don't want to focus too much on monitoring market movements. different from the price of gold which is quite stable so they can be easier to monitor.

[lienfaye]

It’s hard to persuade those middle-aged people to invest in crypto. Do you think so?

That's right, maybe its because they're not aware of how it really works and the lack of information especially its a "thing" online wherein many scam investments are existing. Some people really prefer to invest in an investment with physical form like gold, real estate etc.

Well every investment has risk, its just that in crypto we have a high chance to gain more if you know how to take advantage the market and knows when to take profit. Its risky compared to other investment but if you can wait longer and has lots of patience then you can prevent the usual mistakes (selling at loss) if the market is not in a good situation.

Nevertheless if its not their thing then dont further pursue them. We have different belief anyway, if you did your part explaining and convincing them then its already enough. Who knows maybe someday they might discover themselves the significance and advantage of investing in crypto.

[LittlePrinceCat]

my parents are not interested in crypto either. Even though sometimes I give them an understanding of bitcoin, crypto, and blockchain, they still refuse if I invite them to invest. they believe more in investments that have a lower risk such as GOLD. they say the crypto market, like stocks or forex, is too risky for parents who don't want to focus too much on monitoring market movements. different from the price of gold which is quite stable so they can be easier to monitor.

But my dad isn’t interested in precious metals because the return rate of precious metals is too low. He thinks stocks are better than precious metals.

[cabron]

Can't do anything about it if its not your money, its your dad's money. I gave my wife cash from the profit I earn in cryptocurrency but asking her to invest her money in BTC, will just be turned down.

They will listen and their view could change when you give an example of the popular guys who already invest in BTC like Elon Musk but when its time to invest and ask their money, they will still again shake head.    Some people are just not open to new tech unless they see everybody else is using BTC already.

[Coin_trader]

You mention on your previous reply that your parents are already investing on stock but rarely to win so it will be more risky for them to invest on altcoins considering how volatile the market is. Instead of convincing your parents, just your funds personally and take the risk of trading for yourself. Let your parents manage there own business though. They have different investment style than us. Altcoin might not fit for them.

[LittlePrinceCat]

You mention on your previous reply that your parents are already investing on stock but rarely to win so it will be more risky for them to invest on altcoins considering how volatile the market is. Instead of convincing your parents, just your funds personally and take the risk of trading for yourself. Let your parents manage there own business though. They have different investment style than us. Altcoin might not fit for them.

No, my dad has invested in stock for few decades but he seldom earns money.

[wack slacker]

Investing is always risky and not everyone can withstand the loss in the crypto market. Give a full introduction to the cryptocurrency and its risks.Maybe your parents will refuse to invest, but it is more than trying to convince them to make it.

[Gayong88]

Nice story and it's real. Most of our parents previously still put their investment choices into gold and bought property such as land and others (save Heaven). Now the conditions are different again, various investment models and types are born every day and so many choices of futures.

Well, in my opinion, even though it is very volatile, it provides an easy-to-analyze understanding, and the proof is needed to convince other people if they want to invest in crypto as an additional investment option.

[iTradeChips]

Well in my opinion, there is only one reason why middle aged and old timers don't invest in Cryptocurrency - ignorance. Now when I say ignorance, what I mean by that is "ignore"-rance. They ignore whatever they are not familiar with. They do not know crypto and they do not spend the time and the energy to know more about it. So they ignore it. They also don't want their fragile egos (sorry for this realtalk) to be dictated by their kids as to what or what not to invest.

[lionheart78]

It’s hard to persuade those middle-aged people to invest in crypto. Do you think so?

This depends on the level of understanding of a person.  If a person doesn't understand cryptocurrency, he won't be investing in it no matter what is his age.  I belong to middle-aged people and most of my peers are too but we are deep into cryptocurrency and I have met people younger than us who is very hesitant to involve themselves on the cryptocurrency industry.

[tygeade]

It’s hard to persuade those middle-aged people to invest in crypto. Do you think so?

This depends on the level of understanding of a person.  If a person doesn't understand cryptocurrency, he won't be investing in it no matter what is his age.  I belong to middle-aged people and most of my peers are too but we are deep into cryptocurrency and I have met people younger than us who is very hesitant to involve themselves on the cryptocurrency industry.

Even it is up to individual's preference and selective nature, I guess what OP is missing is bitcoins. They must have tried for bitcoin to be adopted by their parent rather than trying for altcoins. If you are a middle age man and coming across latest  technology based things then probably you might got chances to know about bitcoins rather than ethereum or BNB.

So, if we try for bitcoin to be adopted by our friends or parents or relatives then we can be successful at higher probability. If we trey for unknown coin then we may not be successful as per my expereinces.

[cryptoperkele]

Crypto is not popular in my homeland. People in my homeland love to invest stocks and bonds. And real estate is the most popular investment. Only few people invest in crypto. My dad loves to invest in stocks but he seldom has a positive net income from the stock market. It’s the fact that crypto is a better tool to earn money, especially for the Altcoin. Then., I try to persuade my dad to invest in Eth and BNB. They’re worth to invest. Take myself as a good example, I spent the weekly pocket money on my first Eth two years ago and earn more than 10X of money. It seems that Eth is still going up in the future. It’s a good investment during this economic recession period. I tried my very best to persuade my dad to buy Altcoin like Eth and BNB but he thought that crypto was very risky and unreliable at all. Investing in crypto is the best way to earn money in this economic recession. It means that my family loses the chance to become rich since my dad does not invest in crypto.
It’s hard to persuade those middle-aged people to invest in crypto. Do you think so?

It's not just being middle aged, i wouldn't invest to something i woldn't understand or follow either. (Not that i understand most cryptocurrencies in the code level.) But cryptocurrencies are riskier, especially most altcoins, which you shouldn't bundle as one asset called "altcoins" as they differ in quality a lot.

Cryptocurrencies might be better tool to earn money now if you know what you are doing, but if you were in cryptos last 2 big bear cycles if you wouldn't say it's easy.

It's mentally exchausting to averaging in into something that goes down, especially when everyone close around you is telling you that you are an idiot for doing so. Or selling at the top, when everyone around you tells you are idiot and will miss the moon train.

In the end, you will get no credit from anyone, everyone just think you were lucky and say that they could have done it if they had bought the bottom. But at least you get money from it, so there's that.

[iTradeChips]

Nice story and it's real. Most of our parents previously still put their investment choices into gold and bought property such as land and others (save Heaven). Now the conditions are different again, various investment models and types are born every day and so many choices of futures.

Well, in my opinion, even though it is very volatile, it provides an easy-to-analyze understanding, and the proof is needed to convince other people if they want to invest in crypto as an additional investment option.

Speaking of precious metals, that is exactly the preferred investment of most of the people I have dealt with here in our community. They prefer gold and silver in their investments, and not just the gold bars but these are all in jewelry. Even women whether single or wives would prefer gold and diamonds or any precious stone. Anyway, all I am saying is that not all people are really into digital assets like Bitcoin and the alts but whatever, I am going to continue investing and trading.

[Lordhermes]

Similar case happened between me and my dad, he suspected me of doing some scamming activities in the internet but he couldn't tell me directly, he reported me to my friends, but they told him I buy and sell cryptocurrencies, he wasn't convinced and was confused, he has no shop for that, he replied them. It's was funny.

In my own understanding, every generation has her means of making money, parents thinks the best way to earn money is by getting Certificate and work for the government because that's what they were taught and trained to be, neglecting government rules is by investing in livestock or other physical business,

It's seems outrageous and risky when someone investing in something you can't touch and feel, parents can't believe it maybe your profit and things you have acquire from crypto investments can let them convince. It's a good topic to analyse here.

[indo1]

I tried my very best to persuade my dad to buy Altcoin like Eth and BNB but he thought that crypto was very risky and unreliable at all. Investing in crypto is the best way to earn money in this economic recession. It means that my family loses the chance to become rich since my dad does not invest in crypto.
It’s hard to persuade those middle-aged people to invest in crypto. Do you think so?

What your father thinks is right , No matter how great cryptocurrency is at the moment, it is very risky when compared to real estate stocks and investments. However, we all believe that altcoins are the best future investment, making to double your money. You have great experience in investing in cryptocurrencies, you can do that so that your father believes, there is no need to rush. We're still early.

[FairUser]

Be careful not to try to entice your family and make them fall victim to this market. If you do not think this market is an opportunity to convince, then prove to them that I think they may look back after seeing this market grow crazier. I used to advise my mom to buy btc since 2017, but my mom told me it's stupid, but now my mom is also an investor in this market, so please be patient. Then they will also see good things from this market.