Is Crypto as "payment" method adaptable for non tech-savvy people?

[radius5.5]

Hello guys,

Today I came here in hopes to find an answer to a very IMPORTANT question.

I have been helping businesses for the last 6 years with the implementation of blockchain and cryptocurrency in their business. It works fine for the people who know how things work in crypto.

But when it comes to the general public (non-tech-savvy), I can see that people still can't use it, and they are afraid of the technology. They don't know how to use it.

Also, they fear losing money. If they miss the private key their funds will be lost forever. No one is there to help them recover. See this news.

https://www.nytimes.com/2021/01/13/business/tens-of-billions-worth-of-bitcoin-have-been-locked-by-people-who-forgot-their-key.html


Is anyone here thought how can we help our children and elders in our family so they can use crypto without hesitation just like they use fiat money?

Because I don't blame those who don't have the knowledge, I consider this our responsibility how we can make a solution so that those people can also use it as a day-to-day payment method without a second thought.

Does anyone know if any best user-friendly solutions already exist in the marketplace to overcome these challenges?




Let's discuss this topic.

[Kakmakr]

Anyone that can use online banking, will not have any problem using a custodial crypto wallet service, because it is that easy. You register for a online wallet service and you link your bank account to that service.. so that you can deposit fiat currency to buy crypto currencies.

I have local online wallet services, but I use a hardware wallet and Electrum for every day use. Yes, there is an initial learning curb, but nothing more difficult than setting up a facebook or Twitter account. 

[AHOYBRAUSE]

Hello guys,

Today I came here in hopes to find an answer to a very IMPORTANT question.

I have been helping businesses for the last 6 years with the implementation of blockchain and cryptocurrency in their business.

It feels like people still can't use it, and they are afraid of the technology. They don't know how to use it.

Also, they fear losing money. If they miss the private key their funds will be lost forever. No one is there to help them recover. Is there any easy way to do so?

Is anyone here thought how can we help our children and elders in our family so they can use crypto without hesitation just like they use fiat money?

If we can solve this together this will be a huge leap in the Cryptocurrency industry.

Let's discuss this topic.

At least here in Japan, it is to some extend.

I have seen young girls ( and I mean young ) paying their coffee with bitcoin several times. And some on some occasions older people paying some things in a tech store with crypto as well. The clerk even explained to them what to do .

In some shops you got % off when you pay with crypto, I guess these shops see the potential in it possibly earning more in the long run.

There is a site running a scam at the moment ( I made a thread about it, classic ponzi ) and they target Japanese as well. The deposits are all in USDT and in some cases bitcoin. A friend worked (until he figured out it's a scam, even though I told him from the beginning that its obvious) as a translator for the scammers. He told me in the meeting and presentations they were all eager to learn about crypto. Most of these people are 50 and older and they had no problem adjusting to something new.

Too bad that in the end they lose.  

[Nwada001]

You said you have been doing this for the past six years. What exactly are you doing? Where do you install a payment gateway into their business site for easy acceptance of crypto?
Or you were helping them generate an address with a phrase and a private key that can be used to accept payment? 
 
If keeping the private key safe is their issue , then they might actually not be able to safe guard their funds. I guess they might actually not be that exposed to the internet. I suggest they buy a a hardware wallet and be safe guiding it the way they safe guard their fiat at hand, but still they will need to backup the phrase.
 
If they want where they can't be thinking about phrase and private key then they should be using centralized platform that's handing their security protection over to the hand of others which will really not be a wise idea, but if they actually want to be accepting crypto and don't want to be use private key and phrase they should go for centralized service providers like, exchanges. 
 
 

[yazher]

That's the only thing you can do for them, you just need to let them know about it and the rest is up to them whether they decide to adopt it or not because we cannot force them to do it and just blindly follow our decision because when things aren't going well in the crypto market and they lose huge amount of money, they will undoubtedly put the blame on you. So to be safe, the only role you need to take is to spread awareness and educate them, and let them decide what they want after that. You need to know that losing money is not a joke and when they don't find any answer, they will surely turn against you, and worst case scenario they will file a case against you.

[passwordnow]

Start with the most basic thing and that's to know how to save and keep their private keys. There's no way that they'll learn everything in an instant and it goes through a process that everything will be learned. Let them watch some videos like Andreas Antonopoulos' bitcoin for dummies or books that he has published. They can't learn everything within a day but they can start with the basics on how to generate wallet, keep their private keys, learning what are their addresses and those things.

[CryptSafe]

This question is really a newbie type with a fictional experience. OP, while reading and seeing the 6 years of teaching and helping others to implement bitcoin payment in their various activities and setups, I was thinking and reading to seeing your achievements and goals well stated but it was not clear with me when I got to the last paragraphs of your post. Does it mean all the years you have been helping others you learnt nothing from the past so as to remedy the future when any of such comes up? Do you not have proofs to show to the people who you met in the recent and are still sceptical about bitcoin? What happened to the knowledge gained in the past 6 years to apply in handling the current situation you found yourself. If you can, get your previous experiences with your past works out the all together and use them to educate your possible and potential clients in the future so as not to get them scared. Maybe you might get it right this time around.

[Yaunfitda]

There are a lot of mobile cash app in the market and if I'm not mistaken, each country has it's own mobile cash app. And with that it's very easy to transact with you cash and this could be the case for bitcoin as well. Of course there is a learning curve, but if know how to used a mobile phone and then this apps then obviously you can only used it with a bitcoin wallet.

And I guess with pandemic, everyone is online now, so I guess children or elderly knows to transfer and how to received money in fiat. And if they can do it with fiat, then they can transition to a bitcoin wallet anytime.

[Solosanz]

It feels like people still can't use it, and they are afraid of the technology. They don't know how to use it.

Also, they fear losing money. If they miss the private key their funds will be lost forever. No one is there to help them recover. Is there any easy way to do so?

It's not surprising people still can't use it because government doesn't force to make anyone aware of Bitcoin existence and encouraging people to use it, actually many governments were warn their citizens to not use Bitcoin.

To be fair, if they use centralized exchange, they didn't need to worry about miss their private key. Even if they lose their password, they can just contact the CEX representative or use forgot password option.

[Husires]

Let's know the problem, is it technological or psychological?
According to my experience, people are afraid of something new. I remember that there was a drawing 100 years ago showing electricity as something evil.

Therefore, it is natural for people to be afraid of Bitcoin or warn of it, and we do not forget the role of the media in drawing this bleak picture and the bad use during the first years of this technology.

This generation has become accustomed to the fear of losing money and the rule was, leave the money in the bank, as it might be stolen from someone in the house or damaged by fire or flood, while all the procedure that the bank requires from you is to prove your identity and your signature with a few numbers to remember.

When holding cash is a problem in itself, people will get used to Bitcoin.

[Obito]

I think so, people may look dumb when they are clumped together but individually, they're smarter than many give credit for. Let me give you an example, my grandmother knows how to use GCash which is an online payment system in my country, I just had to taught her the basics and answers the questions she have and then she's good to go. So, the answer to your question about adaptability, I think that non-tech savvy can do just fine.

[radius5.5]

Start with the most basic thing and that's to know how to save and keep their private keys. There's no way that they'll learn everything in an instant and it goes through a process that everything will be learned. Let them watch some videos like Andreas Antonopoulos' bitcoin for dummies or books that he has published. They can't learn everything within a day but they can start with the basics on how to generate wallet, keep their private keys, learning what are their addresses and those things.

Definitely, I agree with you. We should invest in educating them. I have been following Andreas Antonopoulos for learning for a long time and it helped me.

On the other hand, I have seen that every new technology like AI has made life easy for people.

Cryptocurrency provides numerous benefits like faster payments, I am just looking for making things even simpler for the general public.

Like they never get to worry about keys and all. Like something linked to their ID all the time and they can recover it if they lose.

[SamReomo]

Hello guys,

Today I came here in hopes to find an answer to a very IMPORTANT question.

I have been helping businesses for the last 6 years with the implementation of blockchain and cryptocurrency in their business.

It feels like people still can't use it, and they are afraid of the technology. They don't know how to use it.

Also, they fear losing money. If they miss the private key their funds will be lost forever. No one is there to help them recover. Is there any easy way to do so?

Is anyone here thought how can we help our children and elders in our family so they can use crypto without hesitation just like they use fiat money?

If we can solve this together this will be a huge leap in the Cryptocurrency industry.





Let's discuss this topic.

As you said that you have been helping businesses to implement Bitcoin and blockchain for paying their customers or accepting it from their customers as a form of payment. Even after using it for 6 years in their businesses how aren't they still not good at handling it? I

Using of Bitcoin or Blockchain tech is not that difficult, and there's nothing to be afraid of from this technology. If they really don't know how to use it, then teach them the Bitcoin and blockchain by conducting physical seminars and personally clearing their concepts about Bitcoin. Guide them online via video call that will help them to learn this technology faster.

They shouldn't have the fear of losing their money because Bitcoin is highly safe, and if handled carefully then their funds are highly secure. Just teach them the ways to save their private keys. Teach them to save their private keys on SSDs or write those keys on paper and keep those in a safe. Once they start using it they will be used to it and their fear will disappear over time.

It's easy to teach children that how to use cryptocurrencies just like fiat, but it's hard to teach elder ones. Children are advanced these days and they know tech far better than our generation, and they can easily learn Bitcoin and other cryptocurrencies within short time, but elders on other hand are not good at tech so it can be a difficult task to teach them that how to use Bitcoin and cryptocurrencies just like fiat.

[Zaguru12]

The lack of its backing from government is still a key factor because people most especially the older generation are very skeptical about it and they don’t see it difference with a Ponzi scheme. So far it is still early to force people to use since most of these people hardly do cross border transactions which is one of their biggest advantages of bitcoin over the fiat.

Concerning safeguarding the private key and seed phrases, I still feel it is just an excuse for people who don’t fully believe in crypto and take this as huge risk. These set of people are those that safeguard their banks pin for years so to keep this shouldn’t be much of a problem they truly want to use bitcoin.

To be fair, if they use centralized exchange, they didn't need to worry about miss their private key. Even if they lose their password, they can just contact the CEX representative or use forgot password option.

I wouldn’t advise centralized Exchanges with all the saga that is surrounding them. Even the fiat banks looks more secure than some of them this days. If at all Some is looking for a third party to safeguard their keys then it should be with some close like a family relation or some trusted. Although both has its risk but I rather have it some one known. A centralized exchange should always be treated as a marketplace

[radius5.5]

This question is really a newbie type with a fictional experience. OP, while reading and seeing the 6 years of teaching and helping others to implement bitcoin payment in their various activities and setups, I was thinking and reading to seeing your achievements and goals well stated but it was not clear with me when I got to the last paragraphs of your post. Does it mean all the years you have been helping others you learnt nothing from the past so as to remedy the future when any of such comes up? Do you not have proofs to show to the people who you met in the recent and are still sceptical about bitcoin? What happened to the knowledge gained in the past 6 years to apply in handling the current situation you found yourself. If you can, get your previous experiences with your past works out the all together and use them to educate your possible and potential clients in the future so as not to get them scared. Maybe you might get it right this time around.

I understand Cryptsafe. The tech-savvy people know how to handle their keys and some people we can train them easily. But there are some people who struggle.

But I just edited my message above. I want all of us to take a notice of this case

https://www.nytimes.com/2021/01/13/business/tens-of-billions-worth-of-bitcoin-have-been-locked-by-people-who-forgot-their-key.html


Cheers

Let's know the problem, is it technological or psychological?
According to my experience, people are afraid of something new. I remember that there was a drawing 100 years ago showing electricity as something evil.

https://miro.medium.com/v2/resize:fit:982/1*xXOjj1CVeuIPq8ZRvvbv6A.jpeg

Therefore, it is natural for people to be afraid of Bitcoin or warn of it, and we do not forget the role of the media in drawing this bleak picture and the bad use during the first years of this technology.

This generation has become accustomed to the fear of losing money and the rule was, leave the money in the bank, as it might be stolen from someone in the house or damaged by fire or flood, while all the procedure that the bank requires from you is to prove your identity and your signature with a few numbers to remember.

When holding cash is a problem in itself, people will get used to Bitcoin.

Amazing example Husires!!

The lack of its backing from government is still a key factor because people most especially the older generation are very skeptical about it and they don’t see it difference with a Ponzi scheme. So far it is still early to force people to use since most of these people hardly do cross border transactions which is one of their biggest advantages of bitcoin over the fiat.

Concerning safeguarding the private key and seed phrases, I still feel it is just an excuse for people who don’t fully believe in crypto and take this as huge risk. These set of people are those that safeguard their banks pin for years so to keep this shouldn’t be much of a problem they truly want to use bitcoin.

To be fair, if they use centralized exchange, they didn't need to worry about miss their private key. Even if they lose their password, they can just contact the CEX representative or use forgot password option.

I wouldn’t advise centralized Exchanges with all the saga that is surrounding them. Even the fiat banks looks more secure than some of them this days. If at all Some is looking for a third party to safeguard their keys then it should be with some close like a family relation or some trusted. Although both has its risk but I rather have it some one known. A centralized exchange should always be treated as a marketplace

You are right about the "Centralized exchange should always be treated as a marketplace " Yes it should be; not as day to day payment method.

"I still feel it is just an excuse for people who don’t fully believe in crypto and take this as huge risk." Yes, there is a majority of people in this world like this.

And we want them to onboard with Crypto, how can we do that?



[moderator's note: consecutive posts merged]

[Z-tight]

And we want them to onboard with Crypto, how can we do that?

Stop posting multiple posts in a row:

Posting multiple posts in a row (excluding bumps and reserved posts by the thread starter) is not allowed

If one is a business person and wants to implement BTC payment in their business, but do not want to worry about private keys or even owning a wallet, then they should use a payment gateway that will convert whatever money they receive from their customer into the fiat currency they choose and send it to their bank account.

If the person isn't a business person, but wants to use BTC to make purchases and also for investment, then they have to learn how to use it, and stop spreading the wrong idea that it is difficult to do, it is not. A wallet like Electrum is very easy to use, you just have to write out your seed phrase backup and keep it safe as you do with your secret bank account info. Then if you wanna receive funds from someone, you copy and send them one of your BTC addresses, and if you want to send BTC to someone, you just click on 'send', input the recipient address, input the amount, adjust the fee rate as you like and send, that is not more difficult that sending money through your bank's mobile app.

[Aikidoka]

I believe that Bitcoin is user-friendly and accessible to anyone, regardless of their technical expertise. All you need is a basic understanding of how it works, including the underlying blockchain technology, and then sending and receiving funds is straightforward. Therefore, even non-technical individuals should be able to use it without difficulty.

Also, they fear losing money. If they miss the private key their funds will be lost forever. No one is there to help them recover.

It's understandable to have concerns about losing your money, but consider this: do you trust banks more than yourself? If you take the necessary precautions to secure your private keys and prioritize your own security, you can be 100% safe. Plus, you won't have to rely on a third-party to hold your money. Ultimately, your money is your own responsibility, and you should have control over it.

[EarnOnVictor]

If you are truly experienced in crypto and blockchain technology, you should know that there is no shortcut to them. It's more advantageous to those people who get involved in cryptocurrencies as they would surely gain from them if they fully learn about them. We should stop being illiterate and embrace technology which is the way forward in this revolutionizing world.

As for the private keys, no one can keep them for them, you can only educate them better on it. If people could keep their certificates well for the rest of their life, they should be able to keep them too.

My candid advice to them is that they should not keep it electronically, but write it on paper. It could also be typed and printed, and still duplicated in about three places without tagging what they are meant for.

[acroman08]

yeah, they can, cryptocurrency is fairly new to a lot of people and it is not surprising that they don't know how to use it or that they are afraid of it, it is also going to take time for people to fully adapt to it.

Is anyone here thought how can we help our children and elders in our family so they can use crypto without hesitation just like they use fiat money?

teaching them the basics of cryptocurrency/bitcoin and start familiarizing them to the process of creating wallets, making transactions etc... is a great way to start.

[Wexnident]

Hello guys,

Today I came here in hopes to find an answer to a very IMPORTANT question.

I have been helping businesses for the last 6 years with the implementation of blockchain and cryptocurrency in their business. It works fine for the people who know how things work in crypto.

But when it comes to the general public (non-tech-savvy), I can see that people still can't use it, and they are afraid of the technology. They don't know how to use it.

Also, they fear losing money. If they miss the private key their funds will be lost forever. No one is there to help them recover. See this news.

https://www.nytimes.com/2021/01/13/business/tens-of-billions-worth-of-bitcoin-have-been-locked-by-people-who-forgot-their-key.html


Is anyone here thought how can we help our children and elders in our family so they can use crypto without hesitation just like they use fiat money?

100%. It's just a matter of them being taught how. Fiat was really easy to use since people use it all around us, so even without being taught directly, we can still learn it somewhat. Crypto on the other hand may require more tech to use, but considering how wallet apps are growing already, I don't think having a QR code for your crypto wallet would be that much of a hurdle to learn.

Additionally, it's not something to be forced really, that's why the idea of fiat and crypto coexisting has never left my mind. One is the governments wouldn't let crypto have its dominance and two, some people just don't bother wanting to have the advantages crypto has. It's dangerous maybe, but since it's a service being offered by the government (which most probably trust) I don't see anything wrong with forcing them to transition.