My 60 Years Old Father Got His First Crypto Today 😁

acesontop (80)in LeoFinance • 4 years ago

Today BTC marked a new ATH of $51,615, and on this day my father, who is 60, got into crypto. He asked me to buy some cryptos for him and I have executed the orders asap. No, he hasn't bought a whole BTC or more, a matter of fact I just bought him 2 LTC. That's less than $500, but for me that's amazing.

After almost four years since I started talking crypto to him he decided to get his toes wet with a little bit of cryptocurrency. All the purchasing and storing is done by yours truly as he wouldn't manage to do all of that by himself, he doesn't even speak English, but I'd sure call this a mass adoption of crypto in my family and a confirmation of the world wide trend.

As I wrote above, 2 LTC is not much at all, for a starter that's something though. Probably as the prices will start climbing he'll ask for more, but for now he's the proud owner of 2 Litecoin and I'm curious how often he will call me to ask about the value of his holdings or whether he will check the prices by himself.

What I loved about his idea of entering crypto is that he really understood some of the basics. He stated clearly that for now he's not willing to risk more than he's fine with losing, it's like someone would have told him about this narrative from crypto and that he's fine with his coins going to zero, if they'll do but he hopes they at least double in value.

My parents know about crypto for as long as I have been around this space and they always seemed to get a bit of the fundamentals, but never really expressed themselves towards buying even $10 worth of crypto. I guess the inflation and the corrupt governments showing their dirty teeth lately have finally made it clear what crypto plans on healing and what perspectives it has for the world.

Why Litecoin?

Because I chose it 😁. Yes, he just said that he wants to own a few coins, but didn't really knew what he'd purchase so he let me make the choice for him. I chose LTC because that was my first crypto as well. Bought 10 of them back in 2017 at $50 and sold at $55...Smart move. I sure know my dad won't do the same bad move as I did. He's really more strong handed than I am.

If he'd be fluent in English I'd sure bring him to Hive as well, but unfortunately back in the days when he was in school, kids were studying Russian and French in our communist country and tbh he doesn't speak fluent any of them either.

The reasoning for him testing this crypto thing was that money loose value anyway so why not put a few bucks in these assets that I've shilled to him for quite a while. You see... again the man, who is 60, saw a hedging potential against inflation with crypto. How many 60 years old do you know owning crypto? I'd say not too many...

In my personal life he's the first one actually buying crypto at this age, and the second one so far that I convinced in buying into it. I know quite a few of my age and even younger that I advocated this opportunity to them, but many have passed by it. He didn't, and tbh I'd say he got himself a good deal considering that LTC hasn't even got to its previous ATHs.

ETH has done that already and LTC has to follow it. If you have a look at the all time charts for both you'll see LTC replicates quite often ETH's price performance, but lags a bit in doing that.

What's he gonna do with his 2 LTC?

Well, for now just HODL and I am 100% sure he'll add more and ask for diversification, as I have already explained to him that being all in something you might not make that much as you would with owning several coins. He relies on me with cashing in and also to have an idea of when the top would occur so he'd be selling.

A small grain of his wealth is now in my hands. I was thinking to ask him to install a wallet on his laptop, but no... He might loose the keys, do something bad with it... and don't want him to become another owner of forever lost coins. Overall a historic day today, BTC scored a new ATH and daddy bought his first crypto. Nice...

Thanks for attention,
Adrian