Hello again friends, I am reaching out to the community today to request assistance. I was recently approached by a local community club, mostly made up of retirees, and asked to speak about cryptocurrencies. Now, I'm not the most successful crypto investor, nor have I spent years in the space...but I'm also not a complete beginner. I printed out some copies of "what you must know before investing in cryptocurrency" by Nathan Reiff, and I'll read through that brief flyer with them as well as speak a little about the underlying technologies.
What I need from you? Comments.
Please, what advice would you give to a group of older and likely more cautious investors? Also, can you think of any preconceived bias's they may have toward the space, and debunk them?
I will read all relevant comments to the audience toward the end of the presentation.
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Given the recent development regarding 20% APR for HBD kept in savings, it would be good to compare this with the way savings accounts worked during the 1970s or 1980s (if not earlier). HBD can be introduced to them as Hive blockchain's own stablecoin. Also, many will remember savings accounts offering at least 10% interest each year. For the most safety-conscious among them, the best thing they can do is put some discretionary income into HBD held in savings
A good next step is to discuss liquidity pools (especially those which offer LP Rewards). Let their contributions to the diesel pools earn them daily or periodic rewards.
I think these 2 things alone would convince older people to get into crypto in a decentralized way-- no ETFs, no brokerage houses, no centralized exchanges.
Getting fiat money converted into crypto is still a necessary evil, but even here they convert the fiat into stablecoin crypto, wait for the clearing period to pass, then offload the stablecoin into a Web3 wallet so they can buy the crypto they want or keep the stablecoin.
HODLing Bitcoin or another major crypto is a good idea, but this is dependent on the price. I think combining this with a bit of DeFi would make having crypto more appealing. Just as with dollars and pesos, they want ways to make their money work for them.
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First thing you have to make clear to them is that Crypto is not a rich quick platform, you take things slow with Crypto and give it time.
It is the most important thing I think you have to make clear to them
Then, try to understand the aspect of cryptocurrencies they want to venture into as cryptocurrencies are divided into many areas
Goodluck
that's great advice! I wish it had come just a little sooner as I didn't get to read it to the group, but no worries...I'll still make sure everyone hears it. I'll have a post up shortly just to tell how it went.
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Good luck with your talk!
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