How to Talk to Friends and Family About Crypto

The cryptocurrency market—which is volatile and includes risks and benefits—can be a modern pathway to potentially building wealth.* And I want to share as much info (for people to consider for themselves) as I can.

If you’re into the market, you may find yourself in a similar position of wanting to share news with friends or loved ones. But these conversations can be complicated.

For instance, your contacts may not understand the financial and tech possibilities of cryptocurrency—which, by the way goes beyond Bitcoin and includes a variety of altcoins like Ethereum, Cardano’s ADA, and even Dogecoin (created as a meme). Or maybe your contacts just aren’t fans of the market. After all, some people—maybe even you, dear reader?—may have (falsely) heard that crypto is nothing but a scam. Or that it’s only used for nefarious purposes. 

Nevertheless, if you understand the market, it may be worth trying to explain the landscape to others. Because, yes, there are some scams of which to be wary. But as Bitcoin has been surging to all-time highs this year—and mainstream media sites share news while celebs tweet about the space—it offers yet another chance to set the record straight. 

Plus, as we see companies like Tesla and firms like MicroStrategy pouring billions of dollars into cryptocurrency, many of us don’t want our loved ones left behind. So, since I’ve written about the possibilities that cryptocurrency presents—and continue to co-moderate public conversations on this topic with other knowledgeable people—I wrote about tips for having these conversations for Gokhshtein Media, where I’ve recently become a contributor.

One tip: Lead with facts instead of feelings. While it may be tempting to share emotions, sharing facts gives your loved ones a chance to evaluate information and news from their own perspective. 

Also use plain language. (This also is helpful when discussing a variety of subjects.) In general, by avoiding jargon and complex phrases—our cryptocurrency community has coined lots of them—you can help people understand your messages.

For more tips, please read the full story. I’m glad to contribute to this site and team and look forward to sharing more news on crypto in general.

P.S. Are you the one who has doubts or questions about cryptocurrency? You’re not alone. For background, feel free to check out my blog post on how not to have regrets in this space. Or feel free to comment here or follow me on Instagram and Twitter to stay tuned about my articles and talks on this topic!

*Note: When I share info about investing or finances, it is not financial advice. It’s so important to do your own research and evaluate your own financial goals. If you have questions about your specific situation, consider talking to a certified financial planner. It is possible to learn if you take time to do it.

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Cryptocurrency: Will You Have Regrets? Consider This

Recently, I was talking in a Clubhouse group that I co-moderate about regrets with cryptocurrency, which is decentralized digital currency (including Bitcoin, Ethereum, Cardano, and thousands more). My regret, if I had one, would be that I didn’t find out about cryptocurrency earlier. You see, Bitcoin launched in 2009, and people began trickling in. But when some people were getting into crypto even into 2013 and 2014, I was investing in, and spending on, other things.

I did get to the market eventually, and even had some help from friends. And I think things work out how they are meant to, in general, so regrets don’t really matter. 

“Don’t let lack of knowledge—of this or any financial sector—be the reason you miss out on info.”

Right now—even as Eitcoin and Ethereum have hit new all-time highs in 2021, institutional investors have bought serious amounts of bitcoin, and the markets receive media attention—I think we still have opportunity in this crypto space. As the value of the U.S. dollar has fallen against certain other currencies, and inflation abounds, cryptocurrency can show great promise when it comes to value, utility, and more.

For instance, while Janet Yellen, Ph.D., Treasury Secretary and former chair of the Federal Reserve, noted that cryptocurrency can potentially be used to fund illicit activities (which, really, so can cash), she provided additional comments in a January 2021 statement to the U.S. Senate Committee on Finance following her confirmation hearing. “I think it important we consider the benefits of cryptocurrencies and other digital assets, and the potential they have to improve the efficiency of the financial system,” Yellen noted in her written response to the committee.

So as we continue to watch this market, and its potential, there’s still time to learn and get into it if you feel so inclined. And to potentially build wealth. If you’re already invested in stocks, for instance, cryptocurrency can be a way to diversity an overall portfolio. But don’t let lack of knowledge—of this, or any financial sector—be the reason you miss out on info.

For my part, I’ve been co-moderating and speaking in related rooms on Clubhouse, alongside knowledgeable people, and also would love to have you join future events. (Examples below! If you’re on Clubhouse, you can follow me @lesliequander.) I also continue to read and learn.

The bottom line: Consider researching cryptocurrency for yourself. I say often, like many others in this space, that we should do our own research. This is a key part of learning in crypto and beyond. And it’s completely okay if you decide this market is not for you. But maybe take a bit of time to figure out if it might be.

Plus, there are solid resources to learn about the overall market, if you decide to, including prices, history, and some key terms. One additional place to start is coinmarketcap.com, which includes current overviews of the market, specifics on individual cryptocurrency history and performance, and even a learning section. And if you decide to buy, please know that you can start with only a few dollars, as it’s possible to buy “pieces” of Bitcoin and other cryptocurrency.

Reminder: I never give financial advice. 🖤 Your money is yours, and this market is volatile and has real upsides and downsides. So consider your personal situation, and whether you’d buy in with money that you can afford to lose.

So what do you think? Have you heard about cryptocurrency? Are you interested in this topic? Feel free to follow me and learn about the benefits and risks, potential utility, and more.

And if you see this post and have general questions—or would like me to speak on it for your organization—please feel free to email me, message me on Instagram, or comment. Thanks for stopping by!

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