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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Bitcoin Hits All-Time High. Why It—and Other Cryptocurrencies—Matter

Tweet by lesliequander reading "Well, this has been a day" about bitcoin

If you’ve ever wondered if you should take cryptocurrency seriously, you should.

On December 16, 2020, Bitcoin, the best-known cryptocurrency (but not the only one by far), hit $20,000 for the first time ever. It then went on to more than $21,000. By the next day, it was at more than $23,000.

After its lows of around $3,600 in March (when the pandemic affected global markets), this all-time-high is major. And it’s particularly interesting for U.S. investors during our current economic times, as the dollar has been down when compared to currencies like the euro. Plus, everyday and institutional investors have been buying Bitcoin. ⁠

What does this milestone mean? Well, if you’ve ever wondered if you should take Bitcoin and other cryptocurrency seriously, you should. I certainly do.

As I write this post, the global market cap of cryptocurrencies is more than $600 billion, CoinMarketCap reports. Yes, billion with a B. This is clearly something to pay attention to.

For now at least, as news continues to break, be aware that cryptocurrency—decentralized digital currency—exists. (The paper money in the background of the photo in this post is not the only game in town.)

Also remember: Bitcoin is a leader, but thousands of other cryptocurrencies exist at varying price points, including Ethereum (aka Ether or ETH), XRP, Litecoin, and Chainlink.

Also know that the crypto market is volatile and care is needed when investing, as you can see from Bitcoin’s intense price fluctuation just within a day (and during this year). And every currency is not something to invest in. So know that investors can have real gains and real losses.

Note: This blog does not offer investment advice. Always do your own research if you decide to invest in any financial market.

So have you heard of cryptocurrency? Do you find it confusing?

If you follow this blog and my YouTube channel, you may know one of my core subject matter areas is personal finance. And that I like to share what I know and encourage people that success and a wealth mindset are possible. This post is just a quick look at the landscape; there are many other things to discuss including the importance of blockchain technology, pros and cons of holding or investing in cryptocurrency, and more.

In closing, remember news is happening in this sector, which is one worth tracking. Please stay tuned. And feel free to share your thoughts or questions here, or on my Instagram page. 💥

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