How would you explain bitcoin and crypto to a teenager who is just new to the world of finance?

[King Belieal]

It took some of us years to have a grasp of what the crypto market was all about. Imagine a teenager that just getting into the world of finance asks you to explain the whole crypto and bitcoin thing to him or her?

Where would you start from? How would you explain it to her?

 

[Suba]

Of course, we'll only explain the basics of Bitcoin and crypto, such as that Bitcoin is a form of digital money, stored in a crypto wallet, and can be bought and sold on crypto exchanges.

 

[Augusta]

Crypto is virtual money that exists only on the internet. It's not controlled by any government or bank, and people can send and receive it directly to each other without needing a middleman,

 

[wisdom01]

. I think I would start by saying it is like digital money, but no bank holds it. It is just between people. But the whole thing is very risky and the value goes up and down like a rollercoaster. I would tell them to go very slow and learn a lot first for sure.

 

[Augusta]

You could explain it this way, i want to send money to a friend in another country. Normally, you'd need a bank to help you do that, and it might take a few days and cost some fees. Bitcoin is like a digital money system that lets you send money directly to anyone, anywhere in the world, quickly and with lower fees.

It's like sending an email, but with money. And it's secure because it's built on a technology called blockchain, which is like a public ledger that records all transactions.