People say to avoid politics and religion at family gatherings. You might as well add money to that list - but not this year! We love this article from Tech Crunch, “How to talk about cryptocurrency at the holiday dinner table” (link) because the holidays can be full of awkward and uncomfortable moments. If you need something to talk to Aunt Betty about that makes her stop kissing your face, tell her about cryptocurrency.
The article starts with a typical scenario: “You’re sitting down to a nice meal and your aunt, always one step ahead, mentions she wants to start investing in Bitcoin. You freeze, a drip of gravy plopping off the ladle. It’s your time to shine.”
What’s different about talking about cryptocurrency than regular investing? While there are many opinions about strategy and best practices, digital currency is still fairly new. There is no right or wrong way to invest right now, except by not investing. If Elon Musk is doing it, it can’t be wrong.
WHERE TO START
If your family isn’t really familiar with crypto, you can start by giving them the basics, which you can share with them here: What is Cryptocurrency. You can basically read the Cethereum blog to them to bring them up to speed. You can also share the latest trends, which are conveniently located on our homepage:
In closing, “Tell your family that cryptocurrency will eventually replace the way we send money from computer to computer. Tell them that there are a lot of smart people doing a lot of cool stuff that was impossible even a few years ago.” Be sure to mention that “the FBI won’t arrest them for trading in Bitcoin” or other cryptos. Sure, it’s “all a gamble but it’s a gamble that mixes the high-stakes world of Wall Street with the high tech world of command lines. It’s complex, fascinating, and fun.”
You can also read a recent article on CoinSpice, “Bitcoin Home for the Holidays: Talking to Family, ”here. It’s mostly about Bitcoin, but the larger points apply to all cryptocurrencies. It can be fun to be the one at the holiday gathering that has all the insight into this wild, new world they’ve been hearing about.
Lastly, the holidays are a time when everyone comes out of the woodwork, including that hard to reach financial advisor. The holidays are also a great time to make sure your financial advisor speaks crypto. For a how-to guide on that conversation, check out Investopedia.
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References:
https://www.investopedia.com/news/does-your-financial-advisor-speak-crypto/