How To Explain Cryptocurrency To Someone Who Could Care Less About Cryptocurrency

in #hive-167922last month (edited)


Have you ever tried to explain cryptocurrency to someone who is not into it? You will see eyes rolls and yawns. But as cryptocurrency is a part of your life the topic might come up with others that are in your life just like conversations about money. And money is the way to explain cryptocurrency to people who have not even set up their own e-mail. It is a concept people already have an understanding of. So when I'm trying to explain something in cryptocurrency about different coins I just use this simple concept: Foreign Currency.

Ethereum is the same as a euro is to someone who is in America. It can't be used at the stores but I can easily trade it for US dollars. Leo can be an Australian dollar or a Yen. It has value but you need to exchange it for your currency to use it.

Cryptocurrency Is Money

Sure it is a lot more than money and there are some pretty amazing technology that are making it more efficient by the day. Take Leo for example where I can use it to vote and trade it for cash. But as my title of this article states, this is an explanation for people who don't care about any of that.

At the end of the day there is no difference than coins sitting in your wallet and currency at the bank in your account of a foreign country. You need to access an exchange and then you spend it. Cryptocurrency is money. It doesn't need to be magical internet money it is a currency that goes up and down in value like other currencies too.

All foreign currencies go up and down in value relative to your currency in the currency you reside in and it is the same with crytpo. Some days ethereum will be more, just like some days the Euro will go up in comparison to the US dollar.


It Really Is That Simple

You really don't need to go beyond that. I get paid in a currency which is like a Euro that I have to exchange for American. That is something anyone can understand. Money is already digital and your account already has digital money in it. All that is different is the one step of exchanging and as more places take cryptocurrency directly you don't even need to do that. You would have no problem taking Euros for your work if you lived in America so why would it be any different to take Ethereum when it is as easy to exchange it as Euros are?

With Swaps It Is Even Easier

Now with swaps I can earn one currency and exchange it for a currency that is the most excepted in the market place and then trade it for fiat. Done in minutes. It is the same amount of time it would take to order currency for another country. It might even be easier to swap than it is to call the bank to trade your euros for dollars. You get a currency trade that for another currency and buy a sandwich with it.

Cryptocurrency Is Ready

Not only is cryptocurrency as good as any other currency you can exchange for at the bank, if people choose to accept it directly you don't even have to exchange it. The technology is there and more and more sites will probably takes coins directly for payment as the gateways get easier to use for the masses. You will still need to describe it as foreign currency to those who don't use computers but still it make it easier for you to skip that one step and just use the coins directly.

This is all you need to do to tell people how you make a living posting on a site like Leo that really don't care about computers or crypto. And if they ask questions beyond that then you can bring up all the benefits that crypto has. You can tell people about how they can earn to post on sites like Leo or the low fees they pay to send money to a friend. But until then keep it simple. !

Posted Using LeoFinance Beta


Explaining crypto to nontechnicals is the biggest headache until you show them how there are big numbers involved but even then they still don't really get it.

Posted Using LeoFinance Beta