How to teach cryptocurrency to your children

Mar 11, 2023 | wjb news

Teaching cryptocurrency to children's experts is a good way to introduce each other to the financial and technological world in detail. The following are some forms of interaction that can be used to teach cryptocurrencies to children's experts:

Start with the basics and make a comparison.

Describe the nature of money gradually from the conceptual definition. Tell your child about the effectiveness of various types of money and banks. The most important thing is to teach the other party the origin of money and how it participates in it, from banknotes to digital money.

Related: what is cryptocurrency? Digital currency beginner's Handbook

In addition, comparison is an important special tool for children to understand complicated definitions. For example, people can understand cryptocurrency as "digital currency" or "Internet technology loan currency" and generalize it with physical currency.

Play games and use real examples

Children can master cryptocurrency in an interesting way in the game. In addition to several puzzle games that contain cryptocurrency fundamentals, there are many simulations to buy and sell cryptocurrency online games.

Or, use real-life examples to guide children to understand how cryptocurrency works. For example, first play a guessing game, pick a secret number from 1 to 100, and then let your child try to guess what it is. For each of their guesses, give him a clue to the case to help it get closer. Nowadays, ask your child to pretend that every BTC is like a special number, worth a lot of money.

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Then, tell your child that everyone around the world is trying to figure out the Bitcoin number, and whoever is looking for it can keep it. But they have to keep guessing until they are right, just like in a simple guessing game.

But Bitcoin adds to the test, because the numbers to guess are always changing. Sometimes, it is really easy to guess, while in other cases, it is very challenging. It's like the numbers always fluctuate up and down, a bit like the stock market.

Guess the numbers between 1 and 100 again and express to your child that if he predicts and analyzes the numbers properly, we will reward them with a gift of 1 BTC. If a bitcoin increases in value the next day, they will have more money, and vice versa.

The blockchain is a digital lego

Tell your child to think of blockchain technology as a digital building block for tracking things. Internet technology money is not to build six stories or houses in Lego games, but to use blockchain technology to track sales.

Show each other how to buy cryptocurrency

Find a cryptocurrency trading simulation game and use its example tutorial to show your child how to buy a cryptocurrency. Explain to the other party the need to open an account on an encrypted currency exchange, just like on a website. In addition, tell them that in order to trade encrypted currencies with real loan currencies, they must use circulating currency to provide financial support for his exchange account.

Then, use the counterfeit banknotes in the game to buy some bitcoins and confirm the sale, just like in real life. After buying Bitcoin, guide them to observe the market trend and see if the quality is up or down. Make your child realize that if bitcoin falls in value, he may lose money, and vice versa.

In turn, to create a chess and card mobile game, children must use cryptocurrency to trade different items. This will help them grasp the concept of trading and the risks and benefits of investing in cryptocurrencies for their projects.

The digital wallet of the piggy bank as a special plan

Your child may say that you have problems with storing cryptocurrencies. You can tell the other person that cryptocurrency is stored in a digital wallet, not in a physical wallet, like a special piggy bank, and that digital wallets can be browsed from all over the world for online shopping.

Watch educational articles

Many educational articles have been circulated on the Internet to express the encrypted currency in a form that is easily accepted by children. You can enjoy this short video with your child and use it as the beginning of the discussion.

In addition, short videos can help children visualize complex concepts such as cryptocurrencies and blockchains, making it easier for them to accept the theme style.