Explaining Bitcoin to Teens

Bitcoin, Blockchain, Ethereum, NFTs… technology innovations keep pilling up and opening new exciting doors into the future, and it's no time to stay out and uninformed about these new exciting technology!

Specifically, bitcoin and cryptocurrencies, in general, will become more common in the future, and young people will have the most use of this new technology. As such, it is very crucial for them to understand this topic.

When explaining crypto to young people or even newcomers to web3, Bitcoin can work as an ideal vehicle to present the basis of crypto and give a good start for their crypto journey.

Here are some examples I come up with to explain Bitcoin to different age groups.

Preschoolers

Children tend to be curious and want to know how things work. When explaining cryptocurrency to preschoolers, you can use simple terms and analogies to help them understand.

For example:

• "Kid: what is a Bitcoin?
• Adult: Bitcoin is like money, but smarter, and it only exists on a computer or a phone.
• Kid: why is Bitcoin smarter than regular money?
• Adult: Because Bitcoin work using a technology called a blockchain. Blockchain is like a librarian who keeps track of all the books in the library. In the same way, a blockchain keeps track of everyone who buys things using bitcoin. If mommy buys an apple with her bitcoin, the blockchain will make a note of it and keep it in its library all the records, and anyone can check them at any time."

Children of this age group learn fast and can understand more complex concepts than you might think. You can help them understand cryptocurrency without overcomplicating things using simple terms and analogies.

Preteens

Preteens are digital natives; also, they probably use digital tokens already in their PlayStation or mobile games. This makes them also more likely to be interested in cryptocurrency and how it works because they are old enough to understand the potential implications of this new technology.

So how can you explain Bitcoin to preteens?

You can start by comparison with the digital money they have in their Fortnite account or mobile game, like anyone around the world can buy bitcoin, and it is not tied to any country or region like regular money, and make the distinction when explaining who runs the accountability of this money and how it works.

For example, you can say:

"Bitcoin is a digital currency that is powered by a technology called the blockchain. Instead of having one central company and server taking notes and keeping records of every spending, there is this new cool technology that has a decentralized network of computers doing it. This means that many computers work together to keep track of all the Bitcoin transactions that take place. It allows anyone to review transactions, making it a transparent and reliable system without the need for someone to control it, like a bank or a government."

This explanation is more comprehensive, but it is still easy to understand. As long as you use terms that they are familiar with, they will be able to understand crypto without any problem.

Teenagers

Bitcoin philosophy can be easily understood by teens; we could say they share some interests. Also, teenagers like freedom and independence, and are trying to figure out where they belong (LOL), so they may enjoy being included in relevant topics some adults don't even understand. When explaining crypto to teens, you can go into more detail and use real-world examples to help them understand. Teens can benefit from being involved in conversations related to future innovations, financial education, and current affairs.

So, how can you explain Bitcoin to teenagers?

"Bitcoin is a cryptocurrency based on blockchain technology in which, blockchain is a new technology that is mainly a shared database on a decentralized peer-to-peer network and works as a digital ledger keeping the accountability of all transactions made with Bitcoin.

Blockchain technology, besides storing the information in thousand of computers, stores it in a way that cannot be edited, so every transaction is verified by all the computers. Bitcoin is available to everyone around the world and offers an alternative to fiat currency and direct online payments between people without the need for a middleman."

Teens will understand crypto if you use more complicated terms and real-world examples without problems. They are also more likely to be interested in crypto as an investment, so it is also crucial to explain the risks involved.

More tips for leaders / parents / teachers:

Be patient and take your time

When explaining these concepts, it's important to consider that there is a high level of complexity. But it's essential to be patient and take your time; they will love it when they understand it! Answer all the questions you can, and for the ones you can’t, research them together. This will be a win-win situation; you will strengthen your crypto knowledge while, at the same time, helping your kid understand crypto better.

Encourage them to do their own research

If your kids are interested in crypto, encourage them to do their research on specific blockchains or innovations in web3. They can start by reading crypto blogs or watching YouTube videos. There are many resources out there, and they will learn a lot if they take the time to explore them. Also, by doing their research, they will develop crypto knowledge that is their own and that you might not have. So, it's a win-win!

Find a crypto-related activity

A great way to make the learning process more fun and interactive is to find a crypto-related activity that your kids can do. Have fun learning! For example, you can set up trading competitions or token performance analyses. There are many possibilities, and crypto-related activities will help your kids to understand crypto in a more practical and fun way.

How doshi can help!

doshi is a crypto wallet that allows teens to learn about and explore crypto with supervision from their parents with guardrails that reduce the risks of making mistakes or getting scammed.

doshi also has a built-in learning academy function that helps teens to learn about crypto, blockchain, and crypto-wallets in a fun and interactive way with NFT rewards. The academy includes bite-sized content easily comprehended, and quizzes reinforcing the concepts learned.

So, if you're looking for a way to help your kids learn about crypto in a fun and safe way, doshi is the perfect solution! You can find out more about our digital crypto wallet suitable for teens here.

Do you have any questions or suggestions? Reach out to us on social media - we're always happy to chat!

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The information contained in this article is not financial advice and is for general informational purposes only. Please consult your financial, legal, or tax advisor before making any investment decisions.

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