Whether you have a genuine interest in all things financial, or you simply break out the news app from time to time, chances are you’ve already heard of the term cryptocurrency. These digital coins have been shaking up the financial industry but due to their new and not-quite-understood nature, they’re still an element of technology that most are holding at arm’s length. With talk of these coins becoming our future, however, should we consider teaching our children about it? We say yes, and here’s why.
Why Should We Teach Our Children About Cryptocurrencies?
There are a number of reasons we should be teaching our children about cryptocurrencies and cryptocurrency trading and not all of them are as obvious as you might think! From censorship to personal responsibility, here are just a few reasons to get you started.
1. Cryptocurrencies And Censorship
Censorship is a growing issue across the globe and cryptocurrencies, or rather the blockchain backbone that they are hosted on could be the answer to ensuring our children’s voices are heard in the future. By teaching kids about blockchain and how this decentralized network is an undeniably secure and un-alterable piece of technology, we can further teach them about how this can be used to ensure that their voices are heard, their data is secure and their future, at least in a digital sense, is safe.
2. It Could Be Their Future
The future – it’s a scary concept, but it’s something we’re all going to have. The end of this post will be a future. The end of this sentence will be your future! When it comes to cryptocurrencies, the potential they hold for the future is huge and giving our kids a head start in understanding what these technologies are in the first place can set them up for not only using these coins but also helping the development of this future.
3. It Could Teach Personal Responsibility
The biggest feature of any cryptocurrency that draws people in is the decentralized nature. What this essentially means is that there is no third party or bank managing your money for you. Instead, you’ll have complete control over your funds, your transactions, and they can only be verified through the blockchain. This personal control could teach kids how to be much more responsible with their money, and even their own data, so it’s an undeniably valuable technology to teach.
How Do I Teach It?
Of course, a lot of tech-heavy text isn’t going to be kid-friendly, but there are ways you can describe and explain cryptocurrencies to your children without frying their brains. From keeping it simple and developing the explanation with the more they understand, so simply just understanding it yourself, there are a few ways you can better develop a child’s knowledge of cryptocurrencies:
Understand It Yourself
Understanding cryptocurrencies yourself is vital if you want to teach your kids yourself. If you aren’t sure of the ins and outs of the basics of cryptocurrencies, then do your research. There are plenty of beginner-friendly guides available across the web to start from!
Keep It Simple
The key to teaching children and them actually understanding what you’re trying to teach is to start simple. Of course, there’s much more to cryptocurrencies than the simple ‘digital coins’ definition, but by starting small and gradually developing the knowledge, your children are more likely to take in what they’re being told and understand the more complex information as they’ll already have a foundation from which to build up their knowledge.
Make Sure You Cover The Main Points
When it comes to teaching them thoroughly, though of course, you need to do it slowly and simply, you’ll need to make sure you cover the main points. Understanding why cryptocurrencies are so secure might not be much use without the knowledge of where or how to spend these secure funds. For younger children, it could be worthwhile starting with the concept of what currency is and what digital, online or contactless payments are.
Teaching children about cryptocurrencies could open them up to a unique future in the world of digital payments and blockchain security. This knowledge can help them get their foot on the ladder in the industry, helping them to build and develop their knowledge as they grow up.
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