3 Ways To Explain Bitcoin to Your Mom on Mother’s Day2021-5-9
Whether you’re planning a thoughtful gift or spending quality time this weekend with “World’s Best Mom”, the topic of Bitcoin might come up when you least expect it. After all, that’s what happens when you check Bitcoin prices during brunch. You can keep your Binance app open. We won’t judge (but your mom might).
Just keep in mind, there’s no one-size-fits-all explainer for Bitcoin. That’s because no two moms are the same. Before you explain anything, make sure you know your audience. For Mother’s Day, here are 3 different ways you can explain Bitcoin to mom.
For the crypto skeptic mom: Everything is becoming digital. Why not money?
“I’ve been hearing a lot about this thing called Bitcoin…” If this question comes up during brunch, don’t panic—just start with the basics. There’s no need to dive into topics like “what is blockchain technology?” or “who is ‘the real’ Satoshi Nakamoto?”
Instead, why not start with, “Bitcoin is like a digital form of cash. But instead of getting cash from the bank, you can buy it on an online platform like Binance.” Even crypto skeptics can agree that people are spending more time online than ever. The digital transformation that’s been taking place over the past few decades applies to money and finance as well.
Just as credit cards started to become popular in the 1970s and 1980s, followed by the online banking revolution in the 1990s and 2000s, today’s society is ready for an innovative new form of money.
For the crypto curious mom: It’s not magic internet money. It’s one of the best performing assets of the past decade.
“Okay, Bitcoin sounds interesting. But what makes it so valuable?” If your mom is curious about crypto, maybe it’s time to extend your brunch plans. Maybe order that second mimosa—but first, check Bitcoin prices to see if you can afford the splurge.
Like cash, Bitcoin is something you can send and receive. Or, you can use it to buy things. Like a Tesla, for example. You can also save Bitcoin for a rainy day. Unlike most forms of cash, which can be issued by central banks (thus increasing the supply of money), there will only ever be a finite amount of Bitcoin available. That’s why some believe it pays to “hold” onto Bitcoin, as the limited supply makes it valuable.
So valuable, in fact, that as a store of value, Bitcoin remains the best performing asset class to date. With an online platform like Binance, you can buy Bitcoin in minutes by linking a bank account or debit / credit card. You don’t have to tell mom that last part (just send her this “How to buy Bitcoin” article instead).
For the crypto savvy mom: What’s it like to be a Bitcoin whale?
Sometimes, moms know a thing or two about… tokenomics and technical analysis. Don’t count mom out when it comes to crypto—you might learn something new in the process!
Last word of advice: Have a Happy Mother’s Day from all of us at Binance. If you’re looking for a last-minute gift idea, why not help mom set-up a Binance account? For a limited time only, “World’s Best Mom” can enjoy a 10% discount on trading fees