5 mins

How to Explain Your Bitcoin Loan to Your Grandparents | Infographic

Chris Grundy
June 17, 2015

So you've just received the funds you need to grow your business with a bitcoin loan, but how do you explain the new expansion of your online shop to your friends and family? That problem has now been resolved with this fantastic infographic, showing you exactly how to tell gran and grampa what Bitcoin is all about!

Start off by showing the key differences between the cryptocurrency and fiat currency, highlighting Bitcoin’s decentralised nature and fantastic speed! Another important point to emphasise is the low or non-existent international transfer cost, which allows you to receive money from your customers in minutes, despite being thousands of kilometres apart!

Once you have established the basic principles of Bitcoin and your grandparents are marveling at the advantages the cryptocurrency offers, it’s time to show them how to buy Bitcoin or how to earn Bitcoins! Guide them towards one of the many free exchanges, such as coinbase.com, and help your grandparents get their first wallet!

Now they might suggest that they have nowhere to spend their newly acquired cryptocurrency, but never fear! Calmly inform them that over 15,000 online retailers now accept Bitcoin as a form of payment. Then explain that a plethora of websites, such as purse.io, can exchange your Bitcoins into gift cards which can then be used in most major retailers, including Amazon, Nike and Walmart.

If your grandparents prefer to spend their hard earn Bitcoin pension offline, the coinmap app is fantastic for finding local retailers which accept the cryptocurrency as an exchange for their services.

Now sit back and let your grandparents enjoy the cutting edge of digital financial services, and explore the wonderful world of Bitcoin.

How To Explain Your Bitcoin Loan To Your Grandparents

TL.DR This bitcoin infographic explains the basics concerning the world’s foremost cryptocurrency in simple, easy to understand terms.

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