Getting The Gen Xers On Board With Cryptocurrency
It's no news that cryptocurrencies are steadily taking over the digital world especially among the younger generation. Some might say it's due to the early exposure to technology unlike the older generation and so the ease in adopting digital currencies. Today atleast 50% of cryptocurrency lies in the hands of Gen Zs and millennials especially in countries like America, Russia and even Nigeria, a country which is trying to crack down on crypto transactions. A lot of people might wonder why such governments frown against cryptocurrencies and some argue it's due to the fears of a more financially independent population or due to its decentralized nature.
Taking a closer look into countries like that one would notice that most people in power are the Gen Xers (1965-1980) who are yet to fully grasp what cryptocurrencies mean or the huge potentials they hold. Most of these people back up claims of cryptocurrency being a scam with the growing population of fraudsters which have sprung up from the high unemployment rate in the country, a factor that they have failed to control.
If you have followed my articles for a while you would remember a certain one which I shared about my father also believing cryptocurrencies are scam. But then I start to wonder where these Gen Xers got the idea or belief that cryptocurrencies are a scam when they don't even understand what digital currencies mean. Most Gen Xers actually take to heart whatever the government says about certain subjects without taking their time to decipher or understand it like the millennials or Gen Z's would. The millennials and Gen Z's have always been rebels from the onset, going against the norms that Gen Xers would have accepted as fate. A typical example is the EndSars protest that happened late last year in Nigeria which was championed majorly by millennials and Gen Z's.
I believe a good orientation on cryptocurrencies or digital currencies and its potentials might actually help the Gen Xers understand what it really is about. Most assume it's a money doubling scheme like some governments have painted while others think it's another form of scam youths indulge in. For others they can't really come to terms with the fact that most things including money might go digital when they can barely grasp what going digital means. It is quite understandable, since they grew up in the analog era where 10 people had to carry out a task which a computer can now complete in 10 minutes hence feel threatened by it. Digital currencies aren't here to screw things over like most governments paint but to create an even wider financial ecosystem.
Sadly, most Gen Z's haven't shown the best examples either . These days a considerable number of young people are involved in one scam or the other blaming it on the high unemployment rate. I still don't see this as a good reason to tarnish both ones image as well as the country's as this become a major card in the hands of people who refuse to believe in cryptocurrency. Until the Gen Z's and millennials start to show a good example of how cryptocurrencies can help the Gen Xers might never take it serious. By being transparent and open with crypto there might actually be light at the end of the tunnel for the different generations in question. This to many might not be the solution to the problem faces in crypto restricted countries but is definitely a good step in the right direction.