How to teach cryptocurrency to your children

Teaching cryptocurrency to children can be a great way to introduce them to the world of finance and technology. Here are some interactive ways one can utilize to teach cryptocurrency to children:

Start with the basics and use analogies

Start by defining and describing the nature of money. Inform your kids about the various types of money and the function of banks. It is also important to teach them the origin of money and how it got involved, from paper money to digital money.

Related: What is cryptocurrency? A beginner’s guide to digital currency

Furthermore, analogies can be a powerful tool to help children understand complex concepts. For example, one could explain cryptocurrency as “digital money” or “internet money” and compare it to physical money.

Play games and use real-life examples

Children can learn about cryptocurrencies in amusing ways through games. In addition to several board games that cover the fundamentals of cryptocurrencies, there are many online games that simulate purchasing and selling cryptocurrencies.

Alternatively, use real-life examples to help children understand how cryptocurrency works. For instance, begin by playing a number-guessing game by picking a secret number between 1 and 100 and asking your child to try to guess what it is. For each guess they make, give them a clue to help them get closer. Now, ask your child to pretend that each Bitcoin (BTC) is like a special number that’s worth a lot of money.

Related: A beginner’s guide to the GameFi ecosystem 

Then, tell your kid that everyone around the globe tries to figure out the Bitcoin number, and whoever finds it, gets to keep it. But they have to keep guessing until they get it right, exactly like in the simple number-guessing game. 

However, Bitcoin presents a challenge because the number that needs to be guessed is always changing. Sometimes, it’s really simple to guess, and other times, it’s very challenging. It’s like the number is always moving up and down, kind of like the stock market.

Did you know bitcoins are created from a number guessing game played by a group of players? Rommel Vergara dives into how #bitcoin started here #FromtheLabs https://t.co/rXvwV1fsCd pic.twitter.com/cuHjYBWXSv

— IR (@We_Are_IR_) March 30, 2018

Continuing to guess the number between 1 and 100, explain to your children that if they correctly predict the number, you’ll award them with 1 BTC as a gift. And if 1 BTC’s worth increases the next day, they will have…