Seeing the milestones of my child every day brings an unending joy to me. I cannot grasp enough how did I able to give life to a little version of myself being a smart kid.
“Mom, gimme 10 (10 PHP or $0.21). Time to feed piggy bank now, she's hungry ”. Rayleigh asserted like 3 years old. I used to give her 5 pesos or $0.10 when she was a toddler, now that she's already 5 years old I increased it to 10.
Since she was a toddler (Exactly 2 and a half years old), I already teach her how to save money. At that early time, I told her to feed the piggy because it was hungry. The only food that piggy accept is “money”, I teach her to treat the piggy bank as one of her toys or a nonliving pet, that needs to be fed every day to avoid being hungry. A toddler does not understand yet why she needs to save money, so I explained it that way so she will enjoy feeding the piggy bank with the thought that it was really hungry.
“Do you know, it's not like she's hungry right?” I asked.
“Yes, of course, because she's not alive at all”.
“Exactly, then why do you bother feeding her money?”
“Mom, to save up money”
“Why would you save money?”
“I save money so I can buy something that I like soon or used it to buy my school supplies when I am about to go to school” She replied.
“That's great, where did you learn that?”
“Duh, from the youtube videos I watched .” Kids nowadays are Youtube kids, they learned a lot of things from the educational content they watched. That's cool because I don't have to explain further myself the reasons why she needs to save as she saw it in Youtube videos already. (But also needs proper guidance in using gadgets and surfing net for their health and safety).
Upon thinking that the kid is tech-savvy at her young age, an idea to introduce Bitcoin Cash to her came in.
“Hey, do you know that there's a smart way of saving money by only using your mobile phone?” I told her excitedly.
“Really mom? How?” She asked with enthusiasm.
“Yes! You just have to download an online wallet app that allows you to buy Cryptocurrency”
“Cryptocurrency? What is that mom? Why do I have to buy when we are talking about savings?” She asked she's very clever lol. Oh my gosh, I have to explain first to her what cryptocurrency is.
“Cryptocurrency is a digital currency that is secured by cryptography. It is a decentralized networks based on blockchain technology that is distributed through ledger enforced by network of computers. Which means it doesn't involve a middle man which are banks or any government entities. We will buy the crypto coin to make it as your savings” I replied.
“Okay, mom, I will try to understand later about cryptocurrency, but what crypto coin are we going to buy?” She asked with curiosity.
“We will buy Bitcoin Cash (BCH) my favorite coin” I replied.
“Your favorite coin? Does cryptocurrency have many coins? What is Bitcoin Cash?”
“Yes, there are thousands of coins that are running on cryptocurrency, and Bitcoin Cash is my favorite because of its promising future and real-time utility case not a shitcoin.”
“Utility case? What is that? So it means when I save it, it will give me a promising future?”
“Very clever question, utility case is when you are utilizing the coin. Bitcoin Cash utility case is an electronic payment channel. You can buy goods and services using Bitcoin Cash if an available merchant is accepting it. Because of that Bitcoin Cash's future is promising because there are already a lot of merchants all around the world accepting it.”
“Wow! That's cool. So Bitcoin Cash can be used all around the world?”
“Yes! Wherever you are in the world, you can send and receive Bitcoin Cash as long as you have an online wallet that has the Bitcoin Cash address”.
“Is that what you are saying that we need to download? What application is that Mom?”
“Well, luckily our country has a wallet exchanger like Coins. Ph that ables you to buy crypto coins or Gcash that can be used to pay on Peer to peer trading in like Binance exchanger where you can buy a stable coin that will be used to buy crypto coin”.
“Okay, mom, how to download that?”
“We will just download it on the play store since we are using an Android phone, like how you download your Talking Tom and friends game”
“Wow! That's cool and easy! Let's download it now mommy ” she giggles excitedly.
“There is even cooler than that when you save up on the piggy bank the amount of your money is not increasing when you save up using Bitcoin Cash there is a chance that your money will increase higher than the bank's given interest”.
“Really mom? How is that possible?”
“Bitcoin Cash is subject to volatility, which means the price will increase or decrease from time to time”.
“Wow! That's nice mom my money will grow if I save that Bitcoin Cash”
“Yes, you can also share money with anyone around the world or with your cousins and Auntie using Bitcoin Cash.”
“Really Mom? That's cool.”
“Yes, you can use it for payment for example you want to buy Ice Cream if the ice cream vendor accepts Bitcoin Cash you can pay him BCH like cash or if you want to give money to your cousin for example Angelina (elder cousin) as she is having foot surgery, you can share some of your savings to her to help her with the billings of her surgery as long as she also have BCH wallet address like you, you don't need to go to any remittances or bank transfer that will make transactions hassle and expensive fees.”
“Hmm, that sounds great mom. Does BCH arrive quickly once we send it?”
“Yes! BCH has fast transactions and costs you only $0.01 fees upon sending, unlike any remittances or banks. BCH block time waiting time is only 10 minutes but sometimes will arrive only seconds after confirmation especially if you are using Bitcoin.com wallet, sometimes it will take time when you are sending it on wallet exchanger due to blockchain traffic but it is way faster than the other coin. BCH is peer-to-peer electronic cash, where you can send it anytime and anywhere.”
“Hmm, that's the pretty cool mom I can use it as a double purpose like savings and real digital cash” She answered cleverly. I wonder why she's that clever lol.
“Exactly! That's how amazing Bitcoin Cash is, it does not only reside on its whitepaper but rather usable in our daily lives.”
“Is it safe mom? Like nobody can steal it? Is my savings safe?”
“Yes! Bitcoin Cash is a cryptocurrency as I said earlier which means, nobody can access it except you. No middle man like banks or any institutions because it is decentralized.”
“So you mean, I can only access it? What if my cellphone is lost, mom?”
“Well, there are many types of wallets, to begin with, that is according to its security. There are non-custodial and custodial wallets.”
“What are those mom?”
“Noncustodial means, you have the keys. It is the 12 secret code or seed phrase that you are going to keep, so if ever you lost your gadgets you can still access your wallet. While custodial it is under the exchanger, you don't have the keys. Always remember in crypto, not your keys, not your money.”
“Oh, I see so we should download the noncustodial wallet now mom, I am excited to try it”
“Oh, wait... I remember you are still minor the wallet that is available in our country needs verification since you don't have any government ID yet, you cannot buy and sell crypto in there.”
“Nahh, that's sad mom 😭 I wanna try the online savings with BCH.”
“Don't worry, let's just download Bitcoin.com and create your own wallet there, I will just use my account to send your BCH in Bitcoin.com wallet for you to start saving up, is that okay now?”
“Really! Yehey! Thanks, mom!”
“Good! I'll let you save your BCH so you will be part of Club1BCH soon.”
“Club1BCH? What is that mom?”
“It's a virtual club founded by my colleagues and me, we aim to hold or save at least 1 BCH by supporting and motivating each other to achieve the goal.”
“Wow! You are a cool mom! I wanted to be part of it.”
“Yes, sure! We💚BCH!”
My child talks like an adult, she's very advanced and clever which I am proud of.
This is just an imaginary concept of explaining BCH to a noob like five years old, my child is still a toddler but some part of the story is real which is I teach her how to save money and has her piggy bank where she feeds every day. If she's five years old soon, I will make this imaginary materialize. I wanted to educate my child about the opportunity that lies in cryptocurrency and Bitcoin Cash. I know she will understand it as she is a smart kid. I am planning to slaughter our piggy bank and buy BCH instead.
I can't imagine having that kind of convo with a kid- I've been teaching a 12 year old but it's still a head ache to translate crypto terms into ones she would understand