How best can you explain bitcoin?

[Ahmedo24]

The word bitcoin if not the most searched words in the year 2020 to 2021 then it will be amongst the first ten top words searched on Google. This means it not really a new word for most internet users but certainly not very many people that has hear about it really knows what bitcoin is let alone understanding the concept of making money from it investment or trading.
If you find yourself in the midst of people who desired to know more about bitcoin and the opportunities arround it how best can you simply explain it gradually to them such that they will be motivated to start Investing into bitcoin.

 

[Peppul]

Well first you let them know that as a new user, they can get started with bitcoin without understanding the technical details, once they have installed a bitcoin wallet on their computer or mobile phone, it will generate their first bitcoin address and they can create more whenever they need one. They can disclose their bitcoin address to their friends so that they can pay you on it or vice versa. Infact you let them know it's similar to how email works, except that bitcoin addresses should be used only once. Also you can also tell them that they can also trade on bitcoin which will bring them profits gradually that way they don't need to stress too much to earn.

 

[Ahmedo24]

Well first you let them know that as a new user, they can get started with bitcoin without understanding the technical details, once they have installed a bitcoin wallet on their computer or mobile phone, it will generate their first bitcoin address and they can create more whenever they need one. They can disclose their bitcoin address to their friends so that they can pay you on it or vice versa. Infact you let them know it's similar to how email works, except that bitcoin addresses should be used only once. Also you can also tell them that they can also trade on bitcoin which will bring them profits gradually that way they don't need to stress too much to earn.

That's very nice one from you , added to your point ,I think while telling them that they can disclose their wallet address to people for the purpose of recieving coins , they should not that they can send transaction hash to recipient whenever they send coin to the person to confirm the transaction progress but they should not disclosed their recovery phrase to any body like wise their password and they should be keep their password as safe as they can because lost of passport can lead to loss of funds in the wallet permanently. Also not all bitcoin wallet generate multiple address.