My Retired Uncle's Gratuity Invested on Bitcoin
The IntroductionI see it a great opportunity for me to make impact in bringing people to know and understand the benefits of bitcoin from fiat and I'd thought about how to get started not until i realize the need to begin with my household, i know the benefits and risk involved in bitcoin investment just with my little experience in it, last weekend was my Uncle's retirement party as a Civil Servant retired from the Federal Civil Service Commission (FCSC), then i remember i could engage on a conversation with him considering our level of relationship and his trust in me.
My First StepI went straight to him after the whole events when calmness was restored in his privacy, that i have a question i will like to ask him but shouldn't take it an insult on his personality because I'd never take my relationship with him for granted, and i asked sir, what is your plan and next move after your retirement? he looked at me and sighed with a deep thought nodding his head, he said nothing until after about 20 seconds before he responded and said "I don't even know what's good for me right now cousin!" but all i know is that I've been given my gratuity fund the government could have hold down against me.
His PlanHe further explained to me that his only plan with his gratuity is to save it up in the bank on a fix deposit and when his pension arrives, they will be adding an incentive from the fix deposit to his monthly pension and he will be using them all together for his basic daily needs, then here comes my opinion as an advice for him and he admitted i should go ahead, i told him i have three basic plans i would like him to take from me over his retirement, i advised he should divide his gratuity fund into three segments, and then i will expose him to how he will be making a good return instead of spending from it.
My AdviseI asked him to invest 30% of his gratuity fund into agricultural farming business since we are in the raining season, planting of arable cash crops like vegetables could be a good business with high demands, another 30% into starting a roadside Snack Bar, while the last advise was to make an investment with the 40% left in Bitcoin, then i begin to discuss with him about bitcoin and how he can invest in it instead of having his gratuity with bank, i took time to explain to him many reasons why he needs to invest in bitcoin, i went through some search on the forum for related topics about bitcoin, and i clarified him the differences bitcoin has from other cryptocurrencies.
I used my experience as well in explaining to him and gave him some online materials to read about bitcoin investment, he finally agreed, come into symphony with me and asked me to give him some time to think about it, but to my greatest surprise he called me the third day to say all my ideas were all accepted, that he related everything we discussed with a family friend after his second thoughts over it and all the outcome he concluded about it was a good and welcome idea, he told me he has heard about bitcoin before now but don't know anything regarding it, sometimes he sees the billboard or handbills on bitcoin and heard news about bitcoin, but all that never draw his interest in knowing better about it nor give a try, then i explained to him about bitcoin, how to acquire it, differences between centralized and decentralized exchanges, bitcoin price speculation, what volatility means, advantage of digital currency (bitcoin) over fiat or CBDC, and introduced him to bitcointalk.org forum to know more about bitcoin from the community.
I also explained the types of wallets and recommended electrum wallet for him and asked him to safeguard his keys away from everyone including me, right now he has invested in bitcoin taking the current advantage of the dip in bitcoin price and set in with the exact 40% from his gratuity fund while other project plans where in progress just as advised.
My MotivationThere's a slogan that says charity begins at home, if you're thinking about seing bitcoin adoption a global responsibility then it begins with you right from where you are.