Outrage after 3 months of trying to set up everything
So I was telling my mom that it could be a good idea to invest a bit into Crypto = Bitcoin. What I didn't know is how much work it was going to be and that I would ultimately fail at this mission. What a mess!
If you have ever helped older people navigating the interwebs, it soon becomes clear that this can be very challenging. Not even speaking of traversing the cryptospace! My mom is in pretty good shape when it comes to handling this stuff (obviously at a basic level), so I thought we could give it a try. The only chance I had to begin with was finding a remote session application to walk her through and luckily it all worked quite well. But we soon stumbled on unsolvable problems. And no, it wasn't verification. Although arduous, it somehow worked. the real problems started when trying to make a fiat deposit.
Her bank flagged the transaction as a potential phishing attack... It took some calls to get it sorted out, only to find out that the crypto broker would not accept the deposits. We asked customer support. And surprise, surprise, they couldn't tell us what the issue was and recommended starting with small amounts (on hindsight I am guessing they knew, but didn't want to tell us). However, this did not work at all. The problem had to be somewhere else...
We tried a different bank and while the first small deposit went through, the second got immediately flagged as well. I suppose the crypto broker flagged the entire account as high risk at that moment and attempting more wire transfers from another bank got immediately rejected. Too bad... So, next attempt: a different broker.
The broker we chose this time is well known and a top 10 exchange. Verification was a breeze (surprisingly!). And we just had to connect the account with a phone number... Easy, right? No! When we entered it we got a super fast message on the screen telling us that "people over the age of 65 are not allowed to open accounts".
Ups, sorry, you are too old to buy Bitcoin! Better luck next life!
I couldn't believe it, honestly. This would probably explain why the banks and the broker flagged her account as "high risk" on the first try. Old people can't handle their money - or perhaps more accurately: they aren't allowed to do so and this, of course, is also in their best interests. I can only relate how my mother felt, but not being able to (or not being allowed to) use one's own money feels absolutely awful. It is discrimination and age discrimination it turns out is a real thing.
Conclusion
You better get your affairs in order before getting too old (lol). The crazy part for me is that 65 isn't even old. People still work at that age... But what it really shows is that the system got us by the balls. And the grip is getting tighter every day. The system is becoming an abomination and in places with an overreaching government it is only going to get worse. Fight for your freedoms and sovereignty!
Check out the Love The Clouds Community if you share the love for clouds!