frens, the time finally came. My dad asked me about earning passive income with crypto today. After a bit of explaining and demonstrating, he decided he wanted to try out DeFi.
Teaching Dad how to DeFi
I've been into crypto since 2015 and my dad has always been interested. He helped me build my mining rig set up back then. He didn't really understand what it was or how it was going to make money. After I explained that I was going to be earning Bitcoin for running mining rigs and showing how that worked, he started to understand. He's in his 60's but he has been working on computers his whole life. Doing repairs, building computers, and generally being the IT guy for the family when I wasn't around. I learned everything from him and being able to teach him something new was pretty damn cool. Fast forward to this morning - we were drinking coffee together and I was listening to the LeoFinance AMA. He was asking me all kinds of questions as he was hearing the guys talk about PolyCUB and such. It was really cool that he was even interested. Now, my dad is not a complete noob when it comes to crypto. He has a coinbase account and has been buying $5 worth of random cryptos for a while now, and he even did the coinbase Earn quizzes to earn some free crypto. He even mines TLM on Alien Worlds every day.
I decided to start with showing him Cub Finance so he could start earning 45% APY and qualify for the PolyCUB airdrop. He already had about $100 worth of Algorand ALGO on coinbase earning 4.5% APY (minus coinbase's 2.5% fee of course) so he wanted to move that over to the CUB Kingdom. We set him up a Metamask wallet and added BSC to it. Of course I had him write down his recovery phrase (he writes literally everything down anyway). After showing him how to use Changelly, we used it to swap his ALGO for BNB on Binance Smart Chain. I chose this route because it was the simplest way for me to show him. Once we had BNB in his Metamask wallet, we headed over to PancakeSwap to get some CUB. I let him "drive" the whole time and he pretty much got it right away once we got past the swapping. His first question was "Do I need to put money on coinbase first to do this? or is there an easier way?"
In the US, getting BNB is not easy. I showed him Ramp.network so he could buy BNB on BSC with his debit card. Easy peasy. He learned about transaction fees on BSC and how he needs to keep a little bit of BNB in the wallet as well. After getting CUB on PancakeSwap, I took him to Cub Finance and showed him the Kingdom. He approved the contract and staked his CUB. He ended up with about 335 CUB staked in the kingdom and was super excited to start earning 45% APY. Then I told him about the PolyCUB airdrop and he couldn't believe that he would get free money for having CUB staked. Now he wants to add more to it every 2 weeks. Next I'm going to show him yield farming since he asked what liquidity providing was.
I think it's important that we educate our families on crypto and DeFi. Not everyone is going to want to learn, though, but the ones that do need to be shown. We are the experts in their eyes. That was a great experience, and I was overly excited when he wanted to get started. I'll never forget it and I'm sure he won't either.
Thanks for reading! Much love.
Links 'n Shit
| Play to Earn | Get paid to Search | Get free crypto every day | Get a WAX wallet |
|---|---|---|---|
| Gods Unchained | Presearch | PipeFlare | WAX.io |
| Splinterlands | GoodDollar | ||
| Rising Star |
