Some of the most important misunderstandings about cryptocurrency involve the belief that cryptocurrencies are too advanced or technical to be understood or dealt with by anyone other than young, technology-savvy people.

This feeling and belief may be especially strong among older adults, who may feel that they “missed the boat” in learning about the newest ways of handling money. But nothing could be further from the truth. In reality, cryptocurrency is for everyone, and it’s never too late to learn, especially with more and more user-friendly tools and educational resources available.

Crypto’s getting easier all the time. It’s fair to say that when Bitcoin launched back in 2009, buying, selling, and storing it required quite a degree of technical fiddling. Early adopters had to wrestle with complex command lines and obscure software, giving it a sort of programmer-ish feel. But in popularization, crypto has made an effort to be more mainstream-friendly. Today, buying crypto can be as easy as using a mobile application. No coding is required at all!

For instance, the exchange Coinbase, the crypto-wallet Trust Wallet -all have easy, intuitive interfaces and provide step-by-step instructions on how to use them. Many are about as user-friendly as any traditional banking app or online shopping website. And if you’re looking to get started, Coinoteo’s learning sections break down these tools and platforms in easy-to-follow guides.

It’s not too late

Another notion that you’re “too late” to get into cryptocurrency is just another myth that needs debunking. Sure, this was volatile, but the crypto market was still relatively early days. Major institutions are still just beginning to invest in and adopt blockchain technology, which very much means this is still early days for digital assets. Whether you are 25 or 65 years old, learning ABCs of crypto may set you ahead of the pack, as digital currencies are increasingly integrated into the mainstream view of finance.

Take this opportunity to be a part of the changing face of finance. Seniors nowadays are into digital wallets, apps, and even venturing into cryptocurrencies as a form of retirement. If you do online banking or shop on Amazon today, you are more than capable of learning how crypto works.

Easier than you think

A lot of people think cryptocurrency is just too much jargon or technical complexity. The way terms like blockchain and smart contracts might sound imposing at first, the basics of crypto really aren’t that different than those for traditional finance. Just like how in the operations of any credit card network, one doesn’t have to know every nitty-gritty detail within, to use a Visa card. Similarly, investing in and using cryptocurrency can be such that you simply just don’t need to be a kind of blockchain expert. All it takes is the will to learn the basic principles, which are already extensively available with so many beginner-friendly resources.

Crypto is not for young, tech-savvy people only

Perhaps the most profound myth surrounding cryptocurrency is that it is meant only for the young and tech-savvy. It’s not hard to understand why: Bitcoin and other cryptocurrencies originally captured headlines for being taken up by tech-savvy enthusiasts, early adopters, and even college kids looking to “strike it rich.” But in reality, crypto is for anyone, regardless of age or technical proficiency. As a matter of fact, older individuals can benefit just as much-if not more so-from learning about and working with digital currencies.

Seniors are already working with digital tools: A lot of seniors maybe are not aware that they are already working with digital financial tools. Think about the every-day applications that people use from online banking to PayPal or Venmo. Those are all digital systems for the transference of money. The leap from using Venmo to using Bitcoin or Ethereum isn’t quite as huge it seems.

Many seniors, however, are also wading into cryptocurrency as one more means of diversifying their retirement investments. Financial experts have even begun to suggest small allocations of crypto in portfolios for hedging against inflation or in a quest to increase long-term growth potential. Digital currencies do not appeal only to a mainstream audience of younger investors.

Real-world examples of older crypto users

There are many examples of older adults having outsmarted this crypto world. For example, Bill Miller in his 70s is an experienced investor who recently has placed heavy bets on Bitcoin, using it as part of a diversified investment strategy. Seniors interested in crypto can take comfort in knowing they are not alone. There are quite a number of people in their 60s, 70s, and even beyond who invest valuable time into the study and investment of cryptocurrencies.

But as names like Fidelity and Vanguard-once synonymous with traditional financial investment-continue to venture deeper into crypto, it becomes clear: Digital currency is no longer some esoteric product meant for tech enthusiasts; it is mainstreaming into the broad financial platform, and putting seniors right at the wheel of that transition.

Financial education’s role

But the key to overcoming this fear of crypto being “too advanced” is simply education. They can learn the basic concepts about cryptocurrency, too. The tools and platforms today-like Coinbase, Trust Wallet, or Crypto IRAs-are made to be simple: user-friendly interfaces, clear instructions, and so on and so forth.

The basics are easier than you think

It might sound technical, but cryptocurrency isn’t as tricky once you grasp the basic elements of what it is. Most crypto functions are analogous to things people currently do. Transferring money online, for example, is done through apps like PayPal.

Simplifying key terms

The blockchain is a record book that is used to keep track of all the transactions safely. The key difference from the ledger inside a bank ledger would be that it is decentralized, with no single institution controlling it.

Crypto wallets securely store your assets. Hot wallets are those online, easily accessible wallets, while cold wallets remain offline for added security, especially when holding long-term.

Easy steps to buy your first crypto

Thanks to beginner-friendly platforms, buying cryptocurrency couldn’t get easier than nowadays. You will be able to buy Bitcoin or Ethereum in as easy of a way as online shopping, since the platform would take you step by step through a purchase.

Here’s how you can get started:

1. Register yourself on any crypto exchange site: Websites like CEX.IO, Gate.io, and KuCoin allow you to easily create an account with just email and ID verification. Their interfaces are pretty user-friendly; they have a variety of different payment options and decent security.

2. You can buy a small amount: Most of these exchanges will give you an opportunity to purchase $5 or $10 of Bitcoin or Ethereum.

3. funnel your money into a wallet: If you want extra security, you’ll have to transfer your crypto into a wallet. That’s easy, just copy your wallet address and transfer the funds.

Beginner tools at your fingertips

There’s so much support for crypto, that it’s even easy for a complete beginner to get into. Many exchanges have tutorials, and there are even mobile apps to help in the management of your crypto even on the go. This technology is built for consumers, not technical experts. The user experience is one of the most intuitive and user-friendly out there.

You can try finding more on Coinoteo Exchanges.

This article was aided in writing by AI and edited and reviewed by our editor.