Coinfloor Is Onboarding Baby Boomers To Bitcoin – Bitcoin Magazine

Bitcoin Magazine

Coinfloor, the U.K.’s longest-running bitcoin exchange, is working to convert a decidedly non-digital audience into the latest batch of hardcore HODLers: Boomers.

The exchange is capitalizing on what it sees as a growing trend among this generation, which may be just as disheartened by the rampant stimulus action from the world’s ingrained economies as younger people.

How To Get Free Crypto  

“Baby Boomers now make up more than a fifth of all people who hold bitcoin,” the exchange noted in a release shared with Bitcoin Magazine. “Many have turned to bitcoin in frustration over record low interest rates, stock market volatility and the fear of inflation that must follow the massive quantitative easing programs of recent times — all of which threaten to erode their hard-earned savings.”

In addition to this growing bullish trend in Boomers, Coinfloor noted that those over 65 years old hold more than a third of household wealth in the U.K., making them a particularly attractive consumer base for the exchange. To draw in some of this disposable income, Coinfloor has doubled down on features that it believes will appeal to Baby Boomers, including an autobuy service, educational content and a customer support team “reflecting Baby Boomers’ preference for human interaction over self-service/chat support.”

Coinfloor also shared a customer testimonial from a 60-something retired teacher, Angela Ilievski of Bournemouth, England, who highlighted the appeals of bitcoin investing for someone of her generation.

“This April, [I] began to feel that now was the time to save in crypto rather than invest in cash … a reversal of perspective brought about by a combination of factors, including zero percent interest rates/negative interest rates imminent; the examples of Cyprus, Greece, India and the Lebanon ‘bail-in’ seizure of bank deposits/limits on cash withdrawals and transfers; [and] the (equally scary) prospects of either staglflation or deflation on the horizon,” Ilievski said, per the testimonial. “The coincidence of the latest Bitcoin halving at the same time as the Fed was accelerating money printing to address liquidity issues in the market (triggered, not caused, by Covid) was a powerful metaphor for me. This was a kind of ‘lightbulb moment’: the realization that bitcoin was becoming ‘hard’ money whereas fiat currency was being ‘softened’ by incessant money printing.”

Coinbase Banner  
See Also

Of course, there is a significant difference between convincing Boomers to autobuy bitcoin on an exchange and seeing them manage their own private keys, run their own nodes or engage in the otherwise technologically-intimidating best practices for Bitcoin custody and sovereignty. 

But, as the old saying goes, you’ve got to start somewhere.

Go to Source
Author: Peter Chawaga


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.