To explain bitcoin to children is let us introduce first about bitcoin the advantages and benefits of bitcoin. Because i believe if they have some knowledge they have already idea on bitcoin. To explain children we should give more time and patience. We try to talk regularly and so they understand well what is bitcoin. Explain to them that bitcoin is a digital currency and good in investment, and tell them that bitcoin is computer money its like real money.
Children will not understand us because it will become complicated for them to understand what is bitcoin and what are the things that bitcoin had because it is online and if they are young type of children then they will not understand how to use it because they are not yet so exposed in different technologies.
A teenager would be very easy to understand it because the only thing you need to do is tell them they can save for their future with this or pay their college fees with this and they would be ready to learn everything about bitcoin.