I got into Bitcoin as a college student though I am not involved in earning yet but I have a lot of interest in Bitcoin and I am planning to hold Bitcoin. My father is a Malaysian expatriate. He receives a salary of $500 per month and sends $400 per month to support my family. I collect all the money from my father's salary and spend it for family support. Recently I have made a plan to invest a certain part of my father's salary remittance in Bitcoin but in this case I don't understand whether it should be invested in Bitcoin. I paid attention to invest in bitcoin seeing the popularity and future importance of bitcoin but my father and mother from my family have no knowledge of bitcoin so they keep persuading me to invest in bitcoin.
My parents thought that bitcoins that cannot be seen or touched cannot be an asset. They think that investing in physical assets such as gold, bank deposits, land etc. is more profitable than Bitcoin. But even after I convinced them, they are not ready to invest in Bitcoin. They don't want to believe in virtual currency.
Right now I want your important advice on how to convince them.
First of all you need to understand that you could lose your investment, is your family ok with that? And I'm not talking only about bitcoin but everything. If they understand that, then the first step is done. And regarding the types of investments you're mentioning: bitcoin of course is the riskier one but at the same time is the one with higher probabilities of a great return; gold I feel like is for people who already have a lot of money and want to diversify, also because you won't make a lot of money investing few thousand dollars in gold; I would avoid bank deposits because they are the ones making money thanks to you. Interesting option is land, but know must know your local market.