All things crypto

You’ll need

Pens or pencils
A4 paper

Quiz All Things Crypto

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Scenarios All Things Crypto (1)

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Before you begin

Use the safety checklist to help you plan and risk assess your activity. There's also more guidance to help you carry out your risk assessment, including examples.
Make sure all young people and adults involved in the activity know how to take part safely.
Make sure you have enough adult helpers. You may need some parents and carers to help.

Planning and setting up this activity

Mark two places in the space, one to represent ‘true’ and the other to represent ‘false’.

Aim of the activity

The aim of this game is to introduce the concept of cryptocurrency and how it works, exploring both the positives and negatives of using it.

Running this activity

True or false?

Explain that you’ll read out different statements about cryptocurrency.
Everyone must decide if the statement is true or false, then move to the correct area of the space.
After everyone has chosen their side, reveal the answer. You can also provide a brief explanation.
You may want to ask people why they chose the answer they did.

Discussing crypto

Now, get into groups, and give each group a piece of paper and a pen.
Ask the groups to write down as many positives and negatives of cryptocurrency as they can. For example:
- Positives: Example answers could include: Fast, easy to send money across the world, secure (because of blockchain), can be an investment opportunity, not controlled by governments, lower or no international transfer fees.
- Negatives: Very risky to invest in, value can go up and down quickly, some people use it for illegal activities, there’s no insurance if you lose your wallet or your money gets stolen.
After their discussion, ask each group to share one positive and one negative aspect of cryptocurrency with the larger group.
Now that they’ve had a chance to learn about cryptocurrency, it’s time to try some real-life scenarios. Read out each scenario, or act it out if you want to, then discuss each one as a group.

Reflection

What did you learn about the risks of using cryptocurrency? It’s important to understand that cryptocurrency can be very volatile, meaning its value can change rapidly and unpredictably. This makes investing in it risky, as you could lose a lot of money quickly.

Considering this, how might cryptocurrency affect the way we use money in the future? It has the potential to change how we send and receive money by making transactions faster and cheaper, without relying on banks. However, its unpredictable nature also raises questions about stability and security. Given these factors, do you think cryptocurrency is a good or bad idea to invest in? Do the potential rewards outweigh the risks, or vice versa?

Safety

All activities must be safely managed. You must complete a thorough risk assessment and take appropriate steps to reduce risk. Use the safety checklist to help you plan and risk assess your activity. Always get approval for the activity, and have suitable supervision and an InTouch process.

You must run your activities in line with the Safeguarding Code of Conduct for Adults (Yellow Card) and report any concerns to the UK HQ Safeguarding Team.

Active games: The game area should be free of hazards. Explain the rules of the game clearly and have a clear way to communicate that the game must stop when needed. Take a look at our guidance on running active games safely.
Outdoor activities: You must have permission to use the location. Always check the weather forecast, and inform parents and carers of any change in venue.

Make it accessible

All Scout activities should be inclusive and accessible.