I explained it to my parents by comparing it to trading between physical currencies. I just made it simple and said there are many different cryptocurrencies each with their own algorithms that and economies much like the physical currency of a country. For the most part each country has their own currency and way of distributing that currency.
RE: Try to explain anything about cryptocurrencies to your parents/grandparents
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Try to explain anything about cryptocurrencies to your parents/grandparents