CRYPTO FOR SENIORS

 Crypto scams targeting older adults are on the rise, with the FBI reporting that over 12,000 individuals aged 60 and older cited crypto as the medium used in scams, and investment scams alone cost seniors more than $1.2 billion in losses during 2023 (fbi.gov). Another alarming trend is the “pig butchering” scam—where scammers groom victims through fake relationships or investment platforms before stealing their crypto savings—a scheme that accounted for over 33 % of crypto fraud and has surged nearly 40 % year-over-year (en.wikipedia.org).
 

Common types of crypto scams include:

• Investment Scams: Fraudsters promise high returns with little risk, often convincing victims to move funds into fake crypto “platforms.”
   
• Romance/Pig Butchering Scams: Scammers build fake online relationships, then slowly persuade victims to invest in fraudulent crypto projects.
   
• Phishing Attacks: Fake emails, websites, or text messages trick users into revealing private keys, passwords, or wallet details.
   
• Impersonation Scams: Criminals pose as government officials, celebrities, or trusted financial advisors to solicit crypto payments.
   
• Giveaway & Airdrop Scams: Fraudulent promotions claim users can receive free crypto if they first send a “small” payment—money that is never returned.
   
• Rug Pulls & Fake Tokens: Scammers create new cryptocurrencies or DeFi projects, attract investors, then suddenly disappear with the funds.

Crypto mining in 2025 may still offer some upside—but only under specific conditions. A single high-performance ASIC rig could net around $300–$500 per month, though reaching “living-off-mining” status typically requires multiple machines, low-cost electricity, and efficient operations (sazmining.com). 

The global mining landscape is becoming more competitive, driven by a rising hash rate that rewards economies of scale and advanced equipment (bitdeer.com). For most individuals, mining remains viable only if electricity costs are exceptionally low or access to renewable energy is available (reddit.com). 

Moreover, environmental and regulatory pressures are mounting—Bitcoin’s energy consumption continues to far exceed that of many countries, and sustainability concerns increasingly influence the sector’s future (fnlondon.com).

Key Factors to Consider Before Mining in 2025:

• Electricity Costs: Profits shrink quickly without cheap or renewable energy sources.
   
• Hardware Investment: ASIC miners are essential; GPUs are now mostly unprofitable for Bitcoin or altcoins.
   
• Cooling & Maintenance: Mining rigs generate significant heat and require continuous upkeep.
   
• Market Volatility: Profitability depends heavily on Bitcoin’s price and block rewards.
   
• Regulations: Local laws on energy use and taxation may impact operations.
   
• Alternative Options: Staking or investing in mining stocks may provide exposure with fewer risks.
  
  Senior Network offers 1-on-1 crypto consultation to help you decide whether mining, staking, or other crypto strategies best fit your retirement and financial goals.