Altcoin is good. It’s hard to persuade parents to invest in it. - page 7.

john_nautica

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Quote from: flyeers309 on July 08, 2021, 10:26:52 PM

Quote from: LittlePrinceCat on April 27, 2021, 11:56:42 AM

Crypto is not popular in my homeland. People in my homeland love to invest stocks and bonds. And real estate is the most popular investment. Only few people invest in crypto. My dad loves to invest in stocks but he seldom has a positive net income from the stock market. It’s the fact that crypto is a better tool to earn money, especially for the Altcoin. Then., I try to persuade my dad to invest in Eth and BNB. They’re worth to invest. Take myself as a good example, I spent the weekly pocket money on my first Eth two years ago and earn more than 10X of money. It seems that Eth is still going up in the future. It’s a good investment during this economic recession period. I tried my very best to persuade my dad to buy Altcoin like Eth and BNB but he thought that crypto was very risky and unreliable at all. Investing in crypto is the best way to earn money in this economic recession. It means that my family loses the chance to become rich since my dad does not invest in crypto.
It’s hard to persuade those middle-aged people to invest in crypto. Do you think so?

I just wanted to tell you that money is a sensitive thing for everyone and also where they will invest. My mindset "invest in something you understand", when you don't understand and have no confidence then don't do it. This may also experienced by your dad, don't force someone to invest in a platform that they don't understand where their assets will go.

That is a good principle in investing, to invest in something that you fully understand. Any investment entail risk, and cryptocurrency is among of those with high risks due to its volatile nature. It is understandable as well that older generation are not that fond of crypto unlike with younger generation as it is also closely related in understanding with the utilization of technologies.

flyeers309

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Quote from: LittlePrinceCat on April 27, 2021, 11:56:42 AM

Crypto is not popular in my homeland. People in my homeland love to invest stocks and bonds. And real estate is the most popular investment. Only few people invest in crypto. My dad loves to invest in stocks but he seldom has a positive net income from the stock market. It’s the fact that crypto is a better tool to earn money, especially for the Altcoin. Then., I try to persuade my dad to invest in Eth and BNB. They’re worth to invest. Take myself as a good example, I spent the weekly pocket money on my first Eth two years ago and earn more than 10X of money. It seems that Eth is still going up in the future. It’s a good investment during this economic recession period. I tried my very best to persuade my dad to buy Altcoin like Eth and BNB but he thought that crypto was very risky and unreliable at all. Investing in crypto is the best way to earn money in this economic recession. It means that my family loses the chance to become rich since my dad does not invest in crypto.
It’s hard to persuade those middle-aged people to invest in crypto. Do you think so?

I just wanted to tell you that money is a sensitive thing for everyone and also where they will invest. My mindset "invest in something you understand", when you don't understand and have no confidence then don't do it. This may also experienced by your dad, don't force someone to invest in a platform that they don't understand where their assets will go.

Kiley33

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Although everyone likes to make money and invest, the field you choose to invest in is what you know.
If investing in a field you are not familiar with is too risky and they will not invest, you can first let them understand cryptocurrency and understand how technology works. Let them trade with Bitcoin。
When they study, they can focus on high-quality altcoins in the short-term, but if they want to invest in cryptocurrencies in the long-term, they still recommend Bitcoin.

Chato1977

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Quote from: coin-investor on July 08, 2021, 07:59:34 PM

Quote from: LittlePrinceCat on April 27, 2021, 11:56:42 AM

Crypto is not popular in my homeland. People in my homeland love to invest stocks and bonds. And real estate is the most popular investment. Only few people invest in crypto.

You cannot blame them the Cryptocurrency market has a high risk and the market is very volatile, you cannot blame our old folks for investing in real estate and stocks and bonds that will not yield them big profit but a steady flow of income, those who can afford to invest in Cryptocurrency are those ready to take the risk and understand the market situation.

And they have small knowledge about the technology since they live in actual or physical life for all their time.

but if we will show them the benefits in actual attitude then they may consider also investing in this market.

and besides there is no rush , let them be eventually .

coin-investor

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Quote from: LittlePrinceCat on April 27, 2021, 11:56:42 AM

Crypto is not popular in my homeland. People in my homeland love to invest stocks and bonds. And real estate is the most popular investment. Only few people invest in crypto.

You cannot blame them the Cryptocurrency market has a high risk and the market is very volatile, you cannot blame our old folks for investing in real estate and stocks and bonds that will not yield them big profit but a steady flow of income, those who can afford to invest in Cryptocurrency are those ready to take the risk and understand the market situation.

Ureung jameun

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not everyone is difficult to persuade a family to take part in crypto investing, because every investment will be promised benefits. if we can show you proof of the profit we have made from crypto then family members will definitely be interested in participating in crypto investing. and here your father has already invested in stocks so that it is difficult for him to accept other things such as crypto. because he has studied stocks before crypto. And I'm sure your dad is comfortable with investing in stocks anda bonds.

Cryptonian717

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Quote from: LittlePrinceCat on April 27, 2021, 11:56:42 AM

Crypto is not popular in my homeland. People in my homeland love to invest stocks and bonds. And real estate is the most popular investment. Only few people invest in crypto. My dad loves to invest in stocks but he seldom has a positive net income from the stock market. It’s the fact that crypto is a better tool to earn money, especially for the Altcoin. Then., I try to persuade my dad to invest in Eth and BNB. They’re worth to invest. Take myself as a good example, I spent the weekly pocket money on my first Eth two years ago and earn more than 10X of money. It seems that Eth is still going up in the future. It’s a good investment during this economic recession period. I tried my very best to persuade my dad to buy Altcoin like Eth and BNB but he thought that crypto was very risky and unreliable at all. Investing in crypto is the best way to earn money in this economic recession. It means that my family loses the chance to become rich since my dad does not invest in crypto.
It’s hard to persuade those middle-aged people to invest in crypto. Do you think so?

Ask your parents to do their due diligence and walk them through what a token is, how the project develops based on it etc.

A good place to start would be explaining to them what a private sale is then an ICO/public sale, then what it means for the token to be listed, what dictates the price, and what affects it. The last part is very similar to the stock market, however crypto is less regulated and people still abuse it.

That being said consider diversifying your portfolio. Allow 30% of your total investment to be a backup investment which you spend on upcoming projects (in the ICO phase) but do stay away from meme/hype tokens as the risk is too high.

What i did personally:

Btc - 40%
XRP - 18%
Cardano- 21%
Elrond - 7%
total - 66% in existing tokens

I then split my investment into the following projects
Ethernity CLOUD - 10% - i bought in during the presale - minimum investment was 5,000 USD
Lanceria - 4%

ven7net

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Quote from: LittlePrinceCat on April 27, 2021, 11:56:42 AM

Crypto is not popular in my homeland. People in my homeland love to invest stocks and bonds. And real estate is the most popular investment. Only few people invest in crypto. My dad loves to invest in stocks but he seldom has a positive net income from the stock market. It’s the fact that crypto is a better tool to earn money, especially for the Altcoin. Then., I try to persuade my dad to invest in Eth and BNB. They’re worth to invest. Take myself as a good example, I spent the weekly pocket money on my first Eth two years ago and earn more than 10X of money. It seems that Eth is still going up in the future. It’s a good investment during this economic recession period. I tried my very best to persuade my dad to buy Altcoin like Eth and BNB but he thought that crypto was very risky and unreliable at all. Investing in crypto is the best way to earn money in this economic recession. It means that my family loses the chance to become rich since my dad does not invest in crypto.
It’s hard to persuade those middle-aged people to invest in crypto. Do you think so?

I believe that you do not need to convince anyone to invest in cryptocurrency, as there is another better way. I learned this method when I was working in the network business. And so this method is that you just need to invest in crypto yourself, wait for it to grow, make a profit and just share the result with people. This is the most effective way and very quickly motivates people to invest in cryptocurrencies.

Lantind

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Quote from: Dexion on June 23, 2021, 10:25:21 PM

It is indeed difficult to give advice to those who have already made negative assumptions about cryptocurrencies, especially for those who often get losses rather than gains from crypto, even though if they want to be more patient and learn from the losses they experience, it can be used as a warning not to do so. the same mistake

Yes, but everyone always has different thoughts and different egotism so they tend to defend their own ideas rather than listen to advice from others, so don't waste your time on such people.

Dexion

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Quote from: Lantind on June 23, 2021, 11:02:49 AM

Quote from: ningrum on June 19, 2021, 05:33:08 AM

However, in everything there are positive and negative sides, including cryptocurrencies.
it also depends on how we view things so if we only focus on the negatives, of course it's very unfortunate,
What is clear is that I don't understand what makes them think negatively about cryptocurrencies

What makes them think negatively about cryptocurrencies is only one thing, namely their own selfishness which makes them reluctant to learn about cryptocurrencies as if this cryptocurrency is always wallowing in fraud, even though they themselves have never tried it.

It is indeed difficult to give advice to those who have already made negative assumptions about cryptocurrencies, especially for those who often get losses rather than gains from crypto, even though if they want to be more patient and learn from the losses they experience, it can be used as a warning not to do so. the same mistake

isaac_clarke22

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Quote from: Hypnosis00 on June 19, 2021, 04:46:51 AM

~

Actually not telling other people to make them earn in crypto through investment could be your opportunity to buy more.
Imagine if they bought more than you did and the price took off to the moon and now it is all what you had right now because it is the only thing you invested at.
It might be against adoption, but save yourself first before others.

vabchgent

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Quote from: ampu on June 23, 2021, 03:30:16 AM

Quote from: vabchgent on June 22, 2021, 10:32:21 AM

Quote from: ampu on June 19, 2021, 05:44:51 AM

Investing in altcoins for me is a type of venture capital so the risk of losing money is very obvious. It is difficult for us to convince our parents to invest in this market with large amounts of money because they will not bet their money on such a market. They are not knowledgeable about cryptocurrencies, Bitcoin or altcoins. Another thing is that the volatility of crypto is so large, they probably won't accept that.

I do't know, it's quite the burden to motivate your parents to put money into crypto. Also depends on how rich they are. If they don't care losing a couple thousand bucks, why not. But if every penny counts for them I would be very careful. Sometimes missing out on profit is better than losing real money.

Convincing them to invest your way would rather I borrow money to invest. At least I will be responsible for my own investment without messing with other people's money. It's all just a loan with no definite repayment date.

Yes and even though it is your parents and they may not blame you if the money is gone, it still feels bad if you know you persuaded them and made them buy cryptocurrencies that made them lose their investment in the end. If you want them to get involved keep it low level in terms of risk. Small amounts every months in well established cryptocurrencies only.

Lantind

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Quote from: ningrum on June 19, 2021, 05:33:08 AM

However, in everything there are positive and negative sides, including cryptocurrencies.
it also depends on how we view things so if we only focus on the negatives, of course it's very unfortunate,
What is clear is that I don't understand what makes them think negatively about cryptocurrencies

What makes them think negatively about cryptocurrencies is only one thing, namely their own selfishness which makes them reluctant to learn about cryptocurrencies as if this cryptocurrency is always wallowing in fraud, even though they themselves have never tried it.

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Quote from: vabchgent on June 22, 2021, 10:32:21 AM

Quote from: ampu on June 19, 2021, 05:44:51 AM

Investing in altcoins for me is a type of venture capital so the risk of losing money is very obvious. It is difficult for us to convince our parents to invest in this market with large amounts of money because they will not bet their money on such a market. They are not knowledgeable about cryptocurrencies, Bitcoin or altcoins. Another thing is that the volatility of crypto is so large, they probably won't accept that.

I do't know, it's quite the burden to motivate your parents to put money into crypto. Also depends on how rich they are. If they don't care losing a couple thousand bucks, why not. But if every penny counts for them I would be very careful. Sometimes missing out on profit is better than losing real money.

Convincing them to invest your way would rather I borrow money to invest. At least I will be responsible for my own investment without messing with other people's money. It's all just a loan with no definite repayment date.

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altcoins do have a good opportunity to make very large profits because the prices are still cheap and can potentially increase prices by more than 500% as happened to dogecoin, thus making altcoins very good for profit, but altcoins have very high risk.

Not all of the altcoins can have the same fate as the altcoins that you have mentioned. But there really will be those altcoins that can pump unexpectedly.
And, we will never know what those altcoins are until they've already made the pump and usually, we're missing it.

vabchgent

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Quote from: ampu on June 19, 2021, 05:44:51 AM

Investing in altcoins for me is a type of venture capital so the risk of losing money is very obvious. It is difficult for us to convince our parents to invest in this market with large amounts of money because they will not bet their money on such a market. They are not knowledgeable about cryptocurrencies, Bitcoin or altcoins. Another thing is that the volatility of crypto is so large, they probably won't accept that.

I do't know, it's quite the burden to motivate your parents to put money into crypto. Also depends on how rich they are. If they don't care losing a couple thousand bucks, why not. But if every penny counts for them I would be very careful. Sometimes missing out on profit is better than losing real money.

ampu

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Investing in altcoins for me is a type of venture capital so the risk of losing money is very obvious. It is difficult for us to convince our parents to invest in this market with large amounts of money because they will not bet their money on such a market. They are not knowledgeable about cryptocurrencies, Bitcoin or altcoins. Another thing is that the volatility of crypto is so large, they probably won't accept that.

Dr.Osh

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sometimes, parents pay more attention to the risks than the benefits. So, they need further explanation. even for people who understand crypto, still, be very careful in choosing investments. however, when they see a chart going down sharply, they will definitely be afraid to invest in it. not a few people fail in this. if you still plan to invite your parents, give them education about the benefits and risks that can be obtained, and try to choose the right investment place, because there are so many altcoins that are not trusted until now.

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Quote from: Lantind on June 19, 2021, 05:04:34 AM

Quote from: Hypnosis00 on June 19, 2021, 04:46:51 AM

It was helpless to talk to people when there is no sense of interest, yeah, it is just a waste of time and effort. many were still ignorant about crypto, they usually think about scams, altcoins are shit, I will just lose my money. It is all about negativity. We can do nothing about this kind of mindset.

Instead of spending time talking to people, it is much better to spend time improving our knowledge and skill. And as well know that crypto investment is not for everyone, and not force them either if they don't.

Totally agree with what you are saying, because time is always valuable to waste on people whose thoughts are still very negative without exploring them first, in my environment there are also so many people who think negatively about cryptocurrencies so I always ignore them without teaching them anything, including not inviting him in all things.

However, in everything there are positive and negative sides, including cryptocurrencies.
it also depends on how we view things so if we only focus on the negatives, of course it's very unfortunate,
What is clear is that I don't understand what makes them think negatively about cryptocurrencies

Lantind

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Quote from: Hypnosis00 on June 19, 2021, 04:46:51 AM

It was helpless to talk to people when there is no sense of interest, yeah, it is just a waste of time and effort. many were still ignorant about crypto, they usually think about scams, altcoins are shit, I will just lose my money. It is all about negativity. We can do nothing about this kind of mindset.

Instead of spending time talking to people, it is much better to spend time improving our knowledge and skill. And as well know that crypto investment is not for everyone, and not force them either if they don't.

Totally agree with what you are saying, because time is always valuable to waste on people whose thoughts are still very negative without exploring them first, in my environment there are also so many people who think negatively about cryptocurrencies so I always ignore them without teaching them anything, including not inviting him in all things.

Topic: Altcoin is good. It’s hard to persuade parents to invest in it. - page 7. (Read 3702 times)