Topic: How can I handle this? (Read 420 times)
Each person has people whom he can trust. There are friends, buddies, and just acquaintances. We always know more about the people themselves, whether they need investments, whether they can afford to lose some funds, or whether, for them, the loss can be a significant loss. Here you need to know human psychology and approach getting acquainted with bitcoin only with those people who are ready to learn about it. I do not agree with the need to be silent and not tell anyone, but of course, all "lessons" should be neat and gradual.
How do you go about showing people how to invest in crypto? What are your do and don't? I'm trying to avoid some negative vibes from people around but they thought I intentionally don't want to show them way, they can't handle the crypto pressure, they lack patience I know because we grow up together.
Giving financial suggestions is not a good idea if you are not a professional in that particular sector. Some people think that crypto is like gambling and you could be rich overnight so some of them become greedy and ask people around them. Without getting proper knowledge about crypto space could end up with a disaster. So if someone asks you about crypto investment then ask them to get knowledge about fundamentals first.
How do you go about showing people how to invest in crypto? What are your do and don't? I'm trying to avoid some negative vibes from people around but they thought I intentionally don't want to show them way, they can't handle the crypto pressure, they lack patience I know because we grow up together.
What to tell them and how to carry them along is very simple, if actually they're interested.
First of all tell them the risk side of cryptocurrency by telling them
1.How they can loose money within a twinkling of an eye.
2.The volatility involved in cryptocurrency market.
3.That Crypto is not yet regulated anything can happen.
4.That crypto investment involves the money which they can afford to loose.
After narrating some of the risk involved, then watch and you will see the unserious one will back off , then teach the serious ones.
Before suggesting anyone to invest in Crypto we should know that a new crypyo investor can't make a right decision and there is a huge chance to lose his funds. So I will suggest to anyone that don't invest in crypto you you don't know about it's volatility and until you have much knowledge about the proper way to trade.
1. Do not go around telling people what you are into.
2. Some people or most people will want instant good result and crypto is all about patience which many don't have.
3. In the world today even very close friends or relatives can turn to enemy very fast, introducing them into something they don't know anything about is dangerous and also crypto is a high risk investment, you need to let them know.
2. Some people or most people will want instant good result and crypto is all about patience which many don't have.
3. In the world today even very close friends or relatives can turn to enemy very fast, introducing them into something they don't know anything about is dangerous and also crypto is a high risk investment, you need to let them know.
Never you introduce people to Bitcoin just like that, because when the price goes down, they will come to blame you that they were at home and you came to introduce them to what has made them lose their funds, but rather If they want to invest in crypto they should be the one coming to you. Because you should be able to portray yourself in such a way that when they see you, they see someone knowledgeable about cryptocurrency, by always being the one who talks about Bitcoin all the time, telling people what bitcoin is, how it works, the pros and cons and many other to anyone ready and willing to learn.
Because what most people do now is, since most exchanges have a referral program, in other to earn a commission tell people to invest in Bitcoin by telling only about the pros, and neglecting the cons, and finally when such a person has unvested and price doesn't go as planned, start panicking that BTC is a scam. So it is always advisable to tell both pros and cons
Because what most people do now is, since most exchanges have a referral program, in other to earn a commission tell people to invest in Bitcoin by telling only about the pros, and neglecting the cons, and finally when such a person has unvested and price doesn't go as planned, start panicking that BTC is a scam. So it is always advisable to tell both pros and cons
If these people have no clue about cryptocurrency then you should start by teaching them the basics such as how to make transactions, which are the best wallets to use and the difference between them, how to keep their coins safe.. Then you can show them how to spot scam projects and fake apps..
The most important thing is to never give financial advices. Just explain them how things works and make sure they understand the risks of investing in such a volatile market.
This is all you should do. If they still want to invest then they should make their own research so they don't blame you when things start going south.
The most important thing is to never give financial advices. Just explain them how things works and make sure they understand the risks of investing in such a volatile market.
This is all you should do. If they still want to invest then they should make their own research so they don't blame you when things start going south.
I will not intentionally tell people about crypto investing. unless someone asks.
and when I ask then I won't start by explaining the advantages but maybe starting with basic crypto knowledge. new to the realm of investment and profit and loss in it.
and when I ask then I won't start by explaining the advantages but maybe starting with basic crypto knowledge. new to the realm of investment and profit and loss in it.
How do you go about showing people how to invest in crypto? What are your do and don't?
Personally, do:
- Give them understanding about the risk that they will also get instead of profits, so not only profits that will be gained but also there is risk
- Invite them to learn the basic knowledge about cryptocurrency, at least they understand at first about cryptocurrency before they put their money in the crypto
- Give them an understanding also about the ways to invest in crypto, not to follow the hype, asking for them about the focus of them on short term or long term, and also ask about what is their intention of investing in crypto
- Ask them to always learn about the basic knowledge of crypto trading, you show the way, and they themselves who continue learning about it. If they are lazy to learn, just leave them
- and some others
Don't:
- Don't invite them to invest at first
- DOn't guarantee them about the profits, because we will not know exactly about the profits and risks that they may actually get
- Don't suggest them to invest in hype projects or FOMO
I don't really think is nice encouraging people to invest in cryptocurrency, most people will think you want to scam them, the only people I encourage to invest in cryptocurrency are my families, friends and anybody that come to me and ask me to teach him. If you are teaching anybody cryptocurrency, always make sure you don't collect there money to invest for them, let them buy and send it to their wallet address, they should create there own wallet and let them secure there private key, always teach them home to do some analysis like when to buy a coin, the best coin to buy, when to sell a coin. Don't let them depend on you for signal or anybody.
That's the right way of teaching new investor may you should not get money from them let them send their money in to the project wallet in order to know how to send and withdraw. Teaching a family first is the best thing to do if you are a successful investors. But before we teach someone we need to be educated about investments we need to know more about investing where we can invest, what coin and where to buy and sell out coins.
The idea of wanting to teach others around you about cryptocurrency is not a bad one, that's shows a feeling of concern about their financial life.
But in doing that always watch out for the ones that fault finders, theae sets of persons only focuses on how the cryto world is ain't working as it's been proclaimed to be.
Like they use a bad outcome of someone they knew that invested into cryto and didn't do well to generalize the whole system.
For me, I just believe that my success should speak for me, that's what would really attract them to ask questions with real interest to know. Then from there you can start putting them through about the fundamentals and basics of cryptocurrency.
But try not to advice or rush them into investing with the few knowlege you might feel they must have gotten through about it. Rather encouge them to be patient to learn more and give themselves time.
Lastly, don't try to invest on their behalf, allow them do it themselves, most times we learn better through personal experience and just in case it didnt work out well you wouldn't be blamed or burden with so much explanations as to why it didn't work.
But in doing that always watch out for the ones that fault finders, theae sets of persons only focuses on how the cryto world is ain't working as it's been proclaimed to be.
Like they use a bad outcome of someone they knew that invested into cryto and didn't do well to generalize the whole system.
For me, I just believe that my success should speak for me, that's what would really attract them to ask questions with real interest to know. Then from there you can start putting them through about the fundamentals and basics of cryptocurrency.
But try not to advice or rush them into investing with the few knowlege you might feel they must have gotten through about it. Rather encouge them to be patient to learn more and give themselves time.
Lastly, don't try to invest on their behalf, allow them do it themselves, most times we learn better through personal experience and just in case it didnt work out well you wouldn't be blamed or burden with so much explanations as to why it didn't work.
If you are teaching anybody cryptocurrency, always make sure you don't collect there money to invest for them, let them buy and send it to their wallet address, they should create there own wallet and let them secure there private key, always teach them home to do some analysis like when to buy a coin, the best coin to buy, when to sell a coin. Don't let them depend on you for signal or anybody.
Our involvement is only to provide cryptocurrency education to those who want to understand cryptocurrency well, starting from the crypto fundamentals, analysis and research stages to adding Bitcoin or potential coins to the portfolio. I agree with your discussion above, that we should teach in the practice of wallet management and market analysis. I am sure if they get the right cryptocurrency knowledge then their family, relatives and friends will grow up to become professional investors or traders as long as they remain consistent and optimistic about enriching their knowledge about the cryptocurrency world.
If you want to teach people about crypto make sure they are trying to know more about it, meaning they already have an interest in the technology but they lack the knowledge, don't go around teaching those who have zero interest in crypto you will regret really fast once something happens.
each field has its own terminology and vocabulary. most importantly, we want to communicate. even if its not that a formal setting like a university, i believe its still important to go through what one wants to post. for better understanding. so using of bitcoin and crytocurrency vocabulary are important. grammatical constructions are also cool, try to reread before posting for better understanding. there are some apps that can help correct grammatical construct.
I don't really think is nice encouraging people to invest in cryptocurrency, most people will think you want to scam them, the only people I encourage to invest in cryptocurrency are my families, friends and anybody that come to me and ask me to teach him. If you are teaching anybody cryptocurrency, always make sure you don't collect there money to invest for them, let them buy and send it to their wallet address, they should create there own wallet and let them secure there private key, always teach them home to do some analysis like when to buy a coin, the best coin to buy, when to sell a coin. Don't let them depend on you for signal or anybody.
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I recall one of my friends back in high school that wouldn't even try solving simple math problems by himself and keeps bugging me without giving much effort for himself to learn. I can't imagine how pain in the ass would it be if I even taught him crypto.I can imagine getting calls by 2:30 am just to teach someone like babysitting them.
Don't force others if they don't want to invest. it will be very difficult for you.
If they are interested they should be willing to learn and read about how to invest in crypto and what are the pros and cons.
If you really have to give a little explanation or example, give them a direct example of how to invest in crypto, how to do it step by step,
and what risks they will face.
Don't let yourself be blamed for all the losses that could happen.
If they are interested they should be willing to learn and read about how to invest in crypto and what are the pros and cons.
If you really have to give a little explanation or example, give them a direct example of how to invest in crypto, how to do it step by step,
and what risks they will face.
Don't let yourself be blamed for all the losses that could happen.
It's pretty hard to confuse people this day unless they start noticing big success in your life, a few years ago when I started mining crypto with old graphic cards many people around me try to talk me out of it, some even said im wasting my time trying to discourage me instead of encouraging, I ended up leaving them and stay far away until things turn right for me, now they are regretting it.
It really a bad idea to introduce someone into crypto currency if they don't asked you about it,
I certainly disagree with the idea. We are telling others for the sake that they will learn something from us. We are imparting knowledge with them and it was not bad, actually.
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with the rate of scam and love for money in this country now most people might even think you want to scam them, especially when their investment goes wrong. Alot of people are inpatient when it comes to money issue and you can't blame them. Money is very hard to find now. So it best you make your crypto knowledge hidden especially from people who are not into it already.
People got lost their investments, people got scams, and that was because they fall into the wrong investments, easy money schemes, Ponzi schemes, and many scam tricks. But, if they just listen to us, there are no such things going to happen. We need to clear and empty their minds about thinking bad/negative against crypto. Just to help them know that not all crypto is scams and we can avoid them if we do the research before investing.
It really a bad idea to introduce someone into crypto currency if they don't asked you about it, with the rate of scam and love for money in this country now most people might even think you want to scam them, especially when their investment goes wrong. Alot of people are inpatient when it comes to money issue and you can't blame them. Money is very hard to find now. So it best you make your crypto knowledge hidden especially from people who are not into it already.
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