How do I introduce Bitcoin to my client? - page 2.

avp2306

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Quote from: Cryptohygenic on July 17, 2024, 05:17:29 AM

Quote from: Sky_T on July 06, 2024, 05:23:29 AM

No doubt, Bitcoin is one of the fastest and smartest virtual currency that has been designed to support P2P and a transparent transaction between users on a decentralized network. There are many that has actually want to venture into bitcoin market investment, but no ideas on how to start.

If I have a client that wants to invest in Bitcoin or any other cryptocurrencies, but he/she does not have any actue ideas on how the Bitcoin ecosystem works. How do I convince such person? what are the smartest ideas and informations I need to share to such person inorder to align with their vision?

I need suggestion to this.

What kind of client are you referring? Perhaps you don't need to convince anyone to invest on bitcoin but if your client are bitcoin enthusiast and are expressive to you of their interests on bitcoin but does not know how to go about it, since you have become a member of this forum you can simply direct them to come learn by themselves.
But while on a one on one, you just have to explain the reality fact of bitcoin and not strategically of convincing them.
Let them decide for themselves so that you don't have to be blamed at any course of negative outcome.

For saying that his client have zero knowledge about bitcoin, then provably with that he cannot easily convince his client to learn this. So more better for him is to avoid any attempt to convince his clients to invest on bitcoin since instead of gaining positive approach to what he introduce to that person. Maybe it will create separation especially if that client would find bitcoin as scam. So OP should learn to keep his activities secret and just approach his client if he's already a bitcoin investor.

There's nothing to gain for that and we don't need to market it since the developments happen is the one will market it self. Bitcoin potential is so great and for sure in future they would learn about bitcoin then try to invest on this asset.

stadus

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For me, the most vivid introduction would be bitcoin is the opposite of fiat, or let's just say, what fiat lacks, bitcoin fulfills it. When you say fiat is completely controlled by banks or any other entity, with bitcoin, you are in full control of it. When you say fiat is affected by inflation, bitcoin beats inflation. And when you say fiat's value will depreciate in the future, bitcoin appreciates every now and then that's why bitcoin attracts a lot of long term investors as they gain higher value and profits when they hold bitcoin longer.

SmartCharpa

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Quote from: Sky_T on July 06, 2024, 05:23:29 AM

If I have a client that wants to invest in Bitcoin or any other cryptocurrencies, but he/she does not have any actue ideas on how the Bitcoin ecosystem works. How do I convince such person? what are the smartest ideas and informations I need to share to such person inorder to align with their vision?

I need suggestion to this.

You don't have to convince someone to invest in Bitcoin, doing so will get you into trouble later if the investment fails to work as expected. You mentioned that the person wants to invest in Bitcoin and other cryptocurrencies, but does not understand how they work, If the person wants to invest, why did you have to convince them to start the Bitcoin journey? I don't think the person wants to invest because everyone who wants to achieve their goal will come to you and ask you to teach them how cryptocurrency works, not until you convince them because if they get scammed or invest in any scam project, they will hold you responsible. After all, you introduced them to it.

Cryptohygenic

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Quote from: Sky_T on July 06, 2024, 05:23:29 AM

No doubt, Bitcoin is one of the fastest and smartest virtual currency that has been designed to support P2P and a transparent transaction between users on a decentralized network. There are many that has actually want to venture into bitcoin market investment, but no ideas on how to start.

If I have a client that wants to invest in Bitcoin or any other cryptocurrencies, but he/she does not have any actue ideas on how the Bitcoin ecosystem works. How do I convince such person? what are the smartest ideas and informations I need to share to such person inorder to align with their vision?

I need suggestion to this.

What kind of client are you referring? Perhaps you don't need to convince anyone to invest on bitcoin but if your client are bitcoin enthusiast and are expressive to you of their interests on bitcoin but does not know how to go about it, since you have become a member of this forum you can simply direct them to come learn by themselves.
But while on a one on one, you just have to explain the reality fact of bitcoin and not strategically of convincing them.
Let them decide for themselves so that you don't have to be blamed at any course of negative outcome.

Mame89

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Quote from: Rabata on July 12, 2024, 02:58:42 PM

I think it would be beneficial if you give him an idea of Bitcoin instead of trying to convince him. But when you try to convince him he will start depending on you at some point if he starts investing and he will totally blame you for losing. Hence one should refrain from attempting such a work. However, since Bitcoin is a widely discussed topic worldwide, many people may not know about it, so if you give them an idea about Bitcoin, you can only teach them about Bitcoin who will be encouraged to invest. They should also be aware of the fact that there are profits from Bitcoin and there is a high risk of loss. If they are motivated to invest then they need to be given some basic ideas on how to buy and hold bitcoins and security issues.

I agree with your opinion. It is better to give a detailed explanation about bitcoin than to convince him to invest in bitcoin. because apart from depending on us, when he makes a wrong decision or experiences a loss he will blame us for the loss he caused. However, if we provide knowledge and provide an overview of Bitcoin, he will research it himself and find out for himself, so that even if he dives into the world of crypto, it will be entirely his own decision.

Of course, when we give a half-hearted picture of Bitcoin, we have to give a complete picture, starting from the benefits, risks and importance of wallet storage security. In conclusion, never force or convince people to invest in Bitcoin because it will be risky for us in the future, but educate them about Bitcoin. This is what I do if a friend wants to invest in bitcoin. I don't recommend buying bitcoin before he understands bitcoin completely.

Yamifoud

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Quote from: YUriy1991 on July 11, 2024, 12:00:43 AM

Quote from: Sky_T on July 06, 2024, 05:23:29 AM

If I have a client that wants to invest in Bitcoin or any other cryptocurrencies, but he/she does not have any actue ideas on how the Bitcoin ecosystem works. How do I convince such person? what are the smartest ideas and informations I need to share to such person inorder to align with their vision?

I need suggestion to this.

You don't need to tell your client, for example, about the sensation, but you just need to convey that investing in BTC must be long-term and also remind him about things that are considered specific, for example the timing when he will buy, because if that is not conveyed, he will definitely blame you for the recommendation. what is given is considered misleading and detrimental to him.

Generally, it is giving them the right information, and understanding these informations gives them interest and are enough for them to say, I will invest.
It is not necessary we urge people to invest, even our clients but, it is their decision and willingness to take risks.

Quote

Maybe along the way, not everything is as desired, but at least there are many positive points that come to your client's mind. Moreover, he came and believed in the great potential behind the technology in BTC, which in itself will increase the value of trust that investing in BTC will not be in vain in the end.

Because in the point they fully understand how these things work, they don't need other people to invite them, they will go first. Building trust matters a lot and it is not impossible we know the system and the right thing to do. But to live in doubt gives them a reason to decline even though we give them a hand to help.

Mr.right85

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Quote from: Sky_T on July 06, 2024, 05:23:29 AM

If I have a client that wants to invest in Bitcoin or any other cryptocurrencies, but he/she does not have any actue ideas on how the Bitcoin ecosystem works. How do I convince such person? what are the smartest ideas and informations I need to share to such person inorder to align with their vision?

I need suggestion to this.

I don’t think you would have any difficulty with having to introduce Bitcoin to a client that have already built up interest in Bitcoin. Such client didn’t build up that interest over it, it must have been due to the various news they’ve heard from friends or seen in some publication, whichever there channels might be.

I think your best approach here would be, having them to tell you what they know.
Don’t be surprised your client might see it for a get rich scheme or perhaps just come and start trading to get money.

Let them tell you what they know, what caught their interest and from there, you would demystify Bitcoin for them. Ensure they understand that, all the decisions they make is tied to them and Bitcoin isn’t some innovation you just invest in and make money out of it. Let them understand they could loss, mainly based on individual decisions and that’s okay too.

ChiBitCTy

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What type of client is she? Why do you think that she needs to own bitcoin? I think it all depends on your clients situation and of course what sort of relationship you two have, that makes her your "client'? As a financial advisor if I'm recommending something to a client, I want to make sure I lay out exactly what it is, how it works and see if it makes sense to them as well. Unless the client has me just pick whatever for them, making sure they are comfortable with what you invest in is a huge part of it.

HajiBagi

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Quote from: Sky_T on July 06, 2024, 05:23:29 AM

No doubt, Bitcoin is one of the fastest and smartest virtual currency that has been designed to support P2P and a transparent transaction between users on a decentralized network. There are many that has actually want to venture into bitcoin market investment, but no ideas on how to start.

If I have a client that wants to invest in Bitcoin or any other cryptocurrencies, but he/she does not have any actue ideas on how the Bitcoin ecosystem works. How do I convince such person? what are the smartest ideas and informations I need to share to such person inorder to align with their vision?

I need suggestion to this.

I want to ask you a question, Do you know much about Bitcoin? If yes then explain what you understand about Bitcoin to them and if they are capable of doing it they will invest in it, never try to convince anyone to invest in Bitcoin because in the end, you might not like what will happen when you want to introduce someone to bitcoin you have to make it clear to them so that he or she will understand what you are saying, bitcoin investment is all about money and when we are talking about money we are talking about something that is very valuable and can cause a problem between two people, my advice is to explain to your clients the nature of bitcoin and how it is so that if they are interested they will invest and if anything happens you won’t be blamed for it, I’m just saying it because the price of bitcoin can rise and reduce at any time and some of them won’t understand it.

Sonia_123

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You discuss in general, you don't just table the Bitcoin, look at the person's conversation if interested in cryptocurrency,if his having interest ,you start putting the person through,but remember not immediately, you need to see the zeal and interest from that person,and you need to be careful when teaching, it should be the person you trust that does not talk anyhow and value relationship, if not just forget about it and don't continue your conversation on Bitcoin anymore because you don't know the person's next step.
Remember does your country accept Bitcoin or not,all should be taken into consideration before lecturing.

m2017

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Quote from: Sky_T on July 06, 2024, 05:23:29 AM

No doubt, Bitcoin is one of the fastest and smartest virtual currency that has been designed to support P2P and a transparent transaction between users on a decentralized network. There are many that has actually want to venture into bitcoin market investment, but no ideas on how to start.

To understand how to present bitcoin to your clients, need to understand what services you provide. Are you selling something (products or services) to your customers? In this case, it would be easy to introduce bitcoin to customers as an alternative payment method. For bitcoin to be used, the asset must satisfy some need. For example, a cheap payment method (discount when paying for btc), a simple and fast payment method for cross-border transactions (to anywhere in the world) and so on.

Or do you still offer investment services to your clients?

Quote from: Sky_T on July 06, 2024, 05:23:29 AM

If I have a client that wants to invest in Bitcoin or any other cryptocurrencies, but he/she does not have any actue ideas on how the Bitcoin ecosystem works. How do I convince such person? what are the smartest ideas and informations I need to share to such person inorder to align with their vision?

If you are trying to attract investors as a client, then you need to interest him from the position of an investor, that is, profit. Your simplest argument will be the profitability that bitcoin has demonstrated over its entire existence. And also, attention should be paid to reliability, because over the entire period of BTC’s existence, "death" was predicted for this asset hundreds of times, but so far this has not happened. Also, an indirect guarantor of the reliability of this asset is that large institutional investors trust this asset, and moreover, even some states (countries).

Mr.right85

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Quote from: Rabata on July 12, 2024, 02:58:42 PM

I think it would be beneficial if you give him an idea of Bitcoin instead of trying to convince him. But when you try to convince him he will start depending on you at some point if he starts investing and he will totally blame you for losing. Hence one should refrain from attempting such a work. However, since Bitcoin is a widely discussed topic worldwide, many people may not know about it, so if you give them an idea about Bitcoin, you can only teach them about Bitcoin who will be encouraged to invest.

Having to give someone an idea about Bitcoin is best practice and one that should be encouraged amongst merchants or members to a team that wishes to have his/her team in, in Bitcoin.

The dependency that comes with it isn’t an issue, it’s just a stage that transitions to their independence in the learning field. Even if you only gave them an idea, you become a secondary source of their information since, they can ask you in specifics and expect a straight answer.

Bitcoin and the cryptocurrency idea is a world wide familiar term but, that doesn’t necessarily mean the people know what Bitcoin is. In view that they do, you would have found a lot more investors than we have today.

Zoomic

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Quote from: Sky_T on July 06, 2024, 05:23:29 AM

No doubt, Bitcoin is one of the fastest and smartest virtual currency that has been designed to support P2P and a transparent transaction between users on a decentralized network. There are many that has actually want to venture into bitcoin market investment, but no ideas on how to start.

If I have a client that wants to invest in Bitcoin or any other cryptocurrencies, but he/she does not have any actue ideas on how the Bitcoin ecosystem works. How do I convince such person? what are the smartest ideas and informations I need to share to such person inorder to align with their vision?

I need suggestion to this.

Before you convince anyone to invest in bitcoins, you too should have a vast knowledge of what you are convincing anyone to invest in. It is not all about getting good ideas from members here on how to convince your clients, you should be readily available to render help to them if they have any technical issues with their wallets or are experiencing challenges in their investment journey.

On this note, you should first equip yourself with the right knowledge so when you speak to your clients, you will be speaking out of your personal experience with Bitcoin and not base on what you were told. If they choose to still invest after all you've said, then it's fine. If on the other hand they do not see the need to risk their money investing in bitcoins, then it's still on them. No one should be pressured into investing in Bitcoin.

AlphaBoy

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You can't convince anyone to invest in new idea no matter how you try it's simply impossible, I mean everyone who didn't understand technology back in the day thought Bitcoin to be a scam.

however you can convince them speaking in economic terms since the money is the universal language.
Tell them that Bitcoin increased more than 22604% in less than 10 years, they cannot look over that number and there is not a single stock or currency or any investment for that matter gained that much of a value in this short time.

Good luck.

Alone055

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Quote from: Huppercase on July 13, 2024, 03:23:20 PM

Another suggestion is let him be their while helping him buy Bitcoin, so he can learn against next time. I had this guy that was on my neck any time he want to buy any coin, luckily for him he didn't buy Bitcoin but another coin and he profited quickly due to the nature of altcoins and all of a sudden, he start coming with different phone to help him buy coin for some of his colleagues and he didn't know how to do simple but and sell. I thought him this time and I never saw his traces again.

I wouldn't even suggest doing that. When a person approaches you that they want to learn about Bitcoin or cryptocurrencies in general, direct them towards resources that they can read and ask them to do a lot of research so that they get enough knowledge before they get started, this will help them in their journey and they won't bother anyone whenever they need to buy something or make an investment.

It is also essential for an investor to understand everything before they get into the market, they need to know what is a wallet, which wallet is best for short-term or long-term holding of cryptocurrencies, what exchanges they should use, how they can research and find out which cryptocurrencies are trending, etc.

Once they are done with that, they wouldn't face a lot of problems because they would already know what they need to do and where they need to start from.

ThemePen

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Quote from: Huppercase on July 13, 2024, 03:23:20 PM

The first thing you need to let him know is that he need patient, without it he wouldn't be any profit because right now, if you want to make money holding Bitcoin, you need commitment and dedication without shaking when the price is doing his things, the Bitcoin market is so large that it will need time before your client can be profitable, I hope he is ready to hold and be a diamond hand no matter what happen. This is important for him so you don't get too much complain from him.

Another suggestion is let him be their while helping him buy Bitcoin, so he can learn against next time. I had this guy that was on my neck any time he want to buy any coin, luckily for him he didn't buy Bitcoin but another coin and he profited quickly due to the nature of altcoins and all of a sudden, he start coming with different phone to help him buy coin for some of his colleagues and he didn't know how to do simple but and sell. I thought him this time and I never saw his traces again.

I totally agree with you. When investing in Bitcoin it is crucial to be patient and committed for long term. Market can be unpredictable and profits take time. OP client needs to understand that holding Bitcoin requires dedication and perseverance through price ups and downs. By setting clear expectations he can avoid misunderstandings. Involving client in buying process is also great way to teach them and prepare them for future investments. His experience with eager investor shows how hands on learning can build confidence and independence. By teaching the basics he has helped them and freed himself from repeated requests. His approach is a great way to support clients in their cryptocurrency journey.

Huppercase

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Quote from: Sky_T on July 06, 2024, 05:23:29 AM

No doubt, Bitcoin is one of the fastest and smartest virtual currency that has been designed to support P2P and a transparent transaction between users on a decentralized network. There are many that has actually want to venture into bitcoin market investment, but no ideas on how to start.

If I have a client that wants to invest in Bitcoin or any other cryptocurrencies, but he/she does not have any actue ideas on how the Bitcoin ecosystem works. How do I convince such person? what are the smartest ideas and informations I need to share to such person inorder to align with their vision?

I need suggestion to this.

The first thing you need to let him know is that he need patient, without it he wouldn't be any profit because right now, if you want to make money holding Bitcoin, you need commitment and dedication without shaking when the price is doing his things, the Bitcoin market is so large that it will need time before your client can be profitable, I hope he is ready to hold and be a diamond hand no matter what happen. This is important for him so you don't get too much complain from him.

Another suggestion is let him be their while helping him buy Bitcoin, so he can learn against next time. I had this guy that was on my neck any time he want to buy any coin, luckily for him he didn't buy Bitcoin but another coin and he profited quickly due to the nature of altcoins and all of a sudden, he start coming with different phone to help him buy coin for some of his colleagues and he didn't know how to do simple but and sell. I thought him this time and I never saw his traces again.

tread93

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Quote from: Sky_T on July 06, 2024, 05:23:29 AM

No doubt, Bitcoin is one of the fastest and smartest virtual currency that has been designed to support P2P and a transparent transaction between users on a decentralized network. There are many that has actually want to venture into bitcoin market investment, but no ideas on how to start.

If I have a client that wants to invest in Bitcoin or any other cryptocurrencies, but he/she does not have any actue ideas on how the Bitcoin ecosystem works. How do I convince such person? what are the smartest ideas and informations I need to share to such person inorder to align with their vision?

I need suggestion to this.

I think a great place to start for anyone is simply to read "The Bitcoin Standard" by Saifedeen Ammous. This book provides a very good description and representation of Bitcoin, its use cases, history, and so much more. I would highly recommend that you check it out! That would be a great place to start. But if you don't have that much time just spend a little time educating yourself online about bitcoin, watch some videos, read some articles. Visity Khan Academy its free and they have some stuff on BTC as well.

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Quote from: Sky_T on July 06, 2024, 05:23:29 AM

If I have a client that wants to invest in Bitcoin or any other cryptocurrencies, but he/she does not have any actue ideas on how the Bitcoin ecosystem works. How do I convince such person? what are the smartest ideas and informations I need to share to such person inorder to align with their vision?

I need suggestion to this.

According to the bolded part, your client already wants to invest in Bitcoin so you do not have to convince the person into investing in Bitcoin. Probably you are asking how you can convince your client to trust your suggested method.

If you are acting in kind then I think you don't have to worry about how your client invests his money in Bitcoin. You can give him the needed information by giving him the link you think is important that explains Bitcoins, how to secure Bitcoin holdings, different kinds of Bitcoin wallets, and other important stuff about Bitcoins.

Just a reminder, if you want to be clear of future troubles, don't get involved with other people's funds.

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Quote from: Sky_T on July 06, 2024, 05:23:29 AM

No doubt, Bitcoin is one of the fastest and smartest virtual currency that has been designed to support P2P and a transparent transaction between users on a decentralized network. There are many that has actually want to venture into bitcoin market investment, but no ideas on how to start.

If I have a client that wants to invest in Bitcoin or any other cryptocurrencies, but he/she does not have any actue ideas on how the Bitcoin ecosystem works. How do I convince such person? what are the smartest ideas and informations I need to share to such person inorder to align with their vision?

I need suggestion to this.

I think it would be beneficial if you give him an idea of Bitcoin instead of trying to convince him. But when you try to convince him he will start depending on you at some point if he starts investing and he will totally blame you for losing. Hence one should refrain from attempting such a work. However, since Bitcoin is a widely discussed topic worldwide, many people may not know about it, so if you give them an idea about Bitcoin, you can only teach them about Bitcoin who will be encouraged to invest. They should also be aware of the fact that there are profits from Bitcoin and there is a high risk of loss. If they are motivated to invest then they need to be given some basic ideas on how to buy and hold bitcoins and security issues.

Topic: How do I introduce Bitcoin to my client? - page 2. (Read 1264 times)