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

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.

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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.

Rabata

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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.

lixer

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Quote from: mindrust on July 06, 2024, 01:17:34 PM

You don’t need to convince anybody. If he needs bitcoin, he will learn about it. Maybe it is not the right time for him to learn about bitcoin yet. In the past some people received hundreds of bitcoins as gifts and they have lost the passwords for the wallets of those coins because they didn’t care. Of course now they care because the price is a lot higher than what it used to be but the sad thing is, they can’t access their funds anymore.

Long story short, let your client do whatever he likes to do. Give him enough information to see if he understands what you are telling and if he does, give him some more. If he is not interested, it is not worth your time, leave him be.

People who are just starting to get interested in Bitcoin have a lot of things they want to know and understand. When someone asks us about Bitcoin, we should inform them of both the pros and cons of Bitcoin. One should never force anyone to buy Bitcoin or any other coin because if he buys a coin and loses money then all the blame is on us. After all, we recommended it, so it is better to ask him to study more about Bitcoin and the market by paying attention to the market conditions and when he is satisfied with himself and learns everything if it feels better, then he will do it himself, and if he does not feel better, then he will not do it.

As the popularity of Bitcoin grows more and more people are taking an interest in Bitcoin, they want to know and understand about Bitcoin and I think that with time, its popularity and prices will increase. Just as gold has become expensive today, Bitcoin will one day become so expensive that it will be beyond the reach of some people.

EarnOnVictor

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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.

Yes, you indeed appear to need suggestions but you never explained yourself well. By the word "client," it means they are the people you have business transactions with, we need to know this kind of business transaction to be sure of the best suggestion and advice for you. Do you want to collect money from them, invest it for them and take your cut? Or they are just your client in another industry or reasoning? Or you just want to enlighten them so that they will not miss out on crypto opportunities?

As you can see, these are three questions, and if it is the first one, I advise you to be very cautious and weigh your proficiency in crypto investment to avoid issues. People are doing it but it does not always end well, "invest the amount you can afford to lose." For the second, you should just let them be, it's none of your business. Third, there is nothing bad in sharing valuable information with the people you care about depending on the relationship. Just be natural about it and give them some resourceful links about cryptocurrency for them to study. They may pick their interest through that, but if they are not interested, fine, it is not something you should have a sleepless night over.

Dickiy

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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.

In fact, you only need to advise and give good advice if your client wants to invest in Bitcoin, let him learn independently to avoid bad things that will happen when investing, and it would be better to tell him about the riskier things about investing. in bitcoin, for example bitcoin which has a fluctuating nature that you will not be able to avoid, and other risks, because it requires a long journey that must be taken when investing to be able to achieve good results and it is not easy because on every journey you go through you will experience things. unexpectedly, investing in bitcoin requires patience and good finances so that the long-term targets set will run well. let your clients do it, you only need to support without having to be involved in the investment

HelliumZ

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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.

See the idea about Bitcoin is not the same for everyone but once in a while people become experts about this Bitcoin. Your client may not be an expert on Bitcoin but you can make your client an expert on Bitcoin if you try. In this case you have to give him knowledge about Bitcoin little by little and inform him by collecting a lot of information. But one thing is good to mention that never let your client invest and trade without having experience about Bitcoin. Because if these two things are definitely not experienced, there will be more chances of loss instead of profit. So first you make your client an expert on Bitcoin.

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Quote from: SOKO-DEKE on July 11, 2024, 03:29:02 PM

Quote from: Natalim on July 10, 2024, 04:45:21 PM

Convincing someone to invest or buy bitcoin is like putting yourself at a high risk to be blame later on. Why? Because you shouldn't be doing that to those who are not knowledgeable and not aware about how risky bitcoin is. You can introduce and teach them how bitcoin is valuable and beneficial but you can't just simply decide for them to invest while they are still not completely aware that they can also lose from this volatile investment. Teach them about bitcoin until they clearly understand it, and at the end of the day, give them the freedom to decide whether they will pursue bitcoin or not since there are still other investments that aren't volatile and are not that risky compared to bitcoin.

Honestly, it is not a good idea to try to convince anyone to invest in Bitcoin. I don't see any reason why someone would try to do that. The best approach is to introduce Bitcoin to them and allow the knowledge they gain about it to convince them to invest. As you said, if they fail, they will fully blame the person who advised them to invest. It's better to avoid anything that could later bring blame to us.

As we all know, Bitcoin involves risk due to its volatile nature. If you try convincing someone, they may go ahead and invest money they might need in the nearest future or even borrow money to invest, which is very risky. Because may need money at a time when the price of Bitcoin is down, and they might end up selling at a loss. There is also the possibility of getting scammed by scammers. Convincing someone to invest can lead the person to make a wrong decision.

I agree with you SOKO-DEKE, Many of my friends keep asking me to arrange to invest in Bitcoin. But they don't have a good idea about Bitcoin. They watch various hype videos on YouTube and people become millionaires by investing in Bitcoin and become crazy to invest after watching these videos.

I always tell them to have a good understanding of Bitcoin before investing. Learn about how Bitcoin works. I always try to explain to them that there are risks in investing if they do not have a basic understanding. In the beginning, I advised them to gradually invest a small amount every month rather than investing a huge amount at once. Actually, it is really risky to give someone financial advice, cause you know it might go either way.

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