How do I introduce Bitcoin to my client? - page 6.

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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.

The steps to investing in Bitcoin are very simple, and all you need to do is you have to fund is go download a Bitcoin wallet (i.e Electrum or Bluewallat) from either Apple or Google play store, meet someone who has got Bitcoin to sell either physical or while using centralized exchange such as Binance, OKX and Bybit to buy Bitcoin using its p2p marketplace, copy your wallet address and send the fund to it.. its very simple

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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?

Cryptocurrencies are volatile currencies, which means for you to be able to convince people to invest in it, you first need to understand how it operate and work, so as to not lead people astrays into investing wrongly. Because in all cryptocurrencies, Bitcoin is the best I can always advise people to invest in, due to the fact that it's least volatile, and has a long term investment potential of yielding seasonable profit as compared to altcoins.

retreat

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It might be quite difficult when you convince someone to invest in Bitcoin when he doesn't know anything about it. Maybe the best thing for this is to provide education about what Bitcoin is, how it works, and various other basic knowledge about Bitcoin, so that people can have an idea of what Bitcoin is. And once he understands that, you also need to tell him about the risks of investing in Bitcoin and how best to invest in it as a beginner. Basic things like that should make him more confident about investing in Bitcoin. But just make sure that investing in Bitcoin has risks, so that later when the investment goes negative, you won't be the one to blame.

Pokapoka124

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What is it that you do for work because I do not understand the relationship you have with a client that puts you in that situation where you can give financial advice to them. Unless it is part of your job, I don’t think it’s a good idea to convince your client to invest in Bitcoin because Bitcoin is volatile and newbies do not understand the fluctuations of the market and are likely to panic when the price drops. I suggest you let them come to that decision by themselves. That way you are free from the burden of being responsible for their investments.

Roseline492

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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.

Actually in my local Proverbs there is a quote that says that Seeing is believing, however this actually means that you can only be able to show or teach someone if you are already a Bitcoin investor because you will have a proof that would helped and explain to the person that you have a certain amount of Bitcoin in your portfolio, but in a case when you have not actually started investing on Bitcoin there is no way you will be knowledgeable enough to educate someone about investment. However in terms of trying to persuade someone into Bitcoin I really don't see the need to, and if you must advice someone you should be very mindful with the kind of investment advice you give because with a wrong advice if something happens to his investment along the line you could be accused for it.

Abu-Naim

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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.

First of all, you need to know about Bitcoin before you can convince any other person towards it, if you have good knowledge and understanding about Bitcoin, then you can confidently tell people and convince them about it.

If you explain the idea behind bitcoin which include financial security, decentralized transactions and storing value to anyone in a centralized system, they can easily be convinced and invest in Bitcoin. Let them know the difference between Bitcoin and altcoin, let them know that investing in Bitcoin come with less risk than investing in altcoin.
You can refer them to this book For proper understanding about Bitcoin and its basics.

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Quote from: BitGoba on July 06, 2024, 08:26:32 AM

Anyone who wants to understand Bitcoin must first understand what money is and understand the current fiat system. If a person is not aware of the problems with the fiat system, they will never understand Bitcoin. Bitcoin was created to solve the problems of fiat currencies. As for altcoins, they are almost the same as fiat currencies, highly centralized and controlled by a small group of people who can print them at will. They don't solve any problems; the only motive behind their creation is to enrich the groups of people who created them

The best thing for beginners is to take the time to read a few books: "The Bitcoin Standard" and "The Fiat Standard" by Saifedean Ammous, and "Broken Money" by Lyn Alden. If a person is intelligent, they will probably understand everything and have a much clearer perspective after reading these books.

I agree.

I assume that people who not understand and want to learn Bitcoin are people who're not a computer engineer/science etc, so it's better to teach them in economic. Most people will understand because they only need to know the basic thing and the reason why they want to invest in Bitcoin aside from the price.

But, it require extra work for people who believe in centralization and government.

Orpichukwu

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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?

First, you said your client wants to invest in bitcoin or any other crypto currency, but the said person doesn't know how what they want to invest in works. My question now is: How does he or she want to invest in something they don't know about?

And in situations like this, you are not the person convincing them to invest because, from your statement, the person already has the intention to invest in it.

So all you have to do now is educate the person on how bitcoin works, ask the person what kind of information they have about bitcoin in the first place before they want to invest, and make them understand it's not a fast money-earning means if they have all the information in their hand, it will now be left for them to decide their next step.

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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.

From your explanation OP, it seems you yourself don't have much knowledge about Bitcoin, so I would rather advise you develop your skill set about the cryptocurrency environment and Bitcoin in particular, because whatever you should be teaching others is what you yourself have learnt and understood. So don't introduce your client yet, have a practical knowledge of what you want your client to indulge in, is not always Rosie with the cryptocurrency market so it's better you have a first hand experience of the volatility.

If you're client invest with high hopes of possible high return on investment in a short time, then it didn't go as planned, obviously you will see your client frowning at you, because that might not be what you must have told him, so all of these involves what you know and how to go about it before helping others.

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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?

Exposure to learning materials and resources is a good way to introduce someone to bitcoin. Speaking out of your own understanding alone may not be the best way because they may consider your information not to be completely truthful because there is always the possibility of them being a bias that maybe you stand something to gain from bringing them to invest in bitcoin.

Help anyone that you want to convince to invest in bitcoin to get the proper information from the internet so that they can read and see the facts for themselves.

BitGoba

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Anyone who wants to understand Bitcoin must first understand what money is and understand the current fiat system. If a person is not aware of the problems with the fiat system, they will never understand Bitcoin. Bitcoin was created to solve the problems of fiat currencies. As for altcoins, they are almost the same as fiat currencies, highly centralized and controlled by a small group of people who can print them at will. They don't solve any problems; the only motive behind their creation is to enrich the groups of people who created them

The best thing for beginners is to take the time to read a few books: "The Bitcoin Standard" and "The Fiat Standard" by Saifedean Ammous, and "Broken Money" by Lyn Alden. If a person is intelligent, they will probably understand everything and have a much clearer perspective after reading these books.

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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?

You show them how Bitcoin works, what it is, why it is what it is, and guide them properly, such as directing them to websites like this: https://www.lopp.net/bitcoin-information/getting-started.html.

If they don't understand or show interest, then you need to respect their decision. I wouldn't want to convince someone invest into something they don't understand.

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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 can't just simply think that it works easily. You need to feed them information personally to fasten understanding or else, they will spend months to fully understand how this thing works. You can also link this BTT forum to them for additional information aside from encouraging them to watch online tutorials.

But talking about how to convince them? Well, telling them the truth and the risk will make them doubtful. That is why please don't but just let them decide and approach you if they have interest. Otherwise, you are taking big responsibility for their money. Introducing them is enough but urging them to invest is another story and the worse thing may happen is they will blame you.

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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.

If someone wants to invest, there's no need to convince them. If someone doesn't want to invest, I'd say it's inappropriate to try convincing them. Bitcoin seems like a good investment, but investment always entails a risk, so a person should be willing to take that risk to proceed. If your client wants to learn more about Bitcoin, it's worth to look at the price chart, at some data on who recognizes Bitcoin and in which roles, and of course at safe options of buying and storing Bitcoin, as well as at pitfalls when it comes to using it.

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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.

Before giving further directions to clients to invest in bitcoin, you must first understand the science of bitcoin, everything related to investment certainly has risks and you must really explain in detail what bitcoin is, its benefits, long-term goals, etc. clients will definitely rely on your explanations, even the smallest thing will have an impact on their investment. Remember your job is only as a giver of messages, decisions and so on, let the client decide.

In the past, I also did the same thing, only 10 out of 15 people ultimately decided to invest based on their own decisions and control.

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You have to be knowledgeable about Bitcoin before you can introduce it to your clients. There are many technicalities associated with Bitcoin technology and for a person that wants to make profit from Bitcoin as a business, it's important to let them to understand that it's not a get rich quick scheme. Bitcoin trading and mining needs more technical knowledge to understand, meaning that your clients needs to aquire necessary skills and fundamentals to start them, although investment or hodling doesn't require much technical skills. Bitcoin is a volatile asset and that means that your clients that plans to invest in it should be prepared to hodl for a long term to be able to maximize their ROI.

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Start simple: Bitcoin isnt just a currency; its a new technology that gives people more power by letting them send and receive money between peers on a decentralized network -> No banks, no fees, just complete transparency and money control.

Cryptocurrencies may overwhelm your client. Simplify it. Tell me how Bitcoin's blockchain technology archives transactions across numerous computers so they cant be changed retrospectively without changing all following blocks. The foundation of its security and attraction.

Promote Bitcoin's investment potential. Discuss its background, market resiliency, and expanding business and government acceptability. Equally, inform them of the volatility and risks. Transparency regarding ups and downs builds trust. Finally, reflect their vision. Promote Bitcoin's cutting-edge technology if they respect innovation. Help them understand Bitcoin's cryptography if they value investment security. Instead of just selling, integrate the conversation with their values and aspirations to help them see Bitcoin as part of their financial strategy.

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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

Bitcoin is none of these.

It's not fastest blockchain.
It's not smartest virtual currency. What is a digital currency as smart or smartest?

Bitcoin average block time is 10 minutes and you can find many blockchains with lower block time like Ethereum, Binance Smart Chain and many others.

But on top of that, in term of security, Bitcoin blockchain is the best, decentralized, highest network hash rate and nearly impossible to be attacked so Bitcoin transactions can be said, irreversible.

https://howmanyconfs.com/

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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 suggest you, stay away from the idea of implicating someone in something.
The very fact that you have to ask for advice means that you are not completely sure of what you should present to that client.
Also, if he wants to invest, he must do his own research and become better acquainted with the matter in which he plans to invest. It is a pretty bad idea to invest based on your or anyone else's recommendation in something about which he knows little or nothing.

There are two scenarios, certainly, if everything goes well, everyone will be happy and satisfied. But things can go in the wrong direction and you don't want to be blamed for "bad advice", and that can also happen if the market goes down (as it is right now) and your client has no long-term patience.

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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?

You never convince anyone to invest in Bitcoin. If there is a knowledge gap, you can supply them with basic knowledge that can help fill that gap and enable them make an informed decision themselves.

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

what are the smartest ideas and informations I need to share to such person inorder to align with their vision?

You can search for beginners articles which introduces one to Bitcoin or help them create a account on the forum and find the necessary information themselves.

Sky_T

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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.

Topic: How do I introduce Bitcoin to my client? - page 6. (Read 1189 times)