Topic: How I convinced a Stock Trader to Invest in Bitcoin - page 4. (Read 603 times)
I always try to advice people about crypto-currency especially Bitcoin, but due to the fact that people always try to look for who to blame especially when things go wrong, I have shifted from trying to get them into Bitcoin through the investment powers of Bitcoin, but I rather tell the to do there own research about that, and prefer telling them about the usage of crypto-currency and how it can help them out in financial issues now and in the future
.... but I was surprised that he loved the market's volatility. Usually, any newbie does not like this much volatilities, but he was like, significant volatility, many opportunities of making profits from trading.
Why would you be surprised when you already said he trades often on stocks? Volatility is what most traders look for and it doesn't really matter if it's with stocks, crypto, or forex. He may be new to crypto but he's not a newbie when it's about trading.
Your uncle found it easy to understand because he already have knowledge with daily trading of stock and as such the volatility got him more interest to it. A stock trader knows the importance of volatility because that is meaning exchange is going on with in buyers and sellers creating high volumes.
Just show the results that you have earned in bitcoin then everything will be done and they will be interested.
Even though this interest is only partially due to curiosity and seeing the benefits, this is only temporary because if they are interested, they will automatically look for ins and outs of information about bitcoin and they will be here to invest if they really study the interest well.
Even though this interest is only partially due to curiosity and seeing the benefits, this is only temporary because if they are interested, they will automatically look for ins and outs of information about bitcoin and they will be here to invest if they really study the interest well.
Good job on getting your uncle into Bitcoin!
There is a slight issue though. You made it seem like you told him he was almost guaranteed that he would make large profits short term, this is not the case. Bitcoin is a solid long term investment if you're planning to hold it for a long time. Your uncle is a day trader who day trades, as in buys and sell the same stock in the same day. I don't get why you would compare to him his job, and hodling Bitcoin.
There is a slight issue though. You made it seem like you told him he was almost guaranteed that he would make large profits short term, this is not the case. Bitcoin is a solid long term investment if you're planning to hold it for a long time. Your uncle is a day trader who day trades, as in buys and sell the same stock in the same day. I don't get why you would compare to him his job, and hodling Bitcoin.
Bitcoin is an incredible thing for an outsider of the crypto industry. My friends always show their curiosity about Bitcoin, and they are pretty interested in getting into the Bitcoin ecosystem. But when it comes to traditional investors, it's challenging to mean them the crypto industry. Recently I faced this kind of situation.
My uncle (mother's brother) is a stock trader. He frequently trades like a day trader and invests a lot of money in mutual funds.
One day in the family gossiping, I comprised his investment plans and my investment plans. He put his money in mutual funds and did day trading. On the other hand, I put my money on Bitcoin with some substantial projects, a yield farmer, and I use crypto properly.
After listening to some opportunities about the crypto market, he started to show interest. But one question he asked that why anyone invest in something that does not have an actual existence?
I was like, how can I meant him the whole ecosystem. I just answered, Here's the game. We are in the digital world where Bitcoin would be the future worldwide currency.
I told him some benefits and opportunities are having an investment in Bitcoin. I remember I googled and found some point to point benefits of Bitcoin investment.
Advantages Of Bitcoin
After showing Bitcoin's historical APY numbers, he started showing curiosity, but I was surprised that he loved the market's volatility. Usually, any newbie does not like this much volatilities, but he was like, significant volatility, many opportunities of making profits from trading. I told him the fundamentals of the Bitcoin ecosystem, how the blockchain works, how anyone can send and receive the Bitcoin just having an address. I give some Youtube videos link to watch for learning more about the crypto industry.
After one week, We again sat together to talk about the market. In this one week, he learned many things about the industry. Then he was ready to invest in Bitcoin. As I knew before that, he was a day trader; that's why in the beginning, I suggested him invest in Bitcoin for the long term. After learning about the market, you would diversify your plans and strategy.
Later on, the next day, I told him about the market exchanges, DEX, CEX, where to store, how to keep your holdings safe, etc.
I described the term "Not your keys and Not your coins." That day, I suggest some Youtube videos to watch and learn properly before investing in the market.
After two days, I brought him 100$ worth of Bitcoin, suggested that he buy when the market is in dip or don't buy at once, and buy with calculating DCA. (he was pretty good in market analysing terms)
When the market fell, I gave him 50$ worth of Bitcoin as a gift for his new journey.
In our country, After the 2011 stock market crash, the market took a long time to recover the losses. Still, most of the mutual funds are at a loss. He would diversify his income by investing in the crypto market or could get a massive return in the bull market.
Maybe it's just a start, day by day, he could be more mature about the market, and I'll constantly give him the market updates.
Post source How I convinced a Stock Trader to Invest in Bitcoin
My uncle (mother's brother) is a stock trader. He frequently trades like a day trader and invests a lot of money in mutual funds.
One day in the family gossiping, I comprised his investment plans and my investment plans. He put his money in mutual funds and did day trading. On the other hand, I put my money on Bitcoin with some substantial projects, a yield farmer, and I use crypto properly.
After listening to some opportunities about the crypto market, he started to show interest. But one question he asked that why anyone invest in something that does not have an actual existence?
I was like, how can I meant him the whole ecosystem. I just answered, Here's the game. We are in the digital world where Bitcoin would be the future worldwide currency.
I told him some benefits and opportunities are having an investment in Bitcoin. I remember I googled and found some point to point benefits of Bitcoin investment.
Advantages Of Bitcoin
- High Potential for great returns.
- Variety of Payment option.
- Instantaneous Settlement, International Transactions.
- Diversification, Greater Liquidity
After showing Bitcoin's historical APY numbers, he started showing curiosity, but I was surprised that he loved the market's volatility. Usually, any newbie does not like this much volatilities, but he was like, significant volatility, many opportunities of making profits from trading. I told him the fundamentals of the Bitcoin ecosystem, how the blockchain works, how anyone can send and receive the Bitcoin just having an address. I give some Youtube videos link to watch for learning more about the crypto industry.
After one week, We again sat together to talk about the market. In this one week, he learned many things about the industry. Then he was ready to invest in Bitcoin. As I knew before that, he was a day trader; that's why in the beginning, I suggested him invest in Bitcoin for the long term. After learning about the market, you would diversify your plans and strategy.
Later on, the next day, I told him about the market exchanges, DEX, CEX, where to store, how to keep your holdings safe, etc.
I described the term "Not your keys and Not your coins." That day, I suggest some Youtube videos to watch and learn properly before investing in the market.
After two days, I brought him 100$ worth of Bitcoin, suggested that he buy when the market is in dip or don't buy at once, and buy with calculating DCA. (he was pretty good in market analysing terms)
When the market fell, I gave him 50$ worth of Bitcoin as a gift for his new journey.
In our country, After the 2011 stock market crash, the market took a long time to recover the losses. Still, most of the mutual funds are at a loss. He would diversify his income by investing in the crypto market or could get a massive return in the bull market.
Maybe it's just a start, day by day, he could be more mature about the market, and I'll constantly give him the market updates.
Post source How I convinced a Stock Trader to Invest in Bitcoin
Jump to: