Topic: I helped my dad bought some Bitcoin last night - page 2. (Read 1006 times)
Congratulations for your dad for bought and known about bitcoin at the first time. But since your father has started a new journey in one bitcoin, you must guide your father well so that he does not take any wrong decision or action and get financially harmed. I again appreciate your father for getting attracted to Bitcoin and investing in Bitcoin at this old age.
It is commendable of you to help your father take his first steps in the crypt, but he still has a lot to learn. And here it would probably be worth starting with the fact that you should never store your coins on an exchange account, since this is very risky and anything can happen to them, from account blocking to a hacker attack. One of the previous posts was right that your father should be registered here at BTT so that he can independently study the issues of interest to him, this would greatly speed up the understanding of the essence.
Interesting topic, my friend, your father is very thoughtful, because he is very brave to invest in bitcoin, but events like that remind me of when I first invested in bitcoin. At first I used to download the application, BINANCE, and I thought that it was a game, after I asked my younger brother what game application is this? and my younger brother replied that it was not a game application, but an application for buying and selling bitcoin and crypto, and since then I was immediately interested in investing in bitcoin, and it is still running until now.
yes,,, hopefully your dad is fine investment goes well.
yes,,, hopefully your dad is fine investment goes well.
now more and more people are interested in investing in bitcoin, for example, like what your father did, and what your father did, REALLY COOL, hopefully your father's investment in bitcoin works out well. and I'm sure that now more and more people are realizing how important it is to invest in bitcoin, because investing in bitcoin will make the future bright. because bitcoin in the future in my opinion the price will be very high.
He wanted to buy using his credit card, but I rather have him buy through me instead to save fees since I can transfer USDT to his account immediately on Binance without fees and convert it into Bitcoin. So yeah now my dad has some Bitcoin in his Binance account.
Hopefully, one day he catches the BTT bug and makes an entry here to register too and speed up his learning process. 
Nice to hear the OP's story, if my dad is like you I suggest buying bitcoins and using them myself and I will teach my dad in detail how to buy and sell especially to hold them long term. But unfortunately my father is very old and can't even use a smartphone.
but I taught it to some of my family members long ago and until now, and with a record of using the money they can afford to lose. Actually this is the best way to spread bitcoins and it doesn't need to be to distant people or unknown people if there are close family or friends which I think we will be happy if they enjoy it and also easy to discuss or share ideas because we often meet.
It’s good to share the same interest with your family members, but most likely this is not what happening in most of us. Some are just hesitant to trust bitcoin and take the risk in investing, while others are very supportive on whatever their family members are into. I’m just glad that at the end of the day, OP’s dad finally decide to trust and invest in bitcoin. With the utmost help from his son, I guess things will be quite easier for him in the crypto investment even if it means he’s a completely newbie in crypto investment. but I taught it to some of my family members long ago and until now, and with a record of using the money they can afford to lose. Actually this is the best way to spread bitcoins and it doesn't need to be to distant people or unknown people if there are close family or friends which I think we will be happy if they enjoy it and also easy to discuss or share ideas because we often meet.
It's interesting you sold Bitcoin to your dad lol (just fund fact). Anyway good to see your dad convince himself to buy Bitcoin. No doubts your dad choose a good exchange but don't encourage him to hold Bitcoin there. Even if you teach him about 2FA and potential risk, but better teach him about non-custodial wallets like Electrum or hardware wallet. Not sure how big the amount but better practice good things. Binance is good for trending, not for holding.
That is a great insight. Although he guided his dad to set up the 2fa and kyf and made his account more secure, but yet it is not 100% safe. I am of thr opinion that his dad may have a plan to invest huge money into bitcoin, maybe part of his life savings. That is why Op needs to teach him everything, especially about private wallets where he will own his keys and control his funds. If you don't teach him all he needs to do, at some points you may not be available for him to ask some questions and he will try to handle things himself and makes mistakes. Teach him No your keys no your coins.
When I got home last night, my dad and I are eating some chicharon a.k.a. pork rinds while watching basketball on TV. Then suddenly my dad showed to me his iPad about Binance to check if its legit or not. I said that it’s legit once he installs the correct app and not the fake one.
I thought he just wanna install it and explore, but he seriously wants to buy some Bitcoin with his extra money that he didn’t need for now. He just wants to try buy and hold Bitcoin. He already knew that I am in this industry for a long while, but yeah it’s never too late for him to buy his first Bitcoin.
I have never convinced or forced him to buy BTC since I started my journey. He’s just being interested in all of a sudden that’s all. So I educated him about the basics, managing financial risks, fees, etc., letting him understand and acknowledge that there are no promises or astronomical guaranteed returns. I also sign him up on Binance using my referral link and assisted him in setting up 2FA, KYC, etc.
He wanted to buy using his credit card, but I rather have him buy through me instead to save fees since I can transfer USDT to his account immediately on Binance without fees and convert it into Bitcoin. So yeah now my dad has some Bitcoin in his Binance account.
Congrats on both of you as you made it finally seeing your father already investing in bitcoin. Though it’s not you that get to convinced him, but I’m glad that he ended up trusting in bitcoin which for sure he will never regret in the future. I guess there will be no problems in the future as long as your father never decides on his own without consulting on you first. Just guide him all the way, I’m sure you’ll be happy seeing your father also in profit in the future, same feeling when you started first in bitcoin. I thought he just wanna install it and explore, but he seriously wants to buy some Bitcoin with his extra money that he didn’t need for now. He just wants to try buy and hold Bitcoin. He already knew that I am in this industry for a long while, but yeah it’s never too late for him to buy his first Bitcoin.
I have never convinced or forced him to buy BTC since I started my journey. He’s just being interested in all of a sudden that’s all. So I educated him about the basics, managing financial risks, fees, etc., letting him understand and acknowledge that there are no promises or astronomical guaranteed returns. I also sign him up on Binance using my referral link and assisted him in setting up 2FA, KYC, etc.
He wanted to buy using his credit card, but I rather have him buy through me instead to save fees since I can transfer USDT to his account immediately on Binance without fees and convert it into Bitcoin. So yeah now my dad has some Bitcoin in his Binance account.
It's interesting you sold Bitcoin to your dad lol (just fund fact). Anyway good to see your dad convince himself to buy Bitcoin. No doubts your dad choose a good exchange but don't encourage him to hold Bitcoin there. Even if you teach him about 2FA and potential risk, but better teach him about non-custodial wallets like Electrum or hardware wallet. Not sure how big the amount but better practice good things. Binance is good for trending, not for holding.
That is a great insight. Although he guided his dad to set up the 2fa and kyf and made his account more secure, but yet it is not 100% safe. I am of thr opinion that his dad may have a plan to invest huge money into bitcoin, maybe part of his life savings. That is why Op needs to teach him everything, especially about private wallets where he will own his keys and control his funds. If you don't teach him all he needs to do, at some points you may not be available for him to ask some questions and he will try to handle things himself and makes mistakes. Teach him No your keys no your coins.
Wow, that is a good one to hear, because your dad accept changes and understand that we are na into digital world in Era of technology, which he adopted into the system, that is a smart move of him, and also a privilege to have a son that is into cryptocurrency industries, which has added advantage to him to start investing on bitcoin.
It's great to know that older people are interested in bitcoin and crypto as well, I always thought that only younger generations have a passion for bitcoin as majority of older people tend to prefer stability and not likes to accept new things.
Can you tell me how old is your father? because it's amazing that he did everything himself before talking to you to buy bitcoin even he found and downloaded the official binance app. For my dad, using smartphones is also very difficult because of his old age, let alone using them to engage in cryptocurrency.
Can you tell me how old is your father? because it's amazing that he did everything himself before talking to you to buy bitcoin even he found and downloaded the official binance app. For my dad, using smartphones is also very difficult because of his old age, let alone using them to engage in cryptocurrency.
When I got home last night, my dad and I are eating some chicharon a.k.a. pork rinds while watching basketball on TV. Then suddenly my dad showed to me his iPad about Binance to check if its legit or not. I said that it’s legit once he installs the correct app and not the fake one.
I thought he just wanna install it and explore, but he seriously wants to buy some Bitcoin with his extra money that he didn’t need for now. He just wants to try buy and hold Bitcoin. He already knew that I am in this industry for a long while, but yeah it’s never too late for him to buy his first Bitcoin.
I have never convinced or forced him to buy BTC since I started my journey. He’s just being interested in all of a sudden that’s all. So I educated him about the basics, managing financial risks, fees, etc., letting him understand and acknowledge that there are no promises or astronomical guaranteed returns. I also sign him up on Binance using my referral link and assisted him in setting up 2FA, KYC, etc.
He wanted to buy using his credit card, but I rather have him buy through me instead to save fees since I can transfer USDT to his account immediately on Binance without fees and convert it into Bitcoin. So yeah now my dad has some Bitcoin in his Binance account.
I thought he just wanna install it and explore, but he seriously wants to buy some Bitcoin with his extra money that he didn’t need for now. He just wants to try buy and hold Bitcoin. He already knew that I am in this industry for a long while, but yeah it’s never too late for him to buy his first Bitcoin.
I have never convinced or forced him to buy BTC since I started my journey. He’s just being interested in all of a sudden that’s all. So I educated him about the basics, managing financial risks, fees, etc., letting him understand and acknowledge that there are no promises or astronomical guaranteed returns. I also sign him up on Binance using my referral link and assisted him in setting up 2FA, KYC, etc.
He wanted to buy using his credit card, but I rather have him buy through me instead to save fees since I can transfer USDT to his account immediately on Binance without fees and convert it into Bitcoin. So yeah now my dad has some Bitcoin in his Binance account.
Good to see a father and son doing some quality bonding on investment. Hopefully you keep an eye on what your father do and also frequently tell him about scamming methods made by some people also make him understand that people who offer something on social media especially who tell them that they are trading expert and they can also earn with them if he invest some amount are 100% scam. Make him realize that there no free things on internet and no random people will help you to earn so that he can avoid such people who promise heaven and earth to him.
When I got home last night, my dad and I are eating some chicharon a.k.a. pork rinds while watching basketball on TV. Then suddenly my dad showed to me his iPad about Binance to check if its legit or not. I said that it’s legit once he installs the correct app and not the fake one.
Do you want to tell me that it seems you don't forum from the beginning to now that you're here remember that I have not heard of binance exchange before I think this is totally lie because for you to be a member of the showroom you have known by nonsense because if you go to altcoin bored every discussion that lead to buying and selling or bitcoin always narrow to The binance exchange so I think that's not true I don't understand what you mean. Very confusing.
It seems that you misunderstood the topic here. Perhaps you might want to re-read it again.
It's interesting you sold Bitcoin to your dad lol (just fund fact). Anyway good to see your dad convince himself to buy Bitcoin. No doubts your dad choose a good exchange but don't encourage him to hold Bitcoin there. Even if you teach him about 2FA and potential risk, but better teach him about non-custodial wallets like Electrum or hardware wallet. Not sure how big the amount but better practice good things. Binance is good for trending, not for holding.
I sold USDT instead and then convert it into Bitcoin in his own Binance account.
I feel so good when old person comes to me and instead of asking about Bitcoin price, directly saying he/she wants to buy Bitcoin. There are so many easier options now. Binance TR especially has many support from many banks in Türkiye so you can trade 7/24 nearly, very very easily. My mum also uses binance and one more local exchange. She holds Bitcoin since like when? it was like 10.000 usd I think when she first bought.
Fantastic, It may turn out to be a good retirement plan in the near future. Nevertheless, to have a total control of his bitcoin, I strongly advise you walk him through a decentralized wallet and have him withdraw the btc to a backed up private wallet.
It's interesting you sold Bitcoin to your dad lol (just fund fact). Anyway good to see your dad convince himself to buy Bitcoin. No doubts your dad choose a good exchange but don't encourage him to hold Bitcoin there. Even if you teach him about 2FA and potential risk, but better teach him about non-custodial wallets like Electrum or hardware wallet. Not sure how big the amount but better practice good things. Binance is good for trending, not for holding.
I assume that your father is not too old to learn about internet finance which at least requires basic skills to operate electronic devices in non-native languages. Unlike parents in some parts of the world, where it's impossible to teach bitcoin basics overnight (my parents included).
I quite appreciate your father's will and I hope he will always listen to your advice on what to do next with his funds (he seems to be stubborn, lol).
I quite appreciate your father's will and I hope he will always listen to your advice on what to do next with his funds (he seems to be stubborn, lol).
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In all life aspects, he’s a close minded person. When we have suggestions to him from time to time, he never listened ever since we were kids.
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Like when he runs traditional businesses back then and failed, he never listened to our ideas that would clearly change the game, but he just wants to stick to what he know and wants.
In all life aspects, he’s a close minded person. When we have suggestions to him from time to time, he never listened ever since we were kids.
-snip-
Like when he runs traditional businesses back then and failed, he never listened to our ideas that would clearly change the game, but he just wants to stick to what he know and wants.
I did opened up to him about moving it to non-custodial Bitcoin wallet if he wants to store and not trade, but he chose to stick with Binance. So it's his decision anyways, so I should respect that. He is illiterate in crypto as a baby boomer & senior citizen.
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It's just his own instincts that he only wants to buy Bitcoin.
That's too bad, considering initially there was a full plan:~
It's just his own instincts that he only wants to buy Bitcoin.
He just wants to try buy and hold Bitcoin.
Now he only did the first part.Maybe you can show him some of the many hacks that happened to exchanges in the past, in which people lost their Bitcoins. I wouldn't trust a Chinese website with my money for a long time.
Congratulations on your father's first successful Bitcoin purchase that you taught him, but you must monitor your father so that he is not exposed to other bad news that makes him sell again so this needs to be done so that your father can maintain bitcoin for a long time.
This is the right buy because when the market is going down and it's said to be low at 20k, especially with the extra money that is never needed then I think your dad can hold on longer with what he wants in investing in Bitcoin.
This is a great decision actually as your father aims to invest first his money rather than just saving it plainly in a bank. And definitely, when the market is bearish, it will always be a good entry in crypto investments. I just hope OP that you will continue to guide your father and expose him on the negative side of crypto investments so that he will not be a naive on that. And by making DYOR most of the time, your father will never end up in wrong decision making that will make him lose his investments.This is the right buy because when the market is going down and it's said to be low at 20k, especially with the extra money that is never needed then I think your dad can hold on longer with what he wants in investing in Bitcoin.
It is very good if your father wants to try Bitcoin investment with his own will. I also expect that someday there are my family parts asking me to help them in crypto investment. I do the same, I never tried to force any of my family parts to invest in Bitcoin or Altcoins. They know I am a part of crypto business, but still no one is interested to follow me until now. I guess you are in a country that legalizes crypto both for investment or payment purpose, that's why it seems easy for your father interested in crypto investment. You are lucky, dude!! 
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