Which of your friends and relatives deals with bitcoin? - page 4.

darewaller

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Quote from: Cryptomiles1 on March 21, 2023, 05:26:16 AM

Quote

He explained to me how to register on the exchange, how to buy and sell, everything was clear and I started trading a little, at first my friend helped me, then I started doing it myself. I always kept all my coins on the exchange.

Do you stop trading after knowing it's not good to leave your funds in exchange and then you moved your to ledger wallet. How do you go with the trading you learned from your friend and uncle you stopped everything after you noticed isn't pretty cool leaving your funds in an exchange or were you also moving your funds between like whenever you want to trade you send back to exchange and after you finished trading you take out from the exchange to your wallet. How do you manage to figure it out or after discovering this forum you quit trading entirely?

There is nothing wrong in trading so he shouldn't stop as long as he is doing great with his trades but he might only need to withdraw most of his assets to a wallet that he totally controls, just in case there is an unexpected problem that will occur on that exchange.

I wouldn't advice to pull out all of our money and then deposit them again by the time we do a trading especially if we are an active trader because that seems hassle and will cost us more money for the transaction fees. We can learn or get information from other people but it shouldn't stop there. We can continue exploring and learning on our own, to help improve our trading performances.

Japinat

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Quote from: ringgo96 on March 21, 2023, 08:16:11 AM

If the problem of Bitcoin many of my relatives already know about Bitcoin but they do not know how to use Bitcoin and only know its value is very fantastic, but I want to explore Bitcoin since I first heard about the crypto world and I am interested and until now have invested in Bitcoin and other altcoins that do have potential, And there are some of my relatives who are currently following in my footsteps and whatever I know about Bitcoin I will tell them, and right now they are starting to be interested in investing in Bitcoin.

That's good mate, it's been always a good thing to plant the seeds on their brain that there are cryptocurrencies exists especially bitcoin who is leading the market now and it will make a big impact to the economy soon enough. I just want to add though, do not forget that there is a limit on what we can feed to them because naturally, they should be able to understand what they are doing and that is to have their own research. We cannot be telling them everything they want to know because up until now, we're still at the learning phase and that will never stop, so it's up to them if they will chase what they lack or maintain from being fed by your knowledge.

BD Crypto

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Quote from: juhobtc on March 20, 2023, 07:32:17 AM

I hope this will be useful for those who still store bitcoins on the exchange, you should think about security and hold your coins on hardware wallets.

I totally agree with the OP as you described your Bitcoin Journey and said that you are now using a hardware wallet. I have also concern about my privacy that's why I always use 2FA authentication in my wallet. If a new user want to buy Hardware wallets then I will say invest in Bitcoin and use online wallets if you have a little amount of Bitcoin. If you have a good amount of Bitcoin then it's worthy to buy Hardware Wallets.

juhobtc

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Quote from: AmoreJaz on March 21, 2023, 06:04:42 PM

how i look at CEXs, is that you trade on them and get out your funds as soon as you can. so the relationship is just very short. but sometimes there are other services such as staking or flexible savings like binance has. but as much as possible, if you want to avail other financial services, make sure it is very reputable as you can easily lose access of your own funds. if you are just doing the trading, better withdraw your money as soon as you finished the trade.

I see bloggers who show that they earn good money with the help of stanking on the exchange, for this they have to keep a lot of money on the exchange, I think this is too stupid.

By the way, my friend, who taught me to trade, constantly keeps some funds on the exchanges, since he is an active trader. I sometimes tell him about risks, but he tells me that there are always risks, but since he is an active trader, he is forced to do just that.

Ahli38

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now many of my family members are involved with bitcoin and cryptocurrencies. Even my younger siblings and older siblings have also been involved for a long time since last year. and now some of my neighbors are also heavily involved with bitcoin and crypto. The point is that my environment is now filled with people who are interested in bitcoin and many of them are already involved in trading or investing in bitcoin.

At first I didn't introduce him directly. I only answer when someone asks. maybe the turning point is that since long ago I made pumpkin soup where in the soup there were lots of pumpkins which I carved into bitcoin symbols. at that time I shared some pictures on my social media and some friends and neighbors saw them.
since then each of them often asked me. but my brother and sister were involved earlier before then. but more of my friends and neighbors became interested from then on.

unconsciously now many are familiar with bitcoin in my environment. it grows by itself. a little spark turned out to be able to bring about a fairly rapid change.

qwertyup23

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Quote from: nimogsm on March 21, 2023, 05:54:07 PM

Quote from: wxa7115 on March 21, 2023, 12:23:14 AM

Quote from: nimogsm on March 20, 2023, 09:08:07 AM

I learned everything myself because there was no one in the environment who could tell me something.But then I became the one who helped my friends and relatives sort out some issues related to crypto,and I’m even glad when they turn to me for help,because I remember how difficult it was for me.So if someone asks you for help or advice,always help and maybe the person who received the knowledge will pass it on.

I am just like you, I had to learn everything on my own as there was no one close to me that was interested on bitcoin at the time and I had to make a lot of mistakes to learn everything that I know now.

The difference is that I then tried to help others to adopt bitcoin and no one was interested, so I gave up long time ago, sometimes I get a question about bitcoin, but as you may guess they are only interested in the price and not on what makes bitcoin great, so I prefer to not reveal too much as I have the feeling that if they invest in bitcoin and they lose their money they will blame for their loss.

Oh, how I understand you!in the company of friends they ask me more often only about the price of what I suggest they look on the Internet if they are interested.And they ask some stupid questions about how many bitcoins I have and stuff like that)I can only help those who are really interested in something and are trying to figure it out themselves and can answer a question that they really do not understand.

Well if they are only asking questions, you can provide them simple answers. If they are truly curious about cryptocurrencies and they show interest in general, then that is the time that you explain them in detail based on your knowledge on this topic.

Before, I used to preach at least to my friends the power of this forum. Each day, I tell them that there is the opportunity of knowing the future of transactions- cryptocurrencies has the potential of becoming one of the largest asset in the future.

Unfortunately, only a handful amount of my friends returned the same interests that I have. As far as I know, only one (1) of my friends created an account and taken advantage of this knowledge but I consider it as a win on my part.

AmoreJaz

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Quote from: juhobtc on March 21, 2023, 02:50:07 PM

Quote from: jeraldskie11 on March 21, 2023, 07:34:52 AM

That's not the only risk you will face if you continue to use CEXs. If the exchange is hacked it is possible that hackers will use your identity against you. That's what happens to C.T, it's a real story and you can see more details here: What happens when your identity is stolen -- real story || Avoid CEXs!

That's why if you're only going to hold assets, it's better to put them in a hardware wallet or a software wallet where only you knows the private key.

Yes, the loss of personal data can be a big problem and bring a lot of trouble. So far, there is a CEX without mandatory verification, you can still use them. But such exchanges are also not suitable for storing our coins there, no one exchange should inspire confidence in you.

how i look at CEXs, is that you trade on them and get out your funds as soon as you can. so the relationship is just very short. but sometimes there are other services such as staking or flexible savings like binance has. but as much as possible, if you want to avail other financial services, make sure it is very reputable as you can easily lose access of your own funds. if you are just doing the trading, better withdraw your money as soon as you finished the trade.

CODE200

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Quote from: ringgo96 on March 21, 2023, 08:16:11 AM

If the problem of Bitcoin many of my relatives already know about Bitcoin but they do not know how to use Bitcoin and only know its value is very fantastic, but I want to explore Bitcoin since I first heard about the crypto world and I am interested and until now have invested in Bitcoin and other altcoins that do have potential, And there are some of my relatives who are currently following in my footsteps and whatever I know about Bitcoin I will tell them, and right now they are starting to be interested in investing in Bitcoin.

Its to share what you have know about bitcoin to your reletaves and im glad they dont doubt what you are doing with your money. I guess you explained it very well to them. In my case I know bitcoin because of my classmate during my Senior High Schools days, he introduced it to us during our breaktime. After the class and we went home, I started searching and looking for information about it. Till I slowly understand what it is and how it works. Then I started introduced it to my bestfriend and now we are both in the crypto space hustling. when I introduced it to my relatives its hard for them to understand well bitcoin. They just know that its has a huge value as of now, they cant see the opposite site or the risk in it like the possibility that it will drop like other crypto.

nimogsm

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Quote from: wxa7115 on March 21, 2023, 12:23:14 AM

Quote from: nimogsm on March 20, 2023, 09:08:07 AM

I learned everything myself because there was no one in the environment who could tell me something.But then I became the one who helped my friends and relatives sort out some issues related to crypto,and I’m even glad when they turn to me for help,because I remember how difficult it was for me.So if someone asks you for help or advice,always help and maybe the person who received the knowledge will pass it on.

I am just like you, I had to learn everything on my own as there was no one close to me that was interested on bitcoin at the time and I had to make a lot of mistakes to learn everything that I know now.

The difference is that I then tried to help others to adopt bitcoin and no one was interested, so I gave up long time ago, sometimes I get a question about bitcoin, but as you may guess they are only interested in the price and not on what makes bitcoin great, so I prefer to not reveal too much as I have the feeling that if they invest in bitcoin and they lose their money they will blame for their loss.

Oh, how I understand you!in the company of friends they ask me more often only about the price of what I suggest they look on the Internet if they are interested.And they ask some stupid questions about how many bitcoins I have and stuff like that)I can only help those who are really interested in something and are trying to figure it out themselves and can answer a question that they really do not understand.

JoyMarsha

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My friends do deal with bitcoin, but none of my family members do. Even the few of my friends who deal in bitcoin have poor investment skills. Out of fud, they sell their bitcoin. I can count on one hand the number of times I've been able to explain bitcoin to my friends such that they could grasp it and participate in long-term investment plans, but rather they've always declined because they believe bitcoin to be a bubble that will soon burst. They don't need to wait around for too long.

panganib999

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I have a friend group that's basically formed because of bitcoin and cryptocurrency. I started with bitcoin in 2015, told about some of my friends about it as early as my first big paycheck. Since then the circle grew, became small after a couple of the people I know stopped trusting the process (I fucking sound like a motivational speaker on tiktok but here goes) and it ended up with what I have now. A solid friend group that went past bitcoin and crypto.

At first, I know the relationship was substantial, given the fact that we were connected by promise of profit and all that, but time fortified the friendship and became what it is today. I'm always going to be thankful for these guys.

sulendra12

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Quote from: juhobtc on March 20, 2023, 07:32:17 AM

~snipped~

Always nice to see your friends and your family working together with you to give you important information regarding Bitcoin and Altcoins, also stumbled into this forum. Welcome!
Having those people in your crypto journey is really great especially if you want to talk and discuss about what to do and what to trade later with them, always great to have some discussions especially with your close relatives.

It's also right that it's not really a good idea to store your money into exchanges, since you are just let them hold your money in their hand. If the website get hacked or down, then your funds are in trouble.

juhobtc

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Quote from: jeraldskie11 on March 21, 2023, 07:34:52 AM

That's not the only risk you will face if you continue to use CEXs. If the exchange is hacked it is possible that hackers will use your identity against you. That's what happens to C.T, it's a real story and you can see more details here: What happens when your identity is stolen -- real story || Avoid CEXs!

That's why if you're only going to hold assets, it's better to put them in a hardware wallet or a software wallet where only you knows the private key.

Yes, the loss of personal data can be a big problem and bring a lot of trouble. So far, there is a CEX without mandatory verification, you can still use them. But such exchanges are also not suitable for storing our coins there, no one exchange should inspire confidence in you.

ringgo96

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If the problem of Bitcoin many of my relatives already know about Bitcoin but they do not know how to use Bitcoin and only know its value is very fantastic, but I want to explore Bitcoin since I first heard about the crypto world and I am interested and until now have invested in Bitcoin and other altcoins that do have potential, And there are some of my relatives who are currently following in my footsteps and whatever I know about Bitcoin I will tell them, and right now they are starting to be interested in investing in Bitcoin.

jeraldskie11

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Quote from: Ever-young on March 20, 2023, 08:49:37 AM

#Not your key not your coin" is one thing that's strongly preach across this forum warning users the danger against not having control over your assets.

That's not the only risk you will face if you continue to use CEXs. If the exchange is hacked it is possible that hackers will use your identity against you. That's what happens to C.T, it's a real story and you can see more details here: What happens when your identity is stolen -- real story || Avoid CEXs!

That's why if you're only going to hold assets, it's better to put them in a hardware wallet or a software wallet where only you knows the private key.

bitzizzix

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I regret not knowing about bitcoin before I did in 2017, because I have a few friends who have known bitcoin for a long time and they often talk about it when we get together. And my mistake at that time was because I didn't care nor was I curious about what they were talking about, which in the end I questioned what they were talking about and that's where I started.
and i consider them very special friends because if it wasn't for them i would not have known bitcoin until now and it also made my life change drastically especially in financial matters, and the matter of keeping bitcoins very secure is a must. And even though we don't get together very often, we do keep in touch or communicate well and still frequently discuss issues related to bitcoin and others.

Z-tight

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Quote from: Cryptoababe on March 21, 2023, 05:53:23 AM

The Thread you found about bitcoin is right. The fact is everything about bitcoin works out. Its just like a magic. Although, there are always different kinds on obstacles on the way. But it will later work out.

BTC is a currency, and i don't know the 'obstacles' you are talking about, but you can spend it at anytime, you just need someone who wants to buy, or a merchant that wants to accept it as payment for what you bought. The talk of BTC works like magic feels like a statement that one can get rich quick if they buy BTC, i'm sorry but that is not correct, while the BTC network works anytime for spending, if you are speculating with its price you have to wait for the long period, it does't rise like magic.

Edwardard

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As most of the people got their stories, mine is somewhat similar. None of my relatives deal in bitcoin but everyone knows about it for sure. They are all just too afraid of the volatility (just like all average mentality ppl in the world).
Actually, we all should fee lucky that we found interest in bitcoin in the first place. Not much ppl can begin to start loving it, lol

DapanasFruit

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Based on my own experience with cryptocurrency, I never got any friend that was involved with it. What happened is that many of my Facebook friends were into and that is when I took notice. Unfortunately, my first crypto was a big scam called as TBC or The Billion Coin which we learned later got no blockchain platform of its own. Oh well, then I got into Ponzi-type of programs where I earned some and lost some. Of course, I now learned the big lessons of never trusting anybody online specially if a program is seducing me with greed.

Inwestour

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Quote from: yhiaali3 on March 21, 2023, 05:22:58 AM

I learned everything on my own and later I brought the knowledge to my friends and family, at first they did not understand anything about Bitcoin and many of them did not believe that money can be made through this unknown thing.

Now the knowledge about Bitcoin has started to increase around the world and everyone is interested in knowing everything about Bitcoin. I think we may reach adoption in a few years.

Something similar happened to me, I had to learn everything myself, and still only a few of my family know that I invest in bitcoin. Each has its own history and all of them are interesting in their own way.

OP, you are lucky to have someone who pointed you in the right way from the very beginning, because the world of cryptocurrencies is very large and it is very easy to get confused in it for those who take their first steps in it.

Remember one more important lesson, money loves silence, try to let as few people from your environment as possible know about your investments, this will not be superfluous for your own safety.

Topic: Which of your friends and relatives deals with bitcoin? - page 4. (Read 739 times)