Bitcoin Forum

I just want to share my experience, I have a relative who come to me and ask advise on what coins to invest now, I don't name a coin and I said he must do his research but he insist that I know, he want to invest immediately.

I know he is into FOMO because he seems so aggressive and like to get instant return.
He told me that since I'm a veteran, he would like to ask some advise on what coins will pump in the coming days so he can invest on it.

I knew he is so positive, and I can feel him since I also got FOMO'd before.

What do you think should I do guys? how can I help him?

Is there any other reason why he's currently FOMO-ing? Is he in need of immediate money or is it because of the bull run?

Expecting instant returns is just a spell for trouble. He's just going to get emotional and once he experiences a market dip, he won't be ready for it and might make him choose bad decisions. He might be better of on investing on something else, like investing on himself.
Personally, if I were in your position I would give him the tools to check out what coins have good potential. I teach them what are the indicators to check out, what red flags to watch out for and give them my sources. I too have a lot of friends asking for this kind of advise and I'm very cautious of what I say. In the end, its their money not mine.

That's an easy one.

Bitcoin and only Bitcoin.

look for coins that have passed the test of time (still active and prospering)

find out their mining costs and then look at their prices.
bitcoin is about 3x its mining cost and about 1.7X its utxo movement sentiment.
so its a bit 'bubbly'(inflated) right now.

other coins which are at their dip/crash are probably better.

so its just a case of playing the BUY LOW sell high game

never buy at the peak. never

Bitcoin is always trusted cryptocurrency so it is suitable for all the time. But it is decentralised platform so anytime it will change the market value in crypto platform. Number of altcoins are available in the market so we plan to pick the use huge volume of crypto currency and fix the ratio of our trade limit. I hope better analyse some convenient platform in every trade.

It's hard if he just wants an instant return on the investment suggested so I think they FOMO is in his soul so he wants to be more instantly looking for what he wants.
Remember it is not easy to invest in coins that will be pumped in the future, of course we need a strong analysis in this case if they remain FOMO then it will damage their mentality if it is true that the coins invested have decreased, therefore the best advice while doing daily trading is him. will know how to take good action not just buy low - sell high.

You should ask him if he’s for long term or short term. Long term hold will not be a problem, just make sure that you pick the coins with potential or has product already. Short term investment could be difficult unless you had a good strategy that you can share with him.

Go ahead, as long as there are efforts with qualified funds, what else can be a headache

What I did when asked is to say I can't give advice as I have done very badly myself (which isn't really lying -- the ICOs or alts I did choose to invest in before have more or less flopped, if not completely died). Then they know you're not the best person to ask.

Better to disappoint them now like this than to commit to something that might lose them money later. Relationships sour when involved with financial decisions. Trust the boomer here.

He must invest in some promising projects that have development in the short term, for example, Eth, Cardino, and Dot are good projects for those who intend to invest in the medium term.

Long-term investment is linked to bitcoin, which seems to be the best time to sell and not enter the market. Ask him to wait for several months and we might see the bitcoin price at 20,000 or 30,000.

But if he wants to speculate, he must follow the news and things that may happen to currencies soon.


in short, let him invest in his mind (learn bitcoin, crypto, private keys, speculation) more than trying to make fast earing from bitcoin

I've had the same but not with relatives, with friends. I didn't give them any advice on what to buy or what to do, only explained them a few basics on how to navigate and use an exchanged and helped them set up an account on Binance.

Guess who they are going to blame if they lose their money, you. They will blame their ignorance and your mistakes on you. Do not get involved if you can avoid it. If you can't perform what I did. You'll get in trouble if you tell them to buy BNB for instance, and then it crashes.

Everybody is responsible for their own finances & what they invest in. You can advise him but bitcoin is still very volatile & only the strongest of us can HODL through multi year bear markets. Explain to him bitcoin goes in 4 year cycles, he better hurry up if he wants to get in on this bull market though.

My advice, don't give out advice. Or at the very least tell them they are better off not investing, you won't be blamed if there is a bigger correction.

I have relatives like that too and I would just say I don’t give investment advice. Basically back when BTC was like $3K back in 2017, people asked if they should buy. I told them no and wait until it goes back to $1000 and buy then because $3000 is too risky.

It went up to $20000 and they were upset I stopped them from investing. Then when it went from $20K they invested at $16K and obviously we knew what happened next. And they were still pissed at me that it went down to $6K and they sold at a loss. They are mad because I told them not to buy at $3k so instead they bought at $16K and ended up selling at a loss at $6K.

Best is never give any investment advice on cryptos.

If I were you in the same position I would just tell them what cryptocurrencies I am currently holding but I would specifically say that I don't know if it is the right time to buy since "the ship has already sailed". After that I will tell him that this isn't the right time to buy were people like him have only got their attention towards cryptocurrencies when it already went up. I'll tell them after that if you want to invest in general you buy your position when it is not yet making any noise as this is the best time to buy it cheap and has the biggest chance of growth, buying now will only make your holding in a bad position as not only you don't have any margin of safety you don't also have any guarantee that it still go up. @OP just give him several warnings about the risk on investing at this moment so he is properly warned before risking his money.

I advise anyone to

1. Understand bitcoin
2. Understand how to protect their assets (keys,wallets,hot,cold)
3. Understand that it can go down just as fast as up
4. You must be prepared to wait 4 years for it to pay off
5. They can be stolen
6. Invest only with money you are prepared to lose

I help them with those questions and if they still want to do it they can do it by themselves...
I never take responsibility for their actions or losses....

I've had this happen to me too, had friends who were bugging me last year to invest into Bitcoin, I never gave them any advice because I didn't even want to bother, I didn't actually think they were actually capable of understanding the whole concept. After surpassing $40.000-$50.000, I was accused of not giving them advice in the past.

The best thing is to hold a neutral point of view, advise them where to look to find information but never give out any advice. It's guaranteed that it will lead to trouble. If they are capable of understanding the concept of cryptocurrency and investing, they won't ask for investment advice nor blame you for their losses. They'll find a way to learn by themselves.

You have said the right thing to research first. People who just know crypto and saw it gains will really find a shortcut and ask people that have been here for a long time.

But telling random coin or based from your opinion on which coin they should invest with might even put you to a fight in the future with them. Because they might regret that they've followed your opinion if the coin you've suggested starts to drop.

They should at least know the thing they're investing and that's the best suggestion that you've given.

Make sure they don't blame you when you give an advice, and please tell them to educate themselves first and not just rely on someone's call. The market is very unpredictable, it's not bullish every time, what if your relatives will get caught in a bearish market and the price will continue to dump that could cause a panic?

That's why I don't give an advice on what project or coin to invest, but I give an advice on how to know or study a particular projects or the crypto market in general.

The same on me, the reason why I didn't give some advice to anyone because I am afraid that someday they will come back and blame me for their losses. The thing that I don't want to happen.

Explain to your relatives very well how bitcoin will work and invest only in bitcoin, nothing else. Altcoins and other defi projects need to have a dig deep research so will I guess your relative will hard to understand.

There are too many crucial things to understand before investing in crypto, you must explain it first include the risk that brings while investing.

I don't like the word "investment" related to Bitcoin and other cryptos in general. Unless you know how the cycles of Bitcoin work and you are fully aware of how your money can take up to 5 years to start making more money, the word "investment" is vicious. We all know that Bitcoin is high now. Is it going to go higher? Nobody knows. But we do know that at a certain point we will see a huge correction and Bitcoin may drop to 50/60% of its highest value.

People willing to "invest" money usually expect to have returns in the short term. They can handle 6/12 months of ROI, but can they wait until 2025? So you probably can explain to your relative that in 2013 many people bought Bitcoin at 1800 USD and then watched it dump to 300. Also how many people got on board in 2018 at 19000 USD to see it go to 3000 USD in a couple of months.

Those who were able to hold their coins probably made really good money. Is your relative willing to take that risk? 

As an experienced person in crypto by now, you should able to answer this by yourself.

Instead of "what should I  do?", the question is, are you really willing to share your knowledge to?

Tell them everything you got then that's it, you already did your role. Further knowledge should now be learned by them.

Well, I know it's easy if someone ask us what crypto could be the best invest to. The answer will always gonna be "Bitcoin".

I also have a sister in law who has been quite earning some good cash with her profession and small business and asks me what's good to invest. I said Bitcoin and walk her through from buying Bitcoin to creating a good wallet and hold. She had her doubts, Btc was trading at $8,000 during that time, so I didn't bother to push her to invest as I don't want to become the blame whenever she didn't meet her expectations.

You see, It's always going to be easy for us If someone ask us, but never easy for those who ask. Because they don't know what Bitcoin is capable of.

This is advice already imo though? Now if he keeps pushing that you know, then bloody hell just straight tell him that you ain't any god or something. It's kinda stupid to expect a trader to know about every coin out there, it'd be different if it was one of the top 10 coins, but if not? Then that's just that.

Once you find your coin though, just share your experience. Probably give a lesson about terms and such to remember so that he knows what they do and probably understand what terms mean when he looks it up for himself. That's it. Experience and knowledge are your best bet to actually teaching someone, though it doesn't necessarily guarantee that they learn. It's all up to them to actually learn.

If he is the one insisting, then point him to old coins which proven it's profitability inn the market, you can give or send Bitcoin, Ethereum Binance Coin or any of the top 10 coins here in the market, don't refer him to new coins he might get burn and lose his interest to invest, he will eventually invest in new coins when he knows how to research.

Tell him this isn't a quick trade, and that any money he puts in he shouldn't even think about taking out for at least 4 years. And he should only buy, not trade.

And tell him to stick to Bitcoin mostly, explain to him that it is hard money and that is where he should put any money he doesn't want to risk and wants to grow in value. Nothing else in crypto is hard money, the rest are all risk investments, and only Ethereum holds a solid position outside bitcoin in the market.

Basically something like this:

80% or more bitcoin
20% or less ether


On altcoins:
A small amount of altcoin investments can come later, but only after he has a good understanding of the market, so really he shouldn't even think about altcoins for  at a least a couple years. Most people who get all into some altcoin do it because they think it is "better tech" than bitcoin or ethereum and it will replace one of those two. This is stupid. They don't realize their coin is a s**tcoin that nobody cares about because the only thing that matters is the network effect.

Obviously, if you advice him not to invest in bitcoin, then you are not giving good advice. You should tell him that there is no need of fomo and the return on investment will not be instant. Also you should tell him that be prepared that after his buying, the market may dump. If he want to invest for long term, then he will never have the loss.

The nature of your relative is very crucial. He can't be asking in a rush. Rushing into cryptocurrency investment is risky and to FOMO is another part. Is better you explain this to him. You can't predict quick returns in crypto businesses, although there are coins like that but you can't say exactly the time for bull. If he bought btc around April and May, then he would have been lucky. Maybe you can encourage him to be patient for longtime investment and you suggest coins at the top.

2 options.
Either you just want to say to him that he must invest into Bitcoin or the other one which is let him invest into some other altcoins and let him feel the feeling of being FOMO'ed, of being lost in an investment.

A typical kind of investor who is just asking which coins to invest into a person which in involve in crypto for a long time. In your question how can you help him. You may want him to invest into either Bitcoin or Ethereum if he doesn't want to research. Just say the risks, consequences of it so that at least he is ready if the worst possible scenario will happen especially now that Bitcoin is at its peak right now and possible Ethereum too.

You can suggest him to invest in bitcoin. But he should not buy bitcoin at once because that can be too risky for him.
Maybe he can invest in bitcoin weekly or monthly, so he will not have to worry about the price fluctuating and only hold his bitcoin for some time.
After he invests in bitcoin, you can tell him about when he can sell his bitcoin and tell him not to panic about the price that will always change.
You can also suggest that he invest in altcoin, but I am not sure about that because the altcoin will always follow bitcoin moves.
So maybe choosing bitcoin for his investment will be good for him, so he does not have difficulty managing the bitcoin.

That's right, calming them and not to allow them to rush things out is very important, crypto market is not an easy access to richness.


You need to let them understand that there's always a high risk inside this business, things may go against them if they'll
not invest time to reearch and study.


Correct, encouraging to keep having a positive mindsets, a good tool to keep moving forward.

When someone approaches me about investing in crypto, I just told them that investing in crypto is full of risks your money might be doubled or may also loss in just a short period of time explain to them briefly so that in the future you may not be blamed for bad result, You can also suggest to them your favorite alts but never promise to them a huge profit remind them that no one knows what will happen in the price so always be ready for any circumstances. 

I also experienced this when Doge got such an incredible pump that it became a viral and tranding topic on social media at that time. Some of my friends said to invest in Doge immediately and I just said to be careful, because the price is already high it is very possible that once you buy it you will only lose due to dumping. Something that was worried about happened and fortunately, after I said that my friend gave up his intention to become a FOMO.

In the present time Crypto market is dumping. So i think this is the best time to invest on crypto. For investment Bitcoin is the best choice. Because Bitcoin is the most potential coin now. Also you can suggest him to invest on BNB coin. This is for long time invest. Hope this coin has a great future.

I never NEVER advice anyone anything anymore. Once upon a time during 2017 bull run someone heard about bitcoin and called me and asked me how to buy some bitcoin, I was going to meet with my friend few days later anyway so I told him I will explain to him when we meet, we got together ate, drank had fun and I showed him how he could buy, he ended up buying and lost 50% of his money when it was going down, he didn't say much but I know what he felt.

Since that day I am not helping anyone ever, some other friends asked me about something very recently, and I told them not to worry about it, and wouldn't share my thoughts on projects they talked about as well, I have to say that I can't really deal with that anymore because when someone makes money, I end up being happy so that is good but if they end up losing money I feel responsible about it.

If i were on your feet then the thing you have said was actually on point or the right one.It is better not to suggest any coin for you not to be get blamed off
when he lost up his investment even if we do totally tell directly to invest with bitcoin then theres no assurance that he would profit of on what he had been
expecting or anticipating which new people or fellas do really expect on the time they do make some investment then they do really come after with the
profit next in very short time as possible.Just tell him/her to invest on the amount that he can afford to lose and make out their own research.
To think that even we are veterans on this market but doesnt signify that we do know on what coin would really be pumping out.We dont hold up
the future and this market is always been unpredictable since from the beginning.

If he is doing fomo, you should still ask him to do his own research and find ways to invest in coins he finds interest in. Do not ask anybody to buy into anything because when they lose, they start blaming you. Next part, opportunities are always there and we only need to judge the correct time to get in, whether it is now or 10 years later. Even if bull run ends, opportunities will always be there to make something out of crypto. So just tell him that the world is not going to end tomorrow and he should do a good research on what he is investing in.

Just tell him about "Bitcoin" and just tagging some reminders that profits arent guaranteed so there's a possibility of money.

Dont explain like he would really be making up some bucks so that she wont blame you if the market turns out to be bad.Just like on my case where my friends and colleagues ask out about crypto

since they've been seeing me with some progress in life in terms of financial.They didnt know on what are the challenges and hardships that i pass through before i able to reach this state.

Its never been an easy thing and they would surely experience it for sure.

There are so many instances in which real people have lost money in crypto let alone by investing in Bitcoin, then trading it at spot and in futures becomes a big thing for them. Nobody can predict a top for btc and holding it for long time can only guarantee profits if this 'bull run' does not end like it did in 2018 because the crash then was quick like a falling brick, and the recovery took place at the speed of a snail. Even we make a fool of ourselves by saying that we have only made profits through btc, but hell no it isn't true because nobody here is perfect to hold this long except the real heroes of btc who held it till now and have not sold anything out of their stake.

You can suggest him to invest on bitcoin and ethereum. At this time, the price of altcoin is increasing so quickly. You can suggest his to buy some altcoin on top 100 of coinmarketcap/coingecko.

Nothing could really be perfect because losses would really be there even if you do stick out with Bitcoin but it wont really make out an assurance and also profitability
will really vary on someones decision making towards his trades neither he do able to sell on the right time or just simply missed it out.When there's someone who do
ask out some tips then simply tell them about the risk and if they dont care or wont matter then explain the basics and as hamphser said that i wont really like
to be blamed thats why its always good to play safe so that there would be no possible argumentation later on.

Probably one of the best options if you can't really avoid them. Make sure you don't mention any success stories, because chances are they'll become overconfident. Warn them about the risks and don't dig in too much details on what to buy or not.

You must say to him, Cryptocurrency is not a way for rich fast, sometimes your investment is will drop and so risk, that's it for the short term. But if you focus on long-term investment, cryptocurrency is a great return."

You must tell him the fact about crypto first, and say to him that you are not financial advice.

Just turn them onto as much information as you can and steer clear of giving direct coins to drop money on.  I never like to give financial advise to friends and family because it can always turn sour and alter your relationship.  Tell them to jump on here and let them go down the many rabbit holes on their own.

If you can advise him, what you should keep in mind is to put him in advance of all risks, that you can say any currency but as well as he can win he can lose, you must ask how much he is willing to lose, of course that is what that you can invest in cryptocurrency.

Based on the teachings of some books by Warren Buffet, it is best to choose the safest action, in this case the safest currency, without a doubt is Bitcoin, which buys Bitcoin, be it full or some fraction of it, but you must tell him that In the long term, it is the most likely that profits will arise, at this time it is possible that you can make a profit for the amount of investment that has entered the market, and in case you invest and the market comes against you, you must tell them that you have You have to have a lot of patience, and peace of mind until the price recovers and rises again, in bitcoin the investment is safe, what is not known is when it will rise in price.

If you recommend an altcoin, the danger that arises is much greater, remember that altcoins depend on Bitcoin, unless they are one of those coins that survive from the Pump and Dump, which is not recommended.

If you decide to make the investment that you only extract when it makes a profit, the rest is that you do not get the money, much less if you are at a loss.

We have to be kind to everyone, so if anyone asks you for advice on which coins are best for investment. You have to tell the relative who asked
you the truth about investing in cryptocurrency. That no one can predict coin price movements accurately, so those who ask you must learn to
analyze the market on their own. Because if you give your analysis results directly, then the person who asks for your advice will blame you
in the future if the coins you suggest make him suffer a loss.

You can give him a suggestion to search for the coin, but you can remind him that no one will know what coins will pump in the coming days because the market will always be volatile. Perhaps you can suggest that he take a look at bitcoin and tell him to invest in bitcoin and not invest in altcoin before he research to find the coin.

You can teach him to find the coin with good moves, but I guess that will not easy as you need to analyze one by one of the coins and that will need time to get the coin. The other suggestion will be not using too big money in the beginning as he needs to learn more about investing or trading in the crypto market and make him familiar with the movements of the market.

The first mistake you made is telling him that you are making such an investment at all, and the second will be if you really give him advice on which coin to invest in - in case he loses money, he will blame you first and then everything else. If he wants to get rich instantly, then advise him to go play the lottery or sports betting, because with the attitude that your friend has, there is a good chance that sooner or later he will lose everything he invests.

When it comes to someone's money, then you should draw the line and not get involved in such things - because of money, best friends become the worst enemies, and they raise their hand against each other.

I think you did a good thing telling him that he is the one who should find what coin to invest in. However, as a person who has experience in this field you could give him some tips like invest in coins that have big volumes like Bitcoin or what are the do's and don'ts because based on my understanding he is just a newbie right? So better to guide him besides, he is your relative, not a stranger. You should also tell him that don't expect an instant return because everything here in this market is vague, no one can exactly predict how the market will move. Personally, I've been in that kind of situation and I just tell them what do I know, even warn them what could possibly worse happen.

I do not think that even advising to research is a good thing because they will put you on pressure when they do a bad research and buy a bad coin. I have faced with such things before in my life. How? Well, someone asked me to invest into crypto for them, I declined, they asked me to tell them a coin, so I declined, and they told me what to do and I told them to invest into anything they think will go up and not what I think will go up. They went ahead and researched and lost money and told me "this crypto is a scam, I got into it and lost all my money" like I was responsible for that, and we all know it is not a scam as well.

This was 2018 of course, these days whoever puts money into crypto ends up making a profit unless they are doing high leverage deals, if you just straight up bought something, unless you bought at upmost peak, you made a profit, and even if you bought at recent ATH, you are not down too much.

Oh, I know the feeling.
Some may ask why they want immediate answers. Pandemic.
People lose their jobs, they don't know how to run a business or what business they should start so they set their eyes on investments of whatever money left in their stash.
With the sudden pump of Bitcoin and the pull of altcoins, it became a target.

You did the right thing. Don't ignore them for some of them are losing hope but you should also aim for your safety to avoid the blame if ever it goes south.
Let them decide on their own and just give them tips. Don't name a coin that they should follow.

Tell him the truth. No one can predict what will short term happen with coins. Day trading is manipulated by whales. Day trading is similar as gambling. It is definitely fun until you lose all. Best to learn is on own experiences. So he should daytrade a bit and see it dont pay off and latter start buying coins that will exist 10 years from now. 

If he likes FOMO and you feel confused about advising him, there's nothing wrong with ignoring him and simply suggesting that he do some analysis and research or seek accurate information before doing it, so you don't feel guilty if it's wrong.
sometimes beginners think FOMO is an opportunity without doing a good analysis before acting.

Youre definitely right on what you had said!

Don't exaggerate or explain up the positive sides of crypto investment specially with bitcoin.Dont let them expect that much because once it did really spark out their greed
then it would really be a big problem.

Always go with the basics and tell them about the basic ideas and just let them do the rest.If they do need some clarification then help them as long
you have done your part well then that's already good.

If this is truly his believe then he need your assistant so he won't make a wrong decision that will make him loose the fund he will never forget in his life and leaving alone to make his diligent research will make him invest in hype base project.

I've been in the same situation before. What I did is to explain what I did during my early days in crypto and the difference between the situation during that period and the current one. After explaining what I got to the simplest explanation I can, then I told them to self-study.

There are people that didn't continue their journey due to difficulties understanding even the basics. I can't do something about it now and not my priority as well to lift them up. Those who continue and do some efforts self-studying until now got my support and I always respond to their questions and even giving them some coins to watch but up to them to do some research.

If these people really like to know more about crypto as they want it to be their investment, they should do some effort to learn just like other investments out there.

Give him an understanding first, give him some source about crypto currency, there are so many sources that can used as a learning materials.

If you give him a specific coin that you think the coin is so promissing then you will be wrong. He will depend on your suggestion every time he has intention to invest.

That thing will just make you tired, you will be a place for him to asking. It doesn't care if you fine with that and you comfortable to become his source. But if I were you, it will make tired because I don't get anything.

Guide them and show them that the concept of "investing" in the world of crypto means going hand in hand with risk, grief and loss.  As a relative, you need to focus on training, exchanging, cultivating knowledge and confidence.  Give them some reasonable suggestions, the most important thing is to stimulate them to self-study information and documents without being tempted by the trap.  A bird that wants to fly must be full of feathers, that's safe!

It is true, you need to open his mind to all possibilities. Don't hold back to say the positive and negative repercussions. He thought you know which coins will be the easy money to venture with, but you don't. Even if you are a veteran, you can't say which coin will be pumped and get high returns. You have to show him the real market scenario in crypto. Don't let him assume you know everything because you don't. But you need to be patient in guiding him where to look at. He thought he can learn this overnight because he has someone like you as a guide.

First, you have to ask what kind of coins they were going to FOMO and always ask why then let them do their own research if it isn't efficient then you should do the research if you have more knowledge on crypto than them. I suspect someone might be trying to lure them on a shady scheme so to prevent that from happening and to avoid more losses. Guide them.

And when we talk about investment, never ever buy during the peak since it's a loss already and the risk of losing it is very high. So let them know to wait for the right time and look or do some research about their price speculation.

Open-mindedness  should really be had.Explain to them about the basics but dont explain that there is something guarantee when money making..
Dont give out any assurance because that will really be giving some conflicts if results wont really be ending on what they do anticipate.
Its up to you if you do have the time on explaining because in my part im already done on explaining things because they are mostly trying
to force out on how to make or earn big money.

Perhaps, that will depend on each person if they want to invest in crypto. But most people will think that they will follow what other people suggest without thinking about research more to find the coins. I think they are too lazy to research and learn more about analyzing the market, and they think that they can let other people analyze, and they only need to follow. That is totally wrong if they do that because they can lose their money, and it will be hard to recover the losses if they still do the same thing.

I think we will see what happened in 2018 again in the future and if that really happens and we want to advise someone to join in the crypto, we must remind them about the risk that can come, and we can teach them about how to deal with the risk.

I don't see any issue at all if he insists on asking what coin to invest, then give him the top 5 coins on the market to invest, because these are the coins that are guaranteed to make the most profit, and there's always liquidity, he can always sell his coins if he decides to sell it and invest on other coins or from other reasons, there are trap on FOMO make him understand the many risks of investing in the Cryptocurrency market.

It is generally recommended to not give out financial advice, since you cannot be exactly sure on the outcome of your investment. Mentioning five coins isn't ideal either. There are more than a few examples of coins that have crashed and are yet to recover where they used to be (See XRP). I don't know if it's just me, but I prefer not to provide anyone with such information, I've had incidents of being whined about Bitcoin or Litecoin in market dumps.

I can't be responsible for their own moves, not my fault if you buy in ATH and then proceed to panic sell, but I don't want to get bothered or whined when something happens.

I understand you and I also prefer to not give financial advise to prevent issues with the person later if the investment turns negative.
But since the person is insisting too much I would let it very clear that the profit isn't guaranteed, especially on short run and he would have to be responsible about the amount to be invested and for any consequences of this investment. Furthermore, to prevent even more problems later it would be better to tell him, as a newbie, to invest in bitcoin and ethereum only, as these are the most trustful currencies in this market.

I never really understood people who think that making money is that simple. I mean there are some people who are too greedy to get rich and they are still lazy about it as well, what's the point of doing what someone else says and getting rich that way? After all we are dealing with something that would be beneficial for everyone and that's what I think should be obvious that anyone who is not studying what crypto is and how it would be profiting us all, would end up losing their money in the end.

This is why I think it is quite obvious that we do not end up putting money into something that would not be helping anyone, and we would not suggest others to do the same as well, but that should not mean that we would be putting our money into something and would advice others to do the same neither, we may want to warn them against things, but not really help them pick something neither.

Definitely, if they are insisting, there isn't much you can do to avoid them. Their fault if they kept insisting/bugging you while you actually persuaded them not to. Doing your own research isn't an easy thing, and can also sometimes fail too, thus, people are turning to more "experienced" investors in an effort to maximize their earnings/minimize their losses.

I had a few friends who wanted to get into crypto, taught them the basics and only specified which options seem safer, such as Bitcoin or Litecoin, but the risk is always there.

There's no such thing about being safe yet risk would always lies ahead which is the reality and i wont really be giving out some sweet words if you do explain to someone about crypto investment.

Always go with those caution and warnings so that they would be initially aware on what are the things that they can possibly face off once they had set their foot into this market.

This isnt something that you cant just play carelessly because if you do then losses would really be just the next course or experience you would able to take.
Make them realize but telling up the basics isnt a bad thing for you to do so.

I think that is because people read on many reviews that they only need to invest in crypto, let it grow without doing anything, and in the future or next years, their investment value will increase so high. We are greedy when it is related to money, but we must know that it is not as simple as we were taught, and before we invest in any investment, we must learn and know how to invest with the right.

When we suggest people invest in crypto, we should teach them that the investment has a risk, and we can tell them how to prevent the risk and suggest them to search for the other risk. So when they decide to invest in the crypto, they are ready for the risk, and they know how to deal with it. It is obvious for us not to use the money that we use for our daily need to invest in anything, but we can suggest using the free money they have. It's no matter how much money they will use to invest in crypto, but it is how they can manage the investment before making a profit.

Sometimes, I joke with them about what they need to invest, and I say to them to invest in USDT only hahaha. That is because they are too lazy to find out by themselves. I want to help them analyze the coin to invest, but that will depend on themselves, and if they do not want to research, I can not help anything because I don't want to responsibly with their money. I always give a bold line about that to my friends to be aware of their money.

Even if they decide to invest in bitcoin, they must know the risk of that. And at this moment, they should know what they need to do with their bitcoin, and if they can think for a while, perhaps, they will buy more bitcoin in this downtrend.

Refer them to a financial advisor, do not give advice if you are not one because if something wrong were to happen, I don't think that you will want to take the blame because there will be some factors that are out of your control and will have a difficulty of explaining to them. Plus with financial advisors, it will be more convenient for you because you aren't going to waste your time answering their questions which you might have a limited knowledge of.

A friend of mine introduced me to yield mining, somewhere in mid-February. I was skeptical at first but decided to deposit some money, approximately $200. I saw that it was working quite well and then proceed to deposit more cash, investing almost $2.000 in total.

Furthermore, I made a decent profit from that investment, with a total yield of $1.000 within 2-3 weeks at best. Not long ago, the daily yield starting going bad, so I withdrew all my money and put them aside. Then my friend recommended investing in another vault, did my research and after a while I did. Guess what, it crashed like a plane and right now, I'm losing money.

Of course, he is not to blame, I decided to withdraw my mine in the first place but was already looking for another investment opportunity, even if he hadn't recommended me that one, I might have still put my money there, despite him telling me.

tell them that shares are safer

I think the best advice that you should give here to him or her should in bitcoin for the long-term because the cryptocurrency market is unpredictable. Investing in cryptocurrency for the short-term doesn't pay off most of the time. thus, investing in bitcoin for the long-term is the best idea. Also, he or she should go and learn a bit about bitcoin and the cryptocurrency ecosystem, how bitcoin works, and also how to store bitcoin securely. 

A financial advisor almost certainly will not be able to give any relevant advice when it comes to crypto. 99% chance they'll just repeat some headlines they've seen about it being bad. New people should talk to people who are actually in the bitcoin/crypto space, not go to people simply because they have "finance" in their job title.

Best advice is to advise a new person on the fundamentals of bitcoin/crypto and the whole point of it and give them some history of bitcoin/crypto. Next tell them any money they put into crypto should primarily be in Bitcoin, and outside of that Ether is the least risky, and beyond that for other coins they should do plenty of research and know that most coins will fail or at least lose significantly against Bitcoin over the long term. And of course point out that any money they put in is entirely on them, that you don't know the future and aren't able to predict anything any better than anyone else in general.

Investing in cypto is really good but you need o select the best coin to invest. Because not all of the coin inside the crypto market will give you an instant return. Sometimes you need to wait for a very long time to earn a very big amount of profit, so you need to research everything and make your own decision depending on your own understanding and sight on that coin that you wanted to invest in.

But people does have those kind of different views because usually they do believe that making money is just easy without even truly experiencing on how fierce or hard
to become profitable into this market.When your relatives are asking out then just dont give them guarantees or hope that they can make money.Always tell
them about the risk and give out warnings so that they would be aware and wont really go to the verge on getting wrecked just because they had carelessly
make out investment without even thinking on when they should really get in.

I will never advice anyone to invest in any market, if any of my relatives or friends asks specific questions on how to invest then i might explain it to them gladly but if not it is always best to stay away from that mess because if the market goes the other direction you will get all the blame for advising them to invest in that asset and now they are at a loss and hence i usually avoid those situations.

It would be nice if they are open minded, what if they only listen to the reward and not on the risk because they are eager to invest as they like to ride the FOMO. lol.. if people does not listen to the risk, then I would not force anything, besides, I don't benefit on what they do, so I also don't want to be blame.

You have to convince him that investing in cryptocurrency are not as easy as he imagined. Yeah, everyone wants a big income, but if not based on experience, it is very difficult to do.
Try to make him understand how the crypto market moves, because here it is not only the profit that can be obtained, the risk of loss is also very large. All I fear is when he loses everything, you're the first to blamed.

Yesterday my wife went to her parents to visit (she does this frequently because of covid and to help them) and she came back and told me that her dad had a business associate who is dealing with bitcoin now, he invested like 200 bucks and turned it to 400 bucks and talked about how awesome it was. Father in law told him I have been involved for over 8 years and the guy asked if I could help him, like build a portfolio and all. They didn't even asked me, they just refused it, you know why?

Because, they know for a fact that I do not help people with their money. Not in a bad way, I do not mean bad, I just think people should take money risks themselves and I am not here to help them because if they make money I would be very happy but if they lose money I would be incredibly sad, and I would be afraid as well, so I never help anyone.

Providing your relatives and your friends something to learn about is very important, it will serve as guide

to their own venture to this makret, it's true that better to stay away from suggesting or recommending

as if those people suffered from losing thier  money, the blame will pointed to you. Share your knowledge

but make sure that they'll also do their part.

Almost everyone with prior experience knows that these sort of situations are bound to end badly. Cryptocurrency is a highly volatile field and you never want to lose money for friends & family. I suggest you avoid it altogether, but if they insist then simply say you will not recommend anything - if they want to buy, then help them with that, but do not select anything for them. They will most likely steer towards Bitcoin as the most well known and that may be the best thing overall. If they lose money, then they will have lost it on the favorite and most popular right now, instead of some obscure altcoin that may lose value much easier. You may also want to tell them that they should only put 5% of their money into this asset, that way they could see an upside from the diversification, but the downside will be much more controlled.

If they seriously wants to invest in bitcoin, why not tell them to invest in bitcoin? If they are interested in altcoin, then why not suggest them to invest in well known altcoins like Ethereum? Those two coins will help them to get started. If they further wants to expand their investment and try out different coins, provide them with resources where they can find important information about the coins that they might want to invest. Maybe send them over to this forum?
Oh, and tell them to avoid those shitty coins that are pumped and dumped on regular interval. And tell them, if they are here to make quick profit, then crypto isn't the best place for them.

I just think that it's better to give his relatives some ideas about crypto, not totally advising on what particular coins to invest to.

Per experience, most of the coins in the top 20 ranking appreciate in value overtime and if you hold into it i think we still profit though it will take some time but at least it is still a gain, this should be emphasized to someone seeking advises about cryptocurrency.

It is a need for them to understand clearly what will happen next and never give them the assurance that everything will be fine and works totally a 100% easy return.

If someone will ask me like that, I would say "just visit this site first, do the study, and just come back to me when you think you are ready enough to lose". We never have to give them we will get money and have a quick return because it will get back to us and get angry once they fail.

That is very important for them to understand the risk and they should have the knowledge first before trying to help them, that could be fair maybe.
But, I don't want to encourage them to start now even though they like it.

I tell people it is going to go higher, and then a lot lower.  If they want to ride the rollercoaster, hop on.  It isn't a set it and forget it situation though.  We're going to see a peak and trough in Bitcoin prices between now and the end of 2023.  Many will get rich and many will lose their shirts.  We're well into the greed cycle right now, so it's dangerous territory.  Then I quote them all the messages I sent telling them to buy BTC below $5, again telling them to buy at $200, and then again telling them to buy at $4,000.  I also let them know that there won't be any more buying opportunity messages in the future, as this is likely the last hurrah.

It is good that your relative is eager in regards to investing, I mean you could name bitcoin as the coin that your relative to invest because it is safer and is proven to grow exponentially. I don't think that your relative isn't FOMOing because the earlier that he/she can get in the market, the better but you have to advice him/her that it doesn't guarantee to go up and the growth that your relative should wait is the long-term investment.

You just have to say Bitcoin mate because that is the safest currency to invest for Newbies .
Well if he is looking for Instant return ? then best tell him, not to Invest in bitcoin because the way he want it is he may get the opposite side.
he is not so Positive but he is Very Desperate .
Best to Just tell Him the consequences , And if he insist more? then tell him about Bitcoin .

I very much agree with this advice, I think that first of all you should recommend Bitcoin and at the same time tell you the difference between investment and market speculation, Bitcoin is the safe asset but it has a huge volatility index, which at any time the price goes up or down, you have to wait as long as it takes until you make a profit.

 In the same way, you should let him know that if he investigates, he may have the option of learning some investment schemes well, one of the best books that I recommend for those looking for investment information are those by Warren Buffett, which are fully applicable to the market of the cryptocurrencies. .

When you do talk about being safe asset then its 100% that you can make profits which isnt the case even if we do stick out with Bitcoin.We can still have the tendency for losing money
but if we do talk about long term then most likely we will really be on profits because we have seen on how bitcoin do really progress out when it comes to future years.
When one of your relatives do ask out about to investment then better always give them warning that they cant make profit on a short time basis and always consider
the risk behind crypto investment.There are no assurance that you could really make out some profits or wont experience any losses.

The best ability to currently possess is the ability to learn. If you can teach them how they can do their own research on how cryptocurrency works and where it's suitable to invest, would be your best option. On the plus side, you won't be to blame if their investment goes wrong.

Of course, when it comes to investment, it means that it is long term, of course if it gives benefits in the medium or short term it is in the possibilities, unlike when it is taken into account as a speculator in the market.

Some investments outside the Crypto market can take up to 8 years to obtain benefits, but in Bitcoin it is very likely that there is little left to give benefits in the short and medium term according to what is currently being experienced, despite the pandemic, the price is very next to rise even much more than its recent ATH, to that extent is that I mean that it is the safe stock or currency.

You should do whatever you feel like doing. This goes for everyone. If you want to help them, tell them to do whatever you want them to do, if you think staying in fiat would be better for them because they don't know enough about crypto, tell them to stay in fiat and study crypto before going in, learning about crypto and why it is good or bad to invest right now, and when they know enough all by themselves they will make their own decision and not bother you.

Or if you think there is a coin they should buy, do that and get yourself a friend who has the same coin as you, if you lose money they lose money and they can't be mad at you because you lost money as well, not like you wanted that. One thing I would suggest not to do is advice them to buy something you do not have, that would be bad and I would not suggest anyone to do something like that.

Many people interested to join in cryptocurrency because they see a lot of people get profit in cryptocurrency, but many of them don't know about the risk of cryptocurrency, so I think you must tell them about all of the risks of cryptocurrency. If they know it already and still want to invest so go ahead..

Don't be responsible for your relative's portfolio, you'll get the blame if the coins you've chosen have not performed well in the market, instead teach him how to think like an investor in Cryptocurrency and let him come out with his own list, or if he really insists only refer to the top 5 coins in the market, these are all the coins worthy to invest.

yes i have seen a lot of people who blame others after losing their money in investment, you have given a good suggestion because after learning themselves they will come to know the condition of market price otherwise nobody knows about good and bad luck and it will lead to many problems.

That's the right thing to do, however, there are people who doesn't like to go through the process or learn the basics, they want to start right away as they are afraid they might not be able to ride with the FOMO, that's the usual mistakes of the newbies.

Bull run is the time for the newbie to buy because they love to ride the FOMO, that's the reality that's why its easy for the whales to manipulate the market and will it even pumped more, but of course, nothing will last forever as the market is volatile, hence a correction is true and a dump could be coming.

The OP should be very transparent that even if he had a lot of experience dealing with crypto, still it is not enough for him to give accurate advice when it comes to investment. Just tell it upfront, so they will not be expecting a lot from him. And yes, suggest those top alts, at least they will not be victimized with pump and dump coins. It is hard to suggest a specific coin especially that they are expecting that such choice will give them good returns.

I really think that the majority of us have been in the position in which you are now and what you are doing is the correct approach, you should try to calm down the excitement of this person, it is obvious that he has a complete mistaken view of how the market of cryptocurrencies really works, it seems that he wants to become rich in a week and even if we know that has happened before there is no way to replicate that kind of success, explain to him that he is in essence playing the lottery and convince him to slow down and to try to learn by himself how to invest, and if he still doesn't listen to you then tell him that you are never going to advise him again and that from now on any losses are on him.

You should really make him realized that things that do happen arent really that too simple to be achieved.He might seen you to have some improvement in terms of living or financial but those
arent really just on being lucky but rather involving some pure hardwork and a big mix of patience.

Usually new people do hurried out on learning up bitcoin or crypto are to those ones who had been mostly hyped up when they do saw someone that becoming rich or make their lives better.

I have the same experience about relatives or closest to me who got interested on spot with bitcoin or crypto when they do saw up my status..I just directly told them about learning
the basics and this isnt something like internet magic money that can be gained fast.

That's it, if they managed to learn how to deal with their own research then everything is on their hands,

no blame to happened as they are piloting their own investment, you just need to guide them on how

to workout with sorting information that they'll need in order to survive from this business, after that you

don't have anything but to watch them grow.

Cant really recommend anything beyond just a tech fund is the normal level of investment and risk that the mainstream should be in.   If they hold Tesla in a tech fund then they are holding Bitcoin indirectly and that might be the most sensible thing they can do.   Problem with recommending anything is the involvement requires people to be alot more active, its no good they buy in March and panic sell in July.
  Dollar cost averaging could be that you mention to buy BTC once a month for the next few years, overall they will be involved without having to be too concerned on the news in particular, only the market direction and crypto being proven valid over that time.

You can help him by educating him, and let him know the many risks if you are pointing the risk and the benefits and explain your side why you prefer him to choose the coins that he'd like to invest and not you recommending him coins to invest.

There are a lot of articles and discussions about investing in Cryptocurrency that you can point to him, ask him to take time and not to hurry in investing, there's saying

Of course BTC will be the first choice for anyone, but I've got some coins for you to suggest to your relatives:

- WRX
WazirX, an Indian cryptocurrency exchange which is currently serving the whole countries crypto related needs and is number one at present. Currently at $1 billion marketcap but you can see BNB and decide where will this go.

- OMI
Ecomi is the next Pundi X because they are going to announce various big partnerships with major firms as well as they're also going to burn a very big percentage of their current total supply.

the best advice is no advice I guess so if they ask just share your experience

First of all give some basic understanding to them regarding the market volatility. Once after that if they're ready to take the risk, then ask them to invest at the right occasion. As per my understanding, the market has turned little bearish. This can be used as an opportunity to invest, if not the better choice is to invest on low price altcoins on the top order.

Well... this is a dilemma that I have faced before. Back in 2012 and 2013, I tried to convince some of my friends to make investment in cryptocurrency. Some of them ridiculed me, while some others accused me of promoting Ponzis. A few of them came back to me in 2014, and asked my advice to invest in Bitcoin. Fortunately, I refused to help them. And within a few weeks, Mt Gox closed down and the prices collapsed. And the same happened in 2017 as well. This time a larger number of friends were asking me for advice. The same cycle followed. I don't know whether they made their investment or not, but the exchange rates crashed after a few weeks.

Relatives are probably the worst of the bunch to get investment advice from.

I suggest that you stray away. Unless you have a good reason to invest in BTC and believe in the technology for the long run for yourself, then you're simply going to panic dump as soon as your relative does the same.

Don't get me wrong, it's not just your relatives. When anyone close to you starts talking about how great an investment is going to be when they have had no previous experience, then they are likely succumbing to the FOMO, have no good reason to be in the market in the first place, and will be at the front of the queue to sell low when the markets go down.

When you do try to read up again on whats been mentioned or talked in OP then you would see that his relatives are the ones who had been asking out for some tips and recommendation for some coins
since OP does have the experience into this market more than into his relative which would really be a tough situation on giving out advices since this market doesnt give out guarantee.

I do really hate up when someone do approach me asking for some financial advice and make out their steps basing on what you had said because if the market turns out to be
salty or sour then thats the time you should expect for some blaming.

I had already experienced for you to get blamed when they lost money.So ive decided on not to give any advices anymore to avoid such circumstances.

The only thing that you need to do is advice them to DYOR and invest at their own risk,
When it comes to investment advice I always tell them to do their own research cause I don't want to be responsible if they lose in it.
If they thinks that I am selfish for that advice or because I don't want to help them then it is their problem,
It is better that way than to be blame for their laziness to research about what they are investing on.

Just tell them that they should do their own research but its not bad to tell even with the basics at least they do have idea.Always tell them about the risk
and trying to make them realize that this market isnt something that generates easy money or profit.You would be still needing to risk for you to earn.
Helping them isnt bad but dont try to feed up on what they are expecting because as stomachgrowls said you would really be blamed if
they do lost money on this investment.Tell them that you had warned them at least.