Bitcoin Forum

The crypto currency space is a very volatile place where anything can happen in a short time frame. No one either experts or not can call the top and bottom in crypto currrency market; we should always remember that our business in crypto currency market, trading is to take profit.

More importantly; don't be over ambitious to help someone to buy tokens, never do it. Instead educate and teach them how to do it, and the risks involved.

Good advice. I usually don't give financial advice to anyone as it can easily backfire.

However, I don't understand what the last sentence of your post mean. If someone has already decided to buy cryptocurrencies then probably asking for directions.
Of course, I wouldn't buy for someone else as this can get us in trouble with tax authorities.

I don't understand what you mean by ambitious to help others to buy token.

If it is your friend, then you can just simply advise him to buy that's it. And then you can educate him or the intricacies of crypto, because it is not that easy to be honest. That's why many are entering because they think that it's a one way, and they can make money out of thin air which is very wrong.

Same here, the statement is quite confusing, probably there is a better word for this and not the term ambitious.  But I do agree, don't act as we know it all and offer help eagerly neglecting to inform people about the risk involved in investing in cryptocurrency.  It might backfire and put the blame on us if ever things don't go well.   And it won't help our friend if we do the buying for them, it is best for them to experience all the process themselves.

I fully agree with you. Investing in crypto currencies should always be our own decision. We can make recommendations but of we tell a friend to buy a certain coin and that is going to drop in value than we are on the hook. Giving bad investment advise with certainty can ruin friendships. That is why I tell all my friends to only invest with money that they can afford to lose. And be ready to invest for a longer period of time if prices are moving in the wrong direction.

There will be people who would like to be educated and there are those who are always asking about which token to buy. They don't want to do their researches and want a shortcut by doing their own thing and using their time for it. And as we trade and invest, taking profit is the goal by everyone and if you don't do that and remember your goal, you're going to be ending up as others that are selling at the bottom and only to cut their losses because they panicked.

In my opinion, it is not suitable to be called ambitious, more towards being too excited. But I agree with this statement, if we really want to help friends to start investing in crypto, it would be nice for us to tell us what to learn, what kind of flow and through what, let our friends choose for themselves which one is more suitable for him, we too You have to tell that in crypto there is no certainty, only predictions and even that may not be 100% correct, the risk of loss will also accompany, and a big mistake if we help a friend spend on a coin that we think has the potential, when it ends up experiencing a loss we will only be blamed by him because he has high expectations of us.

Give a small clue and again tell him to DYOR. That's more than enough to make him try to use his brain to analyze the market. Education is much better rather than try to give them all financial advice about that.
There are lots of newcomers who were only following others without DYOR. So many people were getting fooled caused by they were only following their emotion.
Education is the best thing that can be given to others.

I think the right word is overconfident and not over ambitious. Even though I have years of experience in crypto I don’t advice whoever asks me what to buy or what to hold instead I will always tell them to study the basics in crypto and understand how it works.

I agree with you, the risks of cryptocurrencies are great and we all know that, so instead of advising someone to buy a certain currency and hold it, I teach him and give him the resources that will benefit him so that he doesn't lose his money in a failed or scam project. With time he will learn everything about crypto and technical analysis and protecting his wallet from theft.

Yeah, they are all volatile were most of the traders got earned on this matter actually. I think without this no one will get earn on this for sure.
However, I think there's nothing wrong if a person become ambitious into something, when We say over ambitious that means He/She have a big dream that want's to achieve in the future. But I agreed helping others to educate them here is one of the good factors.

Helping others is just the same as educating them and guide them to a better understanding of crypto. I don't think that was an ambitious way? Because we never force to help newcomers, it is our willingness to do it, in fact, I help my friend without any single penny in return, it is coming from my heart and I am so happy about his success.

I hope you look at that the same. Because what you do is just greediness in a matter that you will always think about making a profit. And maybe helping isn't your passion.

If they will listen to us, it is not harder for them to understand what we wanted to teach them. The positivity of our minds in certain things helps us to grasp what others say but somehow, not all have that kind of perception and sometimes they keep those negative minds to role over the positive ones. In that way, helping them, teaching them seems useless and that a waste of time either. That is why I encourage them to have some time to open their minds and empty their minds for this sake otherwise, they still don't understand what we wanted to teach them.

Well said OP, I helped a friend to buy some tokens in 2020 and till date the tokens are still worthless, anyways fast-forward to 2021 where all altcoins are pumping hard this shit token still did nothing, bad project IMO but my friend thinks otherwise so I had to pay him twice the money invested just to have some room to breath and have rest of mind, lesson learnt already, it's never going to happen again

I can't agree more, For me, it's not only been over-ambitious to help someone to buy tokens but also for us to chase some profits. My mom always warns me about this lol, don't be greedy and keep sane. Just like you say, we can introduce the crypto sphere to our friends and family or other people but don't teach them to buy certain tokens/coins, in fact, we need to educate them about the crypto world and warn them of this harsh world so they can make their own decision

You mean we should not take any responsibility personally but we should simply educate people so that they will take care of their duties so that they will make their own decision making on which cryptocurrency to invest and which cryptocurrency to avoid? Honestly I have tried to convince few of my friends to adopt cryptocurrencies but when they are asking me for guarantees, I refused and I asked them to check in Google to get more information and awareness about what they are going to do.

This way I will not take any headache because we cannot predict what kind of market fluctuations we are going to have in near future so that we could make profits or losses. When something is completely uncertain then it will be much better not to take any responsibility.

I exactly know how to not help other people into buying a really volatile tokens because at the end of the day if they happen to lose their money we gonna be the ones who gets blamed and it's true that over ambitious usually also means being too greedy and could make us misses so much opportunity. Like for example when people are getting persistent and refuse to sell a coin even though the coin is going under and the overall valuation of that coins is kinda overrated.
But the most important thing i've learn though, when it comes to money and investing like this, don't just persuade people into following you otherwise you messed up so hard if things doesn't go as expected.

You can give advices but make them learn the basic of investing in cryptocurrency coins.

Not everyone will believe all your advices until you have proven the legitimacy of it. Otherwise, if you wanted to help them to be part of this kind of investment, guide them. That probably a good way to help them. Know all the risk and its not bad to suggeat coins that are worth to invest for. The decision will be at them at the end.

I guess you're right, but what makes people believed is by showing proofs to them. It is good to educate  or share them ideas as long you done or make it by your own because it is hard to give what you don't have. Make sure that you have all the ideas and knowledge in order people will correctly do every process or steps when it comes in buying or selling and holding such coins.

Whenever you advise someone to buy something, it feels like the burden or responsibility also slightly shifts onto your own shoulders. Whenever you give advice consider the fact that you may be blamed later on if anything goes wrong.

Rather point to a list of coins and tokens and recommend to research those first.

For sure the crypto market is really volatile which makes risk and reward mandatory, so for a person to be able to benefit from crypto, that person is supposed to know the risk involved and learn the strategies of benefiting from crypto. So truth be told it's better for you to educate a person on the risk involved in crypto and also teach them how to buy for them selves because you never can tell what will happen next and the blame will be on you who bought for them, like most newbies think crypto is a get rich quick scheme, try to kill that thought from them, and also teach them not to be a panick seller.

I don't think that's what OP meant, he or she is warning people not to help their friends to buy coins or tokens because the risk will be on the buyers neck, if the token or coin loses big value later your friend can turn your enemy instantly 😂, better to tell them where to buy and tell them the risk involved, if loss do happens it's on them

Indeed no one can claim to theirselves that they are experts already in the crypto world no matter how long they have been here. You can be over ambitions all by yourself but it would be best if you wouldn't include other people on it so that you may avoid leading them to their downfall. As we all know, those who has the highest holdings or owning of crypto have learned more from the guidance and their experience than from listening to other people's instruction. As an individual also, you should always know how to stand your ground and stay firm on your goal without letting anyone else interfere with it.

Investing in cryptocurrencies is always a huge risk and therefore you always need to think about all your actions in the cryptocurrency sphere and, of course, before investing in any cryptocurrency, you need to understand that you can lose all your investments and only then you need to make investments and of course you need to invest exactly that money that will not be a pity to lose, also beginners should understand all this so as not to lose all their investments on the initial path in the cryptocurrency field.

Helping just anyone to buy tokens or invest in any coin is very risky cus, just as the post says, the crypto market can not be predicted, one can be very certain of what he or she is buying into but after sometime, things least expected might cause somethings to change which in turn might affect that market negatively, so when this kind of situation arises, the person you bought a coin or token for is likely to hold you responsible for misleading him or her into loosing money, this is one of the reasons am always very careful of introducing crypto to my family members, close friends and relatives, cus they might not understand it the way I do and cus of this, might take a wrong step which would cause them to loose money and in the end, I will be the one to be blamed for the loose.

I am not ambitious, I love to educate many aspiring cryptocurrency investors here in our locality, but there is one line I shouldn't cross. It is when I will be the one who will manage their portfolios for them. They should learn how to do their research instead of blindly following the hype without any valid reason. It doesn't make sense.

ambition brings disaster. we have to be careful in looking at the situation, especially in the market because if we take the wrong step instead of profit, we are the ones who lose.
don't just look at tokens from those who only rely on pumps and fomo because that's not the right thing to do.
learn first before taking action

I totally agree with your thinking because if we are too ambitious sometimes it becomes a boomerang for us and I personally have experienced some bad things in giving advice to a friend about how to invest in crypto, when I introduced and advised them to buy The altcoins and altcoins gave them an advantage but they forgot about me and when they had a loss in trading, they blamed me and said I lied to them  :'( and to be honest I now don't care what they are doing now because it doesn't provide utmost benefit for me personally.

If you use your ambition wisely it is ok to be ambitious. Use the energy and motivation to conduct proper research. That's where most lack the ambition necessary to make profound decisions as to where they should put their money.