How do you deal with friends/family when they lose their investment?

[Amajaa]

You must first explaine to them all the possibilty on losing in terms of investing in one coin but as musch as posible explain to them the profit they get more if they know  how to invest in the right time and right coin.. Losing is part of investing though we have to deal with it but we can avoid it if we learn some strategies.

[genology]

I always tell them it is part of the game. An investor must know when to sell or buy. I always tell them them that if an investment has potential to grow in the future, don't sell even it goes down in growth. It is because someday it will rise and you will be one of the people who benefits from it.

[Nilda]

That’s Murphy’ Law...If anything can go wrong, it will. Even the most extensive research can’t guarantee a risk-free investment.

[hydeevanz]

If you tell your friends and family about Bitcoin without giving them any sort of in-depth financial advice and they go ahead and invest, how do you deal with it when the market dips very low and they silently blame you for losing them money.

To be honest, my family doesn't care about the bitcoin because their perceptions about bitcoin is a scam. As the matter of fact, they always tell me to stop dealing with bitcoin because they want me to focus on my studies. Investment is not a big thing to my family because they don't have enough money for investing.

[angelaurum]

bloody hell that is one of a big problem i am facing now
its really hard to explain but i just tell them that cryptocurrency is very risky

i lost alot on crypto scams and it affects alot my daily life
i quit my job just to do crypto but the time i did it everything went south

crypto has so many swings... we just need to learn to accept it
just tell them the whole story and don't make stuff up

explain them using graphs and statistical results of their investments

[wibe23]

Before they invest, you should explain in detail the possible risk status of the cryptocurrency market, so that they are prepared in advance. Moreover, everyone should have their own judgment ability, can not simply listen to other people's suggestions, they also have to understand the relevant aspects of knowledge and information.

[Sombabe]

it is pretty simple actually!
i have never introduced bitcoin as an investment to anyone to this day. if i tell others about bitcoin, i am going to tell them "bitcoin is a decentralized currency", expand on that and finally maybe i tell them how the price of it works based on its limited supply and growing demand.
this simply solves all the problems of them wanting to invest only to get rich over night and then with a small price drop they panic,...

i think I like this approach.

[Sombabe]

If you tell your friends and family about Bitcoin without giving them any sort of in-depth financial advice and they go ahead and invest, how do you deal with it when the market dips very low and they silently blame you for losing them money.

See mixing relationships and family is never a good idea. I always try to avoid discussing financial topics with friends and family as money most of the times breaks relationships. However, if someone is forcing you for days for some advice, tell them in advance that prices are volatile. They should invest what they are ready to loose. If someone with limited savings asks you for advice related to bitcoins, tell them that it is not the right choice for them. This may appear rude but will help them in the long run.

The sad thing is, when they see the change in your financial situation and discover it was some investment you made four/five years ago, they blame you for not telling them about it. There's no winning.

[Sombabe]

If you tell your friends and family about Bitcoin without giving them any sort of in-depth financial advice and they go ahead and invest, how do you deal with it when the market dips very low and they silently blame you for losing them money.

If you want to tell your family or friend to invest in bitcoin be sure tell them about the risks that it has, if you are talking about investment there are always risks but it also will make you earn depending on the price of bitcoin but for me I won't force anyone who is not interested and are willing to take the risks with bitcoin. I believe that bitcoin will revolutionize our currency and if they don't think like that then just don't waste your time.

Thanks. Money is a very delicate topic, and even when you tell someone about the risks, they get distracted by potential gains, make risky bets, then come back to blame you later. Sometimes I think it's better just to keep investments to oneself.

[heureca]

If you tell your friends and family about Bitcoin without giving them any sort of in-depth financial advice and they go ahead and invest, how do you deal with it when the market dips very low and they silently blame you for losing them money.

It is easy - do not advise your family members/friends to invest in BTC without acquired basic knowledge of criptocurrency investment and risk management. Personally I advice my friends to try bounty programs first - they do not loose money at least and acquire some knowledge about criptocurrency market

[usechain]

Do not introduce Bitcoin to those who do not fully understand Bitcoin, or you can tell them the risk of loss. Don't just tell them a good one. Keep in mind that investing is risky.

[Angletim]

If you tell your friends and family about Bitcoin without giving them any sort of in-depth financial advice and they go ahead and invest, how do you deal with it when the market dips very low and they silently blame you for losing them money.

When you tell them about bitcoin, you should tell them that investing in bitcoins is risky, and that they need to be cautious about investing. If you say so, I don't think they will blame you.

[Deathgamer]

I feel so bad if one of my friends or my family lose their investment the reason why I am always reminding them that investing in bitcoin is risky and also it takes a long term to earn here thats why I told them to always be patient if they want to earn big.

[5ensei]

If that happened to me I would feel like crap! Better not to advise people to invest in bitcoin unless they know the risks and understand at least vaguely what the technology is about. Saying it's just a digital form of money is not really enough to explain the ups and downs in price. They will be happy again later this year when it goes back up again

[levvv]

what do you mean 'lose their investment' ?
if you means about the loss of the investment, tell them every investment have a risk to loss.
patient is the key, bitcoin is a long term investment. bitcoin price increasing every year.

[supermam]

If this will happen to one member of your family try to explain to them the advantages and disadvantages of investing that it's like a game in life so before they invest their money they must check first the background if it is a good investment or not because investing is a risk.

[Sadum]

this is a difficult question to explain But For me this is an interesting question to discuss here.

yeah .. Right now the price is again unstable where it's always Changed every time and to deal with it This I always update in Telegram or WhatsApp in My Community about Crypto Currency Prices and this proves to be effective to prevent them Investing do harm to themselves...

[StevenPop]

I currently am holding some bitcoins for a friend which I helped buy for him at $9300. Now he is looking at the charts and seeing that he is losing money, at one point he was going to start freaking out so I sat him down and explained the market to him as much as I could, showed him charts and all that and he is calm for now. Although I don't know how calm he will be if the price drops even lower so I have offered to give him the exact amount he invested in if it turns out he cannot wait.

[k@suy]

I think its better to explain to him the situation  and advise him that bitcoin investment involves risk. Also, better to hold since bitcoin is quite stable at $10,000 dollar, if you sell at losing price there is no way to recover if you do not by back. Again, better to invest only what you can afford to lose.

[vagrom]

It is necessary to be cautious when investing in a market with risk. A few currency investments may have high returns, but at the same time it may be worthless.