I have a relatives who ask advise to invest, what should I do?

[raskolnikovx]

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?

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? 

[1715212587]

1715212587

[harizen]

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

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.

[Oasisman]

I have a relative who come to me and ask advise on what coins to invest now

That's an easy one.

Bitcoin and only Bitcoin.

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.

[Wexnident]

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.

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.

[Saisher]

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?

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.

[thecodebear]

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.

[JohnBitCo]

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?

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.

[palle11]

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.

[LogitechMouse]

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?

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.

[traderethereum]

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.

[Pamadar]

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.

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.

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.

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.

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.

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

[ice18]

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. 

[hahay]

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.

[Ibrahim60]

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.

[SquallLeonhart]

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.

[Fatunad]

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

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.

[2double0]

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.

[Hamphser]

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.

[2double0]

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

<<>>

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.

[peterpanda]

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.