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

[Golftech]

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.

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.

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[Fortify]

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.

[adzino]

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 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.

[bisdak40]

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 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.

[Distinctin]

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 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.

[OgNasty]

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.

[Kong Hey Pakboy]

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.

[btc78]

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.

You just have to say Bitcoin mate because that is the safest currency to invest for Newbies .

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.

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.

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

he is not so Positive but he is Very Desperate .

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

Best to Just tell Him the consequences , And if he insist more? then tell him about Bitcoin .

[LUCKMCFLY]

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.

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. .

[Fatunad]

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.

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.

[Ultegra134]

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.

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.

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.

[LUCKMCFLY]

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.

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.

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.

[el kaka22]

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.

[arufox]

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..

[pilosopotasyo]

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?

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.

[Faxmate]

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?

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.

[Distinctin]

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?

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.

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.

[Viscore]

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..

The market is much high right now, we should wait for correction period before buying. Don't buy high so you don't cry later. Don't buy a token when it's trending or in hype. Because once a token trend it's already high. Do your own research and don't listen to anyone in comment, that's it.

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.

[Twinkledoe]

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?

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.

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.

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.

[Silberman]

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 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.