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

[milewilda]

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

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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.

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.

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[Ultegra134]

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.

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.

[fadhilz123]

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.

[wheelz1200]

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?

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.

[LUCKMCFLY]

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 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.

[MCobian]

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.

[maydna]

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?

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.

[Lucius]

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.

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

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.

[blckhawk]

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 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.

[sana54210]

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.

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.

[Reid]

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.

[Febo]

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

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. 

[bitzizzix]

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.

[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.

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.

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.

[Myleschetty]

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.

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.

[chaser15]

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.

[Ridwan Fauzi]

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.

[ivankoh]

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!

[Twinkledoe]

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.

[Oceat]

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.