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

[Fatunad]

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.

Open-mindedness  should really be had.Explain to them about the basics but dont explain that there is something guarantee when money making..
Dont give out any assurance because that will really be giving some conflicts if results wont really be ending on what they do anticipate.
Its up to you if you do have the time on explaining because in my part im already done on explaining things because they are mostly trying
to force out on how to make or earn big money.

[1714188465]

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[maydna]

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.

Perhaps, that will depend on each person if they want to invest in crypto. But most people will think that they will follow what other people suggest without thinking about research more to find the coins. I think they are too lazy to research and learn more about analyzing the market, and they think that they can let other people analyze, and they only need to follow. That is totally wrong if they do that because they can lose their money, and it will be hard to recover the losses if they still do the same thing.

I think we will see what happened in 2018 again in the future and if that really happens and we want to advise someone to join in the crypto, we must remind them about the risk that can come, and we can teach them about how to deal with the risk.

[aioc]

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 don't see any issue at all if he insists on asking what coin to invest, then give him the top 5 coins on the market to invest, because these are the coins that are guaranteed to make the most profit, and there's always liquidity, he can always sell his coins if he decides to sell it and invest on other coins or from other reasons, there are trap on FOMO make him understand the many risks of investing in the Cryptocurrency market.

[Ultegra134]

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 don't see any issue at all if he insists on asking what coin to invest, then give him the top 5 coins on the market to invest, because these are the coins that are guaranteed to make the most profit, and there's always liquidity, he can always sell his coins if he decides to sell it and invest on other coins or from other reasons, there are trap on FOMO make him understand the many risks of investing in the Cryptocurrency market.

It is generally recommended to not give out financial advice, since you cannot be exactly sure on the outcome of your investment. Mentioning five coins isn't ideal either. There are more than a few examples of coins that have crashed and are yet to recover where they used to be (See XRP). I don't know if it's just me, but I prefer not to provide anyone with such information, I've had incidents of being whined about Bitcoin or Litecoin in market dumps.

I can't be responsible for their own moves, not my fault if you buy in ATH and then proceed to panic sell, but I don't want to get bothered or whined when something happens.

[uneng]

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 don't see any issue at all if he insists on asking what coin to invest, then give him the top 5 coins on the market to invest, because these are the coins that are guaranteed to make the most profit, and there's always liquidity, he can always sell his coins if he decides to sell it and invest on other coins or from other reasons, there are trap on FOMO make him understand the many risks of investing in the Cryptocurrency market.

It is generally recommended to not give out financial advice, since you cannot be exactly sure on the outcome of your investment. Mentioning five coins isn't ideal either. There are more than a few examples of coins that have crashed and are yet to recover where they used to be (See XRP). I don't know if it's just me, but I prefer not to provide anyone with such information, I've had incidents of being whined about Bitcoin or Litecoin in market dumps.

I can't be responsible for their own moves, not my fault if you buy in ATH and then proceed to panic sell, but I don't want to get bothered or whined when something happens.

I understand you and I also prefer to not give financial advise to prevent issues with the person later if the investment turns negative.
But since the person is insisting too much I would let it very clear that the profit isn't guaranteed, especially on short run and he would have to be responsible about the amount to be invested and for any consequences of this investment. Furthermore, to prevent even more problems later it would be better to tell him, as a newbie, to invest in bitcoin and ethereum only, as these are the most trustful currencies in this market.

[sana54210]

Perhaps, that will depend on each person if they want to invest in crypto. But most people will think that they will follow what other people suggest without thinking about research more to find the coins. I think they are too lazy to research and learn more about analyzing the market, and they think that they can let other people analyze, and they only need to follow. That is totally wrong if they do that because they can lose their money, and it will be hard to recover the losses if they still do the same thing.

I think we will see what happened in 2018 again in the future and if that really happens and we want to advise someone to join in the crypto, we must remind them about the risk that can come, and we can teach them about how to deal with the risk.

I never really understood people who think that making money is that simple. I mean there are some people who are too greedy to get rich and they are still lazy about it as well, what's the point of doing what someone else says and getting rich that way? After all we are dealing with something that would be beneficial for everyone and that's what I think should be obvious that anyone who is not studying what crypto is and how it would be profiting us all, would end up losing their money in the end.

This is why I think it is quite obvious that we do not end up putting money into something that would not be helping anyone, and we would not suggest others to do the same as well, but that should not mean that we would be putting our money into something and would advice others to do the same neither, we may want to warn them against things, but not really help them pick something neither.

[Ultegra134]

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.

Perhaps, that will depend on each person if they want to invest in crypto. But most people will think that they will follow what other people suggest without thinking about research more to find the coins. I think they are too lazy to research and learn more about analyzing the market, and they think that they can let other people analyze, and they only need to follow. That is totally wrong if they do that because they can lose their money, and it will be hard to recover the losses if they still do the same thing.

I think we will see what happened in 2018 again in the future and if that really happens and we want to advise someone to join in the crypto, we must remind them about the risk that can come, and we can teach them about how to deal with the risk.

Definitely, if they are insisting, there isn't much you can do to avoid them. Their fault if they kept insisting/bugging you while you actually persuaded them not to. Doing your own research isn't an easy thing, and can also sometimes fail too, thus, people are turning to more "experienced" investors in an effort to maximize their earnings/minimize their losses.

I had a few friends who wanted to get into crypto, taught them the basics and only specified which options seem safer, such as Bitcoin or Litecoin, but the risk is always there.

[Oilacris]

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.

Perhaps, that will depend on each person if they want to invest in crypto. But most people will think that they will follow what other people suggest without thinking about research more to find the coins. I think they are too lazy to research and learn more about analyzing the market, and they think that they can let other people analyze, and they only need to follow. That is totally wrong if they do that because they can lose their money, and it will be hard to recover the losses if they still do the same thing.

I think we will see what happened in 2018 again in the future and if that really happens and we want to advise someone to join in the crypto, we must remind them about the risk that can come, and we can teach them about how to deal with the risk.

Definitely, if they are insisting, there isn't much you can do to avoid them. Their fault if they kept insisting/bugging you while you actually persuaded them not to. Doing your own research isn't an easy thing, and can also sometimes fail too, thus, people are turning to more "experienced" investors in an effort to maximize their earnings/minimize their losses.

I had a few friends who wanted to get into crypto, taught them the basics and only specified which options seem safer, such as Bitcoin or Litecoin, but the risk is always there.

There's no such thing about being safe yet risk would always lies ahead which is the reality and i wont really be giving out some sweet words if you do explain to someone about crypto investment.

Always go with those caution and warnings so that they would be initially aware on what are the things that they can possibly face off once they had set their foot into this market.

This isnt something that you cant just play carelessly because if you do then losses would really be just the next course or experience you would able to take.
Make them realize but telling up the basics isnt a bad thing for you to do so.

[maydna]

~snip~

I never really understood people who think that making money is that simple. I mean there are some people who are too greedy to get rich and they are still lazy about it as well, what's the point of doing what someone else says and getting rich that way? After all we are dealing with something that would be beneficial for everyone and that's what I think should be obvious that anyone who is not studying what crypto is and how it would be profiting us all, would end up losing their money in the end.

This is why I think it is quite obvious that we do not end up putting money into something that would not be helping anyone, and we would not suggest others to do the same as well, but that should not mean that we would be putting our money into something and would advice others to do the same neither, we may want to warn them against things, but not really help them pick something neither.

I think that is because people read on many reviews that they only need to invest in crypto, let it grow without doing anything, and in the future or next years, their investment value will increase so high. We are greedy when it is related to money, but we must know that it is not as simple as we were taught, and before we invest in any investment, we must learn and know how to invest with the right.

When we suggest people invest in crypto, we should teach them that the investment has a risk, and we can tell them how to prevent the risk and suggest them to search for the other risk. So when they decide to invest in the crypto, they are ready for the risk, and they know how to deal with it. It is obvious for us not to use the money that we use for our daily need to invest in anything, but we can suggest using the free money they have. It's no matter how much money they will use to invest in crypto, but it is how they can manage the investment before making a profit.

~snip~

Definitely, if they are insisting, there isn't much you can do to avoid them. Their fault if they kept insisting/bugging you while you actually persuaded them not to. Doing your own research isn't an easy thing, and can also sometimes fail too, thus, people are turning to more "experienced" investors in an effort to maximize their earnings/minimize their losses.

I had a few friends who wanted to get into crypto, taught them the basics and only specified which options seem safer, such as Bitcoin or Litecoin, but the risk is always there.

Sometimes, I joke with them about what they need to invest, and I say to them to invest in USDT only hahaha. That is because they are too lazy to find out by themselves. I want to help them analyze the coin to invest, but that will depend on themselves, and if they do not want to research, I can not help anything because I don't want to responsibly with their money. I always give a bold line about that to my friends to be aware of their money.

Even if they decide to invest in bitcoin, they must know the risk of that. And at this moment, they should know what they need to do with their bitcoin, and if they can think for a while, perhaps, they will buy more bitcoin in this downtrend.

[zanezane]

Refer them to a financial advisor, do not give advice if you are not one because if something wrong were to happen, I don't think that you will want to take the blame because there will be some factors that are out of your control and will have a difficulty of explaining to them. Plus with financial advisors, it will be more convenient for you because you aren't going to waste your time answering their questions which you might have a limited knowledge of.

[Ultegra134]

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.

Perhaps, that will depend on each person if they want to invest in crypto. But most people will think that they will follow what other people suggest without thinking about research more to find the coins. I think they are too lazy to research and learn more about analyzing the market, and they think that they can let other people analyze, and they only need to follow. That is totally wrong if they do that because they can lose their money, and it will be hard to recover the losses if they still do the same thing.

I think we will see what happened in 2018 again in the future and if that really happens and we want to advise someone to join in the crypto, we must remind them about the risk that can come, and we can teach them about how to deal with the risk.

Definitely, if they are insisting, there isn't much you can do to avoid them. Their fault if they kept insisting/bugging you while you actually persuaded them not to. Doing your own research isn't an easy thing, and can also sometimes fail too, thus, people are turning to more "experienced" investors in an effort to maximize their earnings/minimize their losses.

I had a few friends who wanted to get into crypto, taught them the basics and only specified which options seem safer, such as Bitcoin or Litecoin, but the risk is always there.

There's no such thing about being safe yet risk would always lies ahead which is the reality and i wont really be giving out some sweet words if you do explain to someone about crypto investment.

Always go with those caution and warnings so that they would be initially aware on what are the things that they can possibly face off once they had set their foot into this market.

This isnt something that you cant just play carelessly because if you do then losses would really be just the next course or experience you would able to take.
Make them realize but telling up the basics isnt a bad thing for you to do so.

A friend of mine introduced me to yield mining, somewhere in mid-February. I was skeptical at first but decided to deposit some money, approximately $200. I saw that it was working quite well and then proceed to deposit more cash, investing almost $2.000 in total.

Furthermore, I made a decent profit from that investment, with a total yield of $1.000 within 2-3 weeks at best. Not long ago, the daily yield starting going bad, so I withdrew all my money and put them aside. Then my friend recommended investing in another vault, did my research and after a while I did. Guess what, it crashed like a plane and right now, I'm losing money.

Of course, he is not to blame, I decided to withdraw my mine in the first place but was already looking for another investment opportunity, even if he hadn't recommended me that one, I might have still put my money there, despite him telling me.

[jargom]

tell them that shares are safer

[WatchMaker]

I think the best advice that you should give here to him or her should in bitcoin for the long-term because the cryptocurrency market is unpredictable. Investing in cryptocurrency for the short-term doesn't pay off most of the time. thus, investing in bitcoin for the long-term is the best idea. Also, he or she should go and learn a bit about bitcoin and the cryptocurrency ecosystem, how bitcoin works, and also how to store bitcoin securely. 

[thecodebear]

Refer them to a financial advisor, do not give advice if you are not one because if something wrong were to happen, I don't think that you will want to take the blame because there will be some factors that are out of your control and will have a difficulty of explaining to them. Plus with financial advisors, it will be more convenient for you because you aren't going to waste your time answering their questions which you might have a limited knowledge of.

A financial advisor almost certainly will not be able to give any relevant advice when it comes to crypto. 99% chance they'll just repeat some headlines they've seen about it being bad. New people should talk to people who are actually in the bitcoin/crypto space, not go to people simply because they have "finance" in their job title.

Best advice is to advise a new person on the fundamentals of bitcoin/crypto and the whole point of it and give them some history of bitcoin/crypto. Next tell them any money they put into crypto should primarily be in Bitcoin, and outside of that Ether is the least risky, and beyond that for other coins they should do plenty of research and know that most coins will fail or at least lose significantly against Bitcoin over the long term. And of course point out that any money they put in is entirely on them, that you don't know the future and aren't able to predict anything any better than anyone else in general.

[rhodelmabanal]

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?

Investing in cypto is really good but you need o select the best coin to invest. Because not all of the coin inside the crypto market will give you an instant return. Sometimes you need to wait for a very long time to earn a very big amount of profit, so you need to research everything and make your own decision depending on your own understanding and sight on that coin that you wanted to invest in.

[dunfida]

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?

Investing in cypto is really good but you need o select the best coin to invest. Because not all of the coin inside the crypto market will give you an instant return. Sometimes you need to wait for a very long time to earn a very big amount of profit, so you need to research everything and make your own decision depending on your own understanding and sight on that coin that you wanted to invest in.

But people does have those kind of different views because usually they do believe that making money is just easy without even truly experiencing on how fierce or hard
to become profitable into this market.When your relatives are asking out then just dont give them guarantees or hope that they can make money.Always tell
them about the risk and give out warnings so that they would be aware and wont really go to the verge on getting wrecked just because they had carelessly
make out investment without even thinking on when they should really get in.

[SaShiRaJaVu]

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.

[Viscore]

Make sure they don't blame you when you give an advice, and please tell them to educate themselves first and not just rely on someone's call. The market is very unpredictable, it's not bullish every time, what if your relatives will get caught in a bearish market and the price will continue to dump that could cause a panic?

That's why I don't give an advice on what project or coin to invest, but I give an advice on how to know or study a particular projects or the crypto market in general.

The same on me, the reason why I didn't give some advice to anyone because I am afraid that someday they will come back and blame me for their losses. The thing that I don't want to happen.

Explain to your relatives very well how bitcoin will work and invest only in bitcoin, nothing else. Altcoins and other defi projects need to have a dig deep research so will I guess your relative will hard to understand.

There are too many crucial things to understand before investing in crypto, you must explain it first include the risk that brings while investing.

It would be nice if they are open minded, what if they only listen to the reward and not on the risk because they are eager to invest as they like to ride the FOMO. lol.. if people does not listen to the risk, then I would not force anything, besides, I don't benefit on what they do, so I also don't want to be blame.

[mamesso]

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 have to convince him that investing in cryptocurrency are not as easy as he imagined. Yeah, everyone wants a big income, but if not based on experience, it is very difficult to do.
Try to make him understand how the crypto market moves, because here it is not only the profit that can be obtained, the risk of loss is also very large. All I fear is when he loses everything, you're the first to blamed.

[justdimin]

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?

Yesterday my wife went to her parents to visit (she does this frequently because of covid and to help them) and she came back and told me that her dad had a business associate who is dealing with bitcoin now, he invested like 200 bucks and turned it to 400 bucks and talked about how awesome it was. Father in law told him I have been involved for over 8 years and the guy asked if I could help him, like build a portfolio and all. They didn't even asked me, they just refused it, you know why?

Because, they know for a fact that I do not help people with their money. Not in a bad way, I do not mean bad, I just think people should take money risks themselves and I am not here to help them because if they make money I would be very happy but if they lose money I would be incredibly sad, and I would be afraid as well, so I never help anyone.