Today I helped 2 non-crypto people invest in bitcoin

[Imran232]

Today I felt really happy. I helped two of my relatives who heard about bitcoin from a news channel and came to me to help them invest in bitcoin. One of them is my uncle (my mother's brother) who has a business. But, on the side, he invested in several stock markets, but recently, he heard a lot about bitcoin from news channels, all of which were negative.But he asked me about that because he knew I was working on it.

Then I told him about its potential and showed him my portfolio. Then he becomes so excited about investing in it. Not only that, his friend also came, and they invested a total of $45000. But according to our country, it's almost 0.36+ million of our currency. Then my uncle says, "Only Bitcoin is not an option because its price is too high. Are there other coins that we can invest in? Then I chose some of them and their potential.

Then they chose some coins. Because their money and there is choice also matter. Otherwise, i only suggest buying a whole bitcoin. Here is their investment :

My uncle's investment : $25000 (Total)

Bitcoin: $10000. Buy average ($47250 price)

Ethereum: 1 Ethereum. Buy average ($3420 price)

Cardano: $3k. Buy average ($2.30 price)

Dot: $2k. Buy average ($34.6 price)

BNB: $3k. Buy average ($410 price)

UNI: $2k. Buy average ($24.20 price)

DYDX: $1330 Buy average ($15.7 price)

Almost $250 fees cut in trading




My uncle's friend's investment is quite the same. He just invests a small amount in cardano, uni, dot, and bnb.

I feel really happy today. I can't share my feelings exactly. 

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[haidil]

I know it is a positive thing that you have at least made a very valuable small contribution. But in addition to giving you knowledge of the potential that is generated, don't forget you must also give them an understanding of what risks they will face. So it's not just sweets, but in bear market conditions it must also strengthen some motivation that the market has an up and down pattern and of course as a beginner it is always difficult to control this. Why did I say that? because I am like you teaching my two brothers to invest in crypto.

In my opinion, don't divide the portfolio too much, because anyway for starters, they should be able to focus on one or two (Bitcoin and Ethereum) because the timeframe that can guarantee is more effective for you to provide basic insight.

[oktana]

My only concern is the bad part. Did you tell them that there'll be storms? Did you explain that there's a bull run but sometimes a bear run? Because I am sure that you definitely not want them blaming you for any of their loss. Whenever I bring people to crypto or tell them about investments, I also let them know that it can be risky. I hope you did this, if not, you can still tell them while it's early.

[sunsilk]

I have no idea what DYDX is.

Your uncle is in stocks so I think he's aware of how volatile the bitcoin market is and it's much more than the usual stocks that he's investing. Well, I'm looking at the positive side but I hope that they were also oriented that it's not all about moving up.

Since your uncle has heard negative news about it, I think that he's really aware of its nature.

[fullhdpixel]

My only concern is the bad part. Did you tell them that there'll be storms? Did you explain that there's a bull run but sometimes a bear run? Because I am sure that you definitely not want them blaming you for any of their loss. Whenever I bring people to crypto or tell them about investments, I also let them know that it can be risky. I hope you did this, if not, you can still tell them while it's early.

No matter how much he tells them when the market goes down, they will always blame him. I have helped a long chain of my relatives and friends to dive into bitcoins and they always blame me when the market goes down. When things are going good, they feel proud and forget but if things go slightly wrong, they are all over me.

I am not too concerned about them though because I spread the word about bitcoin not just with a charity mindset but I know that by spreading about bitcoin, I am helping myself as well since I am an investor.

[Kakmakr]

That happiness can quickly turn into something very bad.....  I made my own rule, "Never include family and friends in business" ....and you will be a happy person. I have learned this lesson the hard way, when some of my family insisted that I "help" them to buy Crypto when the price was high. ($50 000)

Now, I told them the price was too high, but they were too greedy to listen to me..... so as we all know.... the price dropped and some of them had to sell, because they used their credit card to buy these coins and the payment had to be done.

I have not heard the end of this... because they blame me, even though I warned them not to buy when the price was high. 

[redsun114]

Good to see people helping the adoption cause.

In my opinion, don't divide the portfolio too much, because anyway for starters, they should be able to focus on one or two (Bitcoin and Ethereum) because the timeframe that can guarantee is more effective for you to provide basic insight.

That's so true and I would say new investors and even traders should just stick with Bitcoins because the altcoin markerplace is damn risky and hilarious right now. Even if you invest in Ethereum you will slowly get lured into buying some shit coins through all the promotions and social media shilling.

Just buy Bitcoin if you are new to this crypto space, my little suggestion for anyone new to the community as well.

[DoublerHunter]

Today I felt really happy. I helped two of my relatives who heard about bitcoin from a news channel and came to me to help them invest in bitcoin. One of them is my uncle (my mother's brother) who has a business. But, on the side, he invested in several stock markets, but recently, he heard a lot about bitcoin from news channels, all of which were negative.But he asked me about that because he knew I was working on it.
~snip~

^ You should not be biased to them and tell them the truth, investing in crypto is very risky and they must understand that there is no unlimited making money in crypto. There is a possibility that it will drop either after how many hours or days from now on after you tell them. There are too many factors to consider here, from buying on an exchange until where you can store your crypto asset, it should be stored in a safe place, and please keep them in mind of what is the golden rule in cryptocurrency. Not your key, not your coins. Introduce them properly and you will be alright because there is a possibility that they will blame you once they panic sell ad lost the value of their asset once the market is in a red position.

[Imran232]

^ You should not be biased to them and tell them the truth, investing in crypto is very risky and they must understand that there is no unlimited making money in crypto. There is a possibility that it will drop either after how many hours or days from now on after you tell them. There are too many factors to consider here, from buying on an exchange until where you can store your crypto asset, it should be stored in a safe place, and please keep them in mind of what is the golden rule in cryptocurrency. Not your key, not your coins. Introduce them properly and you will be alright because there is a possibility that they will blame you once they panic sell ad lost the value of their asset once the market is in a red position.

At first i mention something that my uncle is also invested in stock market so i think you sould understand that they actually have that point on there mind that investing in crypto is also a risk. But one more thing why you guys though that i didn’t mention them how much crypto os risky though i didn't write in this thread. But i thought you guys will understand that furstly when we guys introduced crypto first we introduced its risk factor then we say its potential. I tell all the things. And they didn't invest their all money they invest that amount what they can afford. And they thought instead of keeping this money on bank crypto is good option and they done it.

What can i di more for them and they have their business. This is amount they invest for long time not for trade. I hope now you guys understand that they didn’t know about crypto technical analysis chapter. But they understand the business and investment chapter better than me. Because i am not investor like them i started with my journey Through free income like airdrop and bounty and then incime from there i got i invest those money and profit on it. Thats it.

[Magicalking]

I hope this act doesn't come back to bite you. This is why I don't preach crypto investments to family and friends. Have you thought about their reactions when there is a plunge in crypto prices. Btc and Eth is the least risky crypto to buy, the rest you have to pray they don't fall below your buying price else your uncle will kill you  

[hatshepsut93]

That happiness can quickly turn into something very bad.....  I made my own rule, "Never include family and friends in business" ....and you will be a happy person. I have learned this lesson the hard way, when some of my family insisted that I "help" them to buy Crypto when the price was high. ($50 000)

And OP just added a lot of shitcoins to their portfolio, there's a very high chance that in 2-3 years the shitcoins will be in red. It's really not wise to give investment advice to relatives, because like you said, it will very likely ruin your relationship if investment will take a hit or something else happens (exchange hack, lost private keys, malware, etc.). This is just one more reason to keep your mouth shut about crypto even with relatives.

[verita1]

Very good portfolio. It is recommended by almost the majority to invest in the top 10 of the crypto market.
OP, as I have noticed you also like to invest in altcoins I would recommend that you take a look at AVAX. I have been invested in this altcoins since its launch, it has great potential that currently has reached position 11.
I always recommend DYOR.

https://www.coingecko.com/en/coins/avalanche

For the rest, I really appreciate that you are lucky enough to advise your relatives to invest in bitcoin and cryptocurrencies. We are living a stellar moment and the crypto space together with bitcoin will show its benefits to the whole world.

[jakdanyel]

These are really huge investments for a person who has not much information about cryptocurrencies. It is good that you helped your uncle about this but you should also warn him that he should always be ready to lose his money also. Because as you know also, there is no guarantee in this market to make a profit all the time. People who invest into a coin must be aware of this.

[Vaskiy]

Thats good to know about your experience helping new ones on cryptocurrency investment. To keep up your excitement it is must to explain them about the market fluctuation happening in large scale in no time, because unexpected market fluctuation could make them worried and end the cryptocurrency usage. Suggest both of them to withdraw little profit once the market has caused change in the portfolio value. This will make them understand better and keep them active on the market.

[Slow death]

your nightmare will start if the price of bitcoin to $32000 for example and it takes a whole year to recover, when your relatives start to see that it is taking a long time for the price of bitcoin to increase and they are at a loss, then at that time guarantee that they they will start blaming you for losing money and this will only get worse if your relatives are confused people who don't have much patience. I think you made the mistake of making them put money into several altcoins because if the bitcoin price drops too much the altcoin price will drop to a catastrophic level

[Oilacris]

My uncle's friend's investment is quite the same. He just invests a small amount in cardano, uni, dot, and bnb.

I feel really happy today. I can't share my feelings exactly. 

By just reading up,i do really feel up the excitement you do have and it do really give out that kind of boost whenever you do excitedly introduce crypto into other people specially with your family or loved ones or relatives.

You do share up the opportunity that you hare experiencing but of course you should also explain to them about the risk because its just not right that they would just look after for the profit or gains without minding

that they could possibly lost up money with their investment.Regarding on the list then i do really like on what you had suggested on where Bitcoin and top altcoins in combine.

[Dread Pirate Roberts]

its good to help other people to join if they really want to . most importantly they know what they are doing in crypto. because in terms of price volatility, everyone agrees that the bitcoin chart price cannot be the same as the stock market. best luck with your family investment. and with the coin choice, to be honest i never know DYDX. Are all the coins a reference from you or them?

[Kemarit]

Welcoming news to see members here helping out their relatives and friends on how to invest on crypto.
I also did help someone way back in 2019, but not that huge amount, just like $200. But we all know how the price rally post halving and I have communication for him eventhough we are now far apart because of the pandemic. He is glad that he did invested as it grow many folds already. But I also explained to him that the price will not go on parabolic rise and there will be tough times when we see the price going down very hard. I do hope that you explain this as well to your uncle.

[tuertezii]

Recommend to others, really want to popularize the risk to them in advance, let them stop loss when they should stop loss，Otherwise, it’s difficult to control their operations. I think I’m at a disadvantage at this point， My friend was brought into this circle by me. He made 300,000 U.S. dollars when he first came in，Then he kept chasing up and using leverage to continue buying. , He lost all his savings when he fell sharply in May of this year.
At that time, he couldn't hold back his desire, and couldn't stop his enthusiasm. Now it is very difficult to stand up.

[michellee]

Congratulations on introducing and explain about bitcoin and other coins to your uncle and his friend. I suggest you tell them not to panic if the price is down and not sell their coins because the downtrend will be back to an uptrend. You can tell them that the crypto price will be volatile day by day and they should be ready to see the price will sometimes down and up. You can suggest not to watch the market too often because that can make them worry if they see the price is down.

If you can trade better, you can ask them to try trading for a small amount as they are familiar with stock trading and I think they know some stock trading analysis that can help them analyze in crypto trading. But if you do not ask them to trade, that will be no problem.