How I convinced a Stock Trader to Invest in Bitcoin

[jhonjhon]

Nice to see your uncle got convinced into coming into our crypto abode  I wonder though, it's really very hard to actually explain crypto to people who heavily invest in traditional assets like stocks or mutual funds because in those, there are tangible businesses and news of markets can be decrypted easily to translate into what the outcome of a company's stock will be, which is very hard to predict in cryptocurrency (hence the volatility?). I would recommend that he keep investing in stocks and mutual funds as well and not do more than 50% into crypto, because the volatility if goes in the negative side can give someone nightmares enough to run away from trading

It is also depend on the people. Not all people are open minded and they will think they are more better than you so they wont believe on what you are saying maybe not until you show a solid proof because that could make them convinced too.

I agree on what you are saying.You dont need to convinced anyone to invest or  to buy anything. This can be stressful ride.For some people, they think it is not a good choice.So if someone has taken the time to learn about cryptocurrency (bitcoin) and ask advice, I'll help gladly but cautiously.If they dont initiate, I'm keeping quiet about it.

[EdenHazard]

He's a stock trader and investor and that's why he's fond and got used of the market's volatility there. So, it isn't surprising that he like the volatility and he's no longer a newbie.
The skills that he has in stocks can be applied in investing and trading in bitcoin. Congratulations to the both of you and for sure your uncle will be happy in the near future once he starts to see those big gains that he should have.

Hmmmm well yeah , despite that having a chance to bag a lot of money in daily basis due its high volatility i think that kind trader will always knew what he is doing ... and whether sitting on his own comfort zone to avoid more risk or going allout to take a huge risk is just about a choice , risk higher then come to crypto but it doesnt mean stock is a safe haven as well though.

They will accuse you doing serious gamble at first tho and calling it scam even more lol when you explain the whole bitcoin concept into a die hard stock trader .

[Vaskiy]

At any instance we should not guarantee them with the profit. This looks like pressuring the users to get into cryptocurrency investment beyond their interest. Already being a stock trader, he surely knows about the risks in any form of investment. Also, I don't think there is such a briefing required for this. Because stock traders were well aware about the cryptocurrency market. When it comes to an investment, it is all about the risks and the return. With cryptocurrency the risks were high and so is the profiting. Also should never insist on making short term returns which makes newbies have a thinking that it is a fast rich market.

[Viscore]

At any instance we should not guarantee them with the profit. This looks like pressuring the users to get into cryptocurrency investment beyond their interest.

Trying to get someone to invest in bitcoin is the wrong approach..It is unlikely for anyone to put their money where they dont want to invest.And if there is any time in which your advice was wrong temporarily,surely you will be the one to blame.Do not convince anyone otherwise. Let them study the pros and cons and make their own decision

[Ararbermas]

Most stock traders that i know, they don't like bitcoin because they already have good income from investing and trading stocks..

But obviously the common reason of declined of some stock traders when it comes bitcoin is,  it is because bitcoin isn't backed by anything at all wherein unlike stocks that backed by companies and etc.

To make the story short they're afraid in bitcoin.
And for me in my personal opinion its too hard to convince them because we different perspective to be honest..

So good for you that you convince him to invest bitcoin.

[michellee]

@OP did his best in explaining bitcoin to his uncle and so far, he's been successful and continues to provide the latest updates on what's happening in the crypto market. That is not easy to convince someone, especially if his uncle is a stock trader because many have bad opinions about bitcoin.

But luckily, his uncle was receptive to his explanation and willing to learn more about bitcoin, which made it easier for @OP to explain what he knew. This will allow @OP and his uncle to discuss crypto and the market further, and I'm sure they can learn together.

[Chato1977]

@OP did his best in explaining bitcoin to his uncle and so far, he's been successful and continues to provide the latest updates on what's happening in the crypto market. That is not easy to convince someone, especially if his uncle is a stock trader because many have bad opinions about bitcoin.

But luckily, his uncle was receptive to his explanation and willing to learn more about bitcoin, which made it easier for @OP to explain what he knew. This will allow @OP and his uncle to discuss crypto and the market further, and I'm sure they can learn together.

With the ongoing adopting of Bitcoin worldwide? i don't think traders from different areas will still deny that crypto investing is profitable so yes they are now considering this to be their investment tools aside from their normal ways like stocks or real estate ..

[Coyster]

With the ongoing adopting of Bitcoin worldwide? i don't think traders from different areas will still deny that crypto investing is profitable so yes they are now considering this to be their investment tools aside from their normal ways like stocks or real estate ..

Yes of course, and i am pretty sure when many of such investors get into the Bitcoin network, they will make Bitcoin their number one investment asset, if you look at different assets today, Bitcoin has to be up there as number one or thereabout with all its features and advantages for investors, it's obviously an opportunity that smart people will definitely take advantage of. Having said that, influx and adoption by institutional investors didn't just start now, so i expect it to continue till mass adoption becomes reality. Bitcoin has proven to be sustainable for the long term, and investors usually look to the future, so they'll choose Bitcoin more often than not.

[tabas]

He's a stock trader and investor and that's why he's fond and got used of the market's volatility there. So, it isn't surprising that he like the volatility and he's no longer a newbie.
The skills that he has in stocks can be applied in investing and trading in bitcoin. Congratulations to the both of you and for sure your uncle will be happy in the near future once he starts to see those big gains that he should have.

The good thing when you are already experience is that you could easily take grasp into a market which might be different into your past experience on which you could really make out some adjustment

but in overall skills and experience then it would really be just the same from those technicals and fundamental application analysis since they do only differ about volatility level which as a stock trader

then you wouldnt really be having that big problem on dealing this market if you do tend to switch up but well always remind about the risk because the more volatility it is the more risky it is,
but people do mainly looking up for potential income or profits thats why they do really took some risk.

The analysis won't be different from stocks to crypto but he might be overwhelmed with bitcoin's volatility but he can make it up and adapt easily. This is why I've seen many stock traders jumped easily into the crypto market and they seem to be well versed already as there's not that much difference in terms of reading the charts.

He's a stock trader and investor and that's why he's fond and got used of the market's volatility there. So, it isn't surprising that he like the volatility and he's no longer a newbie.
The skills that he has in stocks can be applied in investing and trading in bitcoin. Congratulations to the both of you and for sure your uncle will be happy in the near future once he starts to see those big gains that he should have.

Hmmmm well yeah , despite that having a chance to bag a lot of money in daily basis due its high volatility i think that kind trader will always knew what he is doing ... and whether sitting on his own comfort zone to avoid more risk or going allout to take a huge risk is just about a choice , risk higher then come to crypto but it doesnt mean stock is a safe haven as well though.

They will accuse you doing serious gamble at first tho and calling it scam even more lol when you explain the whole bitcoin concept into a die hard stock trader .

Yes, the risk is much higher in here because of volatility but he can get used to it. He chose it and knows what he's doing. There's no need for some guidance when it's about trading but with the usual technicalities about being scammed and other investment scams, he's still needed to be guided.

[GreatArkansas]

Most stock traders that i know, they don't like bitcoin because they already have good income from investing and trading stocks..

But obviously the common reason of declined of some stock traders when it comes bitcoin is,  it is because bitcoin isn't backed by anything at all wherein unlike stocks that backed by companies and etc.

To make the story short they're afraid in bitcoin.
And for me in my personal opinion its too hard to convince them because we different perspective to be honest..
(.....)

I also know some people that already been in stock trading for a long time and started to trade with Bitcoin or other cryptocurrencies.
They claim that at the beginning they didn't expect the volatility, but I am amazed to them that they managed to still be profitable because they told that you can apply what you are doing in stock trading in cryptocurrency.

So for me, not all stock traders are difficult to convince. Only the start is difficult.

[michellee]

@OP did his best in explaining bitcoin to his uncle and so far, he's been successful and continues to provide the latest updates on what's happening in the crypto market. That is not easy to convince someone, especially if his uncle is a stock trader because many have bad opinions about bitcoin.

But luckily, his uncle was receptive to his explanation and willing to learn more about bitcoin, which made it easier for @OP to explain what he knew. This will allow @OP and his uncle to discuss crypto and the market further, and I'm sure they can learn together.

With the ongoing adopting of Bitcoin worldwide? i don't think traders from different areas will still deny that crypto investing is profitable so yes they are now considering this to be their investment tools aside from their normal ways like stocks or real estate ..

Sooner or later, those traders will realize that bitcoin can be profitable for them as long as they know how to treat bitcoin. They now only often hear bad news about bitcoin so some of them don't want to see the potential of bitcoin for them. Maybe traders from other regions will still deny the potential of crypto but that is not the case for traders who are always looking for loopholes to make profits. After all, they will always try to profit because they are traders.

[romero121]

@OP did his best in explaining bitcoin to his uncle and so far, he's been successful and continues to provide the latest updates on what's happening in the crypto market. That is not easy to convince someone, especially if his uncle is a stock trader because many have bad opinions about bitcoin.

But luckily, his uncle was receptive to his explanation and willing to learn more about bitcoin, which made it easier for @OP to explain what he knew. This will allow @OP and his uncle to discuss crypto and the market further, and I'm sure they can learn together.

With the ongoing adopting of Bitcoin worldwide? i don't think traders from different areas will still deny that crypto investing is profitable so yes they are now considering this to be their investment tools aside from their normal ways like stocks or real estate ..

Sooner or later, those traders will realize that bitcoin can be profitable for them as long as they know how to treat bitcoin. They now only often hear bad news about bitcoin so some of them don't want to see the potential of bitcoin for them. Maybe traders from other regions will still deny the potential of crypto but that is not the case for traders who are always looking for loopholes to make profits. After all, they will always try to profit because they are traders.

Traders always look for ways to profit, but everyone won't be having the mentality to be into cryptocurrency. Most of the time stock traders want to be on the safer side, maybe they find it a gamble than a trade. Anyhow this isn't late to get into the market and make good profit. Comparison to the revenue out of a stock investment and a top cryptocurrency is more than enough to make one understand the potential.

[taufik123]

There is no need to convince stock traders to get into bitcoin. They already know it and have started to get into bitcoin because bitcoin has a bright future and the fantastic rise in bitcoin price makes them interested. While there are pros and cons about bitcoin, that doesn't deter stock traders from getting in and trying to trade in bitcoin. High price fluctuations make them addicted and can get quick profits, but also vice versa. if they are not vigilant and do not do the analysis properly the loss will befall them.
BItcoin is a very popular cryptocurrency investment and is known by everyone in the world.

[xSkylarx]

@OP did his best in explaining bitcoin to his uncle and so far, he's been successful and continues to provide the latest updates on what's happening in the crypto market. That is not easy to convince someone, especially if his uncle is a stock trader because many have bad opinions about bitcoin.

But luckily, his uncle was receptive to his explanation and willing to learn more about bitcoin, which made it easier for @OP to explain what he knew. This will allow @OP and his uncle to discuss crypto and the market further, and I'm sure they can learn together.

With the ongoing adopting of Bitcoin worldwide? i don't think traders from different areas will still deny that crypto investing is profitable so yes they are now considering this to be their investment tools aside from their normal ways like stocks or real estate ..

Sooner or later, those traders will realize that bitcoin can be profitable for them as long as they know how to treat bitcoin. They now only often hear bad news about bitcoin so some of them don't want to see the potential of bitcoin for them. Maybe traders from other regions will still deny the potential of crypto but that is not the case for traders who are always looking for loopholes to make profits. After all, they will always try to profit because they are traders.

Traders always look for ways to profit, but everyone won't be having the mentality to be into cryptocurrency. Most of the time stock traders want to be on the safer side, maybe they find it a gamble than a trade. Anyhow this isn't late to get into the market and make good profit. Comparison to the revenue out of a stock investment and a top cryptocurrency is more than enough to make one understand the potential.

It's a good point; both of these are risky, but the stock market is the safer option because, unless there's a new development, it won't drop significantly, unlike cryptocurrency, which is extremely volatile and prone to large swings. That being said, most new generation traders are interested in this because of the fast-paced trading environment and the potential for large profits. However, most people prefer to be on the safe side, such as gaining 10% a year in stock trading rather than losing 10% a year in stock trading.

[qwertyup23]

Just show the results that you have earned in bitcoin then everything will be done and they will be interested.
Even though this interest is only partially due to curiosity and seeing the benefits, this is only temporary because if they are interested, they will automatically look for ins and outs of information about bitcoin and they will be here to invest if they really study the interest well.

I have tried investing into stocks. I studied the market- all of the intrinsic and extrinsic factors; all the candles; the changes; and volatility. But from my months of experience handling with my stocks, most of my results seemed to be in the red.

After exploring different options, I stumbled upon BTC when my friend introduced me into this forum. After only a few weeks, my investments definitely earned more than what I invested in stocks. Though this experience may be isolated from others, I just want to share that investing here in BTC was the best decision that I have ever made.

[michellee]

Traders always look for ways to profit, but everyone won't be having the mentality to be into cryptocurrency. Most of the time stock traders want to be on the safer side, maybe they find it a gamble than a trade. Anyhow this isn't late to get into the market and make good profit. Comparison to the revenue out of a stock investment and a top cryptocurrency is more than enough to make one understand the potential.

Indeed, only those who have a strong character and desire can survive in the middle of a changing market, even those stock traders who will not see the fluctuations in the crypto market and finally give up. Now is probably a good time to enter the market while the market is in a down position and hopefully, people can buy at the bottom. Crypto also provides more profit potential because, in the crypto market, they have more options to trade as well as invest.

[DanWalker]

Even as someone who read many books about money management and other related books I still won't try convincing anyone to invest in something because in this case, you should be responsible if he lose any money and should be responsible for the advice you give him, regardless of that, both stock markets and bitcoins markets may have some benefits for the people who invest here and the price action situation is different in any market for example if someone is a successful investor in stocks market there is no guarantee to say can be a good bitcoin investor after that.

He's trying to share a new way of making money with his uncle. I think there is nothing wrong here, he should not be responsible for anything. Not only Bitcoin but almost all investment methods are high risks. His uncle is a stock trader, I think he also understands the essence of investing "invest with money you are willing to lose". He's just trying to share about the bitcoin market. If his uncle is not interested, he can refuse. There is no coercion here, so no one will be held accountable.

[Strongkored]

Maybe it's just a start, day by day, he could be more mature about the market, and I'll constantly give him the market updates.

You has enough knowledge so able too tell what you experience has been, and what you teach becomes more easily accepted because your uncle already understands about investing in stock that actually works almost the same as crypto, it will be difficult to convined if he is a layman when it comes to investing, moreover, crypto is more volatile and it will make people who are in investing in crypto will be very worried about its declining assets.
He will become more mature if he continues to learn about the crypto market.

[LogitechMouse]

After showing Bitcoin's historical APY numbers, he started showing curiosity, but I was surprised that he loved the market's volatility. Usually, any newbie does not like this much volatilities, but he was like, significant volatility, many opportunities of making profits from trading.

He is already a stock trader so do you think he will think like "Nahhh I don't want Bitcoin since it is volatile" thingy.
He already a stock trader like you said so he likes volatilities because it is the way for a trader to gain profit and to see that you can get more profit into Bitcoin because it is more volatile makes it more attractive to the trader.

Maybe it's just a start, day by day, he could be more mature about the market, and I'll constantly give him the market updates.

Its a good start that you already introduced it to him and I'm pretty sure that he will do some research because he knows that he can make more money trading into crypto because it is more volatile. Good luck to him and good thing that you shared it to him .

[savetheFORUM]

Maybe it's just a start, day by day, he could be more mature about the market, and I'll constantly give him the market updates.

You has enough knowledge so able too tell what you experience has been, and what you teach becomes more easily accepted because your uncle already understands about investing in stock that actually works almost the same as crypto, it will be difficult to convined if he is a layman when it comes to investing, moreover, crypto is more volatile and it will make people who are in investing in crypto will be very worried about its declining assets.
He will become more mature if he continues to learn about the crypto market.

And both of them already have a special connection to each other so talking to each other will not be awkward unlike if its done with other people that you aren't really closed to. Being volatile is one of the factors that people are scared of because they think that their investment can go down but if we explain it to them properly that some really good cryptos can recover easily, they will become more interested and excited to try it.

In the case of OP's uncle, he is not afraid of volatility but he liked it because he already learned this part during the time where he was trading stocks. His uncle seems smart and open minded, I wouldn't wonder that in no time he will be come an expert in the crypto field.