How I convinced a Stock Trader to Invest in Bitcoin

[wtsimis]

Bitcoin is an incredible thing for an outsider of the crypto industry. My friends always show their curiosity about Bitcoin, and they are pretty interested in getting into the Bitcoin ecosystem. But when it comes to traditional investors, it's challenging to mean them the crypto industry. Recently I faced this kind of situation.
My uncle (mother's brother) is a stock trader. He frequently trades like a day trader and invests a lot of money in mutual funds.
One day in the family gossiping, I comprised his investment plans and my investment plans. He put his money in mutual funds and did day trading. On the other hand, I put my money on Bitcoin with some substantial projects, a yield farmer, and I use crypto properly.
After listening to some opportunities about the crypto market, he started to show interest. But one question he asked that why anyone invest in something that does not have an actual existence?
I was like, how can I meant him the whole ecosystem. I just answered, Here's the game. We are in the digital world where Bitcoin would be the future worldwide currency.
I told him some benefits and opportunities are having an investment in Bitcoin. I remember I googled and found some point to point benefits of Bitcoin investment.

Advantages Of Bitcoin      

• High Potential for great returns.
• Variety of Payment option.
• Instantaneous Settlement, International Transactions.
• Diversification, Greater Liquidity

(On the other hand, I mentioned some risks also, Account hacking and High volatility).

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. I told him the fundamentals of the Bitcoin ecosystem, how the blockchain works, how anyone can send and receive the Bitcoin just having an address. I give some Youtube videos link to watch for learning more about the crypto industry.
After one week, We again sat together to talk about the market. In this one week, he learned many things about the industry. Then he was ready to invest in Bitcoin. As I knew before that, he was a day trader; that's why in the beginning, I suggested him invest in Bitcoin for the long term. After learning about the market, you would diversify your plans and strategy.
Later on, the next day, I told him about the market exchanges, DEX, CEX, where to store, how to keep your holdings safe, etc.
I described the term "Not your keys and Not your coins." That day, I suggest some Youtube videos to watch and learn properly before investing in the market.
After two days, I brought him 100$ worth of Bitcoin, suggested that he buy when the market is in dip or don't buy at once, and buy with calculating DCA. (he was pretty good in market analysing terms)
When the market fell, I gave him 50$ worth of Bitcoin as a gift for his new journey.
In our country, After the 2011 stock market crash, the market took a long time to recover the losses. Still, most of the mutual funds are at a loss. He would diversify his income by investing in the crypto market or could get a massive return in the bull market.
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.

Post source How I convinced a Stock Trader to Invest in Bitcoin

[QuickAccount]

Good job on getting your uncle into Bitcoin!

There is a slight issue though. You made it seem like you told him he was almost guaranteed that he would make large profits short term, this is not the case. Bitcoin is a solid long term investment if you're planning to hold it for a long time. Your uncle is a day trader who day trades, as in buys and sell the same stock in the same day. I don't get why you would compare to him his job, and hodling Bitcoin.

[Ryu_Ar1]

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.

[gantez]

Your uncle found it easy to understand because he already have knowledge with daily trading of stock and as such the volatility got him more interest to it. A stock trader knows the importance of volatility because that is meaning exchange is going on with in buyers and sellers creating high volumes.

[Yogee]

.... 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.

Why would you be surprised when you already said he trades often on stocks? Volatility is what most traders look for and it doesn't really matter if it's with stocks, crypto, or forex. He may be new to crypto but he's not a newbie when it's about trading.

[BIT-BENDER]

I always try to advice people about crypto-currency especially Bitcoin, but due to the fact that people always try to look for who to blame especially when things go wrong, I have shifted from trying to get them into Bitcoin through the investment powers of Bitcoin, but I rather tell the to do there own research about that, and prefer telling them about the usage of crypto-currency and how it can help them out in financial issues now and in the future

[Quidat]

I always try to advice people about crypto-currency especially Bitcoin, but due to the fact that people always try to look for who to blame especially when things go wrong, I have shifted from trying to get them into Bitcoin through the investment powers of Bitcoin, but I rather tell the to do there own research about that, and prefer telling them about the usage of crypto-currency and how it can help them out in financial issues now and in the future

Its not bad to make out some suggestions or saying up something as long you dont give out some guarantees into that someone because you would surely take the
blame if ever you do say positive things most of the time but they had lost money out of their investment just because of the risk but for someone who is a stock
trader then he do knows on how market works most of the time but the difference is very noticeable and could really be on spot to be seen on someone
does have experience on trading.Stock traders do dealt off with stocks with very minimal volatility which is totally opposite that you could see on crypto
but of course the risk is more than.

[coolcoinz]

After listening to some opportunities about the crypto market, he started to show interest. But one question he asked that why anyone invest in something that does not have an actual existence?

He must be an old traditionalist because people are investing in things that don't exist every day.

Most of the gold you invest in doesn't exist or exists only on paper.
People buy expensive domains for millions of USD, but they're only numbers on a server.
People put money in companies that never even made anything like Theranos and Nicola. You can say those two are scams, but what makes you think any startup isn't? You wire money and hope to see results. Sometimes there are some, sometimes not. Bitcoin has been showing results for the last 11 years, so I'm in.

[tippytoes]

After listening to some opportunities about the crypto market, he started to show interest. But one question he asked that why anyone invest in something that does not have an actual existence?

He must be an old traditionalist because people are investing in things that don't exist every day.

Most of the gold you invest in doesn't exist or exists only on paper.
People buy expensive domains for millions of USD, but they're only numbers on a server.
People put money in companies that never even made anything like Theranos and Nicola. You can say those two are scams, but what makes you think any startup isn't? You wire money and hope to see results. Sometimes there are some, sometimes not. Bitcoin has been showing results for the last 11 years, so I'm in.

It is not hard to look at the numbers here. If you show the bitcoin chart throughout the years, anyone I believe, will be attracted to this market. Because, let us take for example looking at the whole picture of btc market. Got it from coindesk - https://www.coindesk.com/price/bitcoin/, you can see the rise of its value in the past decade.



So a stock trader won't be hard to convince because he is already aware of this kind of movement. And they love volatility because that's where they can get good profits once they know the market.

[Sled]

He was already a stock trader so I think it was easy for him to understand how Bitcoin investment works. In fact, Bitcoin investment has no big difference when it is compared to the stock market, and the returns are still almost the same.

To have a positive view when telling someone could be the best way to encourage people. We don't need to say we can be rich in here, can make your money x100 coz they could just think that this was a scam. telling the truth is great and tells him the risks and possible losses if got the wrong decision.

[PrivacyG]

He was already a stock trader so I think it was easy for him to understand how Bitcoin investment works.

Telling them they have the possibility to buy Bitcoin on PayPal or Binance in 5 minutes is easy.  I do not agree however that being a stock trader makes it easy to understand Bitcoin.  I know enough people who can do stock trading but would not touch Cryptocurrencies.

Things get difficult because so many events affect Bitcoin's price in a certain way.  You have to thoroughly read Bitcoin's whitepaper and understand the technology to know why Halving affects the price long term.  It is not like the average stock trade where supply and demand or quarterly results of a company make the price change.

Bitcoin is hard to understand even for an experienced stock trader.  Change my mind.

-
Regards,
PrivacyG

[Oceat]

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.

Well, in most cases especially in investment you can't just expect a quick profit if you did invest in Bitcoin. You need some knowledge somehow just like what his uncle does, he already had an experience in trading and Bitcoin is not new these days that most people could scam an experience traders perhaps his uncle did already his research and is willing to take the risk.

I have a feeling that somehow his uncle wanted to invest in Bitcoin but too hesitant to join because he doesn't seem to know where to buy I guess. But thanks to the OP, it all cleared up to him that's why he got into investing Bitcoin.

[Accardo]

I think your uncle became so much interested in bitcoin the moment he discovered his Nephew will walk him through the whole market and teach him how things work out. As a stock trader, the terms may sound different but, may share same meaning to him. Despite the volatility he still fell in love with the market because he is used to that in the stock market. So, what we do at the cryptocurrency market is almost the same with other markets like the stock market. OP, I would want to know if he shared some similarities with you between crypto market and the stock market? they will be a lot to learn from such similar comparison.

[DapanasFruit]

I am happy reading a story like this because I am sure we have on the bag a potentially serious Bitcoin holder, trader and an enthusiast who can also be telling others about cryptocurrency especially when he will experience a good ROI soon. Just as Bitcoin is holding on to the $40,000 zone with this ongoing market sell-off, we have to be reminded that Bitcoin is really the future and nothing can ever stop it...and that soon many governments will recognize and make it legal. The recent recognition was coming from Ukraine, of all places, which is now on the news because of the possible invasion from Mr. Vladimir Putin of Russia. Now, I am not surprised that the uncle is not concern on volatility because he understood well that volatility can also mean big opportunities and not just risks.

[iamsheikhadil]

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

[kotajikikox]

if i stock trader as my main job i will also trade other instrument as simple as that. 

my friend of mine trade on stock and dont believe in crypto but after i screenshoot proof of my gain now he move to crypto maybe half the portofolio he convert to crypto

Stock and crypto is same as  trading platform , though there are small difference yet they are both bringing income to good trader.
I think it can easily be learned to trade in crypto than Stock but of course those  people that had been in stock trading for long time now is getting harder to move in this market of ours, but like what you did this made them interested and brings them new profiteering .
maybe for OP, he only needs to show proofs as well to make them believe in legitimacy of crypto investing and not as what many says being scam.

[yhiaali3]

Great job, it is good that you were able to convince your uncle to enter the world of bitcoin and leave speculating in stocks, this is something everyone should do with their relatives and their community to spread the culture of bitcoin and to have a community that believes in bitcoin and cryptocurrencies, we need to start from the narrow circle around us in our local community to reach " biggest goal” I mean the global adoption of Bitcoin, which we will surely get someday.
What I liked about the story is that your uncle was not afraid of Bitcoin fluctuations, but on the contrary liked it very much because he is speculative and knows the benefit of market fluctuations to make profits, even though governments are always trying to scare people from these fluctuations.

[dezoel]

That is really nice. I was also once a stock trader, but I was the one who convinced myself that Bitcoin was a better asset for me to invest in than the stock market. When I was investing in the stock market some years ago, it wasn’t really that profitable for me, the profit I was making wasn’t up to a quarter of what I have been getting since I started investing in the Bitcoin market.

So, one day I was kind of doing a research on Google, and that was how I came across Bitcoin through Google, and I decided to do further research on it so that I can fully understand what it is all about and how to go about investing my money in it. It wasn’t really difficult for me to understand it, within few days I already had my first wallet and was thinking of how to go about buying Bitcoin, and that same day had some bitcoins in my wallet as well. And I would have to also admit that Bitcoin has really changed my life. Was worth considering.

[traderethereum]

I'm glad your story went well because your uncle was open and receptive to something new.
That means he doesn't shut himself off when someone tells him something new that might benefit him.
As a stock trader, I'm sure your uncle's analysis is very good and especially if he uses his analysis in crypto, it can provide an opportunity to earn big profits.
Stock and cryptoanalysis are almost the same but if someone masters stock analysis, maybe he will not have too much trouble analyzing crypto and only needs a little adaptation. Then he will find something to enter the market.

[blatchcorn]

Stock and cryptoanalysis are almost the same but if someone masters stock analysis, maybe he will not have too much trouble analyzing crypto and only needs a little adaptation. Then he will find something to enter the market.

I would say crypto and stock are same in some ways but stock market is much more mature and regulated. Fundamental/Technical analysis works way better in stock then in crypto and its very much understandable seeing the decentralized nature of crypto. For instance, there is no such thing like The Securities and Exchange Commission (SEC) in crypto to regulate and protect investors interest.