I helped my dad bought some Bitcoin last night

[Lizzylove1]

Fantastic, It may turn out to be a good retirement plan in the near future. Nevertheless, to have a total control of his bitcoin, I strongly advise you walk him through a decentralized wallet and have him withdraw the btc to a backed up private wallet. 

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[Pierre 2]

I feel so good when old person comes to me and instead of asking about Bitcoin price, directly saying he/she wants to buy Bitcoin. There are so many easier options now. Binance TR especially has many support from many banks in Türkiye so you can trade 7/24 nearly, very very easily. My mum also uses binance and one more local exchange. She holds Bitcoin since like when? it was like 10.000 usd I think when she first bought.

[cheezcarls]

When I got home last night, my dad and I are eating some chicharon a.k.a. pork rinds while watching basketball on TV. Then suddenly my dad showed to me his iPad about Binance to check if its legit or not. I said that it’s legit once he installs the correct app and not the fake one.

Do you want to tell me that it seems you don't forum from the beginning to now that you're here remember that I have not heard of binance exchange before I think this is totally lie because for you to be a member of the showroom you have known by nonsense because if you go to altcoin bored every discussion that lead to buying and selling or bitcoin always narrow to The binance exchange so I think that's not true

I don't understand what you mean. Very confusing. 

It seems that you misunderstood the topic here. Perhaps you might want to re-read it again.

It's interesting you sold Bitcoin to your dad lol (just fund fact). Anyway good to see your dad convince himself to buy Bitcoin. No doubts your dad choose a good exchange but don't encourage him to hold Bitcoin there. Even if you teach him about 2FA and potential risk, but better teach him about non-custodial wallets like Electrum or hardware wallet. Not sure how big the amount but better practice good things. Binance is good for trending, not for holding.

I sold USDT instead and then convert it into Bitcoin in his own Binance account.

[arwin100]

When I got home last night, my dad and I are eating some chicharon a.k.a. pork rinds while watching basketball on TV. Then suddenly my dad showed to me his iPad about Binance to check if its legit or not. I said that it’s legit once he installs the correct app and not the fake one.

I thought he just wanna install it and explore, but he seriously wants to buy some Bitcoin with his extra money that he didn’t need for now. He just wants to try buy and hold Bitcoin. He already knew that I am in this industry for a long while, but yeah it’s never too late for him to buy his first Bitcoin.

I have never convinced or forced him to buy BTC since I started my journey. He’s just being interested in all of a sudden that’s all. So I educated him about the basics, managing financial risks, fees, etc., letting him understand and acknowledge that there are no promises or astronomical guaranteed returns. I also sign him up on Binance using my referral link and assisted him in setting up 2FA, KYC, etc.

He wanted to buy using his credit card, but I rather have him buy through me instead to save fees since I can transfer USDT to his account immediately on Binance without fees and convert it into Bitcoin. So yeah now my dad has some Bitcoin in his Binance account.

Good to see a father and son doing some quality bonding on investment. Hopefully you keep an eye on what your father do and also frequently tell him about scamming methods made by some people also make him understand that people who offer something on social media especially who tell them that they are trading expert and they can also earn with them if he invest some amount are 100% scam. Make him realize that there no free things on internet and no random people will help you to earn so that he can avoid such people who promise heaven and earth to him.

[Tony116]

It's great to know that older people are interested in bitcoin and crypto as well, I always thought that only younger generations have a passion for bitcoin as majority of older people tend to prefer stability and not likes to accept new things.

Can you tell me how old is your father? because it's amazing that he did everything himself before talking to you to buy bitcoin even he found and downloaded the official binance app. For my dad, using smartphones is also very difficult because of his old age, let alone using them to engage in cryptocurrency.

[dlightag]

Wow, that is a good one to hear, because your dad accept changes and understand that we are na into digital world in Era of technology, which he adopted into the system, that is a smart move of him, and also a privilege to have a son that is into cryptocurrency industries, which has added advantage to him to start investing on bitcoin.

[KingsDen]

It's interesting you sold Bitcoin to your dad lol (just fund fact). Anyway good to see your dad convince himself to buy Bitcoin. No doubts your dad choose a good exchange but don't encourage him to hold Bitcoin there. Even if you teach him about 2FA and potential risk, but better teach him about non-custodial wallets like Electrum or hardware wallet. Not sure how big the amount but better practice good things. Binance is good for trending, not for holding.

That is a great insight. Although he guided his dad to set up the 2fa and kyf and made his account more secure, but yet it is not 100% safe. I am of thr opinion that his dad may have a plan to invest huge money into bitcoin, maybe part of his life savings. That is why Op needs to teach him everything, especially about private wallets where he will own his keys and control his funds. If you don't teach him all he needs to do, at some points you may not be available for him to ask some questions and he will try to handle things himself and makes mistakes.  Teach him No your keys no your coins.

[Sanitough]

When I got home last night, my dad and I are eating some chicharon a.k.a. pork rinds while watching basketball on TV. Then suddenly my dad showed to me his iPad about Binance to check if its legit or not. I said that it’s legit once he installs the correct app and not the fake one.

I thought he just wanna install it and explore, but he seriously wants to buy some Bitcoin with his extra money that he didn’t need for now. He just wants to try buy and hold Bitcoin. He already knew that I am in this industry for a long while, but yeah it’s never too late for him to buy his first Bitcoin.

I have never convinced or forced him to buy BTC since I started my journey. He’s just being interested in all of a sudden that’s all. So I educated him about the basics, managing financial risks, fees, etc., letting him understand and acknowledge that there are no promises or astronomical guaranteed returns. I also sign him up on Binance using my referral link and assisted him in setting up 2FA, KYC, etc.

He wanted to buy using his credit card, but I rather have him buy through me instead to save fees since I can transfer USDT to his account immediately on Binance without fees and convert it into Bitcoin. So yeah now my dad has some Bitcoin in his Binance account.

Congrats on both of you as you made it finally seeing your father already investing in bitcoin. Though it’s not you that get to convinced him, but I’m glad that he ended up trusting in bitcoin which for sure he will never regret in the future. I guess there will be no problems in the future as long as your father never decides on his own without consulting on you first. Just guide him all the way, I’m sure you’ll be happy seeing your father also in profit in the future, same feeling when you started first in bitcoin.

[KennyR]

It's interesting you sold Bitcoin to your dad lol (just fund fact). Anyway good to see your dad convince himself to buy Bitcoin. No doubts your dad choose a good exchange but don't encourage him to hold Bitcoin there. Even if you teach him about 2FA and potential risk, but better teach him about non-custodial wallets like Electrum or hardware wallet. Not sure how big the amount but better practice good things. Binance is good for trending, not for holding.

That is a great insight. Although he guided his dad to set up the 2fa and kyf and made his account more secure, but yet it is not 100% safe. I am of thr opinion that his dad may have a plan to invest huge money into bitcoin, maybe part of his life savings. That is why Op needs to teach him everything, especially about private wallets where he will own his keys and control his funds. If you don't teach him all he needs to do, at some points you may not be available for him to ask some questions and he will try to handle things himself and makes mistakes.  Teach him No your keys no your coins.

Agreed, there is a need of teaching about all the security needs and the privacy needs while using cryptocurrencies. Maybe the practice to teach them about this when someone is interested into buying bitcoin might end up with fear of losing. So, it is good to set them the base and later explain them about the real market as well as the security things associated with cryptocurrency.

[Russlenat]

Nice to hear the OP's story, if my dad is like you I suggest buying bitcoins and using them myself and I will teach my dad in detail how to buy and sell especially to hold them long term. But unfortunately my father is very old and can't even use a smartphone.
but I taught it to some of my family members long ago and until now, and with a record of using the money they can afford to lose. Actually this is the best way to spread bitcoins and it doesn't need to be to distant people or unknown people if there are close family or friends which I think we will be happy if they enjoy it and also easy to discuss or share ideas because we often meet.

It’s good to share the same interest with your family members, but most likely this is not what happening in most of us. Some are just hesitant to trust bitcoin and take the risk in investing, while others are very supportive on whatever their family members are into. I’m just glad that at the end of the day, OP’s dad finally decide to trust and invest in bitcoin. With the utmost help from his son, I guess things will be quite easier for him in the crypto investment even if it means he’s a completely newbie in crypto investment.

[Mpamaegbu]

He wanted to buy using his credit card, but I rather have him buy through me instead to save fees since I can transfer USDT to his account immediately on Binance without fees and convert it into Bitcoin. So yeah now my dad has some Bitcoin in his Binance account.

Hopefully, one day he catches the BTT bug and makes an entry here to register too and speed up his learning process.

[landheer]

now more and more people are interested in investing in bitcoin, for example, like what your father did, and what your father did, REALLY COOL, hopefully your father's investment in bitcoin works out well. and I'm sure that now more and more people are realizing how important it is to invest in bitcoin, because investing in bitcoin will make the future bright. because bitcoin in the future in my opinion the price will be very high.

[Bazzu]

Interesting topic, my friend, your father is very thoughtful, because he is very brave to invest in bitcoin, but events like that remind me of when I first invested in bitcoin. At first I used to download the application, BINANCE, and I thought that it was a game, after I asked my younger brother what game application is this? and my younger brother  replied that it was not a game application, but an application for buying and selling bitcoin and crypto, and since then I was immediately interested in investing in bitcoin, and it is still running until now.
yes,,, hopefully your dad is fine investment goes well.

[Cryptmuster]

It is commendable of you to help your father take his first steps in the crypt, but he still has a lot to learn. And here it would probably be worth starting with the fact that you should never store your coins on an exchange account, since this is very risky and anything can happen to them, from account blocking to a hacker attack. One of the previous posts was right that your father should be registered here at BTT so that he can independently study the issues of interest to him, this would greatly speed up the understanding of the essence.

[coinerer]

Congratulations for your dad for bought and known about bitcoin at the first time. But since your father has started a new journey in one bitcoin, you must guide your father well so that he does not take any wrong decision or action and get financially harmed. I again appreciate your father for getting attracted to Bitcoin and investing in Bitcoin at this old age.

[Chato1977]

. So yeah now my dad has some Bitcoin in his Binance account.

with this? meaning it is a beginning of something bigger as parents really wanted to have a secure and stable funds and yeah this is what crypto promises now, though not completely stable but once you understand its nature then you can also call this as an permanent investment readying for their retirement.

I myself is a parent and having crypto as my retirement funds .

[laurenB7742]

It is commendable of you to help your father take his first steps in the crypt, but he still has a lot to learn. And here it would probably be worth starting with the fact that you should never store your coins on an exchange account, since this is very risky and anything can happen to them, from account blocking to a hacker attack. One of the previous posts was right that your father should be registered here at BTT so that he can independently study the issues of interest to him, this would greatly speed up the understanding of the essence.

Perhaps his dad is new and needs more knowledge to realize the importance and difference between a non-custodial wallet and an exchange account. Since his dad figured things out on his own without anyone's help, I don't think his advice won't work, the best way is that OP should create an account on the forum so that his dad can research and learn the necessary knowledge by himself. He's a very smart old man who finds out everything on his own, I don't think it will take too long for him to realize everything.

[naira]

If your dad wants to buy and hold, is it worth keeping on the stock exchange? your dad is getting old and what if he forgets? your job is to make sure that the assets it holds are not frozen. Connect to the exchange without trading then pull the lag to a cold wallet and you keep your seeds in a safe place. I am amazed by such parents where most of us parents prefer stable assets and are conventional investments. He probably has a broad enough perspective to dare to buy Bitcoin.

I hope you make sure that the asset is on a safe exchange if you don't withdraw it.

[len01]

maybe your father is young and you are lucky to have such a father.
actually i also still have a father but he is a bit old and difficult to tell about crypto.
but i also have an experience like you if i tell and give basic lessons to my wife and children about bitcoin and about investing in bitcoin. and from now on they have started to be able to do it themselves and every week my wife and children always set aside money to buy bitcoin and hold it until the bull comes.
very good to give knowledge about bitcoin to family or relatives and start investing.


but for the OP, you shouldn't be sending USDT to your father's binance account. let your father buy with his own money. so that your father will understand better how to deposit and buy bitcoins

[gunhell16]

When I got home last night, my dad and I are eating some chicharon a.k.a. pork rinds while watching basketball on TV. Then suddenly my dad showed to me his iPad about Binance to check if its legit or not. I said that it’s legit once he installs the correct app and not the fake one.

I thought he just wanna install it and explore, but he seriously wants to buy some Bitcoin with his extra money that he didn’t need for now. He just wants to try buy and hold Bitcoin. He already knew that I am in this industry for a long while, but yeah it’s never too late for him to buy his first Bitcoin.

I have never convinced or forced him to buy BTC since I started my journey. He’s just being interested in all of a sudden that’s all. So I educated him about the basics, managing financial risks, fees, etc., letting him understand and acknowledge that there are no promises or astronomical guaranteed returns. I also sign him up on Binance using my referral link and assisted him in setting up 2FA, KYC, etc.

He wanted to buy using his credit card, but I rather have him buy through me instead to save fees since I can transfer USDT to his account immediately on Binance without fees and convert it into Bitcoin. So yeah now my dad has some Bitcoin in his Binance account.

Perhaps, even before the thing that your father is going to ask you, he may have done his research about bitcoin, or he may have someone else he knows who is also a friend of his who mentioned to him that matter besides knowing that you are also here in this industry. So out of curiosity he discovered and saw the potential of bitcoin.

The only good thing is that he asked you because he knows that you are also doing bitcoin trading in this industry. And it's an advantage because your father also trusts you in this matter, so you made a good move dude, and I congratulate you on that matter.