Things to/they (should) know before talking someone into investing

[Obim34]

Talking about Bitcoin or referring a person into Bitcoin is ideal, but we ought to consider not alone talking about the peace/profitable part of the whole process but as well initiates conversations that can erase doubt, worries and unnecessary pressure from any intending Bitcoin investor. The whole conversation should not just be one that is meant to intrigue the person's mind into investing, that is the reason why most investors now are getting a lot shivery once the market begins to go sideways from what they were told which made them to invest. Bitcoin investment isn't mandatory but optional and should be approached accordingly in a more safer space.

Below are some ideals that should be considered when having Bitcoin as a digital investment option:

Bitcoin investment should at most be considered for the long term, the option should be made clear if the intending investor is ready to hold Bitcoin or he is coming in as a trader which wants those early profits.

Secondly, it is good letting them understand better about volatility, which is a mandatory phase of the Bitcoin market. Volatility is inevitable, it isn't a one way liner, it goes up and down without considering the investors choice of options whether to go in the DIP or Bull.

It is also letting off the shoulder for them to know that their portfolio is their priority and anything that happens to it lies as their responsibility whether they become unfortunate lossing all due to scam/hack or misplacement of private keys, all that happens shouldn't term Bitcoin as a failed investment but rather their incompetence to manage it.

Can also grab further outlines.

[KiaKia]

Risk talk first 

They need to know, In fact make it ring more to thier ears that losing money is very high in crypto space, all the sweet talk about how much one makes is later maybe in a good market condition, many people who are not guided right will be pissed right now because they aren't even prepared for this type of market condition, the side ways is boring and not encouraging for such people, let them know and you will be free from unnecessary blames, don't forget that people like blaming others for their own actions.

Things you must let the newbies know.

1. Unstable price action.
2. Long term market condition, especially bear market.
3. Lots of patience as an investor.

End it with the fact that crypto isn't a get rich quick haven.

[Pandu Geddon]

what happened to me was actually not referring, but more of the people who finally came and asked me about Bitcoin investment. Of course, they are the people closest to me because I do not publish anywhere about my Bitcoin ownership.

when they come and ask, of course, they have an interest in Bitcoin. and as a start then I will ask what they know about Bitcoin. it's a short discussion to find out how far their interest is. it could be real interest or just interest because they see more people posting their crypto portfolios on social media today.
we can explain and correct their wrong knowledge about Bitcoin investment from a short discussion. even more, ask about the potential of memecoin.
do you know what that means? more beginners who are interested in Bitcoin or other crypto have an understanding of how to generate success with small capital and short time. they don't know the greater risks they could face.

[Davidvictorson]

Anyone is debts is not a person to invest in bitcoin. Anyone is any kind of financial mess is not a person to invest bitcoin. They should have at least 80% of their financial lives in order before investing in bitcoin. The rule of thumb is to invest only what you can afford to lose and I presume that for you to even have the "afford to lose money", your finances should be in order if not anxiety levels will increase 100 percent whenever the price drops. I consider these things when talking to people about investing in bitcoin particularly those who have shown a little bit of an interest and curiosity in it. Aside investing for long term, I tell them the whole fact about investing in bitcoin and allow them to think about it and make the final decision.

[promise444c5]

Apart from keeping wallet  safe , i love the fact that you added Volatility, It's actually something that must be known by anyone  that willing or just starting  his/her Bitcoin Journey, they will be needing the understanding  especially when the DIP markets comes around so as not to scare them off in loss and leaving their brain  glued with the thinking that (Bitcoin is a scam  ) t thus spreading it... so it really worth mentioning.
Most people are actually after  a short quick rich means and someone with that kind of aim has a low probability of getting what he/she wants depending on some factors, I can conclude that it's actually worth mentioning all you mentioned above.

[albon]

Bitcoin investment should at most be considered for the long term, the option should be made clear if the intending investor is ready to hold Bitcoin or he is coming in as a trader which wants those early profits.

There is certainly a difference between investing and trading. Trading requires a lot of experience, monitoring, supportive strategies, and understanding of market trends and short-term price movements. Unlike investing, which requires holding Bitcoin for the long term to succeed, it relies on the investor's ability to bear risks and ignore daily fluctuations in the market.

It is also letting off the shoulder for them to know that their portfolio is their priority and anything that happens to it lies as their responsibility whether they become unfortunate lossing all due to scam/hack or misplacement of private keys, all that happens shouldn't term Bitcoin as a failed investment but rather their incompetence to manage it.

This is very true. Protecting and managing their wallets and private keys is certainly their responsibility, which must be taken into account before filling them with Bitcoin. They must have the necessary experience in this and know all the security measures they need to avoid being hacked or their wallets being drained. They should also understand how wallets work, know the different types, and choose what suits their preferences. They must understand that they should not trust strangers and tempting offers they may encounter, and they should avoid storing their assets on CEX platforms, as these are not considered secure wallets for their long-term investments.

[Richbased]

Talking about Bitcoin or referring a person into Bitcoin is ideal, but we ought to consider not alone talking about the peace/profitable part of the whole process but as well initiates conversations that can erase doubt, worries and unnecessary pressure from any intending Bitcoin investor. The whole conversation should not just be one that is meant to intrigue the person's mind into investing, that is the reason why most investors now are getting a lot shivery once the market begins to go sideways from what they were told which made them to invest. Bitcoin investment isn't mandatory but optional and should be approached accordingly in a more safer space.

The mistakes most people do is to introduce someone to something and not tell them the nitty-gritty of what they need to know that is why when some new investors more especially newbies comes into making investments in Bitcoin all their beliefs is just centered on profit making so when the market begins to fluctuate and the price starts falling they begin to have this fear in them such that they can become so traumatized at that particular time and immediately starts regretting why they invested in the first place. Anyone who is introducing anyone into investing in Bitcoin should come clean and tell them to invest with an amount that wouldn't affect them and since Bitcoin investments is about long term targets they should understand why they need to be patient and not be moved by market fluctuations when the price is going sideways.

And for anyone who has made investment in Bitcoin in the past and made good profits should not entice others by only the sweet side of their investment, they should be aware of the tough moments that Bitcoin also encounters and people should not be persuaded to invest with full alacrity, just use clear and plain terms to make them understand who will invest will invest and who is afraid should just back out because the volatility of Bitcoin is not a child's play, so anyone who can't withstand it should rather not invest.

[348Judah]

Talking about Bitcoin or referring a person into Bitcoin is ideal, but we ought to consider not alone talking about the peace/profitable part of the whole process but as well initiates conversations that can erase doubt, worries and unnecessary pressure from any intending Bitcoin investor.

If we are introducing someone to bitcoin, we should ensure thar we are not leaving some crucial aspect left undone, which means, there is a need for us to cover every aspect of investing in cryptocurrencies and this will have to include the risk and benefits altogether with the ways expected of us to know on how to avoid scams, once a newbie gets all these information, then they are to decide if they will continue or not with giving a try.

[Oshio-man]

Just tell the beginners to concentrate on the rules and quality post in this forum, and he or she will last long in this Bitcointalk, only this idea, it will make beginners to understand so many things in the nearest future.

[Moreno233]

The most important lesson a new investor should learn which you also highlighted is that Bitcoin is not a get-rich-quick something and that when investing, they should not use money they are to use for other urgent things to invest in Bitcoin. This is the mistake most new investors do especially when they joined because of the hype of fast money. So it is important we set the record straight from the beginning by telling them that having long term mindset is the way to enjoy investment in Bitcoin. If they are aware of this, they would have developed the needed mindset to withstand periods of corrections or even bear markets.

[avp2306]

Risk talk first  

They need to know, In fact make it ring more to thier ears that losing money is very high in crypto space, all the sweet talk about how much one makes is later maybe in a good market condition, many people who are not guided right will be pissed right now because they aren't even prepared for this type of market condition, the side ways is boring and not encouraging for such people, let them know and you will be free from unnecessary blames, don't forget that people like blaming others for their own actions.

Things you must let the newbies know.

1. Unstable price action.
2. Long term market condition, especially bear market.
3. Lots of patience as an investor.

End it with the fact that crypto isn't a get rich quick haven.

This is actually what I want to discuss first when there's a newbie ask me about bitcoin. I want to make them realize that their chosen investment is not easy and totally risky so that they won't come up on some idea that investing on bitcoin or crypto isn't a easy rich scheme, but rather they need to work hard so that they can earn decently.

Lots of factors can affect our potential profits and that's what I want to emphasize to those newbies seeking knowledge about this stuff what we are going on.

After talk about the risk then I think that is the best time to talk about positive things on where they could possibly earn and other things they need to do, also by selecting good activities and platforms to choose so they can try to earn without getting to much risk to lose money on those scam platforms then could able to deal with those points mentioned here.

[tabas]

IMHO, there's no need for any reference when someone is asking me about Bitcoin. More of a casual talk is pretty good and that's how a better conversation will go. And with the flow of talks will depend on how the questions are asked. Someone can be long or short-term on Bitcoin and there are no strings attached. Everyone is free to stay and go away at their own will without being forced to do so. However, it's very proven that long term is the best if the person we're talking to asks us what is the best strategy and timeframe of investing here.

[rachael9385]

The most important lesson a new investor should learn which you also highlighted is that Bitcoin is not a get-rich-quick something and that when investing, they should not use money they are to use for other urgent things to invest in Bitcoin. This is the mistake most new investors do especially when they joined because of the hype of fast money. So it is important we set the record straight from the beginning by telling them that having long term mindset is the way to enjoy investment in Bitcoin. If they are aware of this, they would have developed the needed mindset to withstand periods of corrections or even bear markets.

Reason why some new Bitcoin investors thinks that Bitcoin is a get rich quick rich quick scheme is probably because of the misinformations they have gotten from someone that doesn't know much about Bitcoin. For every investment one needs to get a good source of informations about the investment he or she want to do so that he wont be misleaded. Sometimes when new investor invest with the mindset of getting rich quick and they don't they regret and sell of and most times they sell at loss.

However, it's very proven that long term is the best if the person we're talking to asks us what is the best strategy and timeframe of investing here.

With DCA strategy one can invest in Bitcoin, wether he is a new person in the crypto space or not he can use DCA strategy to invest on Bitcoin as long as he's not having the mind of getting profits quick from Bitcoin investment. Short term investment can make an investor sell at loss or the exact amount that he invested with.

[Alpha Marine]

I don't advise people to invest in Bitcoin. I don't even mention it. Some people just want a place to invest their money and when they hear about a particular investment, they won't care about knowing about it provided they will make a profit from it. I do educate people about Bitcoin when I have the opportunity to, but I talk about it as a currency and not an asset. The only person I helped invest in Bitcoin was a friend of mine. After he understood the dynamics and risk and the fact that it's best as a long-term investment, he said he was ready to invest and I helped him out, today he does his investments himself. I helped him buy bitcoin when the price was in the 30k region so he's on the profit side currency.

I believe it's always paramount that whoever you're putting through understands the risk involved. it's very important. They also have to understand that you have no power to decide what direction the investment will go. This helps avoid a situation where the person blames you for their losses.

[tabas]

However, it's very proven that long term is the best if the person we're talking to asks us what is the best strategy and timeframe of investing here.

With DCA strategy one can invest in Bitcoin, wether he is a new person in the crypto space or not he can use DCA strategy to invest on Bitcoin as long as he's not having the mind of getting profits quick from Bitcoin investment. Short term investment can make an investor sell at loss or the exact amount that he invested with.

Everyone can do DCA and they will have an idea why many prefer to do it. There's no pressure, there's no timeframe, and as soon as you have money ready to invest then that's how and when you're going to do it. Well, someone who's short-term will surely prefer to sell at a profit and not at losses. If they do it and they're selling at losses, that's not how it goes but probably lost their patience and just decided to cut their losses. While the long term holders will mostly just take profit when they're about to sell.

[Dzwaafu11]

I don't advise people to invest in Bitcoin. I don't even mention it. Some people just want a place to invest their money and when they hear about a particular investment, they won't care about knowing about it provided they will make a profit from it.

It's not good to advise people to invest in bitcoin normally because anything that happens, you will be the one to blame, for the fact that if it’s advised, there are some things you won’t want them to know since you just want to convince them to understand the concept of bitcoin investment. 

I do educate people about Bitcoin when I have the opportunity to, but I talk about it as a currency and not an asset.

It will be better if you also educate them that it is an asset, because that will make them put in more effort or convince them more that bitcoin is very important and it will positively benefit their lives as time goes on, but if you tell them that it is just a currency, they will definitely not value it that much because they have already gotten used to the fiat currency.

But when you educate them on how profitable bitcoin investment is and if they invest in it for a long time and also tell them the risks and every single aspect of bitcoin investment, I believe people will have an interest in investing. But telling them it's just a currency won’t make them believe in it that much, like when you tell them it's an investment or asset.

[Ojima-ojo]

Just tell the beginners to concentrate on the rules and quality post in this forum, and he or she will last long in this Bitcointalk, only this idea, it will make beginners to understand so many things in the nearest future.

The question and thread is about newbies introduction to Bitcoin investment and not Bitcointalk Forum, there is a difference between this forum and Bitcoin investment itself, because some people may be interested in the investment aspect of Bitcoin and not being interested in forum activities and discussions.


So first thing first which is how to securely invest in Bitcoin and be at less risk, which I think having some level of financial implications of Bitcoin investment will help a whole lots because that the only way to be at a good position regardless of what may eventually happens with the market.

[Roseline492]

Reason why some new Bitcoin investors thinks that Bitcoin is a get rich quick rich quick scheme is probably because of the misinformations they have gotten from someone that doesn't know much about Bitcoin. For every investment one needs to get a good source of informations about the investment he or she want to do so that he wont be misleaded. Sometimes when new investor invest with the mindset of getting rich quick and they don't they regret and sell of and most times they sell at loss.

What attracted majority of people into Bitcoin is not just only the misinformation they get from people because so many people got attracted by the price of Bitcoin and they are always with the mindset that they can easily cash out money from Bitcoin without taking much of time, and also just like others has explained one of the major thing that also get people attention into Bitcoin is that if they saw someone who made a lot of profit from there Bitcoin investment they would be tempted to try it out, though there is nothing wrong for a beginner to hope for a good return from there Bitcoin investment but having the mindset of becoming rich overnight through there investment is actually what makes it bad, so perhaps people should endeavour to really inculcate the beginners who will come to them for guideline on how they can start investing on Bitcoin, by letting them no what it takes to be an investor so that they will no the direction they are going.

[EluguHcman]

Being aware that there is no interpersonal marketing skills to profit one sided investors while invested in Bitcoin, I wonder why investors would ought to bring in more investors to the market without being open minded of talking to them about the Ups and the DOWNs so that they can prepare not just their funds to be risked but as their emotions to withstand the market sentiments.

To an extend, it feels like such investors are running some kind marketing selfish interests since they fails to let the enthusiasts intending to invest on Bitcoin know the risks and profits realities of Bitcoin before Investing.

Unknowingly to such dubious misleading investors, they are to be blamed when such newly investors began to experience some emotional challenges during when their holdings are depreciating.

[Crypt0Gore]

I always tell people these first.

If you don't have a job bitcoin or crypto investment is not for you.

You will start panicking if you don't have any other source of income, these past months the market have been so good at shaking the weak hands out, those who don't have another source of income would have sell off at loss and walk on.

First of all an income is important and secondly, invest only what you can afford to lose, do not invest everything you have, always put yourself first because health is the real wealth, the best investments are always a long term journey, you need to keep yourself in good shape before the time comes.