The best advise given to a friend that needs to invest in any scheme .

[Umulala-alala]

Your friend asked you about Bitcoin, which means he already has little knowledge about it. You have done well by giving him the guide on how to acquire Bitcoin, but there are a few things which you did not mention here that I consider important if you want to be honest with any investor.

I hope you did not forget to tell him about how profit is not always counted; sometimes the market can be against him, and he will see his capital reducing and how to react in such situations. And I also hope you did not forget to educate him about the importance of security in his holdings in order for him not to lose it to hungry scammers.

It will be good he also told him that nothing is guaranteed in bitcoin investment as he can loss and also gain the market odd might go against him maybe dip below the amount he bought, also tell him about the fluctuation system of BTC how it goes up and down, lastly that bitcoin investment is not also like a bonzi scheme where you will expect quick gain or profit that he should also have the patient to hodl BTC for long.

[Judith87403]

It will be good he also told him that nothing is guaranteed in bitcoin investment as he can loss and also gain the market odd might go against him maybe dip below the amount he bought, also tell him about the fluctuation system of BTC how it goes up and down, lastly that bitcoin investment is not also like a bonzi scheme where you will expect quick gain or profit that he should also have the patient to hodl BTC for long.

The last part of your statement is the most important part that every newbie need to know and understand, this is because most people who enter the space are literally just coming for some quick profits and because they need an alternative source of income, which Bitcoin doesn’t offer for newbies, on the contrary it’ll still require more from you, require your money, your time amongst others. So let him remove any kind of thought that he’s coming to invest in something that will start giving him profits any time soon because that’ll only only make him land himself in lots of trouble.

[Achalugo BTC]

You did well by telling your friend about Bitcoin investment but one thing I was expecting from you to tell your friend is that he needs to be fully aware of the potential benefits risk aspect of Bitcoin, Bitcoin is not a quick and get rich scheme, for him to see reasonable profit he must able to for a long term unless maybe you are encouraging him for a short term profits maximization which can be very risky especially for a beginners because of the volatility nature of Bitcoin, he might invest and Bitcoin can dip, I just hope that you are giving him more lectures about Bitcoin investment.

E dey very important for people to take note of that, even me if i tell person about investing in Bitcoin, I no dey for forget to tell them about the potential risks wey dey involve, infact I dey first tell them say investing in Bitcoin no dey instantly make person rich, make they first bear that one for mind so that if they decide to invest nobody go dey pressure me say them never see any profit or dey disturb me about profit like say i dey owe them money. Na why e dey important to dey let people know everything about investing in Bitcoin for my own peace of mind and for their own knowledge or for their own good too.

[SuperBitMan]

Your friend asked you about Bitcoin, which means he already has little knowledge about it. You have done well by giving him the guide on how to acquire Bitcoin, but there are a few things which you did not mention here that I consider important if you want to be honest with any investor.

I hope you did not forget to tell him about how profit is not always counted; sometimes the market can be against him, and he will see his capital reducing and how to react in such situations. And I also hope you did not forget to educate him about the importance of security in his holdings in order for him not to lose it to hungry scammers.

It will be good he also told him that nothing is guaranteed in bitcoin investment as he can loss and also gain the market odd might go against him maybe dip below the amount he bought, also tell him about the fluctuation system of BTC how it goes up and down, lastly that bitcoin investment is not also like a bonzi scheme where you will expect quick gain or profit that he should also have the patient to hodl BTC for long.

It is very important that we tell anyone that we want to introduce into bitcoin investment all this you have listed because a lot of people come into Bitcoin investment and go out very fast because they didn't have good knowledge about Bitcoin, some set of people think that bitcoin investment is like ponzing scheme that you can just invest on and then get a return profit very fast but when they noticed is not like that they decide to go out from Bitcoin, just like you said it is very important that we let those that we are introducing into Bitcoin know that they can gain profit from Bitcoin and may also lose from Bitcoin however I will always advise those that I'm bringing or introducing into Bitcoin to stick with long-term bitcoin investment because it's less risky, in Long Time bitcoin investment I don't think it is possible for you to lose your money totally except Bitcoin is no more existing or bitcoin stop growing which I think is impossible to happen.

[Princess Leah]

 Your choice of topic is concerning an advise for people that's in need of investing in a scheme yet you're talking about Bitcoin investment, first off I want to let you know that Bitcoin investment is not a scheme or related to any ponzi scheme in anyway, it's tested and trusted and the best digital investment that anyone willing can be introduced to.

 Anyways, maybe your friend have got a little idea of how beneficial Bitcoin investment could be that's why he picked interest and since he has a source of income which he can generate his discretionary with, he's good to go he just needs guidance from you on how to go about it since you're more knowledgeable compared to him. He made a good choice anyways cause Bitcoin is one of the surest form of modern investment opportunity.

[liasbaa]

The important thing here is that your friend is a farmer but is looking for an alternative source of income and he has come to know about Bitcoin. You have advised him on investing in Bitcoin and explained in detail how this asset works. It is more important to inform your friend about the risks before telling him about the positive aspects of Bitcoin. Most newbies are attracted to investing only by knowing the positive aspects of Bitcoin and your friend may have been attracted to Bitcoin in the same way.

If your friend starts investing in Bitcoin through discretionary income and has a long-term target, then you have done the right thing for him. If he gets involved in short term trading and loses money, he may blame you later.

[JoyceBTC]

There are many people out there that have enough discretionary income but they don't know the best investments should embark on till one day a friend of mine that is a farmer and i know that he has been gotten profits through his farming work, he came to me and ask me if he should invest in Bitcoin investments how can he gain more profits because he has been reporting his discretionary income to the bank without having a profit instead he do received debit all the time from the bank, then i started explaining how Bitcoin works and how he gets more profits once he starts accumulating his Bitcoin, i want ahead showing and telling how dollar cost average have make it easier for newbie to buy gradually by gradually when comes to buying of Bitcoin, he agreed with me and he have started investing because he said that he doesn't want bank people should be deducting from his bank account, and even since that friend of mine that is a farmer has been thanking for adding another skill to him joined to his farming work, so i want know if actually i did the right thing by introducing him into Bitcoin investments?

With this your story, I don't think anyone will say you did a bad thing by introducing your friend to Bitcoin investment. Rather, they will say you have done the right thing.But I hope you made it clear to your friend that Bitcoin is all about long-term investment, and profit should not be expected immediately or in short period.the best approach is to invest only the money that one does not intend to use in the nearest future.this is especially important because most farmers usually get money during the harvest period. It is during that time they often have discretionary funds money they get after harvesting which they typically plan to use for the next farming season.

So, I hope the money your friend invested wasn’t from those discretionary funds that were already planned for the next farmingcseason. Because most farmers use the money they get after cultivation to fund the following season. He should not assume that when the time comes to farm again, he will simply sell part of his Bitcoin investment to fund it.

Sure i explained everything to him and i went further showing him my investment that has started running and how many years I'm plan to allow it to runs before selling it and stick to it, there is something he said that I'm sure he can make a good Bitcoiner, that i don't have the knowledge the amount of money you do save in his account before now after paying all his bills, he still have enough discretionary income which he do save in the bank, so as newbie that he is right now, he is still on the learning process and i showed him how the forum look like and the rules that govern the forum not to fall victim within the forum and he has been doing well ever since i introduced to this forum.

Okay good you further explained all this for him, so his fully aware the kind of investment his going into. So in the future if Bitcoin starts experiencing a dip, he will be fully prepared to pass through that stage because he believes he has been informed before and not get scared and take his money off the investment

Because we all know that when it comes to bitcoin investment we need patience to HODL for a longer time in order to make good profit and I also hope he makes good profit over time from his investment.

[Samlucky O]

As you tell your friend about how to invest for Bitcoin no bad but next time make you try Also to educate am about the risk involve, try let am know say Bitcoin dey volatile meaning say e fit go up now and the next minute e fit just drop, so that when him see that kind thing him go rest, make him mind no fly because if you only tell person about the Rosy part and e happened say all in mind na say na only up up e go dey go and instead of him to see am the way you talk, him fit blame you say you decieve am to invest where him money start to depreciate. Emagine say you preach good about Bitcoin when e dey around $126k say make person buy, and you tell am base on speculation say very soon e go reach $150k and e come happen say Bitcoin come drop reach this current price of $89-90k wetting you go be to that person? Definitely a lier wey decieve am to lose money. So make we dey clear for the type of advice we give make we no go put trouble for our head ontop say we wan help.

[ruykeri]

The important thing here is that your friend is a farmer but is looking for an alternative source of income and he has come to know about Bitcoin. You have advised him on investing in Bitcoin and explained in detail how this asset works. It is more important to inform your friend about the risks before telling him about the positive aspects of Bitcoin. Most newbies are attracted to investing only by knowing the positive aspects of Bitcoin and your friend may have been attracted to Bitcoin in the same way.

If your friend starts investing in Bitcoin through discretionary income and has a long-term target, then you have done the right thing for him. If he gets involved in short term trading and loses money, he may blame you later.

You are right, when giving investment advice to someone, it is necessary to inform them about the risks. Because if those who invest for the first time do not know the good aspects of investing for a long time, then if they make a small profit, they may sell it. Later, if they invest again for a short time, after a few days, it was seen that the price of Bitcoin started falling, after which they may choose the path of panic selling even if they do not sell forcefully. Therefore, when giving investment advice to someone, they should teach them a complete of things. And if someone does not show interest, I think it is better not to tell them anything about investing in Bitcoin.

[Cryptoprincess101]

Bitcoin is not a skill as you stated in your write up, it is an investment so you should take note of that. Introducing someone into bitcoin is not a problem but have you settled down and teach him more things he needs to know about bitcoin? because if he only invested with the mentality of making profits, what about the bearish days, can he be able to hodl when the market is depreciating. Have you also taught him how to protect his wallet and how important his seed phrase is, and for him to keep it in a secret place where only him can get access to it.
     I still want to emphasize more on the need for him to know about the market changes so that he doesn't become emotional and you also need to tell him that bitcoin investment is for a long term and not just something he will invest and want to make profits within a short interval of time.

You missed understand me because i didn't say Bitcoin is a skill, rather i said that my came to me that you needed to add more skill to his farm work, that is where i have no options that to introduce him to Bitcoin since he has gather so much money from the farm work, so don't miss quote me, and talking about telling him in full detail on how to go about his Bitcoin portfolio and to be able withstand the bear market, believe me that he is doing marvelous well in accumulating his Bitcoin portfolio using DCA strategy.

Did you really understand what you wrote? Your friend needed a skill to add to his farm work, and you introduced him to bitcoin. How does it sound to you please make me to understand. Bro you should have said that he needed where to invest the proceeds that came out from his farming work then you introduced him to bitcoin, very simple. Bitcoin is not a skill to introduce to someone.

[Stable090]

There are many people out there that have enough discretionary income but they don't know the best investments should embark on till one day a friend of mine that is a farmer and i know that he has been gotten profits through his farming work, he came to me and ask me if he should invest in Bitcoin investments how can he gain more profits because he has been reporting his discretionary income to the bank without having a profit instead he do received debit all the time from the bank, then i started explaining how Bitcoin works and how he gets more profits once he starts accumulating his Bitcoin,  i want ahead showing and telling how dollar cost average have make it easier for newbie to buy gradually by gradually when comes to buying of Bitcoin, he agreed with me and he have started investing because he said that he doesn't want bank people should be deducting from his bank account, and even since that friend of mine that is a farmer has been thanking for adding another skill to him joined to his farming work, so i want know if actually i did the right thing by introducing him into Bitcoin investments?

You introducing ur friend to bitcoin investment na better idea make I no lie give u, but make u just make sure say you tell am everything wey him suppose know about bitcoin investment, make him know say if him wan make better money for bitcoin investment, him go need hold bitcoin for long term, make him no come Dey reason say bitcoin na Ponzi scheme, where him go fit make quick money within short period of time.

Make u tell am about how him go take protect him bitcoin because as u can see him no too get knowledge about bitcoin yet, make him no go receive message from scammers make him no fall for their trap, make him know say anybody wey message am about bitcoin investment or any investment wan just scam am. Make him protect him private key well, because if him lose am, dem him don lose him bitcoin be that. Plenty things Dey wey u suppose explain give am ooo.

[Qhunman]

Bitcoin is not a skill as you stated in your write up, it is an investment so you should take note of that. Introducing someone into bitcoin is not a problem but have you settled down and teach him more things he needs to know about bitcoin? because if he only invested with the mentality of making profits, what about the bearish days, can he be able to hodl when the market is depreciating. Have you also taught him how to protect his wallet and how important his seed phrase is, and for him to keep it in a secret place where only him can get access to it.
     I still want to emphasize more on the need for him to know about the market changes so that he doesn't become emotional and you also need to tell him that bitcoin investment is for a long term and not just something he will invest and want to make profits within a short interval of time.

You missed understand me because i didn't say Bitcoin is a skill, rather i said that my came to me that you needed to add more skill to his farm work, that is where i have no options that to introduce him to Bitcoin since he has gather so much money from the farm work, so don't miss quote me, and talking about telling him in full detail on how to go about his Bitcoin portfolio and to be able withstand the bear market, believe me that he is doing marvelous well in accumulating his Bitcoin portfolio using DCA strategy.

Your post needed clarity because actually, what your friend needed was a skill and not where he could invest. While equally acquiring a skill is not an investment but it's good you introducing him to Bitcoin investment besides,it is the best investment available. Bitcoin investment is not complicating to understand how it works, and I hope you friend can get acquainted to it if he can dedicate his time into learning the basics. I hope you have explained to  him that there is no guarantee in bitcoin investment and everything he needed to learn from you for him not to make terrible mistakes in the future.

[Su-asa]

You need to tell him everything there is to know about Bitcoin not just the highs but also the lows as well because the market always goes through a dip, that's unavoidable. since he's working hard to stack up his income in bitcoin he must also know that the market can be very unstable so he doesn't and make any mistakes like selling at that point when the price is low. beginners can tend to fidget whenever the price of bitcoin goes down but it is normal,  when they gain experience they become more confident and less fearful

[NurseHub]

Well if he doesn't like bank deducting his money then bitcoin should be a currency for him to use and not an investment so in my opinion I see that op is complicated in terms so ideals of what bitcoin is and what it's not, if you want to introduce someone to investment in bitcoin then it should be solely because they don't know where to invest their money in a long run not an amount that they will use in recent time but for a long time, so your friend as a farmer might make the best out of bitcoin except he wants it for a long term.

[aysha9853]

There are many people out there that have enough discretionary income but they don't know the best investments should embark on till one day a friend of mine that is a farmer and i know that he has been gotten profits through his farming work, he came to me and ask me if he should invest in Bitcoin investments how can he gain more profits because he has been reporting his discretionary income to the bank without having a profit instead he do received debit all the time from the bank, then i started explaining how Bitcoin works and how he gets more profits once he starts accumulating his Bitcoin,  i want ahead showing and telling how dollar cost average have make it easier for newbie to buy gradually by gradually when comes to buying of Bitcoin, he agreed with me and he have started investing because he said that he doesn't want bank people should be deducting from his bank account, and even since that friend of mine that is a farmer has been thanking for adding another skill to him joined to his farming work, so i want know if actually i did the right thing by introducing him into Bitcoin investments?

You did the right thing as long as you explained the risks too. Teaching him how BTC works and using DCA is solid advice for a newbie, way better than telling him to go all-in. Banks eating fees is a real pain, so diversifying into BTC makes sense if he’s investing only what he can afford to hold long-term. Knowledge + patience is the real win here, not quick profits.

[Different patterns]

You did well by telling your friend about Bitcoin investment but one thing I was expecting from you to tell your friend is that he needs to be fully aware of the potential benefits risk aspect of Bitcoin, Bitcoin is not a quick and get rich scheme, for him to see reasonable profit he must able to for a long term unless maybe you are encouraging him for a short term profits maximization which can be very risky especially for a beginners because of the volatility nature of Bitcoin, he might invest and Bitcoin can dip, I just hope that you are giving him more lectures about Bitcoin investment.

E dey very important for people to take note of that, even me if i tell person about investing in Bitcoin, I no dey for forget to tell them about the potential risks wey dey involve, infact I dey first tell them say investing in Bitcoin no dey instantly make person rich, make they first bear that one for mind so that if they decide to invest nobody go dey pressure me say them never see any profit or dey disturb me about profit like say i dey owe them money. Na why e dey important to dey let people know everything about investing in Bitcoin for my own peace of mind and for their own knowledge or for their own good too.

I agree with this your view, and the point really make sense to me. to tell person about bitcoin is a very good idea, but e no make sense if  you do not tell am complete, that's if you refuse to  explain the risk side for the person clearly, that mean the explanation of bitcoin you do is not complete, because the person mindset will go straight to bitcoin is get rich quick which is not, because anybody wey enter bitcoin investment with that kind mindset go likely get disappointed or make a very wrong decision, most especially that mostly happens to beginners.

The only safe way to succeed is the long term investment, is not a good idea to dey chase quick profit. Because short term investment for bitcoin dey very risky, because the price fit change when you no even expect am, and if the price dip unexpected, and you no really understand how it works, you fit panic and sell with loss or even blame the person that introduces you join.

[Yeesha]

Your friend should know that Bitcoin investment is not get rich quick scheme, if he has enough money to buy bitcoin he should he should be patient to invest because it will take a long time to get the kind of profits that he will appreciate. Moreover he is a farmer and he must know what patient really are. So for patient he might have it. I really enjoyed seeing people referring Bitcoin investment, but there are some stress attached to it because you will take your time to lecture the person about crypto currency.

That is one of the important aspects of investing whether it's Bitcoin or any other things. Whether it is Bitcoin, buying stocks, putting money in a business or even picking a savings plan, you should know what you are getting yourself into. Don't just jump in, because everyone else is doing it, or because you heard that it going to make you rich quick, that's how some people end up losing their shirts. Take time to figure out how it works, know the risks, and decide if it fits you or not. Things are riskier than others and it is very important for us to know that, so that you shouldn't end up losing more than you can afford to lose. The goal of investment isn't to follow the crowd, it is to make informed decisions and smart choices with your money, in a way that moves you closer to your goals.

[Pi-network314159]

I hope you told him that Bitcoin is not a Ponzi scheme, because you sounded as if Bitcoin was a get rich quick scheme by telling him that there is a place where he will put his money and make profit. Well there is profit in Bitcoin though, but in as much as Bitcoin investment is concerned it takes time toake profit and requires a person with high level of endurance to be able toake profit from Bitcoin. I Know of people who I introduced Bitcoin to, but since Bitcoin didn't give them the instant money they wanted, they quit holding and sold it. And that made me to vow not to tell anyone about Bitcoin without letting them know the risk part of it. If people are not fully awear of Bitcoin risk, it will look like it's a bed of roses. Let's be clear and precise about Bitcoin when educating people so you will not be blamed tomorrow.

[Gost ms]

There are many people out there that have enough discretionary income but they don't know the best investments should embark on till one day a friend of mine that is a farmer and i know that he has been gotten profits through his farming work, he came to me and ask me if he should invest in Bitcoin investments how can he gain more profits because he has been reporting his discretionary income to the bank without having a profit instead he do received debit all the time from the bank, then i started explaining how Bitcoin works and how he gets more profits once he starts accumulating his Bitcoin,  i want ahead showing and telling how dollar cost average have make it easier for newbie to buy gradually by gradually when comes to buying of Bitcoin, he agreed with me and he have started investing because he said that he doesn't want bank people should be deducting from his bank account, and even since that friend of mine that is a farmer has been thanking for adding another skill to him joined to his farming work, so i want know if actually i did the right thing by introducing him into Bitcoin investments?

Your friend came to you to learn about Bitcoin and you gave him an idea about Bitcoin and he started investing with the idea from you. It was a very nice thing. But I think one thing is very bad, you did not give your friend any idea about the risks of Bitcoin. You should have given your friend an idea about the risks of Bitcoin. Your friend started investing after hearing about the good aspects of Bitcoin from you but when the Bitcoin market falls and when he sees that his money is decreasing, he may panic and sell his holdings. So you should have told your friend about the risks of Bitcoin.

If a person comes to you to get an idea about Bitcoin, then you should tell him about the good aspects of Bitcoin as well as the risks of Bitcoin. If you ever tell him one aspect of Bitcoin, it may never be the right knowledge.

[Cgrexp]

There are many people out there that have enough discretionary income but they don't know the best investments should embark on till one day a friend of mine that is a farmer and i know that he has been gotten profits through his farming work, he came to me and ask me if he should invest in Bitcoin investments how can he gain more profits because he has been reporting his discretionary income to the bank without having a profit instead he do received debit all the time from the bank, then i started explaining how Bitcoin works and how he gets more profits once he starts accumulating his Bitcoin,  i want ahead showing and telling how dollar cost average have make it easier for newbie to buy gradually by gradually when comes to buying of Bitcoin, he agreed with me and he have started investing because he said that he doesn't want bank people should be deducting from his bank account, and even since that friend of mine that is a farmer has been thanking for adding another skill to him joined to his farming work, so i want know if actually i did the right thing by introducing him into Bitcoin investments?

Since your friend was doing agriculture and had a discretionary income and did not know where to invest, in this case you introduced him to Bitcoin and told him how Bitcoin works and the investment method. We know that in the current digital age, investing in Bitcoin requires some technical knowledge, so if your friend can use it properly, it is good. However, I do not see in your comment whether you made your friend aware of the Bitcoin market. Although your friend will invest in the DCA method for the long term. Investing in the DCA method is safe, it is your responsibility to make your friend aware of the volatility of the Bitcoin market. However, if you think that he is capable of investing in Bitcoin regularly, meeting his basic needs, emergency funds and continuing to invest in the long term, then I think that you have done well by introducing him to Bitcoin.  But remember, investing should be your own decision, and when you give someone advice about investing, try to fully present both the positive and negative aspects to them.