What should you know before recommending Bitcoin to a friend?

[Chibit01]

If your friend makes a profit by investing in your words he will be happy. But if there is a big loss, it can have a negative impact on your friendship. So always clearly remind him of the financial risks when giving advice. Apart from these encourage him to study what bitcoin is how it works and what its future holds. Let him know that you are not an expert and your advice is only based on personal experience.

How about also making sure or trying to also learn about your friends and how they react to things, not just about your telling them the basic risk and the warning associated are they the type who truly listen and learn, or they are the type that just pick what suits them and leaves everything for you.

We have some types of people who, no matter how you try to warn them about something, as long as there is something beneficial that could come from it, and it's from someone they know they don't care about the risk they want to jump into investing once you mention it. And even after warning them clearly, they are still the type who is not bold enough to take responsibility for their own action and always want to shift blame, such type of person is not who one should recommend any form of investment for.

[GazetaBitcoin]

Hey d5000!

I am happy to announce you that AOBT chose this topic of yours to be translated in at least 10 languages. I hope this is good news.

And we have a first translation, made by Peanutswar in Filipino language.
And, also, a second translation, made by zasad@ in Russian language

[TokenTikas]

Most of the times your friends won't tell you that they want to make money faster, they will come up to you for help as if they can endure, it's best to tell them the bad and struggling side of crypto investment.

Everyone has the desire to make money and that is quite normal, but the urge to make money very fast is not always normal. Even though both the good and bad sides can be shared, it is not right to discourage someone at the beginning. The person should be given both negative and positive advice, and later it should be left for them to decide what to accept, because that choice is purely personal.

Advice should be given in such a balanced way that later on, there will be nothing left for anyone to complain about.

[Baki202]

Everyone has the desire to make money and that is quite normal, but the urge to make money very fast is not always normal. Even though both the good and bad sides can be shared, it is not right to discourage someone at the beginning. The person should be given both negative and positive advice, and later it should be left for them to decide what to accept, because that choice is purely personal.

Advice should be given in such a balanced way that later on, there will be nothing left for anyone to complain about.

The desire to make money is there but the problem now is that making money is a different dimensional thing that people might be interested but the problem now is that how do you manage people that are introduced when things are not going well because they need to know that, because some people might blame you for what you know nothing about sonwe need to be more careful when doing introduction, you make it clear the risk behind it could be made clear for people, so that if anything should happen you will know it has been cleared even before they start.

Transparency is exactly what will free you because how do you explain when there is no transparency from the beginning in situations of all kind it is better they know. And if it is holding there is less concern because the market will definitely appreciate when the market is down compare to trading that when you money is gone there is nothing you can do about it than to trade again so explaining trading is even much more harder.

[TokenTikas]

The desire to make money is there but the problem now is that making money is a different dimensional thing that people might be interested but the problem now is that how do you manage people that are introduced when things are not going well because they need to know that, because some people might blame you for what you know nothing about sonwe need to be more careful when doing introduction, you make it clear the risk behind it could be made clear for people, so that if anything should happen you will know it has been cleared even before they start.

Yes, that is why I said I will explain both the positive and negative sides clearly and in a balanced way and I say very clearly that there is no trust in the crypto world, it is necessary to take steps from your own personal analysis. I don't know anything about this world that well, but as far as I know, I have shared both sides and the next steps are for you to decide in your own way. This is just to make things clear so that if any problem or loss happens later, I should not be held responsible for it.

[Sonia_123]

In Bitcoin investment, it is important to know that you must educate yourself properly in other to avoid risk since bitcoin is very volatile, one needs to know the fundamentals involved in bitcoin, how profitable but not a get rich quick but gradually accumulating your coins for future purpose, trustworthy and secured  if invested in it.

Bitcoin investment remains the only true investment that gives you huge returns when you reach your over accumulation stage .

[Jubilee58]

Bitcoin is not a get rich scheme like ponzi scheme, therefore you should know the goal of the person you want to recommend bitcoin to, because any Bitcoin investor who cannot persevere long term investment, cannot make good profit in bitcoin investing.
Do not store your bitcoin in an unknown wallet, don't subscribe to people who will recommend a particular wallet for you online, their are several platform which are fake , and once you keep your Bitcoin in such place, you stand the risk of loosing your asset. There are genue wallet, and if you don't know ask questions here, and you will be recommended to one.

Bitcoin is a volatile asset, some persons may feel once you invest in bitcoin, the market will remain positive everytime. But bitcoin fluctuate in price sometimes it goes up, and sometimes it goes down too, but long term holding is what makes the difference, and gives you good profit.

[Crytohillss]

If your friend makes a profit by investing in your words he will be happy. But if there is a big loss, it can have a negative impact on your friendship. So always clearly remind him of the financial risks when giving advice. Apart from these encourage him to study what bitcoin is how it works and what its future holds. Let him know that you are not an expert and your advice is only based on personal experience.

Money can easily complicates relationship if people are not clear about the risk from the beginning it can Comes back to affect the relationship. When it is right you are a good person but when it drop you are the villian is  always good to remind them it's their decision at the end of the whole day, transparency matters a lot. it is better to share your experiences before they start to embark on the Business or investment.

[GazetaBitcoin]

Hey d5000, please be aware that AOBT just made one more translation for your thread:

- Pidgin translation, made by Hatchy.

Cheers!

[Achalugo BTC]

In Bitcoin investment, it is important to know that you must educate yourself properly in other to avoid risk since bitcoin is very volatile, one needs to know the fundamentals involved in bitcoin, how profitable but not a get rich quick but gradually accumulating your coins for future purpose, trustworthy and secured  if invested in it.

Bitcoin investment remains the only true investment that gives you huge returns when you reach your over accumulation stage .

That's right, the reason why many investor fail in Bitcoin is because they do not really have the right education. Although most of these education may not really be that necessary during the early stages of the investment, but as they continue to accumulate and build their portfolio, it's crucial to get the necesary education, this is because, getting started isn't the only thing there is in an investment, but staying and doing the right thing is, and this is why folks needs the right knowledge.