I gave my friend the right advice about investing in Bitcoin.

[Mpamaegbu]

~~

He will be in good terms with him, if he gives his friend the full advice of how bitcoin works..I found out what causes problems between two friends towards giving a friend advice to invest in bitcoin is that...A friend only preach to a friend the positive and profit side of bitcoin  investment...Without telling the person the positive side of the investment...

You're right on that. I've to admit it. Those who do that may be doing so from the angle that they want to also profit from that friend's investment. It's either they're the one buying and hodling for the friend or they're pushing them to a referral programme where they can benefit from accrued bonuses. Any friend with genuine intention will open up to their friend(s) on how Bitcoin investment truly works and not mask anything.

In 2021, a long time friend called me up one morning to ask if there was anyway people could lose in Bitcoin investment. I told him yes. That won his heart but I didn't know. It was later he told me it was my comment that people could lose that convinced him. He said earlier someone had tried to convince him to invest with him, telling him there was no losses with Bitcoin investment. That it was all profit profit. He said my honestly triggered his desire in it because that's how genuine businesses work.

[KiaKia]

I don't know how it is for everyone else, but I personally really like it when I give advice to someone and they benefit from it.

Since I learned about Bitcoin, my interest in it has increased and I gradually got involved in investing, but I didn't tell anyone about this investment at first. I have a close friend who wanted to know about these things from the beginning. He didn't show any interest at that time, but later he wanted to know more about it from me. Since he is my close friend, I didn't hide anything from him, I shared all my investment matters with him. Since he asked me about this matter a few months after I got involved in investing, after learning about investment, he became more interested in investing and he gradually started learning about many things from me.

Although we studied together, his father's financial condition was good and he used to help his father in his business from then on. 
One day he told me that he would start investing, I first tried to give him a lot of ideas about investing and also told him that investing would never guarantee him profit, but still he agreed to invest. He started investing a few months ago and till now he has been continuing his investment consistently. While chatting with him yesterday, he told me that it was because of the advice I gave him that he was able to get involved in investing and he has been able to continue investing consistently. He is now doing investing with so much fun that now his goal is much bigger and he wants to keep this investment for a long time.

You are not alone on this, I also like when I give someone advice and it helps them, it makes me happy, I've helped few numbers of people by showing they the true colour of Bitcoin and they grabbed it instantly.

They took advantage of the 2020 bear market and it helped alot, even while I can't do much about it they just followed my lead and today I am still benefitting from the favour I did for them.

When I celebrated my birthday months ago they were all present and the gifts are amazing, they are good people and they show that appreciation, where as I had bad experience with some people too, those who can't have enough patience.

[dansus021]

There is no better feeling than seeing a friend succeed because they trusted your process. You did the right thing by being honest about the risks, you know what that too many people only talk about the 'Moons' and never the 'Dips'. If we took a weekly candle and a big picture we find that bitcoin is the way hahaha.

anddd dont forget to taught your friend about hardware wallet because if you a long term hodler and investor this "hardware wallet" is needed for your own security.

[HustleZ]

[…]

You did great and proved yourself as a good first because only a good friend advises a friend to choose a good thing. I can tell he liked the investment because you said he was in a good financial position so that he saw returns and thats why he liked it. Now he only has to be disciplined and have patience and not be affected by the short sentiments of the market and he should look at it from the POV of long term investment and he can reach his goals easily.

[Pandorak]

I have to say, your friend is very lucky to have a friend like you who is willing to sincerely explain how to invest wisely and you even pointed out that investing carries the risk of loss. This is excellent, as it ensures your friend isn’t solely focused on profit but also considers the risk of loss.

Next, perhaps you could explain or maybe you’ve already explained, that when investing in Bitcoin, one must focus on the long term. Also, the funds used should not be money needed for daily living expenses, but rather surplus funds from income that you’re prepared to lose. Since we don’t know what the future holds, it’s wiser to be prudent when using funds for investment.

[Moreno233]

Assuming I was given this type of advise when I started my journey in Bitcoin, I would have been a better investor and holder by now. The best advise a new investor can get is to think long term, it helps him manage his expectations as well as remain calm when the profits does not come so fast. I didn't not get the luxury of learning thi early which is the reason I made some mistakes and lost money when I started. I no know better which is why I'm also doing better than I did when I started.

[Cgrexp]

Assuming I was given this type of advise when I started my journey in Bitcoin, I would have been a better investor and holder by now. The best advise a new investor can get is to think long term, it helps him manage his expectations as well as remain calm when the profits does not come so fast. I didn't not get the luxury of learning thi early which is the reason I made some mistakes and lost money when I started. I no know better which is why I'm also doing better than I did when I started.

You are right because if new investors expect quick profits at the beginning, they will not be able to focus on long-term investments due to which they may change their decisions at the slightest price drop. If an investor has a long-term mindset, he will be patient and he does not have to worry much about the market rising because he will invest in small amounts and market fluctuations do not have much impact on these small amounts. Still, some people cannot accept even a small loss. Therefore, every investor should invest with money that he has the mentality to lose and even if he loses, it will not have a negative impact on his life. Therefore, starting with a small amount, gradually learning and increasing the investment amount with experience, but one should learn from mistakes and make oneself more mature and confident over time.

[bitcoindusts]

Assuming I was given this type of advise when I started my journey in Bitcoin, I would have been a better investor and holder by now.

Are you not a better investor and holder now? After all you have been in the forum for more than 4 years now.  I believe you already grasp the basic and now have an advance understanding about Bitcoin.  You maybe have a better start if you have met a good adviser when you are just starting, IMHO.

The best advise a new investor can get is to think long term, it helps him manage his expectations as well as remain calm when the profits does not come so fast. I didn't not get the luxury of learning thi early which is the reason I made some mistakes and lost money when I started. I no know better which is why I'm also doing better than I did when I started.

Indeed, aside from that long term mindset, it is also best to meet mentor/adviser that will give us good sources of Bitcoin knowledge so that we can also learn something good from our own effort.  Spoon feeding is very convenient but it somehow deprive us to learn skill on our own and develop independent wise decisions about Bitcoin investment.

[Z_MBFM]

Although we studied together, his father's financial condition was good and he used to help his father in his business from then on. 
One day he told me that he would start investing, I first tried to give him a lot of ideas about investing and also told him that investing would never guarantee him profit, but still he agreed to invest. He started investing a few months ago and till now he has been continuing his investment consistently. While chatting with him yesterday, he told me that it was because of the advice I gave him that he was able to get involved in investing and he has been able to continue investing consistently. He is now doing investing with so much fun that now his goal is much bigger and he wants to keep this investment for a long time.

It is certainly good to advise someone to invest in Bitcoin, but whenever you advise someone, you should inform them about the risks of investing in Bitcoin along with the benefits of Bitcoin. I think it is a good time for your friend to invest in Bitcoin, but if you had given this advice last year when the price of Bitcoin was above $100k and now your friend was in a loss, his motivation would have been lost. There is still a possibility of Bitcoin price going down, so I would tell you to tell your friend in detail about the risks of Bitcoin and explain to him very well about the past history that no matter how low the price of Bitcoin goes, it takes a long time to recover and make new records, so if he invests now, he will be able to enjoy a good profit in the next cycle and if he can hold it for 10 years or more, it will bring him a lot of money.

[Floxynice]

Assuming I was given this type of advise when I started my journey in Bitcoin, I would have been a better investor and holder by now. The best advise a new investor can get is to think long term, it helps him manage his expectations as well as remain calm when the profits does not come so fast. I didn't not get the luxury of learning thi early which is the reason I made some mistakes and lost money when I started. I no know better which is why I'm also doing better than I did when I started.

I should count myself very lucky to have been given the right guidance by the right person about Bitcoin and the best way to invest in it. People have shared their experiences about how they made mistakes as beginners and later learned from those mistakes, I've never had such bad experience.

It is good to have a friend like OP, but the bad side to it is that such a friend will only be passing down what he knows and feels about Bitcoin to you. So, if he knows very little about Bitcoin, he may only be telling you the good sides and fail to let you know the challenges you may likely face.

If he is the kind of investor who believes that Bitcoin is a get-rich-quick investment, he will transfer that kind of mindset to you too and that is not a good way to start.

So, while people wish to have others guide them, they should check well to be sure they are getting the right guidance.

[Moreno233]

Assuming I was given this type of advise when I started my journey in Bitcoin, I would have been a better investor and holder by now.

Are you not a better investor and holder now? After all you have been in the forum for more than 4 years now.  I believe you already grasp the basic and now have an advance understanding about Bitcoin.  You maybe have a better start if you have met a good adviser when you are just starting, IMHO.

I'm a better investor now and a better holder than when I started. I did not start well, I lost money to trading and other things that I should have stayed away from if mot that I was ignorant then. If I was properly guided, most of those funds would have been safely invested into Bitcoin and hold till date and I'm sure you know what that would have learnt for me now considering how low Bitcoin was then and how high it has moved now. Nevertheless, I don't have to dwell in regrets since I'm actively using the opportunities I have now to cover some of those lapses.

[fredericktaylor]

Assuming I was given this type of advise when I started my journey in Bitcoin, I would have been a better investor and holder by now. The best advise a new investor can get is to think long term, it helps him manage his expectations as well as remain calm when the profits does not come so fast. I didn't not get the luxury of learning thi early which is the reason I made some mistakes and lost money when I started. I no know better which is why I'm also doing better than I did when I started.

You are right because if new investors expect quick profits at the beginning, they will not be able to focus on long-term investments due to which they may change their decisions at the slightest price drop. If an investor has a long-term mindset, he will be patient and he does not have to worry much about the market rising because he will invest in small amounts and market fluctuations do not have much impact on these small amounts. Still, some people cannot accept even a small loss. Therefore, every investor should invest with money that he has the mentality to lose and even if he loses, it will not have a negative impact on his life. Therefore, starting with a small amount, gradually learning and increasing the investment amount with experience, but one should learn from mistakes and make oneself more mature and confident over time.

Yes, there are many new investors who start investing in Bitcoin without knowing or understanding anything just hoping to make quick money. In reality, investing in Bitcoin does not yield quick profits and when a person invests in Bitcoin with the hope of quick profits he faces financial losses. You should start investing in small amounts consistently with a long-term plan. This will reduce investment risk increase your knowledge about Bitcoin and increase your confidence in Bitcoin. You will not be disappointed quickly during market volatility and you will be able to manage your investment with confidence for the long term.

When an investor consistently buy small amounts of Bitcoin with the right knowledge and holds on to it with confidence during periods of volatility or buy more Bitcoin and waits for the right time the investor can expect to make long-term profits from Bitcoin. An investor's knowledge patience and consistency can lead to gradual success.

[Finestream]

I guess its the same for everyone here, it make us happy seeing our advices turn beneficial and profitable for other people. That means we give them a good and effective advice.

Investing in bitcoin is not that hard but it isn't easy as well. But as long as you know the basics and the value of consistency in investing bitcoin, there is no reason that a bitcoin investor, especially if he is there for a long-term goal.

It only gets wrong and not beneficial for them if they start investing and expect quick profits from bitcoin. That will never happen with bitcoin because bitcoin itself only takes a slight price increase every now and then, and sometimes it even stays in a low price for quite long. If you are not patient, you will never experience how to be real profitable with bitcoin.

[Ultegra134]

Assuming I was given this type of advise when I started my journey in Bitcoin, I would have been a better investor and holder by now. The best advise a new investor can get is to think long term, it helps him manage his expectations as well as remain calm when the profits does not come so fast. I didn't not get the luxury of learning thi early which is the reason I made some mistakes and lost money when I started. I no know better which is why I'm also doing better than I did when I started.

Agreed. I didn't have any advice prior to becoming involved with Bitcoin, I would have avoided so many mistakes that costed me decent amounts of Bitcoin back in the early days. Was too young and dumb which resulted in major losses, but it was a life lesson that led me to this point.

Personally, I was too hesitant to give out advice to any of my friends regarding cryptocurrencies and Bitcoin because I didn't want to be the one to take the blame for their mistakes. I ultimately did provide information, but unfortunately, none of them had any major (or any) success story like the one the OP is describing. Fortunately, one of them is still trying and has been relatively successful investing in BNB and stablecoin staking, which is quite positive.

[jossiel]

But it can be counted with our bare hands on how many of them are serious at first and very few continued to invest and applied what they have heard from us.

Human nature is inherently fearful and suspicious, and people will not easily believe anything unless they have clear evidence or have witnessed it firsthand. Therefore, it is not surprising that most people ignore and show no interest in what we share with them about bitcoin.

They have seen the impact of it already but that made most of us got tired in explaining all of the details they want to us when you can clearly see on them that they only ask questions, and not interested.

But believe me, if you can become rich and change your life by investing in bitcoin. Then, they will start listening to and trusting what you say. There is no more practical and convincing advice than the result we ourselves achieve.

I agree.

But when you tell them how risky it is, how patient you are. I guess that's also the factor that they will realize that it can't be done easily.

Because most of them would think how easy it is to invest but it's hard to hold on for a longer period of time.

[Hamza2424]

Although we studied together, his father's financial condition was good and he used to help his father in his business from then on. 
One day he told me that he would start investing, I first tried to give him a lot of ideas about investing and also told him that investing would never guarantee him profit, but still he agreed to invest. He started investing a few months ago and till now he has been continuing his investment consistently. While chatting with him yesterday, he told me that it was because of the advice I gave him that he was able to get involved in investing and he has been able to continue investing consistently. He is now doing investing with so much fun that now his goal is much bigger and he wants to keep this investment for a long time.

Sharing is caring, but don't share too much unknowingly or your friend could turn into a foe. I know it might sound harsh to you, like some saint committing a sin, but this is the reality. I have seen so many real life incidents, and some of them were very close to me, like in my area and country, that after hearing them I think having one loyal friend is a blessing because bro, one real friend is far better than having many fake ones. They would never stand beside you or help you in your low moments, but they will come to enjoy your success. They don't deserve to be there when they were not with you at your lowest.

Besides this, some friends just can't accept your growth. They might criticize you in the beginning, and with time your success could wear down your friend's patience until he makes a bad move. But bro, I am not trying to fill your mind with negative ideas here, I am just telling you about the harshness of the world, so be careful and only share what you truly need to share. Even with friends, we don't have to tell them everything. I mean, friends who are there for us in our lowest moments deserve respect, but not necessarily access to all our personal matters. I am saying this because I believe telling someone about your invested amount is personal, and when you don't tell them about your next investment, they may start judging you.

[passwordnow]

He is now doing investing with so much fun that now his goal is much bigger and he wants to keep this investment for a long time.

That's a goal for you and him. Well done to both of you. I rarely see stories like this because most of the time, they all end up blaming the person who introduced them to bitcoin. Because what they only see is a drop on their portfolio and that doesn't make sense anymore for them to continue. But with this story of yours, this gives the hope for those who's got friends who like to get into bitcoin. While the road isn't easy for all of us, those who stays in the long run are the ones will tell colorful and beautiful success stories of their investing journeys.

[X-ray]

You're lucky to have friends like that, not that much people share their success stories after getting advised into investing and would instead prefer to sue you if their investing failed.

In this moment of time I would never give advice about investing to people because there is too much downside  because you know people are so paranoid and suspicious because economy are getting bad, any investment advice would be looked down upon.

But your case is a rare case where it become totally worth it to advice people to save their money into deflationary asset.

[SatoPrincess]

OP, What you did by advising your friend on how to invest on bitcoin is a good one, but what you did that is not satisfied by me is the fact that you told him that "investing would never guarantee him profit", you use the word NEVER, for me that is a false and a fallacious statement you would want to give anyone as a form of advice, because how will you tell somebody that this thing will never give you profit but yet the person finds it interesting to still invest in what will never give him profit.

OP is right. When he meant was bitcoin is not a get-rich-quick scheme. Investing in bitcoin is not a guarantee that you will be in profit, the market is volatile and if you lack the discipline to hodl, you might end up selling at a loss. I have seen people do this because they were given the impression that bitcoin was going to make them rich.

[SeriouslyGiveaway]

You're lucky to have friends like that, not that much people share their success stories after getting advised into investing and would instead prefer to sue you if their investing failed.

They can give you thank you if your advice helps them getting profit but some people even don't say any thanks but the bad things is if they got loss, you will be very likely first person to be called and criticized. When you help someone, you do it for good but if they criticize you seriously, it can affect your psychology and life quality so with me, I don't give any Bitcoin investment advice to any people I know.

In this moment of time I would never give advice about investing to people because there is too much downside  because you know people are so paranoid and suspicious because economy are getting bad, any investment advice would be looked down upon.

It's more risky for newbies in bear market so giving investment advice in a bear market to newbies is dangerous and should be avoided. While with experienced people, bear market gives better opportunities for accumulation of more bitcoins with same budget compares to bull market.

It's simply like in a same market, risk for you is opportunity for the others.