Benefits of referring people to crypto.

[BlackBoss_]

I talk to a friend of mine who has money to invest in btc and he ignored me for a while and after three months later he came back and said I want start that stuff, so I gladly assist him to get a wallet and he started up and today is investing so much in crypto because he went further to learn trading and he doing well.

The market is hard and harder for newbies, new participants especially newbies who want to trade in this market. It's hard to believe that newbies can get profit by trading in Bitcoin market with time like months. Especially recent months when the market has been no longer bullish but very bearish that is not good condition for newbies.

Now on my own end this local exchange app gives referrals bonus every transaction the person under performs

It's money you got by referral program from an exchange, and from your friend trading volume, if I understand your post correctly.

unexpectedly some days I just check my wallet and see cash

Why cash?

[Razmirraz]

What you are doing is a real example of various knowledge being an investment whose interest is not only for yourself, but the benefits can also be felt by others. You did the right thing by not forcing him to recommend crypto, and he came back to you even though he initially rejected you. This is the right way to recommend crypto to others because if you forcefully educate others, they will reject it, but when you educate them patiently, they will seek you out. I know, your goal is not to make him Fomo but to make him fully understand about the risks, DCA and keeping assets in his own wallet.

[Daniel91]

I agree, there are benefits to introducing our friends to bitcoin, but there are also potential problems.
Over the years, I have come to realize that bitcoin and crypto are not for everyone.
If someone does not understand how things work in crypto and that there are periods of growth and decline in the value of the crypto market, and does not learn how to analyze the market and make sound investment decisions, based on thought and not emotions and panic, then investing in bitcoin is not a good idea for such a person.
It can even be a recipe for disaster and the end of a friendship.
In my opinion, based on many years of experience, it is better not to talk too much about bitcoin and crypto with friends because many are not ready or mature enough to make the best investment decisions.
If someone shows interest, the most important thing is to explain to them all the risks of investing right from the start and teach them to do fundamental market analysis.
That is my experience.

[Outhue]

We still have a lot ignorance people in the street but I know telling people about what you know implicates you either negatively or positively but still is good to refer people about crypto market, I talk to a friend of mine who has money to invest in btc and he ignored me for a while and after three months later he came back and said I want start that stuff, so I gladly assist him to get a wallet and he started up and today is investing so much in crypto because he went further to learn trading and he doing well. Now on my own end this local exchange app gives referrals bonus every transaction the person under performs, unexpectedly some days I just check my wallet and see cash, and I still enjoy him for helping him.

So take the challenge and introduce your knowledge to people, it pays

There are two types of people you will end up seeing on the journey of yours, trust me I've been there, introduced more than 20 people to crypto between 2016 and 2023, something made me stopped doing this, something I am going to reveal right now.

Some people want to know how much they can make from bitcoin and crypto investment, it's the reason they will contact you , most of these people want the money but they aren't ready to lose their money, the risk of losing money is always on the table, right? It's a no to many, yet the will pretend as if they've got it.

There are some who will appreciate all your efforts on them but let them do something stupid, the mistake they made that cost them their balance will be pinned on you, saying it's your fault that they lost their Bitcoin, and from that day on there is nothing you can say that will make them look at you like someone who did them favour.

I have crossed path with such people and only very few are actually good beings who understood what's likely going to happen to them, now I will rather try scaring you off if you come to my face for crypto investment advises because this will reveal if you are truly ready or you are just look for someone to take full responsibility for you.

[Hewlet]

We still have a lot ignorance people in the street but I know telling people about what you know implicates you either negatively or positively but still is good to refer people about crypto market.

You have to know the kind of people you're refering to getting invested in crypto or else, it's going to be a lot of load on your part in trying to convince them to be patience when things fails to go in the way they thought it would.

If you're close to someone that has the resource and that's looking for an investment option to get into, it's okay to let the person know about bitcoin but never sugar coat things. Keep things as plain as it actually is and let them decide on Thier own wether or not investing in bitcoin is what they are comfortable with. What you stand to gain might not be the small referral bonuses which to me is nothing serious. If they learn and earn through it, they will always remember that you bright them into the ecosystem.

[Oshio-man]

There are lot of benefits when the person you introduce to crypto is making it correctly because he will never forget your impact to have the knowledge of crypto, especially the person is living in a country when crypto is fully legalized because it will give crypto users peace of mind in that particular country, there will not be police or scammers harassment like the way police and other government officers are disturbing crypto users because they know is not legal in the country.

[rat03gopoh]

Now on my own end this local exchange app gives referrals bonus every transaction the person under performs, unexpectedly some days I just check my wallet and see cash, and I still enjoy him for helping him.

Referral income has a limit. I don't know how much you'll earn, but I hope it's commensurate with the time you spend mentoring them, especially if they're unable to develop themselves, as you'll be their personal mentor until they give up on their losses.

One thing that works for me: don't give them your personal contact information.

[Karl_3000]

One thing that works for me: don't give them your personal contact information.

What if the people are from his street or friends or people that he know? But your advise is very good, it is good to have privacy with what has to do with cryptocurrencies because people are wicked. You may think you are helping the people but they may have something different in their mind which can harm the helper. But I do not think he is helping them without them helping him also, what he care for is the referral earning.

[katanic97]

Because I don't want to make them feel like I'm introducing them a ponzi scheme. That's why usual action I do is to let those people around me discover it and if they approach me then talk about those matters then will provably discuss. Not all people will easily understand it that's why I prefer to open up a discussion about this matter with fellow people understand or at least have less knowledge about crypto.

You do not have to tell them only the good-to-hear part of bitcoin, you will also need to explain how it is volatile and when not to invest like after a massive bull market. You can even use calculations in relation to bitcoin price history to explain to them so that they can understand better. If you told them the down sides too, they will not blame you if they are having unrealized loss, but at last, they will be happy if they do not sell.

Many people, when they hear about the positive side of Bitcoin, tend to ignore its downsides and don't think about the potential consequences. So, no matter how you look at it, you'll end up being blamed. When the price is going up, you're the good guy, but as soon as it starts falling, you're suddenly the bad guy. I've given up on trying to explain it to people. If someone is genuinely interested, they can always do their own research online or simply create an account on this forum, where they can find answers to virtually any question

[Die_empty]

I agree, there are benefits to introducing our friends to bitcoin, but there are also potential problems.
Over the years, I have come to realize that bitcoin and crypto are not for everyone.
If someone does not understand how things work in crypto and that there are periods of growth and decline in the value of the crypto market, and does not learn how to analyze the market and make sound investment decisions, based on thought and not emotions and panic, then investing in bitcoin is not a good idea for such a person.
It can even be a recipe for disaster and the end of a friendship.
In my opinion, based on many years of experience, it is better not to talk too much about bitcoin and crypto with friends because many are not ready or mature enough to make the best investment decisions.
If someone shows interest, the most important thing is to explain to them all the risks of investing right from the start and teach them to do fundamental market analysis.
That is my experience.

Bitcoin awareness leads to adoption; hence, it is our responsibility to educate people about it. I ensure that anyone who shows interest in learning about Bitcoin gets all the support they need. I also refer them to materials and platforms where they can get the necessary information that will help them become more knowledgeable.

It is not wrong to introduce people to the industry because you want to gain extra money from referral benefits. But focusing on that referral bonus could make you begin to persuade or force someone to invest. We are meant to support and guide people to embrace Bitcoin. The decision to invest should be left for the person to make. This is important to avoid blame if things don't turn out as predicted.

[moneystery]

When referring someone to crypto, you need to ensure they understand the risks involved, as not everyone understands this and only understands that when they invest their money, they can expect high returns.
Instead, make sure they understand that crypto, especially altcoins, is volatile, and prices can rise or fall in a short period. Therefore, you need to encourage them to do their own research and invest only what they can afford. Even better, direct them to Bitcoin as their only investment, as it has proven to be more resilient than most altcoins on the market.