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.

[coinrifft]

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.

With that, you should also open their minds not just on the positive benefits of crypto. Because if you are going to look at every social media post of some kind of influencers, they won't mentioned this things to the public.

So it's true, not just the pros, but the cons as well. Because someone might blame you if you teach them crypto but then neglect the negative side of it. And once they experience it and lost their money, for sure they will come back to you.

[Marykeller]

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

I don't think getting the referral bonus from the exchange will be the main reason I will refer someone I know to the crypto space to start investing in Bitcoin or altcoin

I want to refer people who see the need to safeguard their wealth for the future, not for what I will gain if they start trading. I am way bigger than that to only refer people for the bonus I will get, not to be concerned whether they will follow the right step to invest in Bitcoin more than they do with altcoin

[Rockstarguy]

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

Telling people about cryptocurrency can only implicate you if you pass the wrong information or convince someone to invest in cryptocurrency without providing them with knowledge about it.

When you want to introduce Bitcoin to people, you should not only discuss the profitable aspects of it. You also need to inform them that there are many scam tokens in the market, and they need to be mindful of the coins they choose to buy and invest in. Additionally, you should inform them that the market is volatile and unpredictable, and that cryptocurrency or Bitcoin does not guarantee quick wealth. If one must invest in cryptocurrency, it should be a long-term investment. When one understands all this, you won't be held responsible for their losses in cryptocurrency or Bitcoin.

[Israelgogo]

Yes, some replies tags it risky to refers people to btc or crypto, this is careful action though you need to understand the person you're referring and what's the function of this crypto to lives, the risk involved and the need to learn the knowledge. Before talking to someone about your business look at the capacity of this person and how mature this person reasons when it comes to lost and gain if not avoiding introducing it to someone less experience or not willing to lost their hard-earned money. Crypto is for mature mind

[Rikafip]

The "benefit" of referring someone to bitcoin is getting to listen to them bitch, moan and complain how during a bear market about how bitcoin is a scam/ponzi scheme and how they were idiots for listening to you etc.

So no thanks, I am not going to talk anyone into investing. What i will do though is explain pros and cons if someone asks me about buying bitcoin.

[Mhizlove]

Honestly I will say that, sharing knowledge about crypto or Bitcoin is good, but let it not be like we're putting pressure on people to invest.  Is better to make them have an understanding about the risk first and also how things do works before putting their money. At the end, if they later on decide that they want to invest after learning well enough, that will be an informed decision. Also referral bonus is extra benefits , but the main purpose is supposed to help people avoid mistakes and understand bitcoin well

[TokenTikas]

Yes, some replies tags it risky to refers people to btc or crypto, this is careful action though you need to understand the person you're referring and what's the function of this crypto to lives, the risk involved and the need to learn the knowledge. Before talking to someone about your business look at the capacity of this person and how mature this person reasons when it comes to lost and gain if not avoiding introducing it to someone less experience or not willing to lost their hard-earned money. Crypto is for mature mind

Why should we go toward referrals? Can't someone be told about crypto without using referrals? Personally, I never go toward these referral things and why should you go toward these referrals? If it can be explained freely then that's better. Avoid referring someone unnecessarily while telling them about anything, you will stay safe from your side. There is no need for referrals to talk about crypto. Just explain both the good side and the bad side openly and directly. After that, what they will do depends on them. It has to be explained clearly like this.

[Die_empty]

Yes, some replies tags it risky to refers people to btc or crypto, this is careful action though you need to understand the person you're referring and what's the function of this crypto to lives, the risk involved and the need to learn the knowledge. Before talking to someone about your business look at the capacity of this person and how mature this person reasons when it comes to lost and gain if not avoiding introducing it to someone less experience or not willing to lost their hard-earned money. Crypto is for mature mind

You might not know how immature someone is until money becomes involved. They might keep blaming you for the drop in Bitcoin price as if you are the one who controls the market. I have seen a situation where a new investor arrested the person who introduced him to an asset. This is why I only guide people and allow them to make decisions.

The person should know that Bitcoin is not a get-rich-quick scheme. This means they should be willing to hold Bitcoin for a very long time. People lose money in Bitcoin if they are impatient and sell below the cost price. Secondly, they should also be aware of hacks and how they can secure their assets. This might be another way they might lose their asset.

[Rockson1]

You might not know how immature someone is until money becomes involved. They might keep blaming you for the drop in Bitcoin price as if you are the one who controls the market. I have seen a situation where a new investor arrested the person who introduced him to an asset. This is why I only guide people and allow them to make decisions.

The person should know that Bitcoin is not a get-rich-quick scheme. This means they should be willing to hold Bitcoin for a very long time. People lose money in Bitcoin if they are impatient and sell below the cost price. Secondly, they should also be aware of hacks and how they can secure their assets. This might be another way they might lose their asset.

Apart from passing these information that I bolded to them, every other thing they need to know to avoid blaming anyone in the future should be passed to them, athough there are individuals who are good at blaming other people even when they know that you don't have control on what they are blaming you for, they will go ahead to blame you, if we are introducing anyone to bitcon investment, the message should be straight, there should not be any hidden thing, they should be made to know that there is no free money here, if they will be rewarded in the future, that reward will come from there holdings, so they must be very patient enough to hodl for at least 4years and above, they should be told that volatility is the nature of the investment they are interested in and should not be seen as problem rather it should be welcome as a blessing to Bitcoiners and this should be explained in details for such persons to understand.