What are things to consider before someone go into investment?

[DPHOR]

Had some discussion with a friend of mine who happened to be an old time friend during our school days back then, I mean during our secondary school and he asked what business I'm into currently and I told him I do some scalping and also, buying of cryptocurrencies and he said he would want to join to me. That is not even the case but he kept asking what amount of money he should be gaining in a specific time interval. I told him in bitcoin investment you must exercised patient before you could at least see something from your investment and even as that, you would be holding for at least 2-4 years time before you could see profits from your investment.

Then question he asked that how is he gonna sustain till then? I said to him, look bro if you must ever go into bitcoin investment you wouldn't use your last money to invest with the mindset that you gonna make it within 24hrs that this is not a Ponzi scheme. I have tried to explained to him about the whole thing but he kept insisting that he would put his money into bitcoin just to at least to have some dividend when time comes.

Lastly, I told him before you must join anything investment you must have work at your hand to do before joining bitcoin investment because through your work and salaries you would be able to sustain yourself without having to temper with your investment, and he said is that so serious? and I said yes. On his own he started seeing me as someone who doesn't want him to start his investment, however I decided to bring up this discussion over here since he has been seeing me as someone who doesn't want him to start up the investment.

If it was you what would you do at this point, allow him to invest or what?
Your input are needed, maybe who knows I could share some post here with him to know that I was doing him right thing.

[Agathamay]

It is better he sees you as someone who doesn't want him start than later going behind you to accuse you of falsely of taking money from him because from your story, it seems your friend is interested in just dumping his money somewhere and just expect returns from it without him doing any work aside just investing in the coin.
Bitcoin is not a ponzi scheme and the moment people start asking you of a certain period to expect a return, the you should never fall for the trap of acting like anyone can decide the market but rather you should make them
Do more research by themselves as it will save you from a lot of stress and blames.

[knowngunman]

Every sensible person would do the same thing as you did. Your friend no go understand now but if he eventually ventures into bitcoin later he will reflect back on this and then thank you for not deceiving him.

Although I will handle the situation a bit different because I won't give him the forum to start seeing me as bad friend or as if I don't want him to invest. I will convince him to start learning about bitcoin himself first instead of talking about investing. Ask to follow up with Bitcoin price for at least a month and then give you feedback on what he observed. If he's keen to learn and really want to invest, he will give you feedback and you can recommend more helpful materials for him to read. If he fails to give you feedback at the end of the month, then you let it go too because he is not ready for the journey. Learning should always come first before any other thing. If they learn it rightly, they'll figure out what and how to invest themselves.

On a side note, please try to make use of proper punctuation and correct spelling. I get the message you're trying to pass but I struggle to understand at first due to poor grammar.

[Pikiboy]

Why did you reveal what you does to your friend?
Most time I don't like entertaining questions from people whom I know that they can't even spare their time to read and study what I am doing. We know that whatever that concerns bitcoin is always a matter of time and exercising patient regarding every investment and when involving yourself with anyone out there you should be able to know the type of person you are sharing what you and things you do online as  not all would be able to do that. One thing I easily noticed from our people is that they don't have patient over things and they always want things to change immediately they get themselves involved in that particular business or investment.

[CryptoHeadlineNews]

Had some discussion with a friend of mine who happened to an old time friend during our school days back then, I mean during secondary and he asked what I am into currently and I hold him I do some scalping and also buying cryptocurrencies and he said he would want to join to me. That is not even the case but he kept asking what amount of money he would be gaining in specific time interval and I told him in bitcoin investment you must exercised patient before you could at least see something from your investment and even as that, you would be holding for at least 2-4 years time before you could see profits from your investment.

I think the mistake most of us make is calling Bitcoin investment a job, because Bitcoin investing is not and has never been a job since day one. But what Bitcoin is or Bitcoin investment is an avenue where we can keep our money after getting paid for a service render or after completing a job. So it literary doesn't make sense to see a jobless person who has no means of income to just jump into investing in Bitcoin. That's a very wrong misconception, and we need to change about it.

I have tried to explained to him about the whole but he kept insisting that he would put his money into bitcoin just to at least to have some dividend when time comes.

Bitcoin is what you go into with what you can afford to lose, so if you had told him that Bitcoin is not a get rich quick scheme, and its not something you can invest your capital today and keep getting dividends weekly or monthly for a specific number of time while your capital remains intact. So if you had told him everything and yet he still picks interest, then don't deny him his chance of been a bitcoin investor, because even if its the N10k to N50k that he is able to invest and leave it for long, its still far better than leaving same amount in your bank account.

[DPHOR]

It is better he sees you as someone who doesn't want him start than later going behind you to accuse you of falsely of taking money from him because from your story, it seems your friend is interested in just dumping his money somewhere and just expect returns from it without him doing any work aside just investing in the coin.
Bitcoin is not a ponzi scheme and the moment people start asking you of a certain period to expect a return, the you should never fall for the trap of acting like anyone can decide the market but rather you should make them
Do more research by themselves as it will save you from a lot of stress and blames.

Honestly I do not know how to handle this from my end because he has been on my neck insisting that I should show him how he would start. The work I asked him to look for is another thing that I want to make him lose interest to bitcoin investment because I know that he wouldn't accept to work under someone. The fact is, they don't want to understand how the system work but are solely wanting to be siting at a particular place and want profits from their investment. Like having this mindset that bitcoin investment is like a Ponzi Scheme which I have explained to him time without records that this investment of a thing doesn't really work the way he may be thinking of.

@knowngunman I have made some adjustment I believe is from my end while using my keys, most time your brain could be follow while your keys gives you something else based on Autocorrect words.

[Ummeettaa]

Had some discussion with a friend of mine who happened to an old time friend during our school days back then, I mean during secondary and he asked what I am into currently and I hold him I do some scalping and also buying cryptocurrencies and he said he would want to join to me. That is not even the case but he kept asking what amount of money he would be gaining in specific time interval and I told him in bitcoin investment you must exercised patient before you could at least see something from your investment and even as that, you would be holding for at least 2-4 years time before you could see profits from your investment.

Then question he asked that how is he gonna sustain till then? I said to him, look bro if you must ever go into bitcoin investment you wouldn't use your last money to invest with the mindset that you gonna make it with 24hrs that this is not a Ponzi scheme. I have tried to explained to him about the whole but he kept insisting that he would put his money into bitcoin just to at least to have some dividend when time comes.

Lastly, I told him before you must join anything investment you must have work at your hand to do before joining bitcoin this game because though your work and salaries you would be able to sustain yourself without having to temper with your investment, and he said is that so serious? and I said yes. On his own he started seeing as someone who doesn't want to make him start his investment, however I decided to bring up this discussion over here since he has been seeing as someone who doesn't want him to start up the investment.
If it was you what would you do at this point, allow him to invest or what?

Your input are needed, maybe who knows I could share some post here with him to know that I was doing him right thing.

You've done well with the response and advice you gave him but that is how many will think, i will also think of you not interested in putting me through if am the one.

I think you forgot one of the most important part you should have told him first, which is the fact that he can only invest in Bitcoin with his discretionary income after setting aside other expenses if he wants to succeed, and the fact that success if also not guaranteed.

What I think is that, those kind of people cannot afford to invest in Bitcoin because with what I understand from what you said about him, he is not financially buoyant enough to have a discretionary income that is supposed to be used in investing.

It's better he finds something else like buying and selling of life stock to invest in, because that is the kind of investment that will Warrant fast money for him.

I also think that if such person invest in Bitcoin, financial pressure will eventually make him to withdraw from the investment someday even if the value of what he invested has fallen.

Also for someone to likely be successful in Bitcoin investment, that person must have the mindset, put it at the back of his mind and expect anything to happen because investment success is not always guaranteed. And with what I understand about that your friend, I doubt for him to have such mindset or if he can handle loss well.

I think the best thing to do is to tell him all the factors and facts surrounding Bitcoin investment, and most importantly the fact that success is not 100% guaranteed, and even if he is ok with it, you should recommend and share some key information about Bitcoin to investment for him to study and have idea on what and how Bitcoin work/is.

You can also find someone or evidence to back you up if in the future something comes up, and he wants to accuse or put the blame on you for misleading him.

[Bit-Mj1014]

Your friend is an adult, he is capable of taking responsibility for his own actions, my advice to you is.
Send him links that concerns how Bitcoin works, try to impact some knowledge about Bitcoin to him, explain how the market works. Try and explain the different strategies to him, if you've done that already you can let him invest, if he those not learn the easy way, that's from you, he'll learn the had way, either ways he learns.

All I'm trying to say is let him invest

[I_Anime]

First investing should be base on one choice . No should be forced to invest , just play your role by telling he or she how the investment works you don’t have to do more than that . Firstly don’t approach him like some kind of financial advisor or something. Instead approach him as your friend,  investing is not a rich quick Scheme is more of a something that need professional handling.  By knowing how to allocate your earning , which percentage is best for buying and which is best for savings and emergency. There are other means he could earn from the crypto space so he can focus on that also too .

[Alvin_talk]

I told him I do some scalping and also, buying of cryptocurrencies

It is a mistake in the first place to let your friend or pals  know you are into crypto. If you really thought and cared about your security, then you shouldn't have done that. An average man sees those in possession of crypto as wealthy individuals and this misconceptions often endangers the life of the holder. Imagine if that your friend used that information against you, it could possibly lead to kidnapping. I'll advise you don't do that next time.

He kept asking what amount of money he should be gaining in a specific time interval. I told him in bitcoin investment you must exercised patient before you could at least see something from your investment and even as that, you would be holding for at least 2-4 years time before you could see profits from your investment.

Then question he asked that how is he gonna sustain till then?

I feel the reason for that question was because he did not understand the difference between trading and investment. He was thinking in short-term while you were thinking of long-term, and I think it's still possible to make gains through bitcoin trading. Maybe if you had educated him about these things, the question wouldn't have been the same. I have seen those who take bitcoin trading as part time job but not bitcoin investment. So in a sense his question is valid if he was talking about trading. Although in any business you want to venture into, you should not use all your income for it, that's the part he got wrong in my opinion.

[GIF-JOBS]

Basically, in this type of case, I usually don't let him understand anything like that, but I put him in a middle ground.
I don't care whether he invests or not, the decision is entirely his. I'm not interested in getting him to start investing here. I'll just present everything to him. I'll present everything about the risks of Bitcoin, its potential, how it's managed, and then the decision to invest is entirely his, so that he can never blame me for any loss.
Actually, I always like to be very careful in this kind of financial matter, I don't want anyone to blame me for their loss. I presented the risk to him, and he made the investment only after seeing the risk, and so I can't have any dealings with him here.

No matter how feasible an investment is, there are risks, and so I never force anyone to invest anywhere. And if I ever go to advise someone on Bitcoin investment, I usually prefer to advise them for at least 6 to 8 years.

You have told him to hold for at least 2-4 years, if he invests from here expecting to be profitable in 2 years, but if he does not make a profit after 2 years, he will blame you, so in terms of holding period I think it is better to say the time is longer, because this is the one with less risk.

But in the end, you do not help him in making any decision, let him make the decision completely independently. You cannot decide for him, just clearly show the risks. If he still wants to invest after understanding everything, then give him the advice to start with a small amount and use money that even if he loses it, his lifestyle will not be affected, that is your responsibility.

[Su-asa]

Had some discussion with a friend of mine who happened to be an old time friend during our school days back then, I mean during our secondary school and he asked what business I'm into currently and I told him I do some scalping and also, buying of cryptocurrencies and he said he would want to join to me. That is not even the case but he kept asking what amount of money he should be gaining in a specific time interval. I told him in bitcoin investment you must exercised patient before you could at least see something from your investment and even as that, you would be holding for at least 2-4 years time before you could see profits from your investment.

Truth be told, there's no guarantee of making profit from Bitcoin investment, so no matter how long you have accumulate and hold Bitcoin, you might still not get the chance to make profit, as the price always goes up and down as each second counts. What I'm trying to say here is: what if, in the future, you decided to sell and the price was down or up?

As for your friend, you should just tell him that Bitcoin is not a get rich quick scheme, so if he's expecting to make quick profits from Bitcoin, he shouldn't panic when he sees his Bitcoin portfolio drop from what he expects. A lot of beginners have this same mindset, but most of them were smart enough to understand how the market works, which is why they no longer have high expectations from Bitcoin investment. However, there are also a lot of possibilities that an investor will likely get profits when he holds Bitcoin for a very long period of time.

[CryptopreneurBrainboss]

HadIf it was you what would you do at this point, allow him to invest or what?
Your input are needed, maybe who knows I could share some post here with him to know that I was doing him right thing.

With that mentality, I don't think he's ready to invest into Bitcoin or any type of investments because he isn't thinking like an Investor but a scammer that he might end up being the one to get scammed because of greed. There's no investment that makes you your money back in 24hrs as investments needs time to yield profits and Bitcoin is one of those investments that you really need to give it your patience.

This is because of how fluctuating true market can be because of investors/traders like your guy that wants to invest and cash out in matter of hours or days in addition to the nature of the market (crypto market). You need lots of things in place to be ready to invest, things like good source of income (multiple if possible), emergency funds and then capital to invest.

If you don't have any of this things then investing isn't for you yet, what you need to do is to hustle to uplift yourself to a position in which  you have all this things to invest comfortably.

[Miles2006]

You’re right, I don’t mind telling the truth about bitcoin investment not minding what my friend thinks because definitely he will want to thank me after I saved him from loss. It’s not like bitcoin investment is all about loss but, the risky part is not understanding the investment and making a decision to investment will result to loss so in order to avoid loss one must understand bitcoin investment first.
Investment plans built on short term profit and lies never end well, there’s nothing much to say because it’s always advisable to educate people about bitcoin including the advantage and disadvantage. If the friend is interested after knowing bitcoin is not a short term investment then you might want to consider teaching him more, my opinion though.

[Homemade-IQ]

If it was you what would you do at this point, allow him to invest or what?
Your input are needed, maybe who knows I could share some post here with him to know that I was doing him right thing.

Don't try to lose sleep over someone's stupidity, because at the end of the day, he will still be the one to face the full consequences of his decisions. The best thing to do is what you have already done, which is guiding him and showing him the right path to follow, but since he decides to act like a child or a stubborn fly that follows the corps to the grave, let him be, because in due time, he will learn the hard way.

The problem with most of us is that we are over playing our role when trying to advice newbies on how to invest in bitcoin, and that is why he is now seeing you as a bad person because you wanted to babysit a grown adult that refuses to take advice, so do well to let him be, because he will figure things out the hard way.

[Churchillvv]

Investments are in my own terms retirement plans or fortunes plans, if I have to put anyone anywhere it has to be a long term plan and however most of the times people do not consider longevity in investments so they want o get profit or see results are the very beginning but true investor knows that years have to pass by and before they can see profit so if anyone want to invest they have to find something doing first to feed and fend for whatever they need then put some money into the investments that they can either get in like 10 years or more that’s what real investment looks like.

[Doan9269]

I would first advise the potential investor to understand what they are investing in and whether they can afford the risk. Lastly, being knowledgeable enough to understand more about their investment and its advantages and disadvantages,  we should not also encourage learning to invest when we don't have our own capital to do so, identify a suitable strategy, and also be able to adapt to the process of how long the investment will last.

[Hypnotizer]

Lastly, I told him before you must join anything investment you must have work at your hand to do before joining bitcoin investment because through your work and salaries you would be able to sustain yourself without having to temper with your investment, and he said is that so serious? and I said yes. On his own he started seeing me as someone who doesn't want him to start his investment, however I decided to bring up this discussion over here since he has been seeing me as someone who doesn't want him to start up the investment.

That’s just what’s going to happen, he’d be thinking you don’t want to put him on because of this bare truth you’re telling him because of his ignorance about the scape of investments. These are the kind of people that will blame you if something went wrong with the investment and with a volatile asset like bitcoin, it’s actually better to tell him the truth.

If he doesn’t have a stable income at this point, then it’s better if he doesn’t even starts the investment whatsoever because he’s looking for a source of income not an investment opportunity. He was asking earlier to know if you have some sort of income opportunity that he can capitalize on, you mentioning bitcoin investment isn’t the right thing in that case.

If it was you what would you do at this point, allow him to invest or what?
Your input are needed, maybe who knows I could share some post here with him to know that I was doing him right thing.

Try explaining to him that bitcoin investment isn't a way to generate income rather it is just like every other investment, and he should find a stable source of income first before he starts because he needs to have things like an emergency fund to succeed in his investment on the long run.

[Sonia_123]

E good as you tell am the truth so that him nor go dey disturb you wether the investment never mature, if him see you easy you nor want am to invest because you give am good advice make e dey like that since him nor want understand he want sharp sharp money without stress.

You for tell am sey to dey receive bitcoin dividend na from 4-10 years nor be from 2-4 years maybe that one for make am run far because e show sey him want quick quick money .

When you wan invest inside bitcoin you must know sey e go take long time before you go begin get your profit and na money wey you know sey you nor go need anytime like the money wey you wan take go flex, just convert am to put inside bitcoin investment so that you nor go even reason am, na so you go dey put those kind of money dem and the last one na to protect your money from theft, so that you nor go labour in vain for other people to chop.

Secure your money by using wallet wey be sey nobody go fit access but only you wey be Electrum wallet and them group or be for exchange because nor be only you go fit access am .

[DPHOR]

HadIf it was you what would you do at this point, allow him to invest or what?
Your input are needed, maybe who knows I could share some post here with him to know that I was doing him right thing.

With that mentality, I don't think he's ready to invest into Bitcoin or any type of investments because he isn't thinking like an Investor but a scammer that he might end up being the one to get scammed because of greed. There's no investment that makes you your money back in 24hrs as investments needs time to yield profits and Bitcoin is one of those investments that you really need to give it your patience.

This is because of how fluctuating true market can be because of investors/traders like your guy that wants to invest and cash out in matter of hours or days in addition to the nature of the market (crypto market). You need lots of things in place to be ready to invest, things like good source of income (multiple if possible), emergency funds and then capital to invest.

If you don't have any of this things then investing isn't for you yet, what you need to do is to hustle to uplift yourself to a position in which  you have all this things to invest comfortably.

To be honest some people are naturally like this because they don't really understand how the market works therefore they think coming to make investment and expecting their profits to be generated within just few 24hrs are they people who are really tarnishing the image of bitcoin because when it doesn't work as they think, you would see them giving bitcoin bad names that is fake without them knowing they are the one who is not even understanding how bitcoin works.
To be frank I felt so disappointed at him because even when I asked him to get a better job at least without even looking at his investment he refused and says that he can be taking his profits through his investment.