What are things to consider before someone go into investment?

[Franctoshi]

Basic Knowledge about the investment you want to get involved.
Your Investment capital ( amount to be used)
Risk Tolerance; amount of money you can invest for a long period of time without having to worry about the funds or be needing it in a short period of time.
Lastly, The Purpose of investment or investment goal; (Retirement purpose, hedge against inflation, self custody etc).

[Oyoyoma_yu]

There are different types of investment, and every investment has a way of making investors successful. How do I mean, Bitcoin is not a business of selling of goods , and services, but an investment that requires patience, perceverance before you will be able to make profit. More also, know your risk tolerance because not everyone endures long term investment, and don't also depend on your long term investment for your immediate survival. Bitcoin investing is not meant meant for everyone since everyone cannot endure the pains of Bitcoin bear market, and volatility. As a beginner, it is wise you understand what Bitcoin investing is all about, and be sure you can cope with the behavior of Bitcoin, make your research, and do not only rely on mere information.

[TrialBitcoin]

Basic Knowledge about the investment you want to get involved.
Your Investment capital ( amount to be used)
Risk Tolerance; amount of money you can invest for a long period of time without having to worry about the funds or be needing it in a short period of time.
Lastly, The Purpose of investment or investment goal; (Retirement purpose, hedge against inflation, self custody etc).

I agree. Before putting money into any investment, you need to understand what you are investing in and why. Your capital should come from money you can afford to leave invested, not funds meant for emergencies or essential expenses. Risk tolerance is also important because every investment can experience losses or volatility. Most importantly, having a clear goal helps you choose an investment strategy that actually fits your financial situation and time horizon.

[Proty]

You did the right thing with the explanation you offered to him. The problem here is that he   is starting with the wrong mindset, because the questions he asked as regards how much profit he is to make and the anticipated timeline is not the kind of mindset he should start with. This is evidence that he lacks an understanding on how bitcoin works.
Bitcoin is mostly suitable for long term investment and should not be seen as an avenue of making quick profit. What ever Money that is meant for daily needs or that can't be locked away for years such money isn't supposed to be used for bitcoin investment.
However, it is all about personal decision, so your own is just to explain how things works then is entirely to him to decide what is best for him whether he fit to invest or not based on your explanation.

[Cgrexp]

There are different types of investment, and every investment has a way of making investors successful. How do I mean, Bitcoin is not a business of selling of goods , and services, but an investment that requires patience, perceverance before you will be able to make profit. More also, know your risk tolerance because not everyone endures long term investment, and don't also depend on your long term investment for your immediate survival. Bitcoin investing is not meant meant for everyone since everyone cannot endure the pains of Bitcoin bear market, and volatility. As a beginner, it is wise you understand what Bitcoin investing is all about, and be sure you can cope with the behavior of Bitcoin, make your research, and do not only rely on mere information.

When investing in Bitcoin, you should not only look at potential profits. You should also have your own financial capacity and mental preparation to withstand price drops. It is not right to invest with money for daily expenses, urgent needs, or future essential responsibilities. It is not right to make investment decisions based only on information about price increases, nor should you make decisions based only on frightening information. It is more reasonable to know about market volatility, consider your own financial situation and risk tolerance, and then make decisions. Instead of directly following someone else's opinion, you should try to understand how Bitcoin works, its risks, and whether you have the real ability to hold it in the long term. Investment decisions should not be based on potential profits, but on your own financial reality, time perspective, and risk tolerance.

[Felicity_Tide]

~snip

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.

For some reasons, I actually like people who always insist on trying out something despite the warnings.
I personally see no reason why you should be bothered, considering the fact that you've already informed him about the pros and cons, and I guess that's the least you could do. The thing is, everything actually boils down to the amount of discretionary income that he can always come up with, but again, a lot of people barely have a decent discretionary income in this part of the world, which makes having a job and sticking to a long term plan very crucial.

So, I think there's no point of bothering yourself about the whatever the person in question wants to do next. Like I said, the least you could do was to inform the person about the pros and cons attached. My little advice is... don't hesitate to help out when the person comes back asking for help or clarification.

[Bright0515]

Every investment has risks, you should be aware of the these risks so you can weigh the options between investing in it or deciding not to do so. One thing you need to consider is your financial strength or capacity, if you know that you cannot keep up with a particular investment it is best to either increase your source of income first or just focus on other ones within your means. Also consider the long term result, if you don't make more profits than losses in an investment then it is better not to go into it. Lastly, before making an investment you need to ask yourself if you are knowledgeable enough to invest.

[Moreno233]

Basic Knowledge about the investment you want to get involved.
Your Investment capital ( amount to be used)
Risk Tolerance; amount of money you can invest for a long period of time without having to worry about the funds or be needing it in a short period of time.
Lastly, The Purpose of investment or investment goal; (Retirement purpose, hedge against inflation, self custody etc).

For Bitcoin, your argument is good and valid since we know that basic knowledge is enough to get someone started, but for other forms of investments, basic knowledge knowledge is not enough considering how possible it is to invest in the wrong thing. I'm speaking as a Nigerian who understands the risk of not doing proper due diligence, any mistake you make will cost you a lot of money. I recur so many supposed investment opportunities I have seen in the past with some painted as a short cut to wealth but in reality they are actually pyramid schemes designed to steal people's money. I don't have to mention names because you already know a lot of time including CBEX, Silverkuun & TOFRO and many others that looked legit on the surface but were scam from the beginning. 

[Yablee0]

What you didn't isn't that bad, at least you have told him the entire truth and how everything is done. Maybe he was expecting something else or maybe for you to sugar quote things then maybe after he might have started seeing a different thing along the line that's when he will start seeing you otherwise or thinking of giving you issues, but kudos since you were very opened to him.

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.

One thing about me is that preaching Bitcoin to someone will be the last thing I will do because people love when they are being sugar quote of which I dislike so much. The much I can do if I have really seen your interest in it is to redirect you to make your own personal research yourself about Bitcoin investment. Make up your minds to invest all by yourself, then I can see how I can guard you in it.

 That being said. Talking of that your friend, if I were you I would have still stand my ground on what you have earlier told him about Bitcoin investment. Make him know the risk involved, that is not as if you don't want him to invest but you are just trying to avoid future do you know me? ( Problem). Recommend some Bitcoin related channels, books etc for him to go through by himself, ensure he make his own personal findings, maybe through this means you can be able to further know how prepared he is in his decision, so you wouldn't have yourself stucked in a mess in future through the decision you made today.

[Cryptoprincess101]

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.

You have done more than enough by explaining to him on how to become a successful bitcoin investor. If he sees you as someone who doesn't want him to start investment just because you are telling him the basic things that he ought to know before starting his bitcoin journey then you should leave him alone. I don't even like going too much length to convince anyone about the things they need to know about Bitcoin investment because as soon as you start having strange or mixed feelings I will just stop and never tell you a nything again.
     The advice you gave him by telling him to have a source of income is the best advice because if he doesn't have a source of income he might not become successful since at some point he might feel like selling his bitcoins to attend to his needs. At least with a source of income he will always have the discretionary income to be investing in bitcoin from time to time using the DCA strategy.

[Jaycoinz]

Every investment has risks, you should be aware of the these risks so you can weigh the options between investing in it or deciding not to do so. One thing you need to consider is your financial strength or capacity, if you know that you cannot keep up with a particular investment it is best to either increase your source of income first or just focus on other ones within your means. Also consider the long term result, if you don't make more profits than losses in an investment then it is better not to go into it. Lastly, before making an investment you need to ask yourself if you are knowledgeable enough to invest.

These are the basics that should be considered when going into investment. Your source of income as well as long term plans is what will yield you profit in any investment even if it doesn't have to be bitcoin as for the risk ratio, I believe so far as it has to do with investment then it's a risk an only those willing to take the risks will be able complete and get tangible results with their investments.

[Makus]

If anyone wants to start a Bitcoin investment there are lots of things you always remember, whenever issues like this comes up about an amount of money that that was not settled correctly or the person not having their Bitcoin they invested in, all these are issues that shows that they are obvious scams .No legit source of income will ask you to pay a specific amount of money for an opportunity, if it gets monetizes just know that it is based on people's plans that are in that country. It is very important to run some confirmations before you run an investment.

[Grace333]

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 .

Good point, I feel like you have to convince someone to invest in something it's wrong especially in Bitcoin because this is something that comes with a lot of benefits in the long run. If the person you are telling about Bitcoin doesn't show interest then it's a waste of time. Just as you pointed out, investment is something that that's done base on professionalism, although not everyone would fully understand any sort of investments before going into it but the main thing is all about the commitment to continue learning and getting better in that regard.

[Youngrebel]

I think you actually did the right thing by explaining the risks to him instead of encouraging him to invest blindly and Bitcoin is not a guaranteed source of daily or monthly income, and expecting quick profit can easily lead someone to put in money they cannot afford to lose and if he wants to invest, it should be money left after taking care of his basic needs and emergency savings, not money he needs to survive and at the end the decision is left for him to decide but make sure he understands what he is getting into first. You don’t have to stop him from investing but just make sure he doesn’t enter with too much expectation.

[Cryptomultiplier]

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.

If I were in your shoes when someone is making such a request, I would after explaining and re-explaining the risk, point them in the right direction that would even entail u help them set up their investment portfolio.
After that, I wash my hands off it and let them do it themselves with guidance from maybe this forum by asking him to join and be free to ask whatever questions he needs to ask or provide him with the materials and reference links to do his own research on the subject, because what I would hate to be, is someone who didn't help out a brother in need mostly when he is persistent and can device evil plans against me in the future because I didn't want to help him at that instance.

[Odusko]

The way you speak of Bitcoin as if you already have an established investment platform that generate you income and you are making your friends to feel as if you are dealing with a lot of profits, you should also tell us how much you have made from your Bitcoin investment so far, because based on experience, treating Bitcoin as a sole investment to depend on can be a bug fallacy that most people don't care to actually tell the truth about they experience with the investment or holdings.
Is good that you mentioned some risks that come along with focusing on Bitcoin as a business instead of treating it as a risky alternative investment.

[Big Dirams]

I think you actually did the right thing by explaining the risks to him instead of encouraging him to invest blindly and Bitcoin is not a guaranteed source of daily or monthly income, and expecting quick profit can easily lead someone to put in money they cannot afford to lose and if he wants to invest, it should be money left after taking care of his basic needs and emergency savings, not money he needs to survive and at the end the decision is left for him to decide but make sure he understands what he is getting into first. You don’t have to stop him from investing but just make sure he doesn’t enter with too much expectation.

Actually people don’t acts fair when telling someone about bitcoin or maybe someone needs them to explain how bitcoin works and why there are more investors in bitcoin than other investment. If we don’t make proper clarification to them about how bitcoin works and how easily we can make money and still loss money then we are just boosting up their expectations on bitcoin and they will end up taking the wrong turn.

 The suitable money used for investment is always the discretionary income and not our emergency funds or even money meant for our basic needs. And when going into bitcoin investment as a new investor we should invets what we can afford to loss.

[fredericktaylor]

The way I looked at it was, I wouldn't have let him start investing without any knowledge about Bitcoin and face financial losses. I would have tried my best to convince him and made him aware of the risks of Bitcoin and asked him to take the time to learn about the volatility of the market before starting to invest and made him aware of how to reduce the risks of Bitcoin through investment.

The investment decision is completely dependent on the will of the individual but I would definitely make a new investor aware of all the things that he has to adopt before starting investing in Bitcoin. My responsibility is to make him aware of the risks and the main task of the investor is to gain at least basic knowledge about Bitcoin before starting to invest, but if he does not gain knowledge about Bitcoin and starts investing aggressively and as a result, if he faces losses, then it is completely his own failure and no one else is responsible for it.