What are things to consider before someone go into investment?

[PhilosopherKing]

If that your friend continues being stubborn and want to start, quit telling him not to invest and just show him how to invest so he can start. You friend no be pikiin anymore, so he don't have any right to blame you when he go and fuck things up. Just what you should do is to advice him to started with small amounts of money and ongoingly invest while also learning. The small amount is so that he can be able to properly mange losses that beginner use to make when they first start.

 Once he see the way Bitcoin price dey jump up and down, Him sef go confirm all those things wey you dey tell am. E get sometimes that bitcoin can go down and stay down low or plenty numbers of year before it go up. The thing that is expected from your friend is that he should not go and start to be putting money for food and rent. The dude should use just discretionary income and then invest. So leave him to invest and learn the hard effective way.

[Dareo]

Honestly, you did the right thing with your friend. Newbies to crypto often think that it is a place to get rich overnight. But in reality, the main condition for survival here is not to invest money that if lost will affect your daily life. If your friend wants to choose trading or holding as his only source of income, he will be scared and sell everything at the first market crash and then blame you. You tried to convince him, that was your responsibility. However, I would say that you should not take the responsibility of managing his funds or giving signals yourself. At the end of the day, if there is a big loss, this money will be the first thing that will ruin your friendship.

[Agbam]

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.

In this case I wouldn’t say he’s acting like a scammer, maybe a trader’s mindset..Yes because he’s very inclined to profits and immediate returns.
People just Dey find wetin go blow dem quick quick, them no wan dey patient, anything wey go take years dey do dem like say na “thy kingdom come”.

The nigga fit don look DPhor lifestyle now assume say he’s making it big and na why he wan follow am do that him investment, I no go blame am sha… the situation of things in the country don make people wan dey rush life but no be so,…… to make am for this life Man gats plan, strategise and replan and take it jeje make u nogo crash.

[AYOBA]

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 .

Yeah, because if invest has be out of someone choice it cause a bit problems in between. Because like example now maybe someone was introduce to investments and after telling him how the investments works and instead of  him to leave the rest to him so that he can make a research about he doesn’t understand, but he advised him the amount of money this so person can invest. You see that he doesn’t allowed him to invest base on his choice, so in this case if it happen that this person later lose everything on his first investments there’s no way this his friend would escape is going to hold him accountable for his mistakes.

This is the reason why when we come to advise anyone on how approach investments. Should be to make sure that  he doesn’t start up his first invest with big amounts of money, so that even though he lose it won’t feel it that  much than lose huge amounts of money, and from there he will lose courage.