What are things to consider before someone go into investment?

[Cyber_warrior]

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.

You are right, there are so many people who mistakes trading for investing and they think with Bitcoin they can get rich over night. Either when trading or investing we should always remember to use our discretionary income, at least with that we won’t get affected even when we lose the money.

I won’t advise anyone, newbie or not to trade in bitcoin, but rather invest in it, hold for a long period of time and there is a possibility of getting a good return. Nothing is really promised in bitcoin, because it remains a volatile asset. Though, history have shown that if you can hold for a long period of time you will have a high possibility of getting a good return.

So invest in Bitcoin rather than trade with it, and do so with your discretionary income.

[Crypto_Timothy]

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.

Now, imagine you allowed him to invest with his last card now or even worse sef, imagine he sent the money to you and then you did the investing yourself, do you know how many persons have fought because of this. Like friendships even families sef, because when they need the money urgently and the money isn't there, to them you are a criminal and you must provide the money.
Omo, all in all, you did the best thing there. If he really wanted to investment, Bitcoin is free knowledge, he could have done his own research and maybe then he would understand why you didn't want him to use his last card or even investing without any income flow at least.

His current mindset is even too, let me say "quick" for someone who wants to truly invest in Bitcoin, like he needs returns on invest in 2 months or something.

[ASloveapg]

Let's say a friend of mine says he wants to invest in Bitcoin, the first question I will ask him is what knowledge does he have about bitcoin. Then I will tell him to look at bitcoin price projections everyday for a month for him to understand its projection. I will also say he should be conversant daily by reading or listening to bitcoin news. And he must have it at the back of his mind that he should only invest money that if he eventually losses the money that it won't pain him

This is what some of people don't understand when it comes to bitcoin investment, bitcoin investment is different from any other cryptocurrency coins, that is why when people come to know more about Bitcoin Investments, I first of all ask them two questions which are discretionary funds and the mindset of investing for a very long term in a period of 4 to 8 years and above. Bitcoin investment is all about consistency, and if the new investor is ready to accept the challenge then definitely he will not regret investing in Bitcoin for a very long term.

The most important thing in Bitcoin investment is to start with the right expectations, many people start seeing Bitcoin as a way to get rich quick after being introduced to it, and this is where they make their first mistake. Seeing the volatility of Bitcoin, many people think that it is possible to easily make a profit in the short term by using this volatility, but in reality, when they try to make a profit by using volatility to trade, they get into the biggest problem, because then they are faced with completely unexpected market conditions and can never buy or sell as expected, and as a result they only end up in losses.

And this is why it is necessary to first gain real general knowledge about Bitcoin so that they do not make the mistake of expecting to make a profit in the short term at the beginning of the investment in the first place. It is definitely necessary to maintain a long-term mindset here, 4 years is the minimum, but when investing for 8 to 10 years, the chances will be better, and that is why when we advise someone to hold for the long term, we should advise investing for 8 to 10 years, holding two cycles of Bitcoin can give better chances of profit.

But as easy as we talk about holding for 8 to 10 years, in reality it is not an easy matter, because it is a very long time, even investing continuously for this long time requires patience, sufficient faith in Bitcoin, and at the same time, it is necessary to have a mentality to ignore volatility. Because since the journey is long and Bitcoin fluctuates every moment, and therefore, a lot of market volatility will be faced during the journey of Bitcoin investment, but only if we can have faith in the possibilities of our investment during each volatility, then it is possible to ignore these volatility. So, of course, it is necessary to do research and understand your own capabilities, considering your own capabilities. At the same time, an emergency fund is mandatory for financial security. However, it is not necessary to create an emergency fund before starting to invest, but rather, we can start both together at the beginning.

[AmaGold70]

The simple truth is that it is wrong to invest in Bitcoin with an emergency fund or money that you will use within a very short period of time, and if you are investing in Bitcoin so that you will earn profit in a very short period of time, is better you don't venture into Bitcoin investing, otherwise you might regret making such investment. There are people who make such mistakes but they are forced to sell before time. Bitcoin investing requires patience because it doesn't reward investors immediately, so when you invest your money, the right thing to do is to be patient with your investment in other to make the most profit out of your investment, but investing for the sake of making quick money can be very disappointing.

[DPHOR]

The simple truth is that it is wrong to invest in Bitcoin with an emergency fund or money that you will use within a very short period of time, and if you are investing in Bitcoin so that you will earn profit in a very short period of time, is better you don't venture into Bitcoin investing, otherwise you might regret making such investment. There are people who make such mistakes but they are forced to sell before time. Bitcoin investing requires patience because it doesn't reward investors immediately, so when you invest your money, the right thing to do is to be patient with your investment in other to make the most profit out of your investment, but investing for the sake of making quick money can be very disappointing.

At this point self one can be disappointed because their plans aren’t coming forth as they could be planning, this is the reason why if one must venture into investment they must at least try as much as possible to make sure they didn’t invest with the funds that they would be need immediately or emergency funds.
Investment needs funds that is not in use for a longer period of time, as I know when someone invests funds that are I used they may likely lose interest to their investment because they wouldn’t be holding for long and there will be no profit that would be yield to their investment.

[Umulala-alala]

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.

You are right, there are so many people who mistakes trading for investing and they think with Bitcoin they can get rich over night. Either when trading or investing we should always remember to use our discretionary income, at least with that we won’t get affected even when we lose the money.

I won’t advise anyone, newbie or not to trade in bitcoin, but rather invest in it, hold for a long period of time and there is a possibility of getting a good return. Nothing is really promised in bitcoin, because it remains a volatile asset. Though, history have shown that if you can hold for a long period of time you will have a high possibility of getting a good return.

So invest in Bitcoin rather than trade with it, and do so with your discretionary income.

Trading can be very risk, although experience traders sometimes make profits from trading and also they also loss, bitcoin investment is not a get rich over night investment anyone telling you that bitcoin is a get rich quick scheme is only misleading you, bitcoin is a long time investment which don't still guarantee us profit. As a newbie who want to go into bitcoin investment they should keep their mind off from trading rather they should invest in bitcoin for long time and make they use their discretionary income to invest BTC, in case things went wrong or things went unexpected they will know they didn't lose money so important but what they can afford to lose.

[Big Dirams]

The simple truth is that it is wrong to invest in Bitcoin with an emergency fund or money that you will use within a very short period of time, and if you are investing in Bitcoin so that you will earn profit in a very short period of time, is better you don't venture into Bitcoin investing, otherwise you might regret making such investment. There are people who make such mistakes but they are forced to sell before time. Bitcoin investing requires patience because it doesn't reward investors immediately, so when you invest your money, the right thing to do is to be patient with your investment in other to make the most profit out of your investment, but investing for the sake of making quick money can be very disappointing.

At this point self one can be disappointed because their plans aren’t coming forth as they could be planning, this is the reason why if one must venture into investment they must at least try as much as possible to make sure they didn’t invest with the funds that they would be need immediately or emergency funds.
Investment needs funds that is not in use for a longer period of time, as I know when someone invests funds that are I used they may likely lose interest to their investment because they wouldn’t be holding for long and there will be no profit that would be yield to their investment.

Normally, investment are always to be consider a 50/50 situation where the money can be loss and the same money can yield us returns. For any investment, for us to be on a safer path the best options of funds needed is always the discretionary funds because with discretionary funds we don’t actually have any important bills which haven’t been taken care of so to invest we need our discretionary income so we don’t fall into the situation where by we will regrets investing or using that our money which isn’t our discretionary for investment which doesn’t guarantee profits.

[Asiska02]

Trading can be very risk, although experience traders sometimes make profits from trading and also they also loss, bitcoin investment is not a get rich over night investment anyone telling you that bitcoin is a get rich quick scheme is only misleading you, bitcoin is a long time investment which don't still guarantee us profit. As a newbie who want to go into bitcoin investment they should keep their mind off from trading rather they should invest in bitcoin for long time and make they use their discretionary income to invest BTC, in case things went wrong or things went unexpected they will know they didn't lose money so important but what they can afford to lose.

Trading can be very profitable and at the same time very difficult to make money from. A newbie coming into the crypto space and headed towards trading is not the best approach. Cryptocurrency investment in general is said to be a very risky one, but once you are able to make the best of the investment, you stand to risk a little and stay ahead of the person that’s just after making money from trading first, which is more risky than crypto investment. 

Discretionary income is often attributed to crypto investment but its features can also be used to describe the money a trader will be willing to let go off and trade with. As a newbie, having discretionary income to invest with or trade with will save you from regrets or emotional downturn when things don’t go as planned. A newbie should be very careful to learn through gradually before taking major decisions in the crypto space.

[Sunshine1525]

At this point self one can be disappointed because their plans aren’t coming forth as they could be planning, this is the reason why if one must venture into investment they must at least try as much as possible to make sure they didn’t invest with the funds that they would be need immediately or emergency funds.
Investment needs funds that is not in use for a longer period of time, as I know when someone invests funds that are I used they may likely lose interest to their investment because they wouldn’t be holding for long and there will be no profit that would be yield to their investment.

Bitcoin would disappoint anyone that's going into it for short term profit, people can only profit through that way by luck which makes it very risky and why they shouldn't use money meant for daily needs or emergency situation cause you can't tell when the emergency situation would happen.

So since Bitcoin is a long term investment it should be strictly invested with left over funds after every important thing is settled so the investor won't be triggered to sell off too early to settle those necessities.

[Yorubek]

Trading can be very profitable and at the same time very difficult to make money from. A newbie coming into the crypto space and headed towards trading is not the best approach. Cryptocurrency investment in general is said to be a very risky one, but once you are able to make the best of the investment, you stand to risk a little and stay ahead of the person that’s just after making money from trading first, which is more risky than crypto investment. 

There is a chance to make money through trading, but the risk of losing money is very high, the number of people who have achieved success in trading is very small, but if you have the knowledge, experience and strategy to control emotional decisions and enter the market at the right time, there is a possibility of making money. This is because the decision to trading in a completely new situation can put a person in a big financial loss.
Using prudent money to invest is the right decision, as a result, the investor can invest little by little with a long-term plan and maintain discipline, thus reducing the risk of losing money by holding the investment for a long time and there is a chance to make money from Bitcoin in the long term.

[Rhow]

The simple truth is that it is wrong to invest in Bitcoin with an emergency fund or money that you will use within a very short period of time, and if you are investing in Bitcoin so that you will earn profit in a very short period of time, is better you don't venture into Bitcoin investing, otherwise you might regret making such investment. There are people who make such mistakes but they are forced to sell before time. Bitcoin investing requires patience because it doesn't reward investors immediately, so when you invest your money, the right thing to do is to be patient with your investment in other to make the most profit out of your investment, but investing for the sake of making quick money can be very disappointing.

At this point self one can be disappointed because their plans aren’t coming forth as they could be planning, this is the reason why if one must venture into investment they must at least try as much as possible to make sure they didn’t invest with the funds that they would be need immediately or emergency funds.
Investment needs funds that is not in use for a longer period of time, as I know when someone invests funds that are I used they may likely lose interest to their investment because they wouldn’t be holding for long and there will be no profit that would be yield to their investment.

Normally, investment are always to be consider a 50/50 situation where the money can be loss and the same money can yield us returns. For any investment, for us to be on a safer path the best options of funds needed is always the discretionary funds because with discretionary funds we don’t actually have any important bills which haven’t been taken care of so to invest we need our discretionary income so we don’t fall into the situation where by we will regrets investing or using that our money which isn’t our discretionary for investment which doesn’t guarantee profits.

Investments can be profitable or profitable, but if you say it's 50/50, it seems like the chances of profit and loss are equal, like flipping a coin. But in reality, the risk of any investment doesn't work like that. Rather, the percentage of risk can change depending on which asset you are investing in, how much you buy it for, and how long you plan to hold it. I will say the same thing in the case of Bitcoin, the price of Bitcoin is volatile, so you should not buy it with money that you may need in the next few weeks or months. Because it increases the risk. That's why I won't ask if the profit and loss will be 50/50. Rather, I will ask how long this money will not be needed, can I hold on to it even if the price drops a lot, and do I have money set aside for emergency expenses?

[ASloveapg]

Investments can be profitable or profitable, but if you say it's 50/50, it seems like the chances of profit and loss are equal, like flipping a coin. But in reality, the risk of any investment doesn't work like that. Rather, the percentage of risk can change depending on which asset you are investing in, how much you buy it for, and how long you plan to hold it. I will say the same thing in the case of Bitcoin, the price of Bitcoin is volatile, so you should not buy it with money that you may need in the next few weeks or months. Because it increases the risk. That's why I won't ask if the profit and loss will be 50/50. Rather, I will ask how long this money will not be needed, can I hold on to it even if the price drops a lot, and do I have money set aside for emergency expenses?

This is how it works in all cases, first of all, no investment is risk-free, all investments have different risks. Whether you do a business or an investment or whatever you do, there will be risks in all cases. However, the issue of risk management basically depends on how well you manage that issue, and your chances of success here will be created.
In the case of an investment, if you do nothing, do not know any research, if you start something completely blindly, then I think your risk will be 100%, but when you continue to research an investment, ensure that it is managed well, and examine everything through research on the future possibilities, then the risk of that investment will continue to decrease and the chances will increase due to proper management.
Otherwise, if you start something completely blindly without knowing anything, in that case, I will not say that the chances and risks are 50-50, rather I will say that the risk is 100% and no chance of success.

[SmartCharpa]

In that moment, what do you think anybody else would do? They will tell him to invest without telling him what Bitcoin is all about. You tried your best to tell him the truth, but that is the problem with people. They assume everything about Bitcoin is like other Ponzi schemes, even the NRC where people lost their money few months ago. That’s the kind of stuff our people are looking for, easy way to make money without any stress.

Do you know this is the main reason I will never tell anyone about Bitcoin investment, no matter how close we are. The person may turn you to his or her enemy just because you told them about Bitcoin. These days, people are only concerned about profits, they don’t care about the sacrifices and the efforts someone has put in for many years. They think it’s something they can achieve overnight.

[Callido]

Bitcoin would disappoint anyone that's going into it for short-term profit, people can only profit through that way by luck which makes it very risky, and why they shouldn't use money meant for daily needs or emergency situation cause you can't tell when the emergency situation would happen.

So since Bitcoin is a long term investment it should be strictly invested with left over funds after every important thing is settled so the investor won't be triggered to sell off too early to settle those necessities.

Anyone can trade the market for short term and make profits, same for anyone doing so for the long term. People trade Bitcoin for short term, and they make profits, it does seem like profiting very little to what that person would make if they had held longer.

Bitcoin is better for long-term investment, not that it doesn't profit those on the short-term journey.

[Pi-network314159]

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.

I have said this repeatedly Time with number that Bitcoin investment is not by force and not for everybody, if you advice someone to look for jobs or something doing before engaging in Bitcoin investment, to avoid hoping on it for dividend, and he objects it thinking you don't want him to make profit, then you allow him to do it as it pleases him. One thing I love about Bitcoin is that it allows everyone to have expirence or taste of what they want. Whenever an argument comes and someone is doubting, the person will surely see the reason why they need to have alternative rather than relying on it for quick profit because it's not a Ponzi scheme.

The summary is that I will allow him to invest if it pleases him. The market will determine if he keeps holding or will sell at Lost.

[yixichloro2xx]

Trading can be very profitable and at the same time very difficult to make money from. A newbie coming into the crypto space and headed towards trading is not the best approach. Cryptocurrency investment in general is said to be a very risky one, but once you are able to make the best of the investment, you stand to risk a little and stay ahead of the person that’s just after making money from trading first, which is more risky than crypto investment. 

There is a chance to make money through trading, but the risk of losing money is very high, the number of people who have achieved success in trading is very small, but if you have the knowledge, experience and strategy to control emotional decisions and enter the market at the right time, there is a possibility of making money. This is because the decision to trading in a completely new situation can put a person in a big financial loss.
Using prudent money to invest is the right decision, as a result, the investor can invest little by little with a long-term plan and maintain discipline, thus reducing the risk of losing money by holding the investment for a long time and there is a chance to make money from Bitcoin in the long term.

A trader needs to have some reasonable amount of money before they can really gain some substantial amount of money. I can't advice someone with low income or unstable income, let's say they have $100 to trade. With that amount you can easily be liquidated, and in profit aspect, it will take them lots of time (Periods of compounding) before they can achieve some level of good profits. To me , I see Trading as something for guys who have funds not someone who still trying to find their daily bread. Investing into bitcoin is the best option for the average person,, whereby you can buy Bitcoin according to your budget, without the fear of being liquidated. With the little amount of money  someone has, they can use it to accumulate Bitcoin weekly or whatever time frame that suit's them. I would be loosing mind if I was trader, drawing analysis up and down and monitoring the market eveytime. I don't have the energy for that.

[Nasdel4]

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.

I've come to understand that most people would rather choose to learn the hard way by letting their emotions take over when they should be using logic to process information being handed to them. In this case of your friend a trial would have helped him understand what you were talking about. You could also throw more light by providing him with materials to digest in order to understand better, that's if he will be willing to read to understand better. You didn't do wrong by advising him, you played your part well because some other persons will just let him test the waters entirely and face the consequences of their actions.
In a situation where he insisted, you could also let him on by introducing him to this platform to learn more about bitcoin investment and how it really works. I'm sure after reading through for some days, he will have a change of mind and do the right thing because there is a lot to learn from Bitcointalk.