Convincing My Cousin to Invest $20,000 in Bitcoin

[Jankuokm]

A cousin of mine working in Malaysia called me a while back; he had accumulated a significant amount of money in his bank account and wanted to move it elsewhere, so I suggested investing in gold and Bitcoin. He understood the idea of ​​investing in gold but felt that Bitcoin was too risky. I explained to him that while Bitcoin investments could yield higher returns than gold, there is indeed some risk involved due to the asset's high price volatility; however, many investors avoid panic and remain patient. One shouldn't sell Bitcoin simply because the price suddenly spikes or drops; holding it for the long term is crucial for making a profit. So, I suggested he start with an investment of $20,000. He eventually agreed to invest in Bitcoin, and I hope he sees profitable results.

[Darker45]

Although I've made profit with Bitcoin, at a rate I can't gain elsewhere, I prefer not to convince somebody to invest in it. Especially to somebody who still has suspicions or doesn't understand it yet, suggesting that he/she invests in Bitcoin could have a tragic ending. It could end your healthy relationship, too.

For me, it's better to just introduce Bitcoin and answer questions if he/she's interested about it. Let interest grow naturally. It's hard to give financial advice with a market that's highly uncertain. If Bitcoin suddenly nosedives, drops all the way back to $60,000 in the next week or two, and your cousin panics, distressed, and is losing sleep, won't even listen to you anymore, what would you do?

[tread93]

A cousin of mine working in Malaysia called me a while back; he had accumulated a significant amount of money in his bank account and wanted to move it elsewhere, so I suggested investing in gold and Bitcoin. He understood the idea of ​​investing in gold but felt that Bitcoin was too risky. I explained to him that while Bitcoin investments could yield higher returns than gold, there is indeed some risk involved due to the asset's high price volatility; however, many investors avoid panic and remain patient. One shouldn't sell Bitcoin simply because the price suddenly spikes or drops; holding it for the long term is crucial for making a profit. So, I suggested he start with an investment of $20,000. He eventually agreed to invest in Bitcoin, and I hope he sees profitable results.

Yeah man, I mean it’s generally a good idea to tell people about bitcoin and encourage them to invest. Personally I would never affix a dollar amount with that advice. I would only simply state that you should invest whatever you would be willing to lose. I would also emphasize that Bitcoin is definitely a safe bet, but it tends to be volatile. Just be sure to hear from him often, or perhaps even never again (I know he is still your cousin lol but still) or live with being the person who shifted them in the wrong direction if Bitcoin ever goes south. It’s best to just stay in your lane I’ve found. People often follow a good leader, just lead by example.

[stadus]

So, I suggested he start with an investment of $20,000. He eventually agreed to invest in Bitcoin, and I hope he sees profitable results.

Good luck, tell your cousin as well to make sure that he knows how to secure his assets. this is the first thing I would tell someone before investing because people are too eager to invest but later end up losing the investment they held for years because they don't know how to secure their wallet.

[batang_bitcoin]

A cousin of mine working in Malaysia called me a while back; he had accumulated a significant amount of money in his bank account and wanted to move it elsewhere, so I suggested investing in gold and Bitcoin. He understood the idea of ​​investing in gold but felt that Bitcoin was too risky. I explained to him that while Bitcoin investments could yield higher returns than gold, there is indeed some risk involved due to the asset's high price volatility; however, many investors avoid panic and remain patient. One shouldn't sell Bitcoin simply because the price suddenly spikes or drops; holding it for the long term is crucial for making a profit. So, I suggested he start with an investment of $20,000. He eventually agreed to invest in Bitcoin, and I hope he sees profitable results.

I have a different approach and I usually tell my friends or relatives if they want to invest, to only do it with an amount that they can afford to lose. And for this case, if you're able to convince your cousin, I hope that he's not going to blame you if the market suddenly drops but it's not going to be the end of the world when that happens and just casually tell that he has to know how the market moves and never panic at all if the price moves a lot. Usually with the newbies, they keep their newly purchased bitcoin in the exchanges and teach him how to withdraw that and put it on his own wallet with his recovery seeds.

[notocactus]

So, I suggested he start with an investment of $20,000. He eventually agreed to invest in Bitcoin, and I hope he sees profitable results.

I don't convince anyone to invest money in Bitcoin. It's not because I am selfish but firstly it's for my privacy. I don't want anyone around me to know that I am a Bitcoin investor or cryptocurrency investor or trader. If they know that, I can become their targets of physical attacks or online hacks. I never want to face with such risks and attacks which can come anytime against me and my family.

Secondly, I don't want to have any responsibility, even minor responsibility, on success with profit or failure with loss of anyone who listened to my advice and do something after that. It's your friend's money, it's his responsibility for investment and any action he does but if he lost money, I would not feel comfortable at all.

[crwth]

Hmm. In terms of investments, especially with family members or relatives, it's not ideal to invest everything at once especially if the belief of the person is still not fully formed. Understanding cryptocurrency would take time and it might not be accepted by everyone that doesn't understand it.

Maybe DCA-ing would be good and also just a percentage of it only. I don't know what your cousin will feel if you manage to let him invest everything and then the price drops. That would really be an emotional rollercoaster for him.

We all have been there for sure  

[Antidote47k]

I wouldn’t be particularly worried whether he can handle a 20% price drop but more about whether he can securely hold such a significant amount.
That kind of amount makes self custody entirely different for one who is new to bitcoin. Losing a seedphrase, exposing it, signing a malicious transaction or leaving everything on an exchanges can quickly turnout to be an expensive lesson instead of a good investment decision.

I do feel you’re somewhat responsible to teach him or atleast guide him about these stuffs. If long term holding is the goal these parts are equally as important as the price volatility aspect of it, if not more important, as a beginner you should spend atleast much time teaching him how to secure it. PS: this is very important.
The investment thesis can change with the market but a compromised wallet won’t give you an opportunity to wait for the next cycle.

[Tonimez]

Introducing a family member to a trade is or investment is not an easy thing because your duty does not end in just introducing them, it continues beyond that because any slight volatility, the person will call you for assurance that his money is still intact. Again, how sure are you that the $20,000 is his Discretionary income because that's another thing that may make your assignment to take you longer than necessary. If he had $20,000 as his entire savings, he doesn't need to invest all of them, he only needs to invest what he can afford to loose at anytime. This opens to another question, can your cousin afford to loose the sum of $20,000?

Your work just started because if he has invested the amount, he may stay glued to the chart and he will always call and call and call. Don't persuade families too much into investment like bitcoin which we know that nothing is guaranteed and you will have to have patience for over a long period of time of more than 4 to 10 years initially before thinking of selling or even allowing it to stay longer.

[famososMuertos]

A cousin of mine working in Malaysia called me a while back; he had accumulated a significant amount of money in his bank account and wanted to move it elsewhere, so I suggested investing in gold and Bitcoin. He understood the idea of ​​investing in gold but felt that Bitcoin was too risky. I explained to him that while Bitcoin investments could yield higher returns than gold, there is indeed some risk involved due to the asset's high price volatility; however, many investors avoid panic and remain patient. One shouldn't sell Bitcoin simply because the price suddenly spikes or drops; holding it for the long term is crucial for making a profit. So, I suggested he start with an investment of $20,000. He eventually agreed to invest in Bitcoin, and I hope he sees profitable results.

I don't care about the story;  if your cousin invests $1, it makes no difference; there's no need to try to convince anyone to invest in bitcoin. Everyone has to make their own decisions. And even though your story smells like something made up by a "bot," it serves as a good example of how insignificant these kinds of stories are compared to the importance people try to attribute to them.

Make your move (or whatever play you choose) based on your own convictions.

[Merit.s]

Don't you think that $20000 is too much for a investor to put all at once into bitcoin. Since, he doesn't have the confidence in bitcoin, I think using DCA will be better for him where he can invest $500 weekly in order for him to learn more about bitcoin and understand the market movement overtime.

Don't forget to also tell him how to safeguard his bitcoin investment by getting a hardware wallet and add passphrase to his seed phrase. All these can be learned as his DCA is ongoing. I only tell my closed ones to invest in bitcoin for their future.

[pooya87]

It's never a good idea to give any kind of investment advice to others specially family members. It usually doesn't end well and the chances of it not ending well depends on how much experience they have in investing money which usually is none for most people!

It's a thankless job as well.
If they make a lot of profit, they're not going to really thank you or give you some of it
But if god forbid they lose money.... you'll never hear the end of it. They may even demand you compensate their losses because you told them to make that profit ... haha

On top of that I personally hate introducing Bitcoin to others as an investment because I never considered it as an asset. Bitcoin is the only money in existence (everything else is just currency) and people should only convert their fiat to bitcoin if they seek financial sovereignty. The profit they are going to make is the icing on the cake.

[Alvin_talk]

I want you to understand what you have done; you've just put yourself in a tight end. Let me explain, as at 6th of October, 2025 bitcoin price was around 126k dollars but today we are at 85k dollars. That is a percentage drop of around 32.54%.

To an ordinary investor who doesn't understand the dynamics of bitcoin, this seems like a big lose, especially for newbies like your bro, so just pray this kind of drop doesn't occur again, else you'll have your bro to deal with. Although, the good news is that of recent, bitcoin volatility have reduced drastically. You have to hope this trend continues so that your bro doesn't liquidate at a loss and end up putting the blame on you for luring him into such investment.

[snowpega]

Although I've made profit with Bitcoin, at a rate I can't gain elsewhere, I prefer not to convince somebody to invest in it. Especially to somebody who still has suspicions or doesn't understand it yet, suggesting that he/she invests in Bitcoin could have a tragic ending. It could end your healthy relationship, too.

For me, it's better to just introduce Bitcoin and answer questions if he/she's interested about it. Let interest grow naturally. It's hard to give financial advice with a market that's highly uncertain. If Bitcoin suddenly nosedives, drops all the way back to $60,000 in the next week or two, and your cousin panics, distressed, and is losing sleep, won't even listen to you anymore, what would you do?

Yeah, you have raised valid points with which I really agree here. Convincing someone by showing a green garden is not the right way. Rather than this, just spreading information about this asset will be enough, and if one finds anything positive after doing his own research. Then he can enter this space on his own. The best for you will be that this way your relationship won't be disturbed. What I personally used to say while discussing Bitcoin with anyone I know is that Bitcoin has great potential and a strong community.

And I used to share some historical data about it just for additional information, and the rest of that I leave to them by saying, if you want to start, you first need to learn whatever is needed to stay safe in this space. And in this if you need any such kind of assistance, and you think you are still confused, I can help with this. But keep in mind, the final decision will be yours, as the amount you are going to invest is yours, so whatever money you will make or lose will also be yours. I say this just as an example for their betterment to understand the nuance of this matter or doing DYOR. What do you think? Am I doing it the correct way or not? CMIIW!

[Livingleged]

A cousin of mine working in Malaysia called me a while back; he had accumulated a significant amount of money in his bank account and wanted to move it elsewhere, so I suggested investing in gold and Bitcoin. He understood the idea of ​​investing in gold but felt that Bitcoin was too risky. I explained to him that while Bitcoin investments could yield higher returns than gold, there is indeed some risk involved due to the asset's high price volatility; however, many investors avoid panic and remain patient. One shouldn't sell Bitcoin simply because the price suddenly spikes or drops; holding it for the long term is crucial for making a profit. So, I suggested he start with an investment of $20,000. He eventually agreed to invest in Bitcoin, and I hope he sees profitable results.

It’s definitely not a bad idea to introduce bitcoin to your family. In fact it’s one thing I like to do just because I know the potentials in bitcoin and its investment. But one thing I’m always careful about is not trying to like convince them about the investment. I show it to them and allow them make their own conclusions whether it’s okay for them to put their money in such a volatile investment.

Also I don’t know how much your cousin is having in his savings, but I feel like starting a bitcoin investment with $20k feel really not okay for me I’ll rather advice him to start accumulating it little by little in a DCA method that would really reduce the tension of losing funds as someone that is new into the market.

[LuckyCrypto777]

It's never a good idea to give any kind of investment advice to others specially family members. It usually doesn't end well and the chances of it not ending well depends on how much experience they have in investing money which usually is none for most people!

It's a thankless job as well.
If they make a lot of profit, they're not going to really thank you or give you some of it
But if god forbid they lose money.... you'll never hear the end of it. They may even demand you compensate their losses because you told them to make that profit ... haha

On top of that I personally hate introducing Bitcoin to others as an investment because I never considered it as an asset. Bitcoin is the only money in existence (everything else is just currency) and people should only convert their fiat to bitcoin if they seek financial sovereignty. The profit they are going to make is the icing on the cake.

The funny thing, if you can call it that, is that relatives and friends learn about Bitcoin because it's usually at its ATH. And if you "help" them invest at that moment, there's a very good chance these new investors will immediately fall into a price correction. They'll quickly find someone to blame and exit Bitcoin back into fiat. And ironically, the price often starts to rise after that.

[traderethereum]

If he start with $20,000 without using DCA, that is not a good idea because in the fluctuation happens, he could be worry and can't take a breath. He will feels bad if the price get the correction and anxiety if the price will still goes down.

Using DCA is the thing you can suggest to him and teach him how to buy Bitcoin weekly or monthly so he doesn't use all of his money at once. Buying Bitcoin gradually good for him while he learn more about DCA.

If he eventually agreed to invest in Bitcoin, you should besides him and support him so he will not feels alone especially if the market down.

[#CapsLOck]

As far as I can tell, the main issue is the word convince. If he's still not sure about bitcoin. I'd much rather get him to understand what he's buying and give him the option to decide how much he's purchasing. Could be very different with a $20.000 investment depending on his income. Emergency fund, debts and other assets. If he buys and ends up with a major price drop shortly after. He could be forced to sell at an inopportune time even if Bitcoin is successful in the future. The more appropriate test is if he can see his investment drop substantially without having to sell it. If he can't. The job is likely to be too big for him, even if the long term forecasts are positive.

[LogitechMouse]

---
So, I suggested he start with an investment of $20,000. He eventually agreed to invest in Bitcoin, and I hope he sees profitable results.

Well, assuming that he bought already at this moment, and he plans to hold it for years, an EARLY CONGRATULATIONS to him because most probably he'll make money especially if he will catch the right time to sell those holdings and he sold it during the bull market.

While you convinced your cousin at the right time IMO, I still believe that convincing him alone isn't enough. You know what's better? Link him to those educational contents online where he can learn more about Bitcoin and cryptocurrency in general. Having the knowledge will make him a better investor in the long run. Teach him the lessons that you know, and if possible, say to him to have a possible mentor that will guide him all the way. We know that investing with 0 knowledge isn't easy at all. It's like you're going to a battlefield without any ammunition whatsoever.

I wonder though if this will be the first and last time you'll convince your cousin because after this one, he might ask for more advice from you, and if something bad happens with his money, you'll be the one to blame. Are you ready for that one OP? I do hope you answer this because... I'm curious.

[Uhwuchukwu53]

Investment idea is good as suggestions but not convinced because when it's done without proper knowledge it's already a serious issue for you that brings the idea you must ensure the investor know all nitty gritty top and bottom of the investment because pressure of someone who lack knowledge and been convinced is different from one who has the knowledge. That amount of money is good to hold on Bitcoin if the person is full of knowledge, by using strategy like DCA and exercise patient as well hold for long time such amount will yeild good outcome.