What should you know before recommending Bitcoin to a friend?

[albon]

I would like to add a tip to the ones mentioned in this thread, and it’s a recommendation I would give to any friend or newcomer who wants to get into Bitcoin:

Adopt the idea of ​​long-term investment and be patient, because Bitcoin is not a get-rich-quick scheme.

Developing a long-term investment plan is the best thing can any beginner do and this will allow them invest and let their coins grow in value over time, without worrying about short term fluctuations and temporary drops in the value of their holdings.

They must not lose their calm, no matter what happens as patience is the key to success. Bitcoin will not make you rich overnight, and it is not a fast-profit project.. You must have enough patience to let it mature, otherwise you may regret making rushed decisions.

[Perfectbaby]

Can you add something? Good tips will be merited and linked in the OP!

Learn not to trust a friend who already into cryptocurrency with you because, you a closest can still your coin without you knowing it was from him who hacked, and this should sound as warning to everyone who is going into bitcoin investment to be that cautious of their device, probably shouldn't be walking around with their smartphone they used for investment, for security purpose it is important they should be having two mobile phones, and also for privacy purpose reasons, they should install a privacy screen so that the next person wouldn't have to look into their phones to know what they are doing with their smartphones are someone could steal their password. Before operating their device at the public place they should carefully checked if cctv or camera are installed there so that it wouldn't capture their details while logging in to their wallets. I don't know if this has been added here.

[AGogi2003]

Can you add something? Good tips will be merited and linked in the OP!

I would like to add that it's important to hand over details of your Bitcoin wallet to your next of kin because if you don't pass such details then all your hard work will be lost forever. If you have family then make sure they can access your Bitcoins in case you are no more in this world. Bitcoin differs from real world assets like our Bank account in a sense that their is a procedure in place to hand over your Bank balance to your nominee.  But with Bitcoin we have to do all such formalities in our life.

You can even give someone that you trust most your bitcoin details so that when you are not more he can share it to your family, because they have some of your family members that don't like your success not all next of king are good to give your property, because he can be like you don't have child and you will like to give your younger once your property if you are not more, then you can probably turn one of them your next of king, and probably the one you give don't like your success you can probably be harm and get all your property.

Anything about bitcoin is risk and we should never trust anyone that you will share your private key with him if you are not more he will handle it. how are you sure that you will first leave the word before him, so we just need to be thinking wisely before taking action. i can't give anyone or tell them about my bitcoin investment I can only tell my mum, and that is the only woman you can trust and you will be safe with your property. So in my opinion is better to hold your coin then telling others your private key because you don't know the real person. In terms of crypto you should not truest anyone you need to be wise and smart if you don't want to lose everything in your wallet.

[uchegod-21]

In addition, everyone recommending Bitcoin to anyone should teach them how to differentiate  between hypes and realistic expectations. Many newbies do not know this, that is why they panic whenever any news (whether fake or real) is shown on the internet.  Newbies will not be profitable if they sell out of panic all the time. Volatility is very normal and the price of bitcoin will not stay up or low for ever. The best they can do for themselves is to have long term projections for their bitcoin investments so they can beat volatility and stop themselves from reacting to every news.

[HajiBagi]

If you have friends or family who are interested in Bitcoin or you want to encourage them to invest, don’t be too excited trying to convince them. Give them all the info they need. Don’t just push them, give them facts, which is way more important.

Teach them how the market moves, that it’s not some ponzi scheme that guarantees returns. It can be volatile, and we can lose money too. But with basic education and real trust in Bitcoin’s long-term future, their investment will likely grow, especially if they choose to HODL.

Pushing people who are interested in bitcoin to invest is very risky because it can lead anyone who introduces them to it to unexpected results. One thing we should know about bitcoin is that it is not something that someone will just wake up one day and decide to buy. Try to help your friends or family who are interested in bitcoin understand how the market works as well as how bitcoin works because that is something that many people don't understand when they invest in bitcoin.

Some people are interested in bitcoin because they want to make a quick profit, and if you don't make them understand that bitcoin is not for that, they won't understand. However, if you let them understand some key things about bitcoin and they are still interested, it shows that they are truly interested in bitcoin, and they will not blame you if things don't go as planned.

[Silverstonez]

Very nice suggestions! And some things I would like to add would be to have endurance; this is not a thing to make quick cash, and you really need to understand the risks before getting involved.The first step is staying safe, making sure your devices are secure, backing up keys and try to stay away from all these untrustworthy websites. Plus friends and relatives should be encouraged to take their time and not jump in just Bitcoin, just because everyone else is talking about it. Once they take  their time to understand the odds and ends of how it works, the chances of them getting into trouble are much lower and they will be able to profit off from it in the end.

[EluguHcman]

If you have friends or family who are interested in Bitcoin or you want to encourage them to invest, don’t be too excited trying to convince them. Give them all the info they need. Don’t just push them, give them facts, which is way more important.

Teach them how the market moves, that it’s not some ponzi scheme that guarantees returns. It can be volatile, and we can lose money too. But with basic education and real trust in Bitcoin’s long-term future, their investment will likely grow, especially if they choose to HODL.

Your opinion is a primary and necessary accountable awareness
for beginners because, clearing the anticipation conscience of those that tends to believe that Bitcoin is good as risk free and as a quick rich scheme as Ponzi is very important to be educated so that, their emotions would be made up prepared about the risks and uncertained unpredictable market events before they comes in.

So when they can control their urge of making quick profits and understanding that Bitcoin is better for long term goal, they would be in the very safe position taking unregatable steps to control their emotions.

[Sanitough]

In addition, everyone recommending Bitcoin to anyone should teach them how to differentiate  between hypes and realistic expectations. Many newbies do not know this, that is why they panic whenever any news (whether fake or real) is shown on the internet.  Newbies will not be profitable if they sell out of panic all the time. Volatility is very normal and the price of bitcoin will not stay up or low for ever. The best they can do for themselves is to have long term projections for their bitcoin investments so they can beat volatility and stop themselves from reacting to every news.

Hypes can be deceiving, and most of the target are the newbies. Let's just avoid creating decisions because of these hypes, that will never be relevant in the long run. This is why newbies should never stop learning from the forum, from the market, from the global events, because that will help them to decide based on realities and facts, not based on hypes and speculations. We are dealing with bitcoin, not with meme coins that can be easily influenced by hypes.

[hypernovafsk]

For me encouragements them works
 I listen to a lecture today that's talks about encouragement. It just appeared to me now after reading this. It's good to encourage someone who wants to learn but don't force em. Anybody who wants to invest in bitcoin is well come encourage them and show them how to do it.
Explain to them in detail, tell em about the risk and make them know that risk is part of success

[AakZaki]

I never recommend crypto to my friends especially to beginners. That’s part of my caution because crypto is extremely volatile. Unless they genuinely want to learn I’ll only teach them slowly, starting from the basics like avoiding suspicious apps, not clicking random crypto-related links, and always verifying the source of any wallet or exchange they plan to use.

I once had a friend ask whether he should buy crypto using money borrowed from the bank. I immediately refused to guide him. If he did that and the asset didn’t bring profit, it would become a huge problem instead. I always emphasize starting with a small amount of capital, never going all-in and being prepared for potential losses.

I also teach them the basic theory of when to buy and sell, at least the indicators I personally use. And I never give sweet promises like “it will definitely go up” or “you will definitely profit.”

[uche6215]

Teach only Serious people: Don't further teach the person if you noticed that he is not serious to learn. That should be a time wasting person. Like we have taught people about Bitcoin and it forum, many Just abandoned everything. So leave those people.

Don't Tell the Public: Please we should not tell anyone the amount of bitcoin we have and we should not broadcast it because arm robbers will use that to trace you and force you to send the coins to their wallets on gun point. So always be mute about your coins. We had heard stories about that people were attacked with gun and forced to transfer their bitcoins to the criminals. Avoid bad friends because they can sell your out.

Don't Give to anyone by yourself: Don't give your seed phrase to anyone to save it for you but you keep it in a saver place. We have heard stories of that, a guy gave his seed phrase hard drive to his girlfriend and she mistakenly through it away. Keep it by myself.

[Yablee0]

If you are considering introducing bitcoin to someone either a friend or a family member endeavor to tell them the raw fact about bitcoin features, how it is volatile in nature, what funds is best for bitcoin investment in fact let them know the basic information about it.

Secondly, one  mistake most enthusiasts of bitcoin normally does is that they will try persuading someone into it, that's very wrong because it can give you unnecessary pressure from the person if things didn't work out as planned.  If you most bring someone in the system just make it a suggestion to the person in question, introduce it to him or her then endeavor to let them know the risk involved to avoid future conflict then if the fellow accept at his will then you are good to go.

[ozgr]

Thanks, it’s a really good guide and I’ll share it with my friends who are just learning.

A friend of mine bought 500 ethereum at 10$ back in 2016. He transferred them to his myetherwallet and forgot to write down the private key, so he lost everything Every time we meet, he still talks about it.

I think people who are new to crypto get influenced too much by popular influencer accounts when investing. I tell them not to take investment advice from anyone.

[Big Dirams]

This is a very useful post which many user will find useful especially beginners that just came in newly. I really enjoy reading this thread and I have seen a lot of interesting tips people should know about Bitcoin before going in.

I will add that Before investing in Bitcoin one should know that Bitcoin is a like a rollercoaster, it is filled with unpredictable movements. They should be prepared that at certain points they will experience dips and crash.

[woez]

This is a very useful post which many user will find useful especially beginners that just came in newly. I really enjoy reading this thread and I have seen a lot of interesting tips people should know about Bitcoin before going in.

I will add that Before investing in Bitcoin one should know that Bitcoin is a like a rollercoaster, it is filled with unpredictable movements. They should be prepared that at certain points they will experience dips and crash.

Hmm. Yes. Be smart and pay attention to market trends. This market is full of surprises, and being alert to each surprise will significantly increase the value of our investments, especially BTC, which is the most comfortable, despite its volatility, as you mentioned.

It seems you're too quick to judge. I don't see your level from the current rankings, but we appreciate your perspective on things, especially BTC and its growth patterns. The market is indeed very volatile, but make no mistake; this downturn presents the greatest potential price upside to be seized, and don't waste it. Don't jump in when the price skyrockets; now is the time if you're interested and confident.

[Y3shot]

I think it is just good understanding one needs to introduce bitcoin to anyone. You just need to make sure the information that you are giving about bitcoin is not misleading and if it knowledge that can really help one in the journey of bitcoin,  then it is worth giving it out to anyone who is willing to know about bitcoin. One of the problems people do have when introducing Bitcoin to others is that they over exaggerate, they make it feel as if imvesting in bitcoin it is just all about making profit .

[Felicity_Tide]

If there is one thing I have understood, it is simply "Don't trust, but verify". If we take a look at the industry toward, we all can admit that there are a good number of believers, and those who don't. A lot of people tend to say things based on their own bias or emotions. A lot of people define Bitcoin based on their emotions, whether negative or positive. An example of someone who does that is Peter Schiff, anf alot of supposed influencers.

Newbies are more vulnerable to believing things that are not entirely true. The idea of verifying things isn't restricted to newbies alone, but it is also very important for those who're already in the game, or those who are even recommending Bitcoin itself. As someone who's recommending Bitcoin, every single information that is being passed across must be a valid info that has already been verified. You don't just say things you're are not sure of, just to make Bitcoin sound more pleasing to the ears.

[MusaPk]

You can even give someone that you trust most your bitcoin details so that when you are not more he can share it to your family, because they have some of your family members that don't like your success not all next of king are good to give your property, because he can be like you don't have child and you will like to give your younger once your property if you are not more, then you can probably turn one of them your next of king, and probably the one you give don't like your success you can probably be harm and get all your property.

Anything about bitcoin is risk and we should never trust anyone that you will share your private key with him if you are not more he will handle it. how are you sure that you will first leave the word before him, so we just need to be thinking wisely before taking action. i can't give anyone or tell them about my bitcoin investment I can only tell my mum, and that is the only woman you can trust and you will be safe with your property. So in my opinion is better to hold your coin then telling others your private key because you don't know the real person. In terms of crypto you should not truest anyone you need to be wise and smart if you don't want to lose everything in your wallet.

Human life is very uncertain and we don't know the exact date on which we will cease to exist. Everyone of us has a person in life that we can trust the most like in case you have your mum. Those who are married and have kids may pass on info to there kids. What I am trying to say is that it's an extra layer of care that you are adding to make sure your Bitcoins won't be lost after we are not more in this world. It's totally up to owner of Bitcoin to hand over things during his life or just leave this issue unaddressed. 

[uche6215]

You can even give someone that you trust most your bitcoin details so that when you are not more he can share it to your family, because they have some of your family members that don't like your success not all next of king are good to give your property, because he can be like you don't have child and you will like to give your younger once your property if you are not more, then you can probably turn one of them your next of king, and probably the one you give don't like your success you can probably be harm and get all your property.

Anything about bitcoin is risk and we should never trust anyone that you will share your private key with him if you are not more he will handle it. how are you sure that you will first leave the word before him, so we just need to be thinking wisely before taking action. i can't give anyone or tell them about my bitcoin investment I can only tell my mum, and that is the only woman you can trust and you will be safe with your property. So in my opinion is better to hold your coin then telling others your private key because you don't know the real person. In terms of crypto you should not truest anyone you need to be wise and smart if you don't want to lose everything in your wallet.

Human life is very uncertain and we don't know the exact date on which we will cease to exist. Everyone of us has a person in life that we can trust the most like in case you have your mum. Those who are married and have kids may pass on info to there kids. What I am trying to say is that it's an extra layer of care that you are adding to make sure your Bitcoins won't be lost after we are not more in this world. It's totally up to owner of Bitcoin to hand over things during his life or just leave this issue unaddressed.  

That should be one of the most important thing in the saving of cryptocurrency and specifically bitcoin, because if we say we are not showing our seed phrases to anyone, then the day you stop to exist in the world, the bitcoins would become lost ones. So it is good we show someone who is trustworthy so the person can use them after the person has left the world. But many people in the forum believed that telling someone is not a good idea so they prefer keeping it to themselves.  Though I see that as personal decision to made. Probably the person would spend them before departure.
So he won't think of anything over there again and there would be peace of mind.

[Nwada001]

For me encouragements them works
 I listen to a lecture today that's talks about encouragement. It just appeared to me now after reading this. It's good to encourage someone who wants to learn but don't force em. Anybody who wants to invest in bitcoin is well come encourage them and show them how to do it.
Explain to them in detail, tell em about the risk and make them know that risk is part of success

Sometimes I actually don't encourage anyone to invest. All I could only do if I see how serious and interested you are is to teach you how you can go about it, and that teaching will come after I have exposed you to the danger that comes if you approach Bitcoin in the wrong way and how profit is never guaranteed and money can never easily be made from Bitcoin in case the person has that kind of mindset. And after that, I will give the person the right information in case they decide to invest; they can do it themselves, and if they need any help, my door will always be open to assist.