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Author Topic: Beware giving crypto advice to your friends and family  (Read 153 times)

robertsmark

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Beware giving crypto advice to your friends and family
« on: February 18, 2021, 11:11:32 AM »
Just because your portfolio is up 200% over the past two months, doesn't mean you're an investing expert. If family or friends come to you looking for advice in what coins to pick, be very careful about where you direct them. You should point them in the right direction towards useful resources and explain what the technology is behind certain projects.

If you find yourself telling them that they can double there investment in a months time, you're making a big mistake. If the market crashes again like it did in 2018, you've just damaged a relationship.

I told multiple people close to me about crypto in December of 2017 before the big crash, and when things went downhill in 2018, I looked like a fool. I was over

Make sure that you make it very clear when answering questions, that you don't know what the future holds and that they should only invest what they can afford to lose.


If it goes up they don’t thank you, they congratulate themselves.

If it goes down they blame you. It’s a lose/lose situation.



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sidik7

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Re: Beware giving crypto advice to your friends and family
« Reply #1 on: February 19, 2021, 12:02:01 AM »
maybe before giving advice to friend or familly , what is prepared is that we have to give the risk  that exist in crypto and provide understanding because at that time they will be more deep and ready when they are in crypto .
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yurez1981

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Re: Beware giving crypto advice to your friends and family
« Reply #2 on: February 19, 2021, 10:11:05 AM »
Some acquaintances ask me to buy bitcoin or not, and I answer everyone to decide for themselves, since bitcoin can grow 10 times and can also fall 10 times. Nobody will give guarantees on the crypto market.

sidik7

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Re: Beware giving crypto advice to your friends and family
« Reply #3 on: February 19, 2021, 11:30:21 PM »
Some acquaintances ask me to buy bitcoin or not, and I answer everyone to decide for themselves, since bitcoin can grow 10 times and can also fall 10 times. Nobody will give guarantees on the crypto market.
That's right sir, because crypto is quite risky but it does not rile out the possibility that crypto can also change people's lives to improve from existing experiences around finance.
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likely use the superior Ethereum
blockchain
platform.
     
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faster than its
pre-decessor
‘Bitcoin’
   
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         ▄███▄
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       █▀  █  ▀█
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fallenangel1789

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Re: Beware giving crypto advice to your friends and family
« Reply #4 on: February 20, 2021, 02:32:24 AM »
Agree. In the end, they may lose their money. For newcomers, I always advise the top 100. Less profit but fewer risks.

 

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