I successfully guided my friend on Bitcoin investing

Honestly, I love it when I can help someone out and they actually benefit from it. Ever since I discovered Bitcoin, I’ve gotten really into it and started dipping my toes into investing, but I kept it to myself at first. I have this close buddy who was curious about it from the get-go. At first, he didn’t seem too interested, but eventually, he came back wanting to learn more from me. Since we’re good friends, I didn’t hold back and shared everything about my investments. A few months after I got started, he asked a lot of questions, and the more he learned, the more he got interested in investing himself. We were in school together, but since his family was well-off, he was busy helping out with his dad's business. One day, he tells me he wants to start investing. I gave him a ton of advice and warned him that there are no guarantees in investing, but he was still all in. That was a few months ago, and he’s kept at it ever since. Just yesterday we were chatting, and he mentioned that my advice really helped him take the plunge into investing and keep it going. Now he’s having a blast with it and has set his sights on some big goals for the future.

Given that Bitcoin is at a discount now at its current price; judging from its ATH, your advice may seem a good one. If you had advised your friend and he bought Bitcoin late last year, I'm not sure you would be in good terms with him by now 😏. He would be thinking you advised him wrongly because obviously he would've bought the top and be in loss now. Anyway, it's good to know that you've made your friend know that it's not all rosy with Bitcoin investment and that investors do suffer excruciating pains from losses. The loss part is the first thing I tell anyone asking to be brought into Bitcoin investment. It's so they know, to avoid unnecessary blames.

If someone is a very trusted and close person, then can be given the right idea about Bitcoin investment. Because if a close friend or relative is on the right path and can be successful, then it becomes a reason for joy for who give him advice . This success is both of who given idea and who follow properly  However, before giving any advice to anyone, it should be clarified that there is no guaranteed profit here. Bitcoin cannot be as a the way of getting rich overnight. This is so risky way but long time holder has more possibility to get profit. Investing amount should be according to the ability of investor.

There will always be two sides of the story, there could be people that you advice but they didn't take it seriously and just go on their ways on where and how much they will go on other investment. But there is the one that listens to you and then proved that you are correct and he will likely have to thank you for that. I advise many too, in my close circles of friends and families. But they have a lot of doubts on Bitcoin and so they didn't invest. I didn't force it to them although from time to time they will ask me about my Bitcoin investment and I will just say that I'm doing good and then don't insist it to them or rub it in.

It’s always great when the advice you give can be of use to others. Given all the advice you’ve shared about Bitcoin investing and investing in general—which has helped them feel confident about investing—did you also explain the potential downsides they might face? That’s something that needs to be addressed as well. Investing in Bitcoin is a good idea, but you must ensure you do it correctly. Storage must be secure. You must also choose a reliable wallet. If you make a mistake with storage, the risks are significant because making money in today’s economic climate isn’t easy—even for a businessman.

It's great if you give your friends advice about investing in Bitcoin. But one thing you need to pay attention to is that when you give that advice, you need to convey that investing in Bitcoin requires patience and discipline. Many beginners think that investing in Bitcoin will yield huge profits and think it's easy, but they don't realize that during their investment, they may encounter Bitcoin's price fluctuations, which can sway them and lead them to make the wrong decision, such as selling, which can result in losses.

In addition to talking about sweet things about investing in bitcoin, he should also have talked about the bitterness of investing especially since we haven't reached the bear market yet.  If the time has come, of course even experienced investors are not a few who are frustrated, especially his friend who have only started a few months.  The momentum of investment must also be considered properly, it may sound like delaying investing but instead I prefer to advise some friends if they want to invest first prepare capital to be consistent and mentally to face the bear market. Because if you only give sweet promises about investment, it will result in a relationship that is no longer harmonious when the bear market arrives

You did the right thing by not hiding the risks when introducing Bitcoin to your friend. Telling him that investing never guarantees profits is a crucial step in managing expectations and risks. I think your friend really enjoyed the process and had a bigger goal, he also took the best approach by investing consistently, it is clear that he used the DCA strategy which is the most commonly recommended strategy for volatile assets like Bitcoin. Next, keep discussing and learning together, especially if your relationship with him is very close. You also need to remind him to invest according to the risk he can bear.

Unlike you, I do not like giving advice to others, especially anything related to finance. Investing always carries risk and I am not an expert or advisor, so I do not think giving advice to others is a wise idea. However, I can share my experience and knowledge with them. But the final decision rests with them, and they must take responsibility for their choices. Furthermore, Bitcoin is becoming increasingly popular, so anyone interested will have no difficulty learning about and accessing it. We should not waste time introducing and advising others when we are not sure if they are interested.

I know I might be weird but I wonder what advise you gave your friend exactly because everyone says they have advice here and there but what did you guys tell them because I don’t like resonate with the most of the story l, here no deep thought just an up story that is common, op don’t feel attacked but I’m just being real, giving a friend advise to invest in bitcoin is really a lot but just said casually; I know how communication that has to do with investment are always intense so when people talk about it like this I don’t feel it. Anyways l, your friend buying bitcoin now is a good one because we are at the moment of bitcoin purchase but it’s beyond buying, more is needed. Always check on him to know that what he is doing and what’s not.

Giving advice to someone sometimes feels rewarding if you saw that they are benefiting on it and improved their life. I have a co-worker that invest on Bitcoin because I suggested it to her and she manage to earn profit during the bull run. She sold already her holdings since she needed the money for house construction. I don’t have any communication with her anymore since we already part ways to different companies. But be careful on who we give an advice since some people might blame us in case they suffer losses even if we explain the risk involved.

I do hope he told his friend about the bear season. It's fun reading through his post and sounds interesting to know his friend was or is excited to start investing  . Not everyone will take the risk, some remains sacred, hoping to see some evidence about proof of profits. The only think op is missing is the part where he never said to his friend about the bad side of the market that includes losses due to bear season, losses due to hacks or scam, and losses due to carelessness. Those few should be taken into consideration because when thing begins to go south, he will be the first number his friend will dial to ask about what is going on.

Then your friend should be a man of character Because if I'm not mistaken he started investing when we were $100K Which would be alot for a first timer to be happy about So would want to believe it's within this year Likely when we went to $60K+ I hope he understands why he's investing and why you chose Bitcoin Not withstanding educating him about basic ways to secure his Bitcoin.

Well, I have almost the same story as OP. Being introduced to Bitcoin is life-changing; it's not only about money or profits. But a lot of things I learned with Bitcoin, especially related to how I manage my finances. I remember my 1 friend that I introduced to him about Bitcoin during our university days, feels good when someone's life improves because you took the time to guide them sincerely, without expecting anything in return.

It seems this friend of yours actually listened to your good advice, did a right thing and got profit while your other friends did not. Maybe I'm smarter than my friends in this regard. I don't do things like you did because it's bad for my privacy and I can become target of physical attacks too. In addition, giving investment advice to any people is not a safe thing to do. If people want to learn about Bitcoin, they can do it by themselves, and if they want to learn about Bitcoin investment, how to invest well, they will search and learn about it quite easily. Bitcoin Physical Attacks getting more serious.

It's more like being selfless and more considerate about the affairs of others rather than being selfish with the knowledge of Bitcoin that made the friend in this post a better Bitcoin investor that would have been if he had gone at it alone. I would have loved to know the kind of Bitcoin investment the friend did though, because investment in Bitcoin could be by DCA strategy or lump sum strategy or could even be by trading Bitcoin which I doubt the friend did obviously. The risk however still looms because a dip further could create a kind of fomo that makes this friend panic and sell, but am hoping he is well enlightened to have a strong mind as he continues his Bitcoin investment.

It is good that you're doing your part to raise awareness of Bitcoin and its potential. But, i hope you're aware of the disadvantage that comes with it as it exposes Bitcoiners to the public as holders, and it can make the Bitcoiner the target of a physical attacker. Especially, BTC holder than share the holding information with friends just like you did because your friend has no business with the quantity of BTC you're holding, and I don't see it as something that involves what you're teaching him. No matter how close the person is to you, you must not buy BTC on their behalf, hold it for them, or be in charge of everything related to their BTC holding to avoid conflict that may happen because we have heard a story about Bitcoin buying, holding BTC on behalf of someone close to them, which didn't end well. If they want to buy BTC, you can guide them

Being selfless with a business idea is great; however, there is a need to be careful. Telling people what you do to make money is not wrong but allow them to make the decision. Don't give them a guarantee that it will be profitable because every business has some risks. I have had issues where I was blamed for business losses even when it was not my fault. This is why I allow people to research and make decisions after my advice. Trading Bitcoin as a newbie might not be ideal. Trading comes with lots of technicalities and high risks. I would prefer to recommend people to buy Bitcoin using the DCA style and keep it for a long time.

Nowadays, I try as much as possible to distance myself from bitcoin investments of friends and family simply because of the backlash you l may get if their expectations are not met. People often look at your financial situation and think if they start buying bitcoin they would automatically reach that level in a short period of time. This misconception is one of the major reasons I do not try to convince close friends about investing in bitcoin or even share that I hodl bitcoins.

OP, What you did by advising your friend on how to invest on bitcoin is a good one, but what you did that is not satisfied by me is the fact that you told him that "investing would never guarantee him profit", you use the word NEVER, for me that is a false and a fallacious statement you would want to give anyone as a form of advice, because how will you tell somebody that this thing will never give you profit but yet the person finds it interesting to still invest in what will never give him profit.