Post
Topic
Board Beginners & Help
Re: Treat newbies right - Teach them and sell to them at the ATH
by
Welsh
on 08/01/2021, 21:49:18 UTC
On my side of things I want to teach my friends everything that I know in the crypto industry especially on Bitcoin but when it comes to the question with regards to buying or selling I ultimately avoid answering it and explain to them that this kind of decisions are supposed to be made by you. Why do I avoid it? Because I don't want my friend to blame me when it comes to him losing money because he followed what I said even if he/she doesn't blame me I will feel guilty that he/she had suffered a loss because of me. That is what I am trying to avoid I still say Do Your Own Research (DYOR) even on my friends because of it. Also I think this is better because in the long run they can be independent when it comes to buying and selling cryptocurrencies.
At the end of the day, they should still accept the responsibility that they are ultimately taking it into their own hands the moment they decide to trust your recommendation. You'll see a lot of users here recommend Coinbase, but it doesn't mean there hasn't been issues for certain users over the years. Doesn't mean the exchange is bad. Personally, I would tell them that there's two ways of trading, via an centralized exchange where you deal with a company, and you should do your research on the best for you. Alternatively, there's P2P exchanges which I'd explain the risks of that, but the potential of getting better deals.