Cryptocurrency industry is an industry like other industries that need caution from the players. It was yesterday, one of the members of a WhatsApp group i belong made series of comment, and in all his posts he said Bitcoin is a ponzi Schem, people doing btc are thieves.
Well, as a crypto expert (to an extent) i knew what has happened to him and i needed to educate him on what he should know about bitcon. I asked him what was his basis for this kind of derogatory comments, he said i should never mind, i later gathered that he gave his money to another person to invest in crypto and the person screwed him.
I tried to explain and educate him with the following;
1. How to invest in bitcoin.
2. the importance of trading or investing yourself.
3. why Holding and Timing are very important.
4. why it is scary to entrust your cash into someone.
5. Why knowledge is one of the most important tool you need in this industry.
He later admitted that he made a mistake.
If you were in my shoe, what would you've told a person that says bitcoin is a ponzi scheme created to scam people?
That's the importance of learning before investing. When I started, just like him, I do not have any idea about what my friends told me. Yet I believed and done my research. Never give your money to someone else that tells you a higher return on investment. Because Bitcoin and crypto are like stocks, you have control of your money and where you want to put it.