Post
Topic
Board Nigeria (Naija)
Re: how can u tell ur parents and and siblings to invest in Bitcoin or crypto?
by
Fiasem20
on 17/10/2024, 19:56:55 UTC
So the only way to persuade a person to something is when u are the example of ur words.
Exactly,the only way a person can persuade someone to get involved into Bitcoin is by the person's lifestyle.We humans,we believe in outcome, people would like to see the outcome of what you do before believing, there's this popular statement people normally say(Seeing is believing) in essence they want to see what the outcome would be before believing.In regards to Bitcoin,it isn't necessary to convince or pressurize a person to get involved rather it's a choice,there are many parents that don't just believe in online investment no matter how convincing your lifestyle may look,so it would be wise if they invest on what they are conservant with like real estate and assets like stock.
However, Bitcoin investment isn't a short term investment and and also not a get quick rich scheme investment,so if I would tell my parents to invest on Bitcoin it's likely that I would explain the basic knowledge of investing on Bitcoin.The basic knowledge of investing on Bitcoin involves;
1.Bitcoin is a volatile digital asset.
2.Holding for a long term is more profitable than the short term.
3.Building an emergency fund in order not to tamper on their holdings
4.Introducing a suitable accumulation strategy like the DCA strategy.
5.The best storage platform to hold their Bitcoin for a long term.
After educating them on the basic knowledge of investing on Bitcoin it's left for them to make their decision.