I've seen some arguments, with some folks saying that getting into crypto is hard because we gatekeep information and "alpha" on early projects.



To be honest, I can't fault that claim, but it's not as simple as it seems.

If you've recommended a coin to a family member and they bought it, only for it to dump over 70% in the next few months with no signs of recovering, then you'd understand just how that relationship can be strained, and how uncomfortable it makes you feel to do it again.

But I don't believe in throwing away the baby with the bath water. So what do I do instead?

I ensure the person shares in the responsibility of choosing what to invest in.
So for instance, when I get asked what crypto to invest in, I have a default response.

I'll simply point out some coins in the top 10 market cap zone like $XRP and $BNB, but I don't stop there.
Next I tell the fellow to research these coins and see if they're comfortable keeping their money in the coin for at least 5 years.

This way, if eventually the person invests, it would be because they saw enough reasons to. Also, we would have established that it's a long-term investment.

We need to help people get started with crypto, but we also have to do it wisely so that we're not destroying relationships.
ALPHA1,67%
NOT3,22%
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin

Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)