Best Way To Convince Your Friends To Invest In Bitcoin - Scholarly Open Access 2023 (2024)

Adapting to any change is not an easy thing to do, especially when it comes to something new in the financial aspect. Knowing that it’s no wonder that so many people are still doubtful and have certain restrains, and educating your friends about the benefits of investing in cryptocurrencies and Bitcoin as their franchise player can be challenging. All that is why we will further discuss this topic and try to make it easier for you to convince your friends to invest in Bitcoin, and for those who want even more info, check marketersmedia.com, where you can learn about all the advantages of BTC investments.

1. Use simple words to explain them cryptocurrencies

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Describing bitcoins by using jargon language may be a good thing when you talk with someone familiar with cryptocurrencies, what they represent, what their meaning is, and how they work. It’s for many reasons, and one of them is for sure that doing so may show how interested and educated you are and make the conversation go in the right direction. But, if you are talking to friends that are not familiar with digital money or have some casual chat about the crypto world overall, it is always best to keep it simple and use terminology they are familiar with and understand. Otherwise, the entire conversation can go in the wrong way, as they may not show interest, or at least not enough interest in all that. New words and terms that they are not used to need to be introduced to them slowly. Even more, it needs to be explained in a way that they can easily understand. That is the only way to make them interested in investing in bitcoins and do that with perception and passion. If you use too many professional terms, they can get bored very soon, and they will not give enough attention to it. Because of that, the best thing is to go step by step, slowly, and never go to the next one before the current one is completely finished. If there are any questions, it is a sign that you are going in the right direction.

2. Try to be patient and prepare yourself for a lot of explaining

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Keep in mind that your friends maybe did not hear anything about cryptocurrencies and that they believe that you have all the knowledge and will explain everything to them. It is not an easy task since there are too many new words, terms, and in most cases, even you are not familiar with everything, so learning about them can be pretty stressful. If it is way too complicated, try to imagine how hard it is for those listening and learning about the crypto world. Because of that, it is necessary to be patient and prepared to repeat some things several times. Remember that it is not an easy decision to invest in bitcoin, and they need to be well-informed before they start investing. It is always the best when someone is aware of all advantages this way of investment brings, and they do that with belief and passion. There is way too much incorrect information on the internet, and it can be tough to explain to someone that it is not true and that you are the one they should put their trust in since, remember, when something is about money, people always have certain doubt and are skeptical. The talks about bitcoin can change a person’s beliefs and way of thinking, so be tolerant and help them see what is right. After that, give them some time to assimilate all the information before you continue to discuss it with them.

3. Avoid arguing with friends

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Sometimes, friends and those close to us will use some of the arguments against bitcoin to argue with you. The best thing to do when or if this happens is to keep calm and patiently explain to them that they are not right. Arguing is never a good choice and will not bring anything neither to you nor your friends. They will probably use some arguments that you heard at least a hundred times before, and even though they may not be right, and even though there are so many untrue things one can find online, that info is still available, and for those not close with cryptocurrencies, it may seem like the fact that is true. Keep in mind that it can be very challenging to change somebody’s beliefs and way of thinking, so do it slowly. They may feel overwhelmed with all, and if they are, it won’t be possible to explain anything to them. Try to start with some basic things, and explain them deliberately by using real-life examples of bitcoin usage, along with advice on how to invest in BTC properly and how to make the most from them. It can show them that bitcoin can improve everything they love to do and make it easier for them. Once others get it, it would mean the world as they will be much more interested in cryptocurrencies and new technologies, and in the end, it would be easier talking to them about digital money.

4. Be practical

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Being practical is maybe the most crucial thing to do when someone wants to learn and find out more about investing in BTC, and for several reasons. Firstly, if you practically show them how you invest, everything one must do before that, what to avoid, and where and how to get the necessary info prior to investment, all that would make them understand that it is not an easy thing. As for the second, once you have their attention, help them create their digital wallet, send some BTC and have them send it back to you, for example. That way, they will get more knowledge on how everything works, almost like sending an email, and another advantage is that it is the ideal way for them to start believing that it is possible to make money from anywhere in the world 24/7.

Best Way To Convince Your Friends To Invest In Bitcoin - Scholarly Open Access 2023 (2024)

FAQs

How do I convince my friend to invest in Bitcoin? ›

I asked ChatGPT: How do I convince my friend to invest in Bitcoin...
  1. Educate them on Bitcoin. ...
  2. Highlight the potential rewards. ...
  3. Address their concerns. ...
  4. Start small. ...
  5. Show them success stories. ...
  6. Encourage them to do their own research.

Is Bitcoin a good investment in 2023? ›

A lot of financial experts say it's an excellent long-term investment. Your financial situation and risk tolerance will determine whether you buy bitcoin in January 2023. If you're looking for a long-term investment, consider buying Bitcoin at the start of 2023.

How do you make money with crypto 2023? ›

Following are the ways to make money with crypto in 2023.
  1. Mining. The most common way to make money with crypto is through mining. ...
  2. Staking. ...
  3. Trading. ...
  4. Investing. ...
  5. Lending. ...
  6. Earning Interest. ...
  7. Affiliate Programs. ...
  8. ICOs.

Should a 15 year old invest in crypto? ›

People of any age, even teens, can invest in cryptocurrency, but many U.S.-based crypto exchanges require users to be at least 18 years old. Crypto investing is high-risk, mostly unregulated, and considered speculative, so teens shouldn't invest more than they—or their parents—are willing to lose.

How do I convince my friend to invest? ›

Top ten tips for convincing investors
  1. Help your investor like you.
  2. Make your investors feel comfortable during your pitch.
  3. Understand that logic alone will not convince investors.
  4. Convince by giving your investor a simple investment story.
  5. Speak to your investor using their language.
Jul 15, 2022

Why do people want you to invest in Bitcoin? ›

Investing in Bitcoin can help you diversify your assets and increase your chance of building wealth. Bitcoin is a decentralized currency, meaning investors will be responsible for the currency's security.

What is the best Bitcoin prediction for 2023? ›

Potential Highs & Lows of Bitcoin Price
YearPotential LowPotential High
2023$18,200$31,000
2024$15,500$31,000
2025$21,500$53,000
2030$30,000$100,000
Jul 8, 2023

What is a realistic Bitcoin prediction for 2023? ›

BTC Price Forecast for July 2023

Based on the price fluctuations of Bitcoin at the beginning of 2023, crypto experts expect the average BTC rate of $$32,795 in July 2023. Its minimum and maximum prices can be expected at $$30,701 and at $$34,889, respectively.

Which crypto will explode in 2023? ›

Ethereum (ETH) – Overall The Best Next Cryptocurrency to Explode in 2023. Ripple (XRP) – Next Crypto To Explode With 10X Growth Potential in 2023. ApeCoin (APE) – Top Pick for the Most Promising Altcoin To Explode. Binance Coin (BNB) – Next Crypto to Explode Among Exchange Based Coins.

What are the most promising crypto projects 2023? ›

The Top Cryptocurrencies to Watch This Year
  • AiDoge – Overall best crypto to watch in 2023. ...
  • Chimpzee – This sustainable cryptocurrency lets users contribute to the environment while earning passive income through an NFT marketplace and P2E ecosystem.
  • Ecoterra – New crypto to watch offering rewards for recycling products.
Jul 7, 2023

Which crypto is best to invest for 2023? ›

Top 10 Cryptos To Invest In June 2023 [By Market Cap]
  • Bitcoin.
  • Ethereum.
  • Ripple.
  • Cardano.
  • Dogecoin.
  • Solana.
  • Polygon.
  • Polkadot.
Jun 19, 2023

Which crypto is worth investing in 2023? ›

Top 8 Cryptocurrency Investments in 2023
CryptocurrencyPriceMarket Cap
Ethereum$1,969.36$236.78 billion
Binance Coin (BNB coin)$248.30$38.72 billion
Cardano$0.2938$10.27 billion
Polygon$0.696$6.49 billion
4 more rows
Jul 5, 2023

How do I gift Bitcoin to my child? ›

If your crypto exchange has a mobile app, you can scan that QR code, then follow the steps on the app to send an amount of your choice to the paper wallet address. Paper wallets can be gifted with a card for a special occasion and are a more tangible form of digital currency.

Which crypto is best to invest now? ›

The Best Cryptocurrency to Invest in Today Ranked
  • Ethereum – Second most popular crypto in the market and the top choice for Web3 builders and developers.
  • Bitcoin – The world's first and most popular crypto, described as 'digital gold'.
Jun 22, 2023

Can I buy crypto with credit card? ›

Yes, but it might cost you in fees and interest. Each platform has a slightly different process for buying cryptocurrency with a credit card. From crypto exchanges that collapse overnight to extreme price volatility, cryptocurrency investing is riddled with risks.

How do I explain Bitcoin to a friend? ›

Bitcoin definition

Basically, bitcoin is a digital currency that has been created without the intervention of a central bank. While the Federal Reserve is responsible for the US's monetary system, bitcoin does not have a single person or organisation in charge.

How do I talk to someone about Bitcoin? ›

You can contact Bitcoin by emailing them, starting a chat with a live agent on their website or by leaving them a message on one of the social media platforms. Alternatively, you can use their knowledge base if you prefer self-service support.

Can I buy Bitcoin for a friend? ›

Transferring digital assets through an exchange is the simplest method. If you don't already have crypto to give, you can purchase it through a crypto exchange. Your recipient will also need to have an account to receive the funds.

How do you convince someone to send you money? ›

Get to know the person better.

The closer you are to this person, the more likely it is that they will be willing to give you something. If you're not already close to this person, spend some time building your relationship. This will help you understand how to communicate with them and earn their trust.

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