How Much Are You Willing To Sacrifice?
Being in crypto an being open about being in crypto means you have to give some explanation to people around you. If they ask you how profitable being in crypto is, you either tell them the truth, or tailor the truth as you like, as the situation requires.
Asking someone how much they make is not nice, but greed in powerful, plus good friends and family may feel entitled to know.
Onboarding friends and family members to this platform is a real tings, many are doing it. Everything is public on this platform, from earnings to wallet transactions, so no surprise there. Everyone can know how much you earn.
Trading is a different matter because your trading portfolio as well as your trading history is for your eyes only. Your keys, your crypto, unless you decide to be transparent and show what you're doing. However, if you're asked for advice, things can get complicated.
When BTC started to take off at the beginning of the year and then reached its ATH you could hear about BTC everywhere. There was no news outlet or social media platform missing the news, which caused some of the retail investors to jump in the wrong time.
Then in May all hell broke lose and the crash happened. Those retail investors who onboarded the wrong tome got hurt pretty badly and decided to never invest in crypto again.
Now we're about to take off again and crypto will hit the media full speed. Q4 has barely started and we have a breakout on almost if not all the charts. History has the habit of repeating itself, so here we go again.
I suspect many of the non crypto family members and friends are going to get interested in crypto after hearing in the news that BTC reaches a new all time high. This is funny because in May, after the crash happened Twitter was full of jokes about how no one is interested in buying BTC at $30k but they will be interested when BTC will hit $60k gain, which is actually seems to be true.
Learning how crypto trading works, especially for those who have no financial education is not easy. Learning takes time, a lot of time and even after years of experience in trading, 💩 can happen anytime. A big red candle can come out of nowhere and many account can get rekt in a matter of minutes.
Investing on behalf of family members and/or friends is even worse. If you lose, you may lose more than the money invested.
So, what do you do? How do you handle these situations? Are you keeping it to yourself or are you brave enough to involve friends and family members? Do you think Emperor is right?
Posted Using LeoFinance Beta
