How to Get Your Friends Into Crypto
Two blockchain camps have emerged in 2018: the crypto-heads who are staking their positions and hoping to reap huge profits in 2018 and the naysayers who keep telling the crypto-heads that Bitcoin (and by proxy, every single altcoin) is a bubble.
Friends full of fear, uncertainty and doubt are being practical, conventional and prudent. The rest of us are being mad risk takers who are investing in companies that sometimes have little more than a slick website and a killer concept. For many of our pet blockchain projects, the implementation of real-world use cases is zero.
But there’s a tremendous satisfaction in watching the valuation of a company grow and seeing the developers and their team reap solid benefits as their new disruptive technology gets that much closer to implementation and mainstream attention and adoption.
For friends on the sidelines who are nervous but curious, there are a few ways to introduce them to cryptocurrencies without exposing them to risk.
1. Set them up with a CoinMarketGame simulator portfolio by registering for an account. They’ll be able to choose coins and track their performance – without dropping a single dollar bill, euro or yen. It’s fun and risk-free. By gauging their skills as a trader with real-time profit and loss figures, they can better decide whether or not buying cryptocurrencies is a winning investment strategy.
2. Set them up with a real account on your favorite exchange and then gift them with your favorite coin(s). There’s no cost or risk to them. If the coins perform well, that just may spell the end of absolutist thinking about the cryptocurrency market.
3. Send them to the CoinTimeMachine where you can plug in different coins and numbers, and imagine ‘what if’. The returns on so many popular coins are jaw-dropping.
4. Send them to the Crypto Coin Index at The Daily Hodl where they can explore various coins using short key descriptions, social media communities, metrics and calendar events. They’ll be able to use the page as a reference to retain basic information on our growing list of cryptocurrencies.
5. Accept that they have a difference of opinion and that there are myriad investment options and many paths to financial security. Wish them good luck with their IRAs, CDs, stocks and bonds.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin or cryptocurrency. Your transfers and trades are at your own risk. Any losses you may incur are your responsibility. Please note that The Daily Hodl participates in affiliate marketing.