I was doing a thought experiment today - what would I say and what advice would I give if at some point during the upcoming Holidays a close friend or relative should ask about getting into Cryptos?
Of my friend group, none are involved, despite being very technically competent people. Most relatives are not involved either.
The easiest thing for a beginner is to simply buy and hold, so I wouldn't want to recommend anything aside from high quality (preferably undervalued at the moment) cryptos.
The answer, I think, is to get them set up with a simple App like the ones from Coinbase and Uphold, despite the higher fees that are charged.
I'm thinking an immediate buy into XRP as it's undervalued at the moment due to the SEC litigation and then set them up to DCA some fixed amount at regular intervals into BTC, ETH and maybe some small amount into something like Link, HBAR, FTT, or XDC.
As simple as it seems to us once you know how, there are a lot of newcomers out there who will need our help to get started.
Anyone else thinking about this or have any wisdom?
Quoting: nemo_solus I did help one person get onboard with crypto, but I pretty much did everything for him until recently when we transferred his holdings into his own custody and he was able to see how the wallets look and what it means to send crypto, etc.
I have been asked for beginner lessons in another group. I have thought about it and I would first tell them
I'm not going to tell you why to buy crypto, I'm not selling you anything.
I'm not going to tell you what to buy, I'll tell you what I did but you can make your own decisions.
I can tell you how to buy crypto, how to keep it safe, how to keep records and secure them, how to create wallets, what kind of arrangements you should make with your computer or other device to minimize risk, how to send tokens.
I would emphasize buying and holding long term.
I would explain the most rudimentary trading principle of holding one asset until it appreciates, then swapping it for another with more upside.
I think I could get those points across to the people that asked for them.
And I would give credit to how much I learned from Digital Dave/Crazy4Cryptos even though he's not an XRP guy. But I benefited from his youtube channel and his patreon group, for the first year I was in crypto, for some suggestions of what to buy at the beginning, and for some real nuts and bolts how-to information.
and the Bearable Bull's Udemy course, for some concepts, that really helped me make firm decisions and not second-guess myself. Thanks Bull! Always a confidence builder <3 always what I need most.
And of course GLP <3 and various diss chord groups.
