Why shouldn’t you invite your friends or colleagues into the world of cryptocurrencies, even if you, as it seems to you, are already making stable money here?
Responsibility and Blame: By inviting friends into the world of cryptocurrencies, you accept some responsibility for their investment decisions. If your friends suffer losses, they may blame you for misleading them about the risks or potential profits. This can have a negative impact on your relationship and trust in each other.
Risks and losses: The cryptocurrency market is known for its instability and volatility. Cryptocurrency prices can fluctuate wildly over short periods of time, which can result in significant losses. By inviting friends to invest, you put them at risk of losing their funds, and if this happens, they may blame you for your advice or persuasion.
Inexperience and Emotions: Many newcomers to the cryptocurrency market do not have enough experience and knowledge to make informed investment decisions. They may be susceptible to emotions such as fear or greed, which can lead to rash actions and additional losses. Without understanding the basic principles of investing and risk management, their chances of making a successful investment are reduced and the risk of losing their funds increases.
Instead of inviting friends to invest in cryptocurrencies, a more responsible approach would be to teach them the basics of financial planning and investing, and educate them about the risks so that they can make informed decisions and manage their finances on their own.
