Referrals and why you should be careful with it.

[Rruchi man]

These days, networking has been made easier with social media, where you can easily make a referral, and people on your contact list take it seriously based on the level of trust and reliability that they have for you.

If you make a referral and people who follow it are satisfied, their level of confidence and trust in you increases, and they value you more.

There is a need to be careful about the referrals you make, because some referrals are capable of ruining your image and the trust that people will have in you.

I have seen people question why bitcoin is still the first choice that is referred to new people in cryptocurrency who want to invest, and one reason for that is that bitcoin can be relied on when compared to other cryptocurrencies, especially the new ones, and you don't want to gamble with your referrals.

I know we always have to advise people to do their own research for any referral given to them, but still, you do not want to give someone a referral on some altcoin just for them to do their own research and find out that they just dodged a bullet.

Do not just refer to any cryptocurrency; refer to bitcoin when introducing a newbie to cryptocurrency.

Subsequently, you can introduce them to other altcoins with  good reputation already.

[famososMuertos]

First of all, I agree, recommending any kind of investment is complicated, even bitcoin, in fact it is very complicated.

As for social media, there is a "disease" of promoting for views, and that is something you should not fall into, I have seen ordinary people talking about bitcoin as if it were the same as buying a "smart phone."

There is a belief in the community that Bitcoin has to be recommended, and that is not the case. Perhaps talking about our experience is the best thing to do, and if it has the effect of recommendation, it is the responsibility of that third party.

[bitterguy28]

sometimes it would even be best if we do not make much referrals to other people personally i do not want to concern myself with how others will do with what i have given them i am aware that crypto is risky and volatile and not everyone can get it right the first time so if i introduce crypto to someone and it doesn't work out for them i do not want to be the one to blame

[0t3p0t]

sometimes it would even be best if we do not make much referrals to other people personally i do not want to concern myself with how others will do with what i have given them i am aware that crypto is risky and volatile and not everyone can get it right the first time so if i introduce crypto to someone and it doesn't work out for them i do not want to be the one to blame

Yeah same here I don't want pointing fingers ever again because it happened to me once when I encourage my friends to come into crypto and it didn't work well for them and I felt guilty for that. That is why this time I no longer initiate such encouragement nor refer anyone here in my place to jump into crypto for that reason.

[EluguHcman]

I can not afford to condemn other cryptocurrencies because I dwell my confidence on investing in Bitcoin but though it is good to refer anyone who is interested to invest in the crypto on the coins you as a referral is already invested on so that you can always share updates such as market trends with the person as a beginner he/she may be.

But then, you can also point out some food Altcoins for the person and then let them go for their own research to pick their desired coins.
It is not compulsory that newbies must begin their crypto investments on Bitcoin and we should remember that we are only referrers and not to convince them.
Already, it is best for any beginner to firstly hold on to Bitcoin while hovering around to other the Altcoins based on their highily volatile which is unlike Bitcoin being less volatile to be compared. Hence talking about reputability, Bitcoin is a most recommended but it is usually an individual decisions to decision what coin to invest on after affirmed mentioned of the recommended coins.

[Fivestar4everMVP]

Well, speaking in general terms, op is absolutely right and I completely agree, atleast, I've had several typical experiences where I refer some of my friends to invest in some Altcoins I have high regard or trust on, which I too have invested heavily on as well, but at the end of the day, price went down way below their entry price, and that made me feel very bad because I felt I disappointed them.

Bitcoin is always a sure plug, one where anyone can hardly lose money if they are patient enough, but then, reason why I don't usually recommend investing in bitcoin to some friends is if and when they are coming into crypto through me, and the money they want to invest is very small, like let's say $50 or less, I usually will prefer them to invest such amount in a good Altcoin, but before then, I usually let them know the risk involved in investing in Altcoins, and as well as Bitcoin, then they make their choice themself, this way, even if I myself feel bad that the investment has not turn out the way I thought it should have, they themselves wont blame me cus I warned them of the risk involved with investing in Altcoin, and they choose to themselves.

[Yamane_Keto]

Not only that, but also because the price of most altcoins is affected by the price of Bitcoin, as the rise or fall in the price of Bitcoin affects them, so investing in Bitcoin is better than many altcoins except in certain cases.

[Vx1]

sometimes it would even be best if we do not make much referrals to other people personally i do not want to concern myself with how others will do with what i have given them i am aware that crypto is risky and volatile and not everyone can get it right the first time so if i introduce crypto to someone and it doesn't work out for them i do not want to be the one to blame

Yeah same here I don't want pointing fingers ever again because it happened to me once when I encourage my friends to come into crypto and it didn't work well for them and I felt guilty for that. That is why this time I no longer initiate such encouragement nor refer anyone here in my place to jump into crypto for that reason.

When we invite lay people to enter Cryptocurreny, then we must be ready for all the consequences. I have experienced this, wanting to invite people to enter Cryptocurreny but instead saying bad things about crypto. Finally, since then I have rarely invited people, unless they ask me then I will give what I can do.

[yhiaali3]

Yes, referrals have become much easier than before with the spread of social media and the presence of many friends in our contacts, whether on Facebook, X platform, Telegram, or others.

Personally, I feel fully responsible when I think about inviting some friends to refer because they trust me, and therefore I must be worthy of this trust and not refer them to fake or fraudulent investments. Of course, as for investment, Bitcoin is the best option, but when it comes to some free airdrops, there is no problem with referring because the coins are free here.

[SamReomo]

I have told many people about Bitcoin but at the same time I also told them that they should do their own research before taking any financial decision.

I personally prefer Bitcoin over other altcoins as a better investment option but surely I do have investment in some altcoins that have been performing well for me.

I believe we should always try our best to tell newbies about Bitcoin instead of potential altcoins because Bitcoin is safe and much reliable than those altcoins.

[TomPluz]

If you make a referral and people who follow it are satisfied, their level of confidence and trust in you increases, and they value you more. There is a need to be careful about the referrals you make, because some referrals are capable of ruining your image and the trust that people will have in you.

So my question is this: why refer at all? When we meet somebody who might be interested with cryptocurrency, the best thing to do is to tell that person to just Google all the things he wanted to know or better yet tell him/her to be a part of this forum and maybe add some warning that there are many possible risks in this industry along with rewards that is why one must be carefull all the time. There is no need to refer anyone to a specific project or platform but if one will insist then just share to look for the top 10 coins and tokens in the CMC and choose what can be best for the person's circumstances. We are already swimming with a lot of information and they are available in a single click, as long as one has internet connection. And we are not anymore in the first five years of the cryptocurrency era...millions have already heard on cryptocurrency and they are exposed on it from time to time all because even the mainstream media is already tracking this industry for good.

[Zed0X]

I thought you were using the word wrong because I was used to referrals as someone signing up through your ref link Anyway, yeah, I think it's a standard among crypto investors who already learned the ropes not to just suggest some random tokens but there will still be few who would take advantage of newbies' ignorance. There are a lot of crypto gurus on social media that only appears during a bullrun but they don't care because they're anonymous.

[Captain Corporate]

I understand that its goingto end up being something not so awesome but referrals do end up being a big part of crypto world as well. We need to realize that its going to take a bit of a time for people to trust every link they see, its not like we are going to be commonly getting that, but that also doesn't change the fact that Binance became what it is today by offering %50+ rates for referrals. Obviously they realized they can't afford that forever and made it much smaller later on when they became big, but first they offered huge referral amounts to everyone so it would be possible to get people. So while some are risky, its also very common in this market.

[robelneo]

Do not just refer to any cryptocurrency; refer to bitcoin when introducing a newbie to cryptocurrency.

Subsequently, you can introduce them to other altcoins with  good reputation already.

Its important to all who wants to get involved to Cryptocurrency to start with Bitcoin I always recommend this to newbies and to also read Satoshi Nakamoto's whitepaper and his history to fully understand the concept of Cryptocurrency.
You cannot fully comprehend what Cryptocurrency is if you skip the important lesson of Bitcoin and Cryptocurrency, altcoins are alternative coins so we have to go through the original first before the others.

[SmartGold01]

Do not just refer to any cryptocurrency; refer to bitcoin when introducing a newbie to cryptocurrency.

Subsequently, you can introduce them to other altcoins with  good reputation already.

Its important to all who wants to get involved to Cryptocurrency to start with Bitcoin I always recommend this to newbies and to also read Satoshi Nakamoto's whitepaper and his history to fully understand the concept of Cryptocurrency.
You cannot fully comprehend what Cryptocurrency is if you skip the important lesson of Bitcoin and Cryptocurrency, altcoins are alternative coins so we have to go through the original first before the others.

Yes you are right going through the original documentation is much more better for people that are wanting to dive into bitcoin investment. Sometimes most investors jump into market due to how people are hyping those coin especially from their community because they are ones who keeps flooding various social medias to attract attention to people to come investment so they could cash out big time