Finally!! The first person in my family wants to buy Bitcoin

[tequilla_sunset]

Why not DCA? But know that this is 2025. There could be one more bull run but which will likely be followed by bear market that may last for the whole 2026. Invest wisely and let him know how investing during massive bear market can be better.

ABCbits advice is very good. Hardware wallets are very cheap compared to $10000.

DCA is a way to go, or to go lump buying if funds allow that.

We have lots of time before the current sale ends.

[Findingnemo]

It's easier to teach about the wallet and that's the right thing to do as well. But he also should be aware of the downside of Bitcoin which is the volatile nature, and he need to be interested even if the price dumps hard in the short term.

10K is really big amount for a starter so it's really good if he decided to go with that but it should be his decision and also introducing the person to forum will help to gain knowledge about many other things.

[memehunter]

If this 10k is all he got, I will not advise him to invest everything in BTC, it would be foolish. Not only he would not be able to have conviction as he knows nothing about it, but consider the amount of stress he would be feeling if bull cycle hits for a few years. Tell him to make several investments in diverse fields and no investment (no matter how lucrative it may sound) should exceed $1000 (10%).

[electronicash]

its up to you whether you teach him or not. but because he meant to hold, its best to teach him if i were you.

i didn't help my brother to store his BTC in a private wallet but because he also mean to cash out whenever the price is high, i just told him to store it in the exchange where i'm also in such as binance. what i taught him is when to sell and when to buy. somehow we profit, though not big, its still a profit and he gets the idea of how to trade.

[JoyMarsha]

Since it is your brother wants to invest in Bitcoin, I would advise you to calm down and teach him all he needs to know about Bitcoin investment before investing. You know why, Bitcoin is best understood when you are being taught about it. At least you are being lectured on the basic knowledge of it. That will give you the proper idea of what you are going into, whether you can risk your money on it or not.

[milewilda]

Today, I saw my brother and he told me that his son, who works in the grocery business, had heard that Bitcoin had become very popular and its price was rising, and he was thinking of buying some Bitcoin to Hold it.

I was happy to hear this news, even though my family knows I've been involved in Bitcoin for a long time. However, it didn't attract their attention when the price was low. Instead, it attracted their attention when the price was high. This is what happened to many people who missed out on buying early at low prices.

He has about $10,000, and I think he wants to buy Bitcoin with it (that's a lot of money here in my country). The problem is that he doesn't know anything about Bitcoin, nor does he know anything about storing Bitcoin in a non-custodial wallet, or anything like that. So, I'm afraid that if I advise him to buy, he won't be able to store Bitcoin properly, such as by not keeping his seed in a secure place or giving the private key to some scammers, etc.

What do you think? Should I advise him to buy, and what are the basics I should teach him? Or is it better to let him learn on his own and make his own decisions?

As a legendary member neither on this forum or in Bitcointalk then you do really know on what you should gonna do. You wont be able to reach up this rank without having that basic knowledge about it or having having that sensibility on how things works. Whenever you are trying out to tell someone with Bitcoin opportunity or investing then its always been ideal to tell them about the basics and this is the common stuff. Tell him about its decentralize, anonymous,p2p features and also in all regarding about safety of your coins on which its a must thing to consider. The best thing on here is that if he decided to make investment then make it sure that he had some good foundation when it comes to all sorts of things at least and also when it comes to investment decision then its always been best that you shouldnt make out some guarantees on making profits. Its always been that ideal to tell him about the risks involved so that he wont anticipate 100% sure profits.

[|MINER|]

The best thing on here is that if he decided to make investment then make it sure that he had some good foundation when it comes to all sorts of things at least and also when it comes to investment decision then its always been best that you shouldnt make out some guarantees on making profits. Its always been that ideal to tell him about the risks involved so that he wont anticipate 100% sure profits.

Even if we exclude security measures, I cannot say that it is the best idea for someone to invest in Bitcoin during the bullish season. Because the best idea is when an investor starts investing for the long term during the bear season.

But I will not discourage OP's family member from investing in DCA scheme. Because in this case if he starts investing for long-term then risk management can save him from loss.

[SmartGold01]

One thing about investment is that is that they must locates the right state of mind to venture into investments and not following when the market rises before they could make investment, especially newbies invest who doesn't know anything could be that tiring, because if you weren't careful with him and his funds got stolen he wouldn't mind labeling you as someone who took part  of it. At first they should learn about wallet and security, how to buy from exchange and how secure their exchange account as well.

[taufik123]

The first thing you need to do is to provide education in advance on how Bitcoin works and what are the risks that will occur and what are the advantages and disadvantages.
Because laypeople certainly need a good and clear mentor so that they can be sure to put their money in Bitcoin.

It's not about financial advice, but $10k is a huge amount, by doing DCA it would probably be better.
You just need to set the time or what price will be agreed upon to be an initial purchase and do it consistently.

Don't make him study on his own without your direction, because he asks you for help.
As a savvy person and when asking for help from you, you need to point him in the right path so that it won't be a waste to put the money in crypto.

[Mia Chloe]

Today, I saw my brother and he told me that his son, who works in the grocery business, had heard that Bitcoin had become very popular and its price was rising, and he was thinking of buying some Bitcoin to Hold it.

The first thing I'm most concerned about when I find newbies interested in bitcoin investments is actually the level to which they understand how the bitcoin network works and also how much they understand security or their coins.
This is because there is a very high chance they would hate bitcoin if they have the wrong idea about it and worse of all their security was so poor that they got their coins stolen from them. Infact that's one of the most common stories bitcoin haters share.

[Asiska02]

He has about $10,000, and I think he wants to buy Bitcoin with it (that's a lot of money here in my country). The problem is that he doesn't know anything about Bitcoin, nor does he know anything about storing Bitcoin in a non-custodial wallet, or anything like that. So, I'm afraid that if I advise him to buy, he won't be able to store Bitcoin properly, such as by not keeping his seed in a secure place or giving the private key to some scammers, etc.

What do you think? Should I advise him to buy, and what are the basics I should teach him? Or is it better to let him learn on his own and make his own decisions?

I don’t know how you get to learn about bitcoin and how far you’ve come to have known about bitcoin security and privacy. But I am sure if you never had someone to guide you through in your early days, some mistakes (if any) you’ve made in the past wouldn’t have happened and you would have made some decisions that would affect your journey positively about bitcoin. I feel you should guide him through and make sure you teach him how to save and keep his investment in bitcoin in a wallet.

If his savings gets compromised, his attraction to bitcoin will change forever and will only view it as a scam venture even if he may have caused it himself. Put him through as you never can tell how far this favour you’ll do for him will help him in his journey in his investment and personal life. I will also advise he buys decisively and not rush to buy now as we are in a bullish market, a DCA won’t be a bad option to adopt now for him.

[Baofeng]

What do you think? Should I advise him to buy, and what are the basics I should teach him? Or is it better to let him learn on his own and make his own decisions?

Hardware wallet, protect it at all cost, backup the seed and not let everyone knows where he put it and then forget about this investment for at least a whole cycle and see how it goes.

Sounds very aggressive advise though.

But with that kind of money that he is going to put, he will really need a lot of mental toughness as well.

[vegasus]

I also experienced it a few years ago, but it wasn't Bitcoin, but altcoins, XRP, when everything really dropped and chose XRP. and when XRP was skyrocketing a few months ago, he decided not to profit, because he felt it was too old and he was also not so concerned about crypto business. yes, everyone has their own tactics and also some personal considerations that may be different. in this case, yes it is very natural and even very often happens.

but for me too, Bitcoin is still number one, then altcoins, yes, top altcoins I mean.

[bhadz]

Give him some advice based on how your experience on how this market goes. Believe me, it will help them a lot when he is about to buy Bitcoin. It may not be the best time to buy right now because we're still in a bull run but if the goal is about reaching more than $100k then he's still early than the majority of the people that are not yet invested to Bitcoin. The basics are very simple that you should teach him, like the wallets, private keys and all of that.

[CryptoLaila]

Someone about to FOMO, have you told him how his portfolio could go down overtime before rising back,  so that he won't PANIC SELL in future and we won't have to lose another investor to "Bitcoin is a scam "