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

[JISAN]

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?

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.

Risk will always be there.

We just need to manage it correctly and do our stuff wisely, especially investing.

Investors are always cautious if the financial aspect is managed seriously. Everyone wants to invest in Bitcoin if he understands Bitcoin well.  op shared a story where one of his family members became interested in investing in Bitcoin. This is very admirable as they are worried about their bright future.  And they understand how important Bitcoin is to the future

[Lucius]

Be that as it may, I would still advise him not to invest his entire savings in BTC, especially not at a time when the price is this high. It's not that I'm giving financial advice, but maybe it would be wise to wait for a new bear market or try some experiments with the DCA method and invest a little every month.

Yes, it's still a family matter. They don't know much about Bitcoin, but they do know that it's still illegal here in my country, so I don't think any of them will take it outside the box.

It's true that the price of Bitcoin is currently high, but looking at it from a different perspective, the local currency here in my country is still losing value against the dollar. Therefore, I expect it won't make much of a difference if he buys it now, given the long-term decline in the value of the local currency.

I will explain all of this to him, and he will be the one to make the final decision.

In that case, it's good that you can be of help, because many people rush in without thinking carefully about what they're doing. From my own experience, a lot of people have a completely wrong idea about what investing in BTC is, but I think it's much better to be completely honest with people about it.

Some will eventually give up, but those who are serious will be much more confident about what they are doing. The most important thing is to tell people that what they are doing is not someone else's responsibility but theirs - in other words, if something bad happens, they should not look for the culprits in the people who tried to help them.

[gunhell16]

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 think you need to give him advice, especially if he didn't ask for your advice, unless he asked you for advice. Just let him do what he wants, it's like what you
did when you created a way to learn bitcoin, because if you were able to learn bitcoin on your own, then he can do it too.

If he asks questions, just answer what he wants to know regarding bitcoin or cryptocurrency where we are now.
But if you initiate, that's not a good action, just for me.

[Faisal2202]

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?

Don't panic you don't have to take that much care of his money, as you don't have to be responsible for anything, you can just give him the best advices you have and give a disclaimer that I am giving you this advice because you wanted, I am telling you the best ways to hold BTC but if you still find some phishing scheme and gave your phrase to anyone, or did anything stupid at all.

I am not responsible, just share the basic knowledge like what is centralization and decentralization, custodial and non custodial wallets, exchanges, how to sell and but it, what is the importance of seed phrase or private keys. This would be more than enough to make him beleive that he actually own the funds and you don't have anything in it for you, then he will be responsible for whatever he will do.

[yhiaali3]

because if you were able to learn bitcoin on your own, then he can do it too.

If he asks questions, just answer what he wants to know regarding bitcoin or cryptocurrency where we are now.
But if you initiate, that's not a good action, just for me.

Of course, anyone can learn Bitcoin, but it takes time. It's also best to have a trusted person teach you the right things about Bitcoin.

Since he trusts me and asked me, it's best for me to teach him the most important things I know about Bitcoin and explain the risks. Then, let him make the decision himself.

[taufik123]

Since he trusts me and asked me, it's best for me to teach him the most important things I know about Bitcoin and explain the risks. Then, let him make the decision himself.

You've done the right thing by providing them with the education they need to know, so they know what to do and what the risks and benefits are.
If you don't do that you will probably feel guilty when your siblings log into bitcoin without knowledge and they end up getting bad things when they start logging in, this will be a bad impression.

When you have provided basic knowledge and what to do and what not to do, then your task is done.
You only need to decide whether to start investing or not, it is a personal decision.

But in my experience you will still be tied to your family when one of them suffers a loss in crypto,
because you are the foundation as someone who already understands crypto beforehand.