How to convince your friends to invest in crypto?

Between bankruptcies, crypto scams, bear markets, and legal hurdles, 2022 has undoubtedly been a disastrous year for crypto. Do you still have the guts to introduce Bitcoin to your friends?

Crypto has never been so hyped, but its image has never been so negative. To believe a CNBC investigation, only 8% of Americans view crypto positively. Similarly, the percentage of Americans unfavorable to cryptocurrencies rose from 25% in March to 43% in December. Finally, 18% of Americans (compared to 31% in March) I don’t know what to think about crypto assets.

So now might not be the best time to convince your friends and family to step into the crypto world. By the way, how was your Christmas dinner 2022? Have you dared to look straight in the eyes of those you believedbuy bitcoins in 2021?

If like us, you haven’t given up, you probably know that no matter what bear market, the potential of cryptos, NFT and some Challenges remains unlimited. So, do you still have the guts to convince your friends and family about it?pour in in crypto? Here is the user manual.

Start at the beginning

First of all, you have to understand that even though crypto has been in the headlines this year, most people don’t really know what it is. Annual survey Crypto Literature Surveywhich invites people to take a quick cryptolingo quiz/Web3discovered that the vast majority of participants does not include cryptocurrencies. In fact, 91% of respondents could not answer more than 60% of the questions.

Similarly, the percentage of testers with a good rating increased from 4% in 2021 to 9% in 2022. However, those who passed the test are likely already interested in cryptocurrencies. So the “crypto illiteracy rate” is probably much higher than you think.

If you are not the cousin of Satoshi Nakamotoit is unlikely that everyone in your family will know this liquid staking where consensus mechanisms. In order not to scare them, start with the most famous cryptocurrency in the world: Bitcoin (BTC). “It’s the cryptocurrency that most people know”says Ryan Hansen, chief marketing officer at Liquid Mercury.

Also take the time to explain to them why we need alternatives to fiat currencies. “Start by explaining why currencies, such as the US dollar, lose their purchasing power as central banks issue notes; the benefits of direct control over your funds; and why crypto is more accessible to people who don’t have a bank account,” advises Ryan Hansen.

Customize your tokens

What if your aunt doesn’t believe in the theory of “Big Government” and doesn’t worry about the collapse of central banks? Tailor your arguments to her situation and make your advice relevant to her.

“For example, if you have a friend who works in the restaurant industry, it would be ideal to show them how blockchain can help track orders, inventory and food preparation,” says Anton Giuroiu, CEO of ArchitectureLab. “If your partner is a travel agent who deals with a lot of last-minute cancellations, they would be very interested to know how smart contracts can help solve this problem.”

As a crypto-geek, you know that blockchain makes it possible to tokenize assets, improve the quality and speed of our video streams, and provide transparency in crowdfunding, among other things. Some of your friends will be more stubborn than others, but one thing’s for sure: you won’t be short of arguments.

Give them a taste of crypto

A few years ago, you never thought for a second that you would change your BlackBerry. With its small keyboard, its rounded shape, simple and reliable operating system, BlackBerry had something to attract the most demanding users.

However, when you tried the iPhone or Android touchscreen, you immediately fell in love. The moral of the story is that it’s hard to convince anyonepour in on a product or service he has never tried. This applies to games and movies as well as cryptos.

“Offering free crypto has always been a sure fire way to turn on the haters,” says Brian David Crane, Founder and CEO of Spread Great Ideas. “I have gifted tokens to my friends and family to introduce them to the crypto world. In most cases, I gave away the free tokens I earned airdrops. So it didn’t cost me much. Airdrops are also a great way to do it earn money to others by encouraging those who learn how does crypto work

For his part, Andrew Gayton, NFT/Web3 advisor at GODA, had a brilliant idea to encourage his friends to pour in in crypto. When Bitcoin was around $500, he held a fantasy football contest promising to win 1 BTC for the champion. At the time, no one was interested. “I couldn’t convince them,” he says. “However, when the price of Bitcoin went above $2,000, some of my friends contacted me to help them. pour in in crypto”.

You certainly can’t convince everyonepour in in crypto and you don’t have to either. But who knows? Years later, some of your friends may thank you for helping them get rich.

Disclaimer

All information on our website is published in good faith and for general information purposes only. Any action taken by the reader based on the information found on our website is entirely at his own risk.

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