How To Discuss Crypto Investing With Family & Friends?

Conversations with family members about topics such as investing can be tricky to navigate so proceed with caution. Cryptocurrency is a new investment vehicle and presents great opportunities and risks, just as any other investment would. But there is no denying that crypto can no longer be ignored and brushed off as some fleeting trend. The goal here is to start the conversation and not necessarily try to win anyone over to your way of seeing things. Think of it as an information-gathering activity where you’re trying to gauge their level of interest and plant the seed.

Here are a few ways to bring up crypto investing with family and friends.

Current Events – Almost every single day in the news you will hear about some company entering the Metaverse or a celebrity NFT drop. Using current events is a great way to engage your loved ones on the topic by bringing it up in casual conversation. This will allow you to get their thoughts on the subject without probing too much so the conversation evolves in an organic way. For example, “The Ukrainian government raised over 40 million dollars using crypto. What do you think about crypto being used for humanitarian efforts?” Or “Both JP Morgan and the NFL have mentioned setting up shop in the Metaverse? Does any of this mean anything to you? Do you care about this at all?”

Family Meeting – Instead of a one-on-one conversation, approaching several family members and/or friends in a group could be more advantageous by saving you the time of having to reach out to them individually. Setting up a discussion in this manner can take the pressure off you and everyone else since it’s a topic being discussed with the broader group.?If you have a regular family meeting just add it to the myriad of other topics discussed in the general meeting. If you don’t have a standing meeting just create a one-off family meeting. Use it as an opportunity to reconnect and then segue into the conversation on crypto. I have a monthly family meeting via Zoom with my cousins. I used that forum to discuss it with my family and found this to be very effective.

Educational Approach – Training them or showing them the inns & outs can build trust and confidence. You could say something to the effect of “I think there are some great opportunities with cryptocurrency. I would like to show you how it works, when is a good time to chat this week?”Crypto can be intimidating, in the beginning. One of the main reasons people are reluctant to invest is because they don’t know how it works, or they don't know how to navigate the tools or systems in the crypto space. Taking the initiative to schedule a time with the person to work one-on-one shows that you care. That you are willing to go above and beyond by doing something as simple as, walking them through setting up their wallet or showing them how to buy on a crypto exchange.

Success Stories – Sharing stories of families or individuals who made significant gains with crypto. Everyone loves a winner. There are countless stories of the life-changing money people were able to make in a relatively short period of time with crypto investing. One caveat is not to oversimplify the results these people have achieved; or make it seem as if everyone in crypto is having massive wins. Keep it balanced and focus on the possibility of achieving similar results rather than the expectation of the same exact results. Note: If you google Shiba Inu Millionaire you will find several articles or search Shiba Inu Millionaire on YouTube several videos will pop up.

No matter which tactic you use, the most important is to begin the conversation. Things move quickly in the crypto world. Being positioned as a family or a collective of friends can allow each party to leverage information like a mastermind and become better prepared for the future of finance.

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