very salute to you, has helped your father buy bitcoin.
in the last paragraph, the part that amazed me, you helped your father in totality to avoid transactions via credit cards.
I can't say anything but amazing to you. without forcing your parents they come alone and you tell them the risks that will be faced if the value price of bitcoin can be reduced from the beginning of buying (the worst thing that is always faced by btc holders)

Yeah I did tell him that, but he just wants it on Binance for now. I know my dad for a very long time. In all life aspects, he’s a close minded person. When we have suggestions to him from time to time, he never listened ever since we were kids. But at least he never criticizes or stops me from what I am doing because of the success that I have here in this industry.

Like when he runs traditional businesses back then and failed, he never listened to our ideas that would clearly change the game, but he just wants to stick to what he know and wants. It’s like he cover the sides of his face ignoring other suggestions from the other sides, and just focusing on what he is looking on. He doesn’t like to innovate or think out of the box. He’s just sticking what he sees and believes on his own rather than being open.

Same thing for him in buying Bitcoin through Binance. He already knew the risks of losing money. He even lost money around $13k+ for secretly investing in a get rich quick scheme years ago without doing his own research. He’s still having an old school traditional “yesteryears” mindset until now.


Umm not really. He only saw the Binance banner in his iPad and then starting to question me while we were watching basketball. That’s where the convo started, setting up his Binance account, educating the basics, risks in storing between CEXs and non-custodial wallets, etc. But regardless, he just wants me to fully respect his decision to store it on Binance rather than moving it to a non-custodial wallet and understanding the risks.


Unfortunately after registering this account in 2014 and didn’t really understand and listening to naysayers about Bitcoin scam, I ignored my account for more than 3 years and only came back in mid-2017 after Bitcoin touched $10k for the first time. So not really 8 years. More than 5 years to be exact because of my 3+ year inactivity.


Well yes exactly because credit card fees are high. At least when I transfered my USDT from my Binance account to his own account, there are no fees along with converting it to BTC.

The function of son and father really goes well outside of family life, this shows the nature of your father who likes to discuss anything before doing something.
This time the medium for bonding your emotional connection is bitcoin, and I'm sure your father studied bitcoin before discussing with you, Bitcoin has entered into people's lives for now, and it seems that this will continue with other small families in the future.

Cheezcarls will do that absolutely.

He's happier now that his father is into bitcoin and actually holds bitcoin. It's part of his guidance to his father on how he's going to hold and keep the private keys.

I'm sure that he's not going to let his father down with those possible frauds or anything related to scams or phishing because he's already aware of those and will surely guide him.

This is a great decision actually as your father aims to invest first his money rather than just saving it plainly in a bank. And definitely, when the market is bearish, it will always be a good entry in crypto investments. I just hope OP that you will continue to guide your father and expose him on the negative side of crypto investments so that he will not be a naive on that. And by making DYOR most of the time, your father will never end up in wrong decision making that will make him lose his investments.

interesting story, I ma sure that your dad is one of the people who are open-minded about recent technology developments. Well, investing in Bitcoin may not be a choice for everyone, but if someone is deciding to invest in Bitcoin, they also need some bravery to take the risks, because we know that invest in gin Bitcoin is also risky.
I wonder from who he got Binance, probably he every found you with the app.
But, as long as you have been educating him about crypto investment and also the management of funds and others, this seems like to be a very good beginning. Nothing wil be worthier exepct we are leanrig at first more to be in th ecyrpot industyr.

I'm not understanding the following:

- at binance you didn't verify your account? and in this account verification process you did not provide proof of address? if yes, now your father has a binance account, how will he verify his binance account since the proof of address you already delivered? I just want to understand this part

- and another point: if your father intends to do hodl and not day trade, why does he keep coins in binance and not in the wallet that would be safer?


with so much popularity of bitcoin, nowadays it's normal that in a house everyone has bought bitcoin, people even do exhaustive research to maximize profits, that's why this OP story doesn't surprise me

As his father becomes more experienced in crypto matters I believe he will be more positive about Bitcoin. The deeper the loyalty, the more conscious he will be of holding more bitcoins in the face of the bitcoin crisis. At the same time, he can give ideas about this to his close friends or relatives, so that Bitcoin will spread rapidly around the world.

I assume that your father is not too old to learn about internet finance which at least requires basic skills to operate electronic devices in non-native languages. Unlike parents in some parts of the world, where it's impossible to teach bitcoin basics overnight (my parents included).

I quite appreciate your father's will and I hope he will always listen to your advice on what to do next with his funds (he seems to be stubborn, lol).