My cousin who in time i asked to investment on bitcoin but has always had excuses that he'll invest later, sometimes he tells me that he's afraid to invest his money on the bitcoin due to the potential losses.

He had aslo told me that he's contented with his monthly salaries at then but now he has fall back to me that he's ready to invest because he has lost his job and it's becoming tough for him to meet up with his financial requirements.

I don't really give out advice to invest, I would rather tell them to save up in crypto rather than letting their excess money sit in their bank account.
I would also tell them the pros and cons of it, but I would never introduce crypto as a main source of income, if they would only rely on it, then they are risking their life on the line, not everyone could earn a stable income in trading and if it is their only money then it would be drained by their expenses.

My cousin who in time i asked to investment on bitcoin but has always had excuses that he'll invest later, sometimes he tells me that he's afraid to invest his money on the bitcoin due to the potential losses.
He had aslo told me that he's contented with his monthly salaries at then but now he has fall back to me that he's ready to invest because he has lost his job and it's becoming tough for him to meet up with his financial requirements.

This has someone living a luxurious life without undermining that his job is just temporarynand economy inflations could affect his savings.
Then I reminded him that the bitcoin investment isn't a get quick rich and for an individual who has bills and financial needs to respond to as responsibility, you must have an alternative source of income by which your bitcoin investment can only be fertilexbti yield profits when you invested and doesn't panic it to grow else he may end up selling his bitcoin at lost having me to be blamed.

So I've told him that I'm not involved if he gets to Invest at this time because I know he'd panic over the volatiles of the bitcoin market since he doesn't have  another source by which he can rely on earning income to process his financial needs. The choice is his to decide because if he had alternated his source of earning to bitcoin since I told him, the dividends of his bitcoin assets would had be reliable to him after much he may have made some profits from it. It'd had also served as means of savings and factor to encourage him to be economical with his luxury life which he doesn't have the potential to continuesly afford them

My cousin who in time i asked to investment on bitcoin but has always had excuses that he'll invest later, sometimes he tells me that he's afraid to invest his money on the bitcoin due to the potential losses.
He had aslo told me that he's contented with his monthly salaries at then but now he has fall back to me that he's ready to invest because he has lost his job and it's becoming tough for him to meet up with his financial requirements.

This has someone living a luxurious life without undermining that his job is just temporarynand economy inflations could affect his savings.
Then I reminded him that the bitcoin investment isn't a get quick rich and for an individual who has bills and financial needs to respond to as responsibility, you must have an alternative source of income by which your bitcoin investment can only be fertilexbti yield profits when you invested and doesn't panic it to grow else he may end up selling his bitcoin at lost having me to be blamed.

So I've told him that I'm not involved if he gets to Invest at this time because I know he'd panic over the volatiles of the bitcoin market since he doesn't have  another source by which he can rely on earning income to process his financial needs. The choice is his to decide because if he had alternated his source of earning to bitcoin since I told him, the dividends of his bitcoin assets would had be reliable to him after much he may have made some profits from it. It'd had also served as means of savings and factor to encourage him to be economical with his luxury life which he doesn't have the potential to continuesly afford them

Based on that story, if you have a fixed job then you should save some of your money to emergency funds just in case you lose your job. We don't know what would happen in the future, better be safe than sorry I would say.   If you have affordable money to invest on any investment method out there then go ahead, otherwise please don't you just make yourself worse. Investment is not a quick rich money making method.

That's his first mistake. Investing in bitcoin is not and should not be treated as an actual job. If you want to invest in Bitcoin, it should have happened when he had the stable income. Relying on bitcoin for your daily needs would be a disaster. It's a good choice that you decided not to get involved. Bad decisions after bad decisions.

I noticed this is common behavior. I might also be guilty of the same. Whenever you have a good source of income and you even have extra money, you don't think of making more money. You probably think of spending, of how to enjoy your money. So instead of thinking of how your money would give you more money, you focus on the pleasurable things your money can afford. It's only when your source of income becomes problematic that you scamper looking for other ways to earn. I, too, am battling against this tendency.