Basic thing like not your key not your coin, some of them need to know the best wallet to use to hold their coins for long term, using exchange wallet to hold your coins for long term is not safe for newbies because the owner of the exchange have right to have access to your coins if anything happen that will make the team to withdraw your coins from the exchange, Some of the users that survived here applied patience to become who they are today, which I know newbies can also do the same thing to overcome any challenge that may come their way, for you to recommend anyone to bitcoin, make sure you have seen good results or you have benefited from bitcoin because some people need to see evidence from you before they will believe that you have the knowledge of bitcoin.

The misconception about invest in Bitcoin through my friends and relatives is about the price of Bitcoin to continue going up.

That's true that it shouldn't be said that it will continue to move up because not everyone has a strong heart of acceptance that it's highly volatile.

Because the first impression that they have for bitcoin depends on how they have seen you as the first investor they have known.

If they've seen us that made enough profit, it is what comes to their mind about the #3 that it will continue to go up without having any correction.

I would call it fundamentals investement before investing in bitcoin, it is mandatory for those who want to invest in bitcoin by understanding the 14 points you mentioned, in order to achieve security during investment, although basically someone can learn it after having bitcoin in their wallet, learning while practicing is always the best solution for accelerated understanding.

I would like to add that a fairly important part is also understanding money management and risk management, this will help the rhythm of investing in bitcoin, and of course someone must have a decrisioner income and other things in financial terms should be mature, because if the finances are not stable or the money earned from work is not more than the money needed for living needs, then holding the long term is just a dream, this has little correlation with bitcoin volatility,

I have a friend who invests in bitcoin, understanding how to invest in bitcoin to be safe he is capable, but in basic finance does not have good management, which in the end bitcoin that has been stored in a cold wallet and hoarded for 3 months must be taken back and sold at a loss, because he needs money for his child's school fees.

It's the same with me. A person asked me for advice on which laptop brand and model to buy even he knew that I am not an expert at it. Later he took my advice, even I emphasized that it's only my thinking and I am unsure that with his limited budget for buying not high standard laptop, it can have disadvantage from physical stuffs to operation efficiency later. He actually complained many things later, that makes me feeling very annoying.

The same with investment advice, you only can share basic information, give them advice but practically, they have their own financial and risk management that all decides their investment practice, then profit or loss. Surely it is easy if they have profit but if they have loss, they will complain their loss like because of you.

I disagree a bit with this tip (your other tips are helpful thus I linked your post).

P2P exchanges also can carry risks, and above all new users will probably not know them. For example, you normally expose bank account information to your counterparty, and it's also a danger that you could get in contact either with dubious coins if you buy Bitcoin, or with stolen accounts if you sell.

I will thus add a point to research the risks of P2P exchanges before using them. It is perhaps the best option if you know your counterparties on P2P exchanges from other platforms like forums and can evaluate their trustworthiness. Or buying/selling from established (old) and high-rated accounts, which are extremely unlikely to operate with stolen accounts or dubious coins.

---

Some have recommended to not recommend Bitcoin at all. I can relate a bit to that. But this thread isn't meant to aggressively drive people into Bitcoin, but instead helping them if they are already interested. I will add this clarification to the OP.

This is very true, and another thing about beginners is that they believe in the increase of volatility so much and don't really believe in the decrease in Bitcoin price. Volatility is something that needs to be explained better for beginners; there shouldn't be any misunderstanding of it because the way some people usually think of Bitcoin is not even what Bitcoin is.

Investing small amounts to understand what Bitcoin is about is better; some people are too quick to invest heavily just because of how profitable they think Bitcoin is. Studying the price movement of Bitcoin will really help beginners understand its volatility.

Your neighbours may very well think the exact same thing about you

Bitcoin is still risky and not everyone can be cautious and patient when it comes to bitcoin. Make sure if you venture into bitcoin, you know how to manage the risk and how to manage your losses indeed. Losses will always be possible if you decide to sell at a wrong timing, that's why if possible, do not sell just because there is sudden price increase but sell only when you are seeing a stable price on its top, meaning when bitcoin has already landed into its new all time high.

In addition, bitcoin is intended for long term hodling and retirement, that's why do not waste your bitcoin by selling them for short term and quick profits.

Who doesn't love to see 1 appearance of Bitcoin makes $96k idea. I think everyone loves Bitcoin but they are just mad to admit they failed to realize it is going to be this big. There is nobody that hates Bitcoin like the government but who is sucking Bitcoin titites today? It's the government.

If you want to see if people have interest in a bitcoin, ask them to create a Bitcoin wallet address and it to be sent to you so you can send them $10 worth of Bitcoin, you will be surprised how fast they will set it up and send it to you. I still stand firmly that nobody has zero interest, they only lack what to buy Bitcoin which is money.

I think Average Joe don't care with privacy at all, so good luck for explain point 5 and 7 to them.

If you can convince them to use hardware wallet, it's already a big achievement because people around me that own Bitcoin didn't have hardware wallet.

Hmm so, we have to evaluate someone trustworthiness before we buy Bitcoin when we're supposed "to not trust, verify?" I think we're doomed, more and more we treat Bitcoin like the way centralized site treat Bitcoin.

I think if someone buy Bitcoin without KYC, they have to sell Bitcoin without KYC too, so they don't have to think about scam or illegal coins.