I have two friends who I have helped in crypto and at the time I told both of them that they need to listen to what I say or my help is not going to happen. They were both adamant they wanted to copy what I was doing as they felt they had to be involved in crypto and were not happy doing it on their own.
Both of them over the years had lost various amounts of money buying crypto at the wrong times then panicking when the market plummeted and then sold for a loss. This is a very common mistake with retail investors not knowing how things work and only realizing the losses once you have sold. The saying if you play with fire you will get burned is what these two knuckleheads did and they needed help. Buying high and selling low instead of buying low and selling high.
The first friend to get involved did not invest tons of money and was comfortable with a simple $1K investment. The plan was explained to him at the time that this was a long term investment and at some point in the future we will be taking his $1K back out so whatever remains will be profit. This he was happy with as he has never seen profit from crypto. The strategy is very simple as the tax man knows you put $1k into crypto and you take $1K out so there is no realized profit. The rest you will eventually take another off ramp elsewhere depending on the value. His stake has grown over the last year yet his investment value of $1K has been pummeled and is worth less than $100. The good news he is still happy and is not panicking like he would have before and the strategy is staying in place.
The second friend is more of a loose cannon and is very enthusiastic who does not always think before he does things. He has been listening, but has also continued to carry on buying on a regular basis which is also not a bad option. He was up around 40 percent in the first week when he invested and told his Padel friends how great things were going. These days he has learned to shut his mouth as the market has taught him to do so. He would have sold already, but kind of understands more of what is taking place and why he cannot help himself buying more crypto.
Both of my friends bought at different times with both thinking they had bought the bottom of the market only to find out they had not and were not even close. They are in staking projects now with the loose cannon staking last week and is finally seeing his stake grow. He now swears by this is the way to go through earning crypto daily. At least he is keeping quiet not telling his Padel buddies so there is hope.
I would not normally help anyone and try to keep my crypto life private as if things go wrong it is easier to blame someone. They literally begged me for help and even after saying no they pestered me frequently and finally gave into them. With these two I have no worries and know we will turn a good profit due to following a simple strategy. I do not think they could be more shocked on where the market has gone and this is actually a very good lesson to learn that you do not touch your stake especially when you are growing your bag daily. Each day they may have less dollars, but they at least have more crypto which will be worth far more than what they invested as the prices at which they bought were not bad at all.
