"What should I tell someone who asks me if they should buy Bitcoin?"

We've all been in this spot at one point or another. A friend, a relative, a colleague, our girlfriend's boyfriend - someone we know that is close to us - asks us about crypto and wants to know if they should buy Bitcoin, or any of 'those other coins'. So what do you tell them, and what should you actually tell them? Do you have a strategy?

Like with most things, the truth is always your best bet. In fact, it's wise to let them know that there are both pros AND cons to making the leap, and help them to know what those are before they ultimately decide for themselves if investing in (or even using functionally) crypto coins is something they'll choose to do. Here's a little guide of points to help you relay this information. Hope this helps!

PROS:

1. Potential for growth: Bitcoin and cryptocurrency have been known for their high volatility and potential for substantial gains. Some investors view Bitcoin as a speculative investment, hoping to capitalize on price fluctuations and profit from the potential for price appreciation.
2. Decentralization: Bitcoin operates on a decentralized, peer-to-peer network, which means that it operates without the need for a central authority or intermediaries. This can offer advantages in terms of privacy, security, and control over one's funds.
3. Innovation: Bitcoin was the first decentralized cryptocurrency and is seen as a pioneer in the field of digital assets. It is an innovative technology that has the potential to disrupt traditional financial systems.
4. Diversification: Including Bitcoin in a diversified investment portfolio can potentially reduce overall portfolio risk and increase returns.
   

CONS:

1. Volatility: Bitcoin and cryptocurrency are known for their high volatility, which can lead to rapid price fluctuations. This can result in substantial losses for investors who buy at the wrong time or hold their investments for the wrong duration.
2. Risk of loss: There is no guarantee that you will make a profit from investing in Bitcoin, and there is a risk of losing all or a significant portion of your investment.
3. Regulation: The regulation of cryptocurrency is still developing and is not yet fully established in many countries. This can lead to uncertainty and risk for investors.
4. Lack of understanding: Bitcoin and cryptocurrency can be complex and difficult to understand, especially for those with limited knowledge of technology or finance. It's important to thoroughly research and understand the market and the technology before investing.
5. Security: Cryptocurrency is stored in digital wallets, and if the wallet is lost or hacked, the funds can be lost forever. Additionally, there have been instances of exchanges and platforms being hacked, which can result in the loss of funds for users.
6. Limited acceptance: Bitcoin and cryptocurrency are not yet widely accepted as a form of payment, which means that there are limited opportunities to use them in everyday