re: My dad wants to invest in crypto

It’s totally fine to invest in crypto. Just treat it as a very volatile high risk investment. Don’t put in any amount you can’t afford to lose. I would not invest more than around 5% of your total investments. I use Coin Base and it’s very easy.

Crypto is more of a trade than an Investment.
Seems to prey on fomo and get rich quickly themes.

As long as he understands the fundamental forces at play here, it could be something he can make a quick buck with but don’t bet the farm….

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1) Go to coinbase.com
2) Create account and go through KYC
3) Connect bank account
4) Transfer USD to your coinbase account
5) Click "buy" next to BTC, ETH, etc.
6) HODL. For real. If he knows nothing about crypto, the volatility will ruin him if he lets it.

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6a) Ask a trusted individual to do a test transaction. After you buy your BTC/ETH, etc. on Coinbase, send him $10 of BTC as an "Ice Breaker" trade, and ask him to return the BTC back to your Coinbase account. It's a good confidence builder and learning experience. It might cost you a couple of dollars in fees but well worth it, IMHO. My first transaction was traumatic. Waiting for a confirmation was torture - all 3 minutes of it.

You should also know that Coinbase may make you wait a few days before you can use your money. You can also talk to a Customer Service rep by phone. They're very good.

Context is probably most important. If your dad is a very experienced investor then he probably understands the deal with crypto from an investment standpoint.

My dad did the same thing probably a year and a half ago. He’s retired and invested his equivalent of fun money. He tracks all financials pretty closely and that includes crypto now. Zero impact on him if it goes to $0.

Is his dad a dumb dumb investor? It’s possible to understand crypto from an investment standpoint without being a blockchain expert. If he thinks it’s a get rich opportunity he should steer clear.

Standard advice either way is do nothing or only put in what he’s willing to lose.

I thought we had a little more time.

Bitcoin is likely going to 100-125k by the end of this year or early 2025. I'd put it at 60-70% chance. Maybe higher than 125k. Do what you want with that info.