The Upside of Sharing Your Crypto Journey with Close Family: An Alternative Perspective

Almost a week ago, I read a post advising against sharing your crypto investments with anyone, for any reason, including close family members. I'd like to offer a different perspective, focusing on the psychological benefits of sharing your crypto journey with your close family members (or very close friends). While I agree that we shouldn't be telling just anyone how much crypto we have, there are benefits to sharing our experiences or even our holdings with people close to us:

At our core, we are human beings. We are designed to connect and live within a society. The perceptions of those we hold dear or consider very close have an impact on our lives. We feel good when they feel good about us, and we are happy when they are proud of us. This might not directly benefit them, but it certainly makes us feel better about ourselves.

The 2 main benefits I feel are worth considering are:

• Keeping a secret, especially one that's a significant part of your life, can be stressful. By sharing crypto holdings and your goals with close family members, you can alleviate this stress. You feel better when you're allowed to freely express your excitement, concerns, and thoughts. Everyone has felt the urge to share positive crypto news with friends and family, to let them know what you invested in and how much has it grown.
• Also, when you share your accomplishments with your family, it can provide a sense of validation. This ends up boosting your self-esteem and self-worth, especially when your achievements are recognized and celebrated by your loved ones. It's a nice feeling and you’ve felt it for people you care as well.

About this second point, a study found that 82% of participants hid their successes from others, fearing it might come off as bragging. However, those on the receiving end felt more insulted and distanced when they discovered someone had hidden a success from them. So there is a limit of how much you can hide, especially if you end up buying a Lambo. Sharing also often leads to feelings of closeness.
https://psycnet.apa.org/record/2020-61000-001

SURE, there can be downsides to sharing this information, as pointed out in the original post, I believe that the most important aspect is to set boundaries. For example, if they express interest in investing, it's crucial to emphasize the high-risk nature of the market and that they could potentially lose everything. I believe the psychological benefits are greater than any negative aspect depending on your family (or friends) dynamic.

Have you shared your crypto position with your close family or close friends? Any experiences anyone can share, good or bad?