Friends and Family members want me to invest for them, help!

[xSkylarx]

Whether such thought should come or not is different story however I would suggest you should stay away from such work. You can teach them about crypto and opportunities available in the space but you should also mention the risks present and let them do it on their own. I think that’s the best thing you can do. Even if they are not happy with your decision then also it’s entirely fine because it could be terrifying later if somehow there is loss in their trade or investment.

indeed sometimes to refuse from close relatives is very difficult to do because it will create a wrong perception, but I totally agree with you friends, it's better to tell more details about crypto, especially about the risks that will occur. it could be that they previously got the wrong information and only knew the benefits without looking at the other influences.
with the risk information that occurs, you can at least avoid the intention to be able to accept it without offending it, without having to reject it.

Refusing your relative is the best idea than accepting it, and later on, you will be saying to them that you've lost their money in a trade (and they will say something bad to you). To prevent this, refuse and try to ask them if they want to learn so that you can teach them but if not, then you have nothing to do with it. Your decision may seem bad for them, but still, in the long run, it will benefit you and them as they will not be losing money, and your self will not be stressing about it.

[Woodie]

This isn't just about friends and family, this is business... and business entails that your dont mix it with friends and family as the discipline and seriousness of the relationship it deserves will become casual. For me I would request you decline this offer to avoid headaches , but the best you could do is to guide them on how to go on with the whole process and help them choose the right coin and not forgetting to highlight the risks involved with such an investment, GL.

[Cling18]

This isn't just about friends and family, this is business... and business entails that your dont mix it with friends and family as the discipline and seriousness of the relationship it deserves will become casual. For me I would request you decline this offer to avoid headaches , but the best you could do is to guide them on how to go on with the whole process and help them choose the right coin and not forget to highlight the risks involved with such an investment, GL.

It will surely cause a conflict later on. You should not be involvedved in the investment of your family and friends. Let them take the responsibility of handling their money and invest them invest on where they're comfortable investing with. You can advise them and give them ideas but you should not invest in them if you don't want it to be the reason for conflicts in the future.

[isaac_clarke22]

This isn't just about friends and family, this is business... and business entails that your dont mix it with friends and family as the discipline and seriousness of the relationship it deserves will become casual. For me I would request you decline this offer to avoid headaches , but the best you could do is to guide them on how to go on with the whole process and help them choose the right coin and not forgetting to highlight the risks involved with such an investment, GL.

Yeah I recall those saying to never include your closest ones in your circle in business. If you're going to include one in your business, it should be at least outside of who you know in life. Family members are even pain in the ass if they're truly just depending on you solely and what is worse is including money. The only benefits I could think of on having a family and friends is that you would have the same grounds plus possibly supporting each other in the future investments, but I highly doubt that it will even come to that.

[goldkingcoiner]

In my country up to 7 people I knew very well ( friends and family ) want me to help them invest money in crypto, after telling them the risk involved and how it will be better if they learn themselves they turn the idea down..

Now they want me to invest their own money on coins and they aren't ready to choose the coins they will like themselves.

After thinking this through and through I started feeling like they are doing this to hold me responsible if something goes wrong.

Is my thoughts right? If you are in my shoes what will you do?

I am not a lawyer nor do I offer investment advice but it seems to me that you are heading towards dangerous territory....

STAY AWAY from investing FOR others! If something goes wrong and somebody loses money, you will be made responsible and you will regret it. Investing in Bitcoin or cryptocurrencies is not hard, its the easiest thing in the world which even a trained monkey could do without help. Show them a youtube tutorial or something.

Worst case scenario, you might even be legally responsible and you could be seen as a financial advisor or be blamed with some other job description else which requires you to have a license from the government.

[mvdheuvel1983]

My story is that I really didn't get friends who wanted me to help them invest.
My friends already had a small knowledge about bitcoin. I was the only one who was courageous enough to get it.
For a while, some would call me in the dips, thinking that I would be panicked and were surprised when I told them I was still buying. A few got in and most still haven't.
I got me mum in at around $7k. She's hodling and doing quite well.
Admittedly, I was reluctant at first to let her in. I wish I had put gotten her in very early, but I assume that almost every hodler feels that way.

[Mahanton]

This isn't just about friends and family, this is business... and business entails that your dont mix it with friends and family as the discipline and seriousness of the relationship it deserves will become casual. For me I would request you decline this offer to avoid headaches , but the best you could do is to guide them on how to go on with the whole process and help them choose the right coin and not forgetting to highlight the risks involved with such an investment, GL.

Yeah I recall those saying to never include your closest ones in your circle in business. If you're going to include one in your business, it should be at least outside of who you know in life. Family members are even pain in the ass if they're truly just depending on you solely and what is worse is including money. The only benefits I could think of on having a family and friends is that you would have the same grounds plus possibly supporting each other in the future investments, but I highly doubt that it will even come to that.

Pain in the ass indeed and even into those closest relative or friends which would really be that too hassle on the time that you do make out some mistakes yet they are the ones who would really be blaming you
on what happened into your investment and there's something you cant really be able to counter yet it turns out that it was really that your fault. lol. I do have a bad experience on this one and it is really
much better if you do deal up with other people which arent closest or related to you on which you would really be that comfortable or pretty assure that you wont really be blamed out once
the investment that they do have would be fucked up, unlike if you do deal up with your own family members and relative or friends which is actually the opposite

[borovichok]

My story is that I really didn't get friends who wanted me to help them invest.
My friends already had a small knowledge about bitcoin. I was the only one who was courageous enough to get it.
For a while, some would call me in the dips, thinking that I would be panicked and were surprised when I told them I was still buying. A few got in and most still haven't.
I got me mum in at around $7k. She's hodling and doing quite well.
Admittedly, I was reluctant at first to let her in. I wish I had put gotten her in very early, but I assume that almost every hodler feels that way.

Buying Bitcoin at the early stage is one of the top entry for investors and traders. Getting my friends to know about bitcoin and how the space operates was one of the easiest method, some embrace it, while others were if ignorant and missed their chances of getting pieces of Bitcoin when it was still $7k. But currently regretting why they didn't got into the space when there was still time for them, although it's not late to enter now but now and then are very different because most things in the space have changed. The bear season have be the orders of the day and it's very rare to see altcoins make massive pumps as before. But it's good news that most of my friends are doing absolutely brilliant in the space because gathering knowledge is profitable.

[GeorgeJohn]

I think that i have come across of this thread before, but nevertheless what i have to portray on this point, is that we all know that it's not encourageable, that we should say directly the truth over trading or any other cryptocurrency investment, cryptocurrency investment is something i believe that with cryptocurrency investment it's very clear that a lot of risk is involved and when asking someone to help in cryptocurrency investment it involves two things either you lose or you gain, so it's encouraging invest by yourself.

[dunfida]

I think that i have come across of this thread before, but nevertheless what i have to portray on this point, is that we all know that it's not encourageable, that we should say directly the truth over trading or any other cryptocurrency investment, cryptocurrency investment is something i believe that with cryptocurrency investment it's very clear that a lot of risk is involved and when asking someone to help in cryptocurrency investment it involves two things either you lose or you gain, so it's encouraging invest by yourself.

Speak directly over the risk involved or the chance of losing money into those family member of yours or relatives which most of them would definitely be losing up their interest on the time they've known that they could

lose money instead of earning easy money which is mostly the thing that they do really have in mind.On the time that they've known about the risk then they do easily get discourage.

Just dont make out some assurances and this is what you should told them from the start about the risk involved and this isnt some sort of easy money thing.

[GeorgeJohn]

I think that i have come across of this thread before, but nevertheless what i have to portray on this point, is that we all know that it's not encourageable, that we should say directly the truth over trading or any other cryptocurrency investment, cryptocurrency investment is something i believe that with cryptocurrency investment it's very clear that a lot of risk is involved and when asking someone to help in cryptocurrency investment it involves two things either you lose or you gain, so it's encouraging invest by yourself.

Speak directly over the risk involved or the chance of losing money into those family member of yours or relatives which most of them would definitely be losing up their interest on the time they've known that they could

lose money instead of earning easy money which is mostly the thing that they do really have in mind.On the time that they've known about the risk then they do easily get discourage.

Just dont make out some assurances and this is what you should told them from the start about the risk involved and this isnt some sort of easy money thing.

I think that the best thing to inform them is concerning the risk that's involve via investment, Bec their is no investment that doesn't warrant a risk measure, so if you can be able to educate them of the lost which is involved in investment, i will strictly advice to let know the implication of investment before accepting the offer to invest run an investment for them.

[TheUltraElite]

I think that the best thing to inform them is concerning the risk that's involve via investment, Bec their is no investment that doesn't warrant a risk measure, so if you can be able to educate them of the lost which is involved in investment, i will strictly advice to let know the implication of investment before accepting the offer to invest run an investment for them.

Taking the responsibility of some other person's investment is going to lead you into trouble, this is what I understand. There are things you can teach them and allow them to learn new things about investment but allow them to do this on their own instead of spoon feeding.

Assume they lose money, the blame will fall on your shoulders and you will have no place to escape then.

Tough situation when family members get involved. Just make sure you give the disclaimer.

[Obari]

There are people who are still into investment plans and still run some investment programs.
The truth is you can see this monies as a capital for you to start up your crypto journey if you know what you're doing ad also proficient in it, all you need to do is believe in yourself and get successful in it provided you know what you're doing.
But I see no reasons why they don't want to learn this stuff themselves and now want to get you into buying and investing their coins for them which isn't a nice idea.
I will suggest you get to know their reasons for not wanting to buy this coins by themselves and secondly if you must hold, let them know the consequences and that you will not be hf responsible for any loss.

[Nrcewker]

Don’t invest other people’s money. That’s the sole purpose of trading or investing. If you invest their money and if you won, then they will praise you. But if by chance you lose the money,they will make you cry and make you liable for rest of your life. Trading isn’t guaranteed money, so make them understand the risks involved and tell them to invest their own money with utmost precautions. You should strictly avoid taking their money OP. Just listen to us.

[BinarySumo]

I wouldn’t do that. It is generally a bad idea to invest for others because it can expose you to significant financial and legal risks. For example, if you make investment decisions on behalf of someone else and those decisions result in losses, the person for whom you are investing may hold you financially responsible for those losses.

[AicecreaME]

In my country up to 7 people I knew very well ( friends and family ) want me to help them invest money in crypto, after telling them the risk involved and how it will be better if they learn themselves they turn the idea down..

Now they want me to invest their own money on coins and they aren't ready to choose the coins they will like themselves.

After thinking this through and through I started feeling like they are doing this to hold me responsible if something goes wrong.

Is my thoughts right? If you are in my shoes what will you do?

Well that's what gonna happen if you'll accept what they are asking you to do for themselves. Avoid those kind of people, too lazy to study about cryptocurrency and yet wanted to make profits. Recently a friend of mine asked something similar, he wanted to invest in Bitcoin, particular. I've said he has to study first the basics, at least he will have an idea about how it works, therefore he could avoid sudden panic selling if the market continuous to drop.

He asked if it's possible to lose his money in trading, and I said yes, after that he back down real quick. In short, people who really doesn't know the benefits and advantages of cryptocurrency will always have different mindset (like getting rich overnight, etc.) or they are easy to intimidate.

[Okereke]

In my country up to 7 people I knew very well ( friends and family ) want me to help them invest money in crypto, after telling them the risk involved and how it will be better if they learn themselves they turn the idea down..



Now they want me to invest their own money on coins and they aren't ready to choose the coins they will like themselves.

After thinking this through and through I started feeling like they are doing this to hold me responsible if something goes wrong.

Is my thoughts right? If you are in my shoes what will you do?

We all know that crypto Investment is a risky business that requires a lot of caution. Right now in my area,someone is being accused of scam simply because she helped closed friends to invest in a failed crypto investment.
The Investors have refused to listen to her on how she encountered loses during the trading process.

If you really want to help them invest, then you need to let know what is involved in trading  both the positive and negative aspects. This way, they won't have to blame you if the investment doesn't yield as they expect.

[xSkylarx]

In my country up to 7 people I knew very well ( friends and family ) want me to help them invest money in crypto, after telling them the risk involved and how it will be better if they learn themselves they turn the idea down..



Now they want me to invest their own money on coins and they aren't ready to choose the coins they will like themselves.

After thinking this through and through I started feeling like they are doing this to hold me responsible if something goes wrong.

Is my thoughts right? If you are in my shoes what will you do?

We all know that crypto Investment is a risky business that requires a lot of caution. Right now in my area,someone is being accused of scam simply because she helped closed friends to invest in a failed crypto investment.
The Investors have refused to listen to her on how she encountered loses during the trading process.

If you really want to help them invest, then you need to let know what is involved in trading  both the positive and negative aspects. This way, they won't have to blame you if the investment doesn't yield as they expect.

This is scared of you and the one who gives their money to you but it is really weird that they called him a scammer when they already knew the risk. Unless he is the one asking them to invest money in him because he is a trader and he will get a profit from it. It is the same situation as my high school friend who proclaimed that he can gain profit by trading which at first it is working since it is green days at that time but when the bear days comes a lot of people complained about him and even he was posted in social media with all of his identity.

[Rockstarguy]

Don’t invest other people’s money. That’s the sole purpose of trading or investing. If you invest their money and if you won, then they will praise you. But if by chance you lose the money,they will make you cry and make you liable for rest of your life. Trading isn’t guaranteed money, so make them understand the risks involved and tell them to invest their own money with utmost precautions. You should strictly avoid taking their money OP. Just listen to us.

Investing with people's money is very risky that usually ends friendship or relationship with family members. Instead investing with people moneys it is better for them to learn how to trade themselves to take responsibility of every result that it will lead too. Trading with a personal money their is no guarantee their wont no loss . When it comes to trading nobody is perfect to trade with no loss, anything can happen in the market.

[swogerino]

In my country up to 7 people I knew very well ( friends and family ) want me to help them invest money in crypto, after telling them the risk involved and how it will be better if they learn themselves they turn the idea down..

Now they want me to invest their own money on coins and they aren't ready to choose the coins they will like themselves.

After thinking this through and through I started feeling like they are doing this to hold me responsible if something goes wrong.

Is my thoughts right? If you are in my shoes what will you do?

You can demonstrate to them,like a demo of buying each coin they want,buying just one of each of the coins if they ask for new coins which are cheap.After that you tell them the resources where to learn about crypto and you can point them firstly at this very forum for them to read different threads regarding their investments,they will get a rough idea.You can also point them to other sources which can give them a general idea of how cryptocurrencies work.

I also think based on your description that they want to point the blame to you if something goes wrong so you only take the responsibility of teaching them and then leave them to choose what they think is good for them.