I don't know if am right or wrong about this.

[Kara3]

Trading of bitcoin has been one of my source of income for quite some time now but find it difficult to tell some other persons to engage in trading because of the risk involved.

Last week a friend of mine saw me trading so he tried to know more about it, at first I never wanted to tell him due to the risk involved, but then based of his persistence I first of all explained to him the difference between spot trade and futures, but I told him I do only spot, how  I buy low and sell high, even as I was explaining it to him I was feeling uncomfortable because of the risk.

 I don't want a situation whereby someone will say that I scammed him if there is a sudden dip in the crypto industry, so I just told him to open a binance account and verify it, after then, he should get back to me so I can send him the hard copy of the crypto course I bought.
Uptil now I still feel uncomfortable about it, I don't know if am wrong or right for opening up, even though I told him of the risk involved.

[BIT-BENDER]

Binance is a centralized exchange that’s my first red flag, decentralized exchange takes away the control from you even in your own funds and also many of them requires Kyc verification which is also an issue on your privacy protection.
Try out so decentralized exchange for trading like Bisq

Truth be told trading isn’t easy it requires critical thinking and if you jump into it hastily you may just be blowing your funds away. The best thing you can do for your friend if he keeps insisting first put a disclaimer let him know that there are possibilities for him to win and also for him to loose and you can help him with some educational instructions.

Here is a good educational instruction on trading.
https://github.com/SpiralDevelopment/Awesome-Crypto-Trading

[Oshosondy]

You have let him know the risks, then teach him. But always warn him and keep on telling him the risks. He should not use more than the amount of money he can afford to lose. For beginners, he should even use small amount of money that is lower than the amount of money that he can afford to lose.

Binance is a centralized exchange that’s my first red flag, decentralized exchange takes away the control from you even in your own funds and also many of them requires Kyc verification which is also an issue on your privacy protection.
Try out so decentralized exchange for trading like Bisq

He is talking about trading, he can only use those exchanges for spot and future trading, especially if it is scalping or day trading which are the riskiest. He can use smart contract decentralized exchanges too, but I will advice him to use centralized exchanges for convenience and more pairs, but he should not leave his coins on the exchanges, I mean the coins that are not used for trading. If he does not want to trade for some days, he should send his coins back to a noncustodial wallet.

[Beparanf]

I don't want a situation whereby someone will say that I scammed him if there is a sudden dip in the crypto industry, so I just told him to open a binance account and verify it, after then, he should get back to me so I can send him the hard copy of the crypto course I bought.

How will your friend accused you of being a scammer when the market dip if he is the one trading his funds. You should explain well all the risk involved on trading and suggest only Bitcoin to buy on spot trading. This way, you will make yourself safe from committing a bad trading advice on newbie by avoiding shitcoin.

Uptil now I still feel uncomfortable about it, I don't know if am wrong or right for opening up, even though I told him of the risk involved.

There’s nothing wrong about it. He is the one who seek on learning trading. Just make sure that you let him trade on his own after teaching the basic. Tell the disclaimer to make you feel comfortable. Probably you didn’t gave him disclaimer that’s why you are feeling this way. Remember that you don’t have any responsibilities on his money.

[bitmover]

 I don't want a situation whereby someone will say that I scammed him if there is a sudden dip in the crypto industry, so I just told him to open a binance account and verify it, after then, he should get back to me so I can send him the hard copy of the crypto course I bought.
Uptil now I still feel uncomfortable about it, I don't know if am wrong or right for opening up, even though I told him of the risk involved.

I wouldn't do that.

Just advice him to buy bitcoin and withdrawal it to a personal wallet such as electrum.
Hols for about 5 years and that is it.

Much simpler and less risky.

Trading is a good way to lose money if you are a beginner.

[jeraldskie11]

Uptil now I still feel uncomfortable about it, I don't know if am wrong or right for opening up, even though I told him of the risk involved.

There’s nothing wrong about it. He is the one who seek on learning trading. Just make sure that you let him trade on his own after teaching the basic. Tell the disclaimer to make you feel comfortable. Probably you didn’t gave him disclaimer that’s why you are feeling this way. Remember that you don’t have any responsibilities on his money.

I think it's not right to let him trade on his own just by after reading the hard copy of trading course that you gave because it's too risky for him since I can feel that he was so greed to do a trade. It's better guide him trade like doing a live trading, letting him asking you a questions about crypto and answer it with all your heart and knowledge along with the trading course. In that way he can build his confident and avoiding one of the biggest risk in trading, a "lack of knowledge".

[pawanjain]

Trading of bitcoin has been one of my source of income for quite some time now but find it difficult to tell some other persons to engage in trading because of the risk involved.

Last week a friend of mine saw me trading so he tried to know more about it, at first I never wanted to tell him due to the risk involved, but then based of his persistence I first of all explained to him the difference between spot trade and futures, but I told him I do only spot, how  I buy low and sell high, even as I was explaining it to him I was feeling uncomfortable because of the risk.

 I don't want a situation whereby someone will say that I scammed him if there is a sudden dip in the crypto industry, so I just told him to open a binance account and verify it, after then, he should get back to me so I can send him the hard copy of the crypto course I bought.
Uptil now I still feel uncomfortable about it, I don't know if am wrong or right for opening up, even though I told him of the risk involved.

If someone really wants to know what it is all about even after knowing all the risk then you should go ahead and tell him about it.
But keep reminding him about the losses you have encountered as well as show him the history of the crypto market.
Make him self aware about the fact that whatever losses he makes will be at his own will and that way you can pass this situation.
If someone really wants to try their luck then we can't help them but let them try it anyway.

[BIT-BENDER]

He is talking about trading, he can only use those exchanges for spot and future trading, especially if it is scalping or day trading which are the riskiest. He can use smart contract decentralized exchanges too, but I will advice him to use centralized exchanges for convenience and more pairs, but he should not leave his coins on the exchanges, I mean the coins that are not used for trading. If he does not want to trade for some days, he should send his coins back to a noncustodial wallet.

Yes that’s true and since no trader has privacy (but for the exception of no kyc required exchanges)then there won’t be any privacy issue. But one thing I can also point out is his friend is a newbie and many newbies aren’t versatile in their research if he starts him with a centralized exchange like binance in trading he may see binance as his go to place even for buying and selling of his Crypto,

but like you said it’s simpler for traders using centralized exchanges also using decentralized exchange has its down side too and one of them is that the conversation fees are very high especially on instant exchanges.

[mindrust]

Trading of bitcoin has been one of my source of income for quite some time now but find it difficult to tell some other persons to engage in trading because of the risk involved.
...

You shouldn't discuss these matters with your friends or family members especially when you are good at what you are doing. Some of them won't believe you, some will get jealous, some will want to learn and mess it up badly... In the end you will have to death with all those different people and it will become tiring. Why spend your energy on them while you can make even more money? In the end your friend will probably not get it right, lose money and blame you for it. Nope. Don't do that. It is best not talk about any money business at all.

[Mr.suevie]

Trading of bitcoin has been one of my source of income for quite some time now but find it difficult to tell some other persons to engage in trading because of the risk involved.

Last week a friend of mine saw me trading so he tried to know more about it, at first I never wanted to tell him due to the risk involved, but then based of his persistence I first of all explained to him the difference between spot trade and futures, but I told him I do only spot, how  I buy low and sell high, even as I was explaining it to him I was feeling uncomfortable because of the risk.

I think its all fine, since you said you have properly explained the risk involved when trading but I guess if am in your shoes I would have snubbed a introduction to trading especially when it crypto trading. The volatility involved in this type of trading increases the risk and human are found of many obnoxious behaviors and like you said it won't be any surprise if he/she eventually turns up and start blaming you when he/she experience losses in the trading classes. I have tried out trading myself but couldn't seem to work for although I was trading on synthetics and I concluded the trading to be one major term which is "advanced gambling" you can never be too sure so I left it and I won't try to convince any one to trading and definitely not crypto trade.

[Potato Chips]

Last week a friend of mine saw me trading so he tried to know more about it, at first I never wanted to tell him due to the risk involved, but then based of his persistence I first of all explained to him the difference between spot trade and futures, but I told him I do only spot, how  I buy low and sell high, even as I was explaining it to him I was feeling uncomfortable because of the risk.

 I don't want a situation whereby someone will say that I scammed him if there is a sudden dip in the crypto industry, so I just told him to open a binance account and verify it, after then, he should get back to me so I can send him the hard copy of the crypto course I bought.
Uptil now I still feel uncomfortable about it, I don't know if am wrong or right for opening up, even though I told him of the risk involved.

Lol. I feel you. Logically speaking, you're not at fault if such situation occur but then again people can be unreasonable during tough times and no one wants that kind of drama in their life.

Honestly, you don't have to do something you're uncomfortable at. They may be your friend but that doesn't mean you'll do whatever they want, no? Try to sit down with them and be honest about your worries - that you feel burdened about the whole thing and would feel some kind of responsibility in case something goes wrong. If they still insist, then just make up an excuse like it's because you're not confident with your knowledge/skills or a flat you're just as newbie as them.

[Zaguru12]

I wouldn't do that.

Just advice him to buy bitcoin and withdrawal it to a personal wallet such as electrum.
Hols for about 5 years and that is it.

Much simpler and less risky.

Trading is a good way to lose money if you are a beginner.

The best idea to advice a newbie coming into cryptocurrency but they wouldn’t aid to that advice because they want to earn on a daily basis and holding doesn’t gives them the profit they want in a short period of time.

Since he insisted I will only advise the OP to teach him the necessarily aspects like the fundamental analysis and the rest. Warn him not to invest money that is huge. It is better he starts with spot trading. Because if you are reluctant to teach him he would take as something. Just guide him through, we might learn from few loses.

[SOKO-DEKE]

Last week a friend of mine saw me trading so he tried to know more about it, at first I never wanted to tell him due to the risk involved, but then based of his persistence I first of all explained to him the difference between spot trade and futures, but I told him I do only spot, how  I buy low and sell high, even as I was explaining it to him I was feeling uncomfortable because of the risk.

 I don't want a situation whereby someone will say that I scammed him if there is a sudden dip in the crypto industry, so I just told him to open a binance account and verify it, after then, he should get back to me so I can send him the hard copy of the crypto course I bought.
Uptil now I still feel uncomfortable about it, I don't know if am wrong or right for opening up, even though I told him of the risk involved.

I don't see any harm in someone who introduces or provides advice about cryptocurrencies to someone who decided learn. sofar you don't collect any money from anyone, I don't think anyone will accused you of being wrong, whether you teach someone short trading or other in thing in crypto industry. But if I were you, I would advise that your friend to start by learning the fundamentals of the cryptocurrency industry as a Newbie to the system. Starting out trading as newbie in crypto industry is not always a good idea, and if he or she is motivated to join the system by the profits others are achieving, I would simply suggest that you tell him/her to purchase Bitcoin and hang hold it for a while in order to be on the safer side of the cryptocurrency market.

[isaac_clarke22]

I don't want a situation whereby someone will say that I scammed him if there is a sudden dip in the crypto industry, so I just told him to open a binance account and verify it, after then, he should get back to me so I can send him the hard copy of the crypto course I bought.
Uptil now I still feel uncomfortable about it, I don't know if am wrong or right for opening up, even though I told him of the risk involved.

Well you already told him the risk involved. It's entirely up to him whether he would trade or not. Not sure how Binance handle unverified accounts these days, but I would suggest to not verify the account of your friend first so he would at least test the waters if trading would be really for him as trading is not really meant for everybody including me. I had my horrible experience trading, although I learned a lot. It is just way of a mental stress for me to handle.

Not sure why would you feel uncomfortable about it, you already told him everything he needed to know before attempting to do trading.

I don't see any harm in someone who introduces or provides advice about cryptocurrencies to someone who decided learn. sofar you don't collect any money from anyone, I don't think anyone will accused you of being wrong, whether you teach someone short trading or other in thing in crypto industry. But if I were you, I would advise that your friend to start by learning the fundamentals of the cryptocurrency industry as a Newbie to the system. Starting out trading as newbie in crypto industry is not always a good idea, and if he or she is motivated to join the system by the profits others are achieving, I would simply suggest that you tell him/her to purchase Bitcoin and hang hold it for a while in order to be on the safer side of the cryptocurrency market.

This is also worth mentioning considering that OP didn't really collect any money from his "friend". There were no other projects involved. Another thing worth explaining to your friend is "why Binance over all other exchanges that you told him?" Surely he would be confused on why you chose Binance.

[Kgdktac]

Trading of bitcoin has been one of my source of income for quite some time now but find it difficult to tell some other persons to engage in trading because of the risk involved.

Last week a friend of mine saw me trading so he tried to know more about it, at first I never wanted to tell him due to the risk involved, but then based of his persistence I first of all explained to him the difference between spot trade and futures, but I told him I do only spot, how  I buy low and sell high, even as I was explaining it to him I was feeling uncomfortable because of the risk.

 I don't want a situation whereby someone will say that I scammed him if there is a sudden dip in the crypto industry, so I just told him to open a binance account and verify it, after then, he should get back to me so I can send him the hard copy of the crypto course I bought.
Uptil now I still feel uncomfortable about it, I don't know if am wrong or right for opening up, even though I told him of the risk involved.

As long as you provided your friend with accurate information and made it clear that there are risks involved, you have done your part in guiding him,

the decision to invest in cryptocurrency or engage in trading should be made by each individual based on their own research and risk tolerance.

you did the right thing by explaining the risks involved from the Start. he'll learn eventually, by education or experience.

[Furious 7]

Well, in this case, it doesn't matter whether it's right or wrong, because of course all decisions come back to your friend.
But on the other hand, apart from talking about the risks, you also have to say that trading, especially being a day trader, is one of the actions that new people cannot do. Because seeing from your story, he is a new person in my opinion so in this case it is clear that it will be very difficult and even likely to be impossible to do.
Actually telling is something very good but for the sake of smoothness it's better to also tell him that he won't be suitable for trading because this besides requiring a strategy, this also requires a much more understanding than that and when just trying it without having the slightest basic knowledge it would just be like suicide.

[stomachgrowls]

Trading of bitcoin has been one of my source of income for quite some time now but find it difficult to tell some other persons to engage in trading because of the risk involved.

Last week a friend of mine saw me trading so he tried to know more about it, at first I never wanted to tell him due to the risk involved, but then based of his persistence I first of all explained to him the difference between spot trade and futures, but I told him I do only spot, how  I buy low and sell high, even as I was explaining it to him I was feeling uncomfortable because of the risk.

 I don't want a situation whereby someone will say that I scammed him if there is a sudden dip in the crypto industry, so I just told him to open a binance account and verify it, after then, he should get back to me so I can send him the hard copy of the crypto course I bought.
Uptil now I still feel uncomfortable about it, I don't know if am wrong or right for opening up, even though I told him of the risk involved.

I dont know but this one feels like on shilling out that crypto course or something or i might really be just that too advanced on thinking or paranoid when it comes to these things.
Lets talk back about that hindrance or the fear of being that getting blamed by someone whenever the market would really be making out some bad move or going against on the position
on what your friend had able to commit out. This is really just a simple problem which you could always tell them that the market is risky, invest and deposit only on the amount which you could afford to lose.
Dont make out some assurance to your friend so that he wont really be expecting something out from those words which it would really be just that simple.
Its not your responsibility if they would be losing up money out of their investment, as long you arent assuring them about on being simple or easy money to make via trading
then i dont really see a thing for you to worry up that much because we know that this isnt how the reality works.

[Lida93]

Trading of bitcoin has been one of my source of income for quite some time now but find it difficult to tell some other persons to engage in trading because of the risk involved.

Last week a friend of mine saw me trading so he tried to know more about it, at first I never wanted to tell him due to the risk involved, but then based of his persistence I first of all explained to him the difference between spot trade and futures, but I told him I do only spot, how  I buy low and sell high, even as I was explaining it to him I was feeling uncomfortable because of the risk.

 I don't want a situation whereby someone will say that I scammed him if there is a sudden dip in the crypto industry, so I just told him to open a binance account and verify it, after then, he should get back to me so I can send him the hard copy of the crypto course I bought.
Uptil now I still feel uncomfortable about it, I don't know if am wrong or right for opening up, even though I told him of the risk involved.

I see you're worried about your friend and you fear he might end up having series of losses and a blown account and which you don't want to have it blamed on you. It's an evidence of a good conscience you possess but the truth is that you ain't doing anything wrong at the moment. You have told him in clear term about the risks involved and he still persist in wanting to learn how to trade. So take him onboard, I believe his interest will drive him to be a good trader eventually.

 My candid advise to you is to make sure to also make it clear to your friend not to put into trading an amount he can't afford to lose. In this way since it's inevitable he  may make losses in the beginning he would only have to consider those losses as part of an experience in his trading journey and wouldn't be affected psychologically by the losses.

You talk about using binance for your trading, hope you understand binance is a centralized exchange and it's risking leaving your money their especially in periods you ain't trading. Why not create a non-custodial wallet where you would have your money stored there only to use it on binance when trading and a return to your wallet after being done with your trade. It's important. I'll want to use this opportunity to introduce to you AgoraDesk, a no KYC exchange platform for your convenience and privacy. You might want to give it a try.

[DoublerHunter]

~snip~
 I don't know if am wrong or right for opening up, even though I told him of the risk involved.

^Open up all the risks that will probably he encounter and let him know the potential losses I think, your friend is not a kid anymore and he has a wise decision too and at least you did not force him to join in trading, and his willingness to join in trading. However, it is commendable that you took the time to educate your friend and provide resources for him to learn more. And, it is up to each individual to weigh the risks and benefits of trading and make their own brilliant decision.

[ololajulo]

There are additional reasons for maintaining confidentiality when it comes to trading cryptocurrency. Firstly, there is a prevailing perception among some that traders who remain invested in cryptocurrency during prolonged bear markets are not perceived as wise or intelligent. Secondly, during bull markets, traders may encounter unwarranted requests for financial assistance, particularly when the widespread awareness and euphoria surrounding cryptocurrency are at their peak.