Is it proper for one to trade Bitcoin through a trusted friend ?

[Hopila]

Haven't nurturing this idea of trading a Bitcoin in the near future,but one question that's always come as a concern to me is. Is proper for me to trust a friend of that high magnitude ?

[Davidvictorson]

There is a sense of satisfaction and pride that comes with knowing how to do stuff yourself. Something called self-efficacy. Before I go on I want to believe that what you mean is the regular crypto trade and not P2P. What I can say about trading Bitcoin yourself is that you get better through your wins and losses. It is a learning pathway for you. But when you do it through a friend including copy trading which  some may argue is the best, you remain at the beginner trader level for a long time. A total waste of time and resources in my estimation. Trade your Bitcoin yourself through the rigorous process of learning or just hold your Bitcoin.

[Hopila]

There is a sense of satisfaction and pride that comes with knowing how to do stuff yourself. Something called self-efficacy. Before I go on I want to believe that what you mean is the regular crypto trade and not P2P. What I can say about trading Bitcoin yourself is that you get better through your wins and losses. It is a learning pathway for you. But when you do it through a friend including copy trading which  some may argue is the best, you remain at the beginner trader level for a long time. A total waste of time and resources in my estimation. Trade your Bitcoin yourself through the rigorous process of learning or just hold your Bitcoin.

I totally agree with you on this,but the question now is ?

How about one who actually have zero or no knowledge about the crypto but have an interest on investing so as to enable Him grow more weather?

[PhillipDe78]

If a friend is trusted, it is better to use his advice, since he is more experienced in this matter. But at the same time , to understand this area yourself . Sometimes it happens that a reliable friend can use your funds at his discretion, and just lie to you. And you won't even understand that.

[re-start]

I recalled the well-known story of the fisherman. Would you rather buy fish from a fisherman or learn to fish yourself? Expand your knowledge of cryptocurrency. No one is born with perfect knowledge, and learning is a crucial part of human development. Remember that one year of learning and training is more beneficial than blindly investing.

[Eternad]

Haven't nurturing this idea of trading a Bitcoin in the near future,but one question that's always come as a concern to me is. Is proper for me to trust a friend of that high magnitude ?

Nope. Not your keys not your coins is also applicable with your situation. If you didn’t own the private key of the wallet which your Bitcoin save(on this case, your friend) then it’s still risky no matter how trusted your friend is because he/she still a human that is subject to greed.

Exchange and wallets is very easy to create an account. Why you will still choose to have a risk by choosing 3rd party to handle your assets while you can do it by yourself. Anyone can do buy and hold for long term until you get profit.

[SatoPrincess]

There is a sense of satisfaction and pride that comes with knowing how to do stuff yourself. Something called self-efficacy. Before I go on I want to believe that what you mean is the regular crypto trade and not P2P. What I can say about trading Bitcoin yourself is that you get better through your wins and losses. It is a learning pathway for you. But when you do it through a friend including copy trading which  some may argue is the best, you remain at the beginner trader level for a long time. A total waste of time and resources in my estimation. Trade your Bitcoin yourself through the rigorous process of learning or just hold your Bitcoin.

I totally agree with you on this,but the question now is ?

How about one who actually have zero or no knowledge about the crypto but have an interest on investing so as to enable Him grow more weather?

There’s no excuse for this kind of behavior. The knowledge is available for all, you can learn how to trade by watching YouTube videos and reading materials online. There is no reason why you should trust a second party with your funds, many have lost their money to so called professional traders who promise to give them ROI monthly or give paid signals. Don’t fall for the trap, go for the knowledge instead. Here are some articles and links you should read to get started:
Blockchain Books, Bitcoin Movies And Documentaries
https://github.com/bitcoinbook/bitcoinbook
https://bitcoinbook.info/translations-of-mastering-bitcoin
 https://www.coindesk.com/learn

[Bravut]

Firstly, I do not buy the idea of Trading Bitcoin (like a mere coin). Only you can conclude on this, you ascertain how far and well he is in terms of Money from your years of being friends and how trustworthy he is, the truth is money is involved and also issues always arise when it time to share quotas.

Literally, I would advise you learn yourself or better still ask your friend whom I think is good before you thought of entrusting your money to him for lectures.

[Plaguedeath]

I didn't even trust my parents with my money, how can you trust a stranger.

How about one who actually have zero or no knowledge about the crypto but have an interest on investing so as to enable Him grow more weather?

Oh look, another one who think a professional can multiply his money.

If your friend is a professional trader and can make money from it, he will not have to use other people money since he can grow his own money! trading doesn't require huge amount of money, he can start from small, so if your friend give an excuse he can't trade with small amount money, he's not a trader in the first place.

[Hewlet]

There is a sense of satisfaction and pride that comes with knowing how to do stuff yourself. Something called self-efficacy. Before I go on I want to believe that what you mean is the regular crypto trade and not P2P. What I can say about trading Bitcoin yourself is that you get better through your wins and losses. It is a learning pathway for you. But when you do it through a friend including copy trading which  some may argue is the best, you remain at the beginner trader level for a long time. A total waste of time and resources in my estimation. Trade your Bitcoin yourself through the rigorous process of learning or just hold your Bitcoin.

I totally agree with you on this,but the question now is ?

How about one who actually have zero or no knowledge about the crypto but have an interest on investing so as to enable Him grow more weather?

don't mix the two words which are trading and investing. if you're interested in investing then you don't really have to know so much before eventually getting started. As long as you know how to buy your coin ( by coin I 💯 mean Bitcoin), and you've also sorted out the right and safe wallet to use, you don't really need a third party to work you through the whole process. If you're talking about going into trading on the other hand, that's when you will have to talk about directing learning from someone that's already in the system so you will get the needed hands on knowledge.

But in general, having the ability to doing most of your stuff by yourself is the best thing and so you should do the needed research and ensure that you're knowledgeable enough to carry out but trading and investing responsibility all on your own.

[Rockstarguy]

Haven't nurturing this idea of trading a Bitcoin in the near future,but one question that's always come as a concern to me is. Is proper for me to trust a friend of that high magnitude ?

It is not about the trust you have for your friend but understanding things better for yours. The reason why you don't need to rely on the trust you have on your friend is that your friend can't control the market or make things happen the way you want it. You don't have to do things because you trust your friend,  your friend is human which it is possible for him to take wrong decisions that won't go well with you.  I'll advise you whenever it comes to investment never let anybody to convince you to invest without you knowing about what you are putting your money in.

Make research and understand bitcoin because investment in bitcoin is personal,  you need to make decisions yourself. Investment like cryptocurrency you need to be in charge as to take full responsibility of everything.

[dothebeats]

Never really trusted anyone to trade on my behalf for any amount, regardless if they're a close friend, trusted associate, or even a relative. There is always that possibility wherein they will turn their back against me the moment they see that I have that kind of money and they think that I can easily accept the loss. I can trust people in other things but not money, because I have been betrayed by some close friends in the past even with small amounts.

Also, it will be foolish to give out login information to anyone except yourself. They can easily say that the account has been hacked, or that they didn't use the account when funds are lost or the password has changed. There's just a lot of things that could possibly happen that it's best to trade for yourself and never trust anyone with it.

[TheUltraElite]

Haven't nurturing this idea of trading a Bitcoin in the near future,but one question that's always come as a concern to me is. Is proper for me to trust a friend of that high magnitude ?

No No, you dont trust someone to trade your bitcoin with, at least I would not recommend doing it, even if that person is a very close friend or family. Unless they are your parents or your next of kin, even then it is tough to trust someone in this sphere.

You should learn trading on your own and there are immense number of articles and videos to demonstrate the same. This forum is also very helpful if you need to clarify specifics.

Anyone who has access to your wallet private key can spend your coins, please be wary of that. Secure your wallets and never store the coins on exchange wallets.

[peter0425]

It depends how much trust you want to give to your friend. If you plan on letting your friend do trading on your behalf then I’m gonna say that might be a bit too much and you shouldn’t at all do that. However if you are just talking about taking his advices then why not?

Though we can accept some opinions of others, it’s still not recommended to just follow whatever they are saying, we also need to criticize what they are saying and check whether it might be actually the truth.

[Yamifoud]

Haven't nurturing this idea of trading a Bitcoin in the near future,but one question that's always come as a concern to me is. Is proper for me to trust a friend of that high magnitude ?

The question is if he really can be trusted? Or if you really trust this person because if you feel doubt, I suggest not to continue and better choose exchanges instead.

It was not just the TRUST of our main concern but also the confidence we have that this person ( our friend) can really take the responsibility. Many people get fooled by promises and many people lose their money from trusting a person who never knows how to value the trust we give. .

There is no problem with doing this as long as we know ourselves that this person can give us what we expect from him. But despite this, we should not give full control of our funds still, the major decision is coming from us.

[mvdheuvel1983]

Haven't nurturing this idea of trading a Bitcoin in the near future,but one question that's always come as a concern to me is. Is proper for me to trust a friend of that high magnitude ?

There's nothing bad if the op decides to trade  his Bitcoin with his trusted friend if that will be more easier and faster for him but it becomes very risky since the op will expose him self to his friend who may be genuinely interested in doing business with the op at first but at the long run,the friend may decide to attack the op whom he's been doing business with to either get access to the phone or laptop which may lead him to stealing the funds of the op. Bitcoin is privacy, it is not wise to trade with a known person especially someone who knows your place and the things about you imo.

[Frankolala]

Why don't you learn trading yourself, if you feel you like to trade in the future, instead of putting your trust on your friend to trade for you, and you give him all the vital information that he needs to convert your funds to his.

Trust no one with money to help you do business with it, as long as they have the knowledge mote than you, they will take you to be a fool. The fact is why do you want to benefit from something that you don't know and don't want to learn it on your own to be a master of your own. It is better you don't even think of trading if this is what your are thinking about. Everyone will be held responsible for their own actions, so know what you want.

[tranthidung]

Haven't nurturing this idea of trading a Bitcoin in the near future,but one question that's always come as a concern to me is. Is proper for me to trust a friend of that high magnitude ?

What is the role of your trusted friend?

I guess you mean your friend will play as an Escrow service provider between two trade partners that are you and another person. Escrow must be a very trusted entity because money or bitcoin will be kept / escrowed by the Escrow service provider.

If you buy bitcoin, you send fiat to the friend. Your friend confirms with the trade partner that he receives fiat from you. Then your trader partner will send bitcoin to you, and your friend will send fiat to your trade partner. Escrow is a middle man with a role like this.

There are some members with Escrow services in Bitcointalk.

• [Overview] Bitcointalk Services from Bitcointalk Members. Find Escrow service providers there.

[Skfox]

Op trusting a friend isn't out of place, have seen friends turn brothers and do almost everything together but then it's not really advisable in the area of trading or investing. Trading or investing are attached with significant risks that can result to profiting or loosing which one need to settle down to learn and know what method to go about with.

Trading through your trusted friend with a huge money might not be healthy firstly it might expose you to insecurities, secondly sometimes your friend may run loss, let's say one to three times your friend run loss you might start thinking that your friend is stealing or cheating you even when he is honest and you will see gradually how your beautiful relationship will crash.

It's best to learn and know about trading or investing yourself, then work in course of your study with the method that suit you instead of trading hugely through someone else.

[jcojci]

If it is your best friend, you can trust him and trade Bitcoin with him. But if it is someone you just met, you should not trade Bitcoin with him. We have to be careful when trading Bitcoin, especially now that Bitcoin has become more popular and many people are increasingly curious about Bitcoin.

We don't know how safe we ​​are trading Bitcoin with other people, especially people we just met. We should always be careful if we want to trade Bitcoin with other people.