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

[avp2306]

I agree I think fully entrusting everything to a friend is the mistake here but if you really want to do it then the least you can do is at least try to learn. Maybe get your friend as a guide and use his expertise so you can learn and eventually do it all in your own without the help of anyone.

You are right, of course this is the wrong choice if we completely entrust the investment to other people without understanding this well and I also agree with you that it would be better for us to study well first so that we can really understand it well before choosing. to entrust the funds we have to someone, it would be very good if in the process of learning about investment there was a friend who accompanied us so that he could direct us to do the right thing with the funds we have, because without anyone guiding us in learning Of course this will be difficult to understand and we also have to be very careful with the funds we will invest, don't let us use all the funds we have and leave nothing for the emergency funds we need, of course this will not be able to achieve our investment targets.

Wrong choice to the fact that there's huge money involve in discussion and he might see the true color of his friend if he entrust his funds to his friend just to trade for him. OP should remember that money could expose the real attitude of people so to avoid getting any issue with his friend much better if he decide to trade for his self. Being so lazy will not gonna bring anything good to anyone so if he's really interested to trade bitcoin then maybe he should start to learn on how to do his first trade. Although we know its risky but frequent exposure on trading would provably result into good for him since he could learn a lot from his experience and learnings thru research also thru people discussions about this kind of activities.

To many people got victimized by their what so called friend friend saying that promise that their money or investment is safe with them, but it turns out nightmare to them since those people scam them.

[Bravut]

You asking in the first place OP shows that you don't really trust your investment with your friend, and wouldn't want to trade with him...

There is no rush here, I believe you should learn how to trade yourself with the aid of your friend rather than giving him your Money, this would build your confidence and sense of satisfaction and also build your relationship with your friend because Money,causes misunderstanding, coupled with the risk involved in Trading a volatile Market like Bitcoin so as not to results to any disagreement in the future... Besides for how long are you going to be doing this when you can learn.

[Casdinyard]

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 ?

Depends on the friends that you have. Do you trust them enough with your money? If yes then go for it. If not then go for knowing the ropes by yourself. As what the other guy also said there's a sense of self-satisfaction knowing that you can do shit by yourself without other people helping you out. Then again, I have friends that I can trust enough with my money that I could just trade crypto with them and they wouldn't have a single thought of stealing from me, be it a dollar or a full bitcoin.

You might need some new friends who you can really trust and foster a stronger relationship if you're having second thoughts like that. In any case, always pays to know how processes work by yourself first before you ask for other people's help. Saves you all the trouble of having to wait on a friend to just be available so you can carry on with the process and all that stuff, and saves you the headache of looking for someone to blame when things go south and you lose your money

[Furious 7]

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 ?

If you really want to really understand Bitcoin, it will be more worth it to do it yourself rather than depend on other people.
We can't trust anyone when talking about money or other valuables, including those closest to us, so I think it should be thought carefully if we entrust it to be managed by your friends even though they have a pretty good record.
Even though sometimes this choice will make you a little inconvenient because you have to start on your own because you don't take the quick option by trusting your friends, in the end it will actually be a good thing where you learn from the start about Bitcoin and so that we don't get caught up in it. fomo because he got into bitcoin but didn't know how bitcoin worked.

[DaNNy001]

Well this is actually quite simple for me to answer, well I have a simple principle and that's the fact that whenever it comes to anything relating to money I really don't like getting myself involved with other persons and that's because I have witnessed first hand what the greed of money can do with a man. So in this note , it's probably way best to actually do your things your way and learn from loses and progress yourself other than mixing it up with "friends"

[AmoreJaz]

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 ?

If you really want to really understand Bitcoin, it will be more worth it to do it yourself rather than depend on other people.
We can't trust anyone when talking about money or other valuables, including those closest to us, so I think it should be thought carefully if we entrust it to be managed by your friends even though they have a pretty good record.
Even though sometimes this choice will make you a little inconvenient because you have to start on your own because you don't take the quick option by trusting your friends, in the end it will actually be a good thing where you learn from the start about Bitcoin and so that we don't get caught up in it. fomo because he got into bitcoin but didn't know how bitcoin worked.

There are many ways it can go wrong if you will give this task to a friend, even if we say a trusted/closest friend of yours. So if you think you are not ready to jump into trading because you feel you are still lacking of experience and information, why not try it using small amount of funds? It will give you an idea on how to start this activity, be open to yourself that you can commit mistakes, hence, using small amount of money to begin with.

As time goes by, you will earn confidence of doing this activity. Do take note that long-time traders also started from where you are - a beginner as well. If you will just depend on your friend to execute your trading orders, I don't think you will be at peace with yourself, especially if your friend suffers trading losses. And you can't do anything about it because you let him do the trade for you.

[Kelward]

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 ?

I try as much as possible not to allow monetary issues to come between me and my friends, from my personal experience I wouldn't advice it. If your friend is a very good and experienced crypto trader then let him mentor you, guide you on how to become a professional trader, instead of trading on your behalf. You can not become a real trader if someone else is doing it for you, you can start with demo trading and gradually start to improve your skills before starting actual trading. What if he's making profits and is telling you that he's loosing your money, how will you know without understanding how trading works?

Money can change people so you don't need to totally trust another person with a personalized business like Bitcoin and altcoins trading. You're better off hodling your Bitcoin while you improve your trading skills and do it yourself.

[AprilioMP]

I try as much as possible not to allow monetary issues to come between me and my friends, from my personal experience I wouldn't advice it. If your friend is a very good and experienced crypto trader then let him mentor you, guide you on how to become a professional trader, instead of trading on your behalf. You can not become a real trader if someone else is doing it for you, you can start with demo trading and gradually start to improve your skills before starting actual trading. What if he's making profits and is telling you that he's loosing your money, how will you know without understanding how trading works?

Various conveniences can be found in trading because several large trading platforms already have features that make it easier for people to trade as long as they have sufficient capital.
Of course in theory we can easily say that, but we certainly have another meaning that apart from needing money, knowledge needs to be prioritized rather than handing over money to other people to carry out trades. This is no different from enjoying the profits made by one's own efforts rather than getting big profits from the efforts made by other people.

[fuguebtc]

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 ?

I try as much as possible not to allow monetary issues to come between me and my friends, from my personal experience I wouldn't advice it. If your friend is a very good and experienced crypto trader then let him mentor you, guide you on how to become a professional trader, instead of trading on your behalf. You can not become a real trader if someone else is doing it for you, you can start with demo trading and gradually start to improve your skills before starting actual trading. What if he's making profits and is telling you that he's loosing your money, how will you know without understanding how trading works?

Money can change people so you don't need to totally trust another person with a personalized business like Bitcoin and altcoins trading. You're better off hodling your Bitcoin while you improve your trading skills and do it yourself.

But the problem is that as OP shared, he has no intention of becoming a bitcoin trader in the near future . What he wants is to be able to make money from the market without spending time on it and relying on friends is the solution he is thinking of.

I agree that using money in relationships is very risky because it not only causes us to lose money but can also cause our relationships to fail . Therefore , OP needs to consider carefully when making the final decision . But I think this is the same as when we look for partners and colleagues to do business together, so if OP can take risks and really trust his friend, he can try . In my opinion , the important thing is that we need to calculate the risk, and if we are ready and accept it , we can do whatever we want.

[Roseline492]

Well this is actually quite simple for me to answer, well I have a simple principle and that's the fact that whenever it comes to anything relating to money I really don't like getting myself involved with other persons and that's because I have witnessed first hand what the greed of money can do with a man. So in this note , it's probably way best to actually do your things your way and learn from loses and progress yourself other than mixing it up with "friends"

The experience is very common for most people because sometimes no matter how much trust you would have on someone the moment you trust him with your money that's when you would really no the kind of person he is, so you are right because even me anything that has to do with money I never consider my friends as an option even if I may not really know how they behave towards money because just like the saying that "prevent is always better than cure" Meaning that is better not allowing it to happen than giving a friend a try and later the person start regretting why trusting him, however is better for the person to do his things by himself because sometimes fear of losing is what always hold people back so like you said learning is the best because from the mistake you will be able to perfect yourself.

[dunfida]

Well this is actually quite simple for me to answer, well I have a simple principle and that's the fact that whenever it comes to anything relating to money I really don't like getting myself involved with other persons and that's because I have witnessed first hand what the greed of money can do with a man. So in this note , it's probably way best to actually do your things your way and learn from loses and progress yourself other than mixing it up with "friends"

The experience is very common for most people because sometimes no matter how much trust you would have on someone the moment you trust him with your money that's when you would really no the kind of person he is, so you are right because even me anything that has to do with money I never consider my friends as an option even if I may not really know how they behave towards money because just like the saying that "prevent is always better than cure" Meaning that is better not allowing it to happen than giving a friend a try and later the person start regretting why trusting him, however is better for the person to do his things by himself because sometimes fear of losing is what always hold people back so like you said learning is the best because from the mistake you will be able to perfect yourself.

Trust is something that could really be that depending on someones level of trust that they could have on a certain person on which on the moment that they will really be having that kind of deep trust
towards a certain person even if it means on entrusting money or letting them know about on other things on which it shouldnt be supposed to be known by someone. If we do talk about trading through a trusted
friend then it would be your own choice but the hard part of this one is that full transparency on which we know that we cant really be able to be so sure when it comes to this aspect because when it comes
to money then everyone could really be tempted on making some foolish actions on which some people doesnt even think about those risks of destroying their relationship or friendship that they have been for so long.

We do know that money could really destroy everything on which on the time that greed kicks in, then people wont really be able to think up well on the things that they've been
already affecting other people and this is something that you must really tend to look back and would really be acting accordingly on what are the things that you should do sensibly.
If you could trust up someone then its your choice but be sure to take up some consideration about those probabilities.

[Furious 7]

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 ?

If you really want to really understand Bitcoin, it will be more worth it to do it yourself rather than depend on other people.
We can't trust anyone when talking about money or other valuables, including those closest to us, so I think it should be thought carefully if we entrust it to be managed by your friends even though they have a pretty good record.
Even though sometimes this choice will make you a little inconvenient because you have to start on your own because you don't take the quick option by trusting your friends, in the end it will actually be a good thing where you learn from the start about Bitcoin and so that we don't get caught up in it. fomo because he got into bitcoin but didn't know how bitcoin worked.

There are many ways it can go wrong if you will give this task to a friend, even if we say a trusted/closest friend of yours. So if you think you are not ready to jump into trading because you feel you are still lacking of experience and information, why not try it using small amount of funds? It will give you an idea on how to start this activity, be open to yourself that you can commit mistakes, hence, using small amount of money to begin with.

That is the point that must be realized, especially for a beginner because after all we must be aware that in the end being here doesn't mean we will benefit without the need to know the risks that will be faced, especially when talking about money problems in today's difficult economic conditions, indeed, besides having to be smart in self-control in economic management, we must also be required to always be vigilant so that unexpected things do not happen, including in bitcoin so that what we do does not become a loss and even be deceived by others even though our closest family.  Instead of in the end we only continue to be fixated on what others are doing and hope to take advantage by following it and giving full trust to others to manage the assets we have, of course it will be more worth it if we try ourselves by starting from scratch because it can make you much more able to understand the situation and what you are doing not just being a fomo person .

As time goes by, you will earn confidence of doing this activity. Do take note that long-time traders also started from where you are - a beginner as well. If you will just depend on your friend to execute your trading orders, I don't think you will be at peace with yourself, especially if your friend suffers trading losses. And you can't do anything about it because you let him do the trade for you.

Things like this will appear over time and I agree with what you said because after all we have to realize that the proverb about "experience is the best teacher" is true even though this is only implied because we also cannot just try to have experience because we have to learn first but it cannot be denied that by going directly it is actually much better because you can feel that being in bitcoin is not as easy as imagined.
We must really believe in ourselves and the abilities we have because to achieve a good result, of course, it has a process that cannot be missed. and it would be very naive if we think we will be successful but just keeping our assets we are not able because we only have to depend on others by following what others say without knowing what other people's goals are like because it could be that the goal is only to drain all the assets we have.

[Kelward]

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 ?

I try as much as possible not to allow monetary issues to come between me and my friends, from my personal experience I wouldn't advice it. If your friend is a very good and experienced crypto trader then let him mentor you, guide you on how to become a professional trader, instead of trading on your behalf. You can not become a real trader if someone else is doing it for you, you can start with demo trading and gradually start to improve your skills before starting actual trading. What if he's making profits and is telling you that he's loosing your money, how will you know without understanding how trading works?

Money can change people so you don't need to totally trust another person with a personalized business like Bitcoin and altcoins trading. You're better off hodling your Bitcoin while you improve your trading skills and do it yourself.

But the problem is that as OP shared, he has no intention of becoming a bitcoin trader in the near future . What he wants is to be able to make money from the market without spending time on it and relying on friends is the solution he is thinking of.

I agree that using money in relationships is very risky because it not only causes us to lose money but can also cause our relationships to fail . Therefore , OP needs to consider carefully when making the final decision . But I think this is the same as when we look for partners and colleagues to do business together, so if OP can take risks and really trust his friend, he can try . In my opinion , the important thing is that we need to calculate the risk, and if we are ready and accept it , we can do whatever we want.

Ofcourse the OP can give his experienced crypto trader friend his funds to trade for him and they will decide on how to share the profit and lose. But my concern is that crypto trading is not like the regular buying and selling business where customers buy and you make profit. Cryptocurrencies are volatile and a trader can loose his whole capital in a very short time, that is why I think that it's better for every trader to make their own decisions and accept the outcome of their trades because it's very easy to blame another person for a severe lose. So letting another person to trade for you goes beyond trusting them that they will not scam you, it's also about trusting their trading skills and decisions.

[Baki202]

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.

When you actually do things your self is safer and you will be able to do it every time and you don’t need to bother anyone for directions.  Either regular trading or p2p trading, it is better to just do things yourself for privacy also and that is the reason why they asked everyone to get the knowledge so that you don’t have worry when you even ask people to do things for you. I don’t think anyone should be allowing another person trade for you. The one I know that is very frequent is p2p and those doing that is because they have never ran with their money they would have learned.

When you are trading from the beginning from the option their is no helping anyone to trade, and trading is not owning miners to generate money, you have to put your mind down to learn so that you will be able to do things yourself. Nobody came with the knowledge from heaven so as far as you have interest the best you can do for your self is to learn.

[serjent05]

I am not in a position to tell anyone that @OP's friend is trustworthy or not.  If anyone can say, I think it is @OP because he knows the person and possibly a close one since the title stated that the person to be entrusted with the Bitcoin trade is @OP's trusted friend.

Although I cannot tell whether @OP can fully trust his friend, I can at least say the possibility of getting scammed by people we trusted the most.  In several cases, people change their hue when big money is involved.  I have a first-hand experience where a trusted friend scammed me of my money when he offered an investment and put me on ignore when the time came that I had to get back the money.   

Rather than letting your friend control your fund and trade for you, why not ask him for a signal and do the trading yourself @OP?  You can always tip him some amount if the trade is successful.  This way it is much safer and remove the possibility of your friend turning to a scammer or thief.

[kawetsriyanto]

Depends on the friends that you have. Do you trust them enough with your money? If yes then go for it. If not then go for knowing the ropes by yourself. As what the other guy also said there's a sense of self-satisfaction knowing that you can do shit by yourself without other people helping you out.

Even if we have trusted friends, it is better to do it ourselves. We must believe with our ability, why we must get help from the friends? It is okay to get or share knowledge from the friends, but it is not a good idea to trade Bitcoin through the friends. I've an experience that the the trusted friends turns to be untrusted people when it is related to money, especially a big amount of money. People can change if they know they can get an instant money. Moreover, when they know that we trust them. They will assume that it will be easy to deceive us.

So, the idea to trade Bitcoin through friends, probably leads to an unexpected problem. Remember that people can change their nature because of money! It also can happen to our friends.

Then again, I have friends that I can trust enough with my money that I could just trade crypto with them and they wouldn't have a single thought of stealing from me, be it a dollar or a full bitcoin.

Be careful! Even if they still can be trusted until now, there is no guarantee that they will never do bad things in the future. I suggest you to never using big amount of money, it can motivate someone to steal the money! Friends are human only, they sometimes can make mistakes, too.

[Y3shot]

You asking in the first place OP shows that you don't really trust your investment with your friend, and wouldn't want to trade with him...

There is no rush here, I believe you should learn how to trade yourself with the aid of your friend rather than giving him your Money, this would build your confidence and sense of satisfaction and also build your relationship with your friend because Money,causes misunderstanding, coupled with the risk involved in Trading a volatile Market like Bitcoin so as not to results to any disagreement in the future... Besides for how long are you going to be doing this when you can learn.

If op have a trusted friend and he think they can trade very well, then I see no reason why he should not ask the friend to help him trade or better still he can decide to learn how to trade from him if he like. I have some people trading for others which there is never a problem and things are going well. There is nothing wrong for us to trade for others and if op think that his friend is good enough to trade without losing the trades, then it is  a good offer because it can be a good way to earn while doing other things that will bring money for him.

[reagansimms]

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, never let a third party manage your assets because it will pose risks in the future. Trusting your friend to trade your assets means you also have to hand over your private key to him. This action is not recommended because you have indirectly given other people access to manage your wallet.
Everyone has their own life and different needs, you never know what their life will be like in the future, when they are in a difficult situation, maybe they will take some assets without your knowledge. Do everything independently, an investor certainly understands how to trade Bitcoin without having to ask for help from a third party.

[fuguebtc]

-.-

Ofcourse the OP can give his experienced crypto trader friend his funds to trade for him and they will decide on how to share the profit and lose. But my concern is that crypto trading is not like the regular buying and selling business where customers buy and you make profit. Cryptocurrencies are volatile and a trader can loose his whole capital in a very short time, that is why I think that it's better for every trader to make their own decisions and accept the outcome of their trades because it's very easy to blame another person for a severe lose. So letting another person to trade for you goes beyond trusting them that they will not scam you, it's also about trusting their trading skills and decisions.

Agree with you that cryptocurrency trading will be more risky and losses will occur faster if we miscalculate. But like I said, as long as OP can take risks and is willing to accept the worst case scenario then he can trust his friend. In terms of risks, I believe his friend also mentioned it to the OP and left it up to him to decide.

My point is that it will all depend on how much OP trusts his friend and how much risk OP is willing to take. Because for someone who has no intention of becoming a trader to make money on their own, there seems to be no better solution. But I guess OP doesn't trust his friend as much as I think, because if he really trusted his friend, he wouldn't come up here to ask for our advice  .

[TheUltraElite]

But the problem is that as OP shared, he has no intention of becoming a bitcoin trader in the near future . What he wants is to be able to make money from the market without spending time on it and relying on friends is the solution he is thinking of.

There are people who give their money to a fund manager the latter manages everything for them. This mindset seems wrong to me and hence I trade on my own. However certain people like it and they run it like that too, I am not aware of their profits but I would never advice someone to do that.

In case of the OP, this sounds very much like this group of people. My personal advice is always to learn about bitcoin and trade it on their own. If they are not doing that then they will lose money. I see the point of "not your keys not your coins" has been brought up. Indeed, these stubborn practices of handing over the onus of your own money on someone else's shoulders need to stop.