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

[Renampun]

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 very appropriate if you entrust your investment to Bitcoin, there are many benefits that you will get when you make Bitcoin your investment, apart from that, the amount of Bitcoin cannot be manipulated, this is what makes the price continue to increase, Bitcoin is also a decentralized asset so there is a possibility of a rug pull. or scam is zero. bitcoin is the best investment asset right now imo.

[Vinaa77]

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 very appropriate if you entrust your investment to Bitcoin, there are many benefits that you will get when you make Bitcoin your investment, apart from that, the amount of Bitcoin cannot be manipulated, this is what makes the price continue to increase, Bitcoin is also a decentralized asset so there is a possibility of a rug pull. or scam is zero. bitcoin is the best investment asset right now imo.

Entrusting Bitcoin investment to other people is certainly not the right choice because it could be that the people we entrust do things that benefit themselves without telling us or they want to try it and they don't fully understand Bitcoin and don't want to spend capital and make money. The capital that we invest as a means for them to learn will of course be very detrimental if they make mistakes in the investment that we carry out together.
I myself find it very difficult to trust someone in financial matters and if we really want to invest, it would be better for us to prepare ourselves first by studying it after understanding it well, then we can try to invest in Bitcoin.

[michellee]

Choosing Bitcoin as an investment is a good decision, especially if he already has the knowledge and ability to start. But before you sell your Bitcoin to him, you should know whether he is someone you can trust or will only cause problems for you. If it is a close friend who you trust, you can help him start investing in Bitcoin.

You need to teach him more about Bitcoin if he has no knowledge about crypto. Once he knows crypto and can start investing in Bitcoin, he can start immediately and do it himself. You can still guide him and provide other suggestions.

You should direct him to buy Bitcoin from an exchange so he can learn more about the crypto market. He can also understand that the price of Bitcoin will always change and he must be able to prepare himself well. With your guidance, he can avoid common scams and continue investing in Bitcoin without any problems.

[EluguHcman]

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.

In agreeing with you and in further addition, doing it by yourself serves your assets privacies and also foster your personality as an investor an independent one where you are privileged to do it all by yourself without relying on anyone.
Although it is necessary to consult a friend at a point of encountering hard times with your trading but while your friend has also given you the hints, do not take it a 100% to be relied but also consider doing research in comparison to the clues of that your friend because some friends may actually help you at your needy during the trades but with malicious minds of backstabbing you unknowingly to your notice.

[justdimin]

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 ?

"Proper" is such a weird and vague term for this question that I am not even entirely sure what you mean. Like do you mean could you trust your friend? If you have to ask us then the answer is no, if you trusted that friend you wouldn't ask it here. Are you asking if it's profitable? I mean as long as you make the right moves then probably?

There isn't really any "proper" answer to this because the question wasn't phrased carefully and we are not really aware of the situation at all, it's making it a little bit different and difficult. I personally believe that the best thing to move forward with should be something that could benefit you one way or another, I do not think that we are going to end up with anything correct here.

[legendbtc]

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 ?

"Proper" is such a weird and vague term for this question that I am not even entirely sure what you mean. Like do you mean could you trust your friend? If you have to ask us then the answer is no, if you trusted that friend you wouldn't ask it here. Are you asking if it's profitable? I mean as long as you make the right moves then probably?

There isn't really any "proper" answer to this because the question wasn't phrased carefully and we are not really aware of the situation at all, it's making it a little bit different and difficult. I personally believe that the best thing to move forward with should be something that could benefit you one way or another, I do not think that we are going to end up with anything correct here.

I was going to ask OP about this too. If he thinks that his friend is trustworthy, he will not go on social networks to ask for advice from strangers. It's clear that OP doesn't trust his best friend and has been somewhat suspicious ever since he created this thread. So if he wants to take my advice, I'll say "no".

But what I disagree with more is why do we have the mentality of wanting to make money by relying on others when we can do it ourselves? If OP still maintains the view that he can make money by asking his friends to trade for him, it means OP is intending to get rich by relying on others. I believe that if OP maintains this mindset, sooner or later he will join trading signal groups and this will be worse than depending on his friends.

[Hypnosis00]

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 ?

That is an option if your friend deserves for such a level of trust. I know some people are doing this and still doing it well but yes, some also got in trouble due to misuse of funds. I hope you consider this situation and take extra precautions when doing this because when it talks about money, many people are wrong and get tempted by it. But if I were you, I'd rather take the risk of doing it personally because if ever I lose, I know where I am wrong and I could learn something about it. And it is not difficult to accept it than it happens because we let other people do it.

[synchronym]

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.

First of all you have to think about how acceptable the person giving you advice is to you and how much you trust him whether it is your friend or someone close to you will depend on how much you trust him. But when it comes to investing, you must gain enough knowledge about investing. If you gain enough knowledge about investing, then you will understand yourself where you should invest for the long term. But if you are a newbie, of course you should always have a long-term plan in terms of stating your goals.

[Donnard33]

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 very appropriate if you entrust your investment to Bitcoin, there are many benefits that you will get when you make Bitcoin your

[pinggoki]

It is very appropriate if you entrust your investment to Bitcoin, there are many benefits that you will get when you make Bitcoin your

I love your positive outlook in life and how you always see things in rainbows but I have to tell you though, there's definitely people out there that would sell their friend and their soul for money, notice how I didn't mention how much because the amount of money that some people might do it is irrelevant, no matter how much, if greed strikes them, you're going to be in for a world regret and pain from the betrayal. Don't listen to what @Donnard33 has to say, got to understand that you can never fully trust anyone especially with this kind of arrangement, unless they make some really big benefits out of this arrangement, you should probably stay away from doing this kind of thing.

[Mrbluntzy]

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 ?

Trading is not an easy task to do, any time I see some traders trading for other investors and paying them interest, I usually cut cap for those traders because it is not easy. Before you can proceed to allow your friend trade for you, you are to note if they are actually an old experience traders. If your friend is just a normal non fully experienced trader, he may end up to lose your investment to Bitcoin volatility. Know who you are dealing with and their capabilities before you proceed.

[EarnOnVictor]

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 ?

Let me say you aren't clear about this, so my response will be limited to you even though I will try to make it thorough. First, you have to know the difference between trading and investment as some people mistake the two for each other. If it is about investment, why not open your own non-custodial wallet and use your credit cards to move funds into it? Better still, if your country's credit card is having issues with international transactions just like mine due to the scarcity of FX, why not open an exchange account, verify it, send funds into your crypto through P2P and move the money to the self-custody wallet?

For trading, for you to have believed you can entrust your money into the care of your friend to trade for you could mean that you can't do it yourself due to one reason or another. Although I advise people to trade by themselves, after all, they can learn it, this is still not necessary at the same time if you do not have the time or lack interest in it in direct trading, especially when you have a friend that is good at it. But wait, don't just entrust your money into the hands of your friend, ask questions, and let him give you proof that he is a good trader to avoid wasting your money. This is because trading is risky and you can easily lose your money, this happens daily.

This is not the first time a friend will entrust trading money in the hands of another friend, but they often lose the money. You may also go for the various social trading initiatives, they are viable alternatives in case you can't trust your money with a friend. In the social trading arrangement, you will only connect your account to an expert/signal provider account and you will see the account earning or losing for you. This is why you have to learn how this works so that you can research to choose the right service provider account that can be positive to your account.

[Yatsan]

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?

Well investment ideas would be another story to tell. If that's really your purpose then it would be much better for you to prioritize sharing him the knowledge necessary for his crypto journey before his actual engagement in this industry. If you're here in this industry for long then you'd know what I am referring to. We all know how risky Bitcoin is, as an investment. It is just the misconception which pushes maany people here in particular with easy profit ideologies wherein there's no such thing.

Also to mention with pushing a trusted friend to trade Bitcoin, I would also ask why? Especially if he lacks the knowledge. We do understand that you trust him that much but it doesn't really makes sense. What's more likely to happen is for you to suffer from loss and tendency of you questioning this friend of yours.

[Dr.Bitcoin_Strange]

At first, I didn't get the point of what you were saying because you didn't specify whether you were referring to P2P trading or future trading. With the help of what @Davidvictorson said and also your consent to it, I now understand that you are referring to bitcoin trading for a short-term profit. Well, I know that trading not as simple as investing, but I will advise you to learn how to trade and do it yourself. If you have the time to practice trading, do so by yourself. There are a lot of exchanges that offer demo trading features where you can learn how to trade with virtual funds. On a demo account, you can actually practice every trading strategy, learn and master your best trading strategy, which can help you become profitable while trading on a real account. 

[dezoel]

I think we should not trust anyone in case of bitcoin investment because sometimes due to our personal issues they can harm us by applying wrong strategies. It will be better to not trust anyone in this cruel world so you will be free of tension.

You and your friend will be placed in an uncomfortable situation if you were to give him full control of your money and financial decisions. I think it would be okay if you guys had agreed upon a professional relationship but if all you have is a friendly one then it can’t be good. Create a contract specifying the terms and conditions believe me it might be uncomfortable but it will be for the better.

If you do not want to have that kind of pressure in your friendship then learn how to do it on your own.

If we apply the scenario he is thinking about, then we are only the ones who will be uncomfortable but our friend is going to be glad because he can now do a revenge but why will we make such a deal anyway if we knew that we have a personal issue with them? Although we can forget it but we can only hope that they forget it too or they now forgive us and them accepting the deal is a proof to that.

There is also a professional deal like you said there. It's a good idea to have some kind of a contract if there is a huge amount that are involved in the transaction. It helps us to avoid getting screwed by the other party or vice versa.

[Asuspawer09]

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 don't know if I understand it correctly, but the way I understand it is, that it is the proper thing to do to trust your friend with your cryptocurrency.

I always say this as advice for newbies and one thing that I always advise them is, if they are going to invest in cryptocurrency they should do it by themselves and not let anyone invest for them, especially in cryptocurrency where it is a very risky investment, so at this question for me the answer is obviously no even though it is your friend and you trust them you should  never trust them with your investment, in my opinion, this cryptocurrency investment should just be personal, especially when it comes to money.

If you are only asking about having a trade with your friend, I mean just a transaction, it would just depend on how much you trust your friend, personally I wouldn't have any issue trading with a friend like a P2P exchange like converting my Bitcoin into cash something like that, I would probably trust my friend with that transaction, but not to the point where I would let him take my money and trade with it.

[Franctoshi]

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 ?

When it comes to trading generally or precisely trading Bitcoin, It is not something you have to trust someone your money to trade for you regardless of the trust that you have in the person. Bitcoin and crypto is a volatile Market and everyone needs to take the risks involve himself because there's no guarantee in the market,  And besides Op, what stops you from gaining the knowledge? since you have interest in Bitcoin and crypto investment.

[Medusah]

Having a friend as a trading partner for these kinds of deals can be beneficial, but from my experience, it's not always practical.  The issue is that your buying and selling intentions may not align.  If you both are bulls, it's likely that you'll rarely agree on a price.  For instance, when the price surged to $60k in 2021, my friend wanted to sell, but I wasn't interested in buying.

I'd recommend this approach if you have cash and want to buy Bitcoin or if you have Bitcoin and want to convert it to cash without involving banks. 

[Huppercase]

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 ?

Is there a tangible reason why you don't want to trade by yourself? If you are a kind of person with tight schedule, then the best alternative for you is to buy and hold because trading will take most of your time as a day trader but on another thought, will you be trading just Bitcoin or mix with other coins, you can't make a lot of money from trading only Bitcoin unless you have a large capital; just so you know; if Bitcoin made 1% move, you are making $1 profit from $100, $10 on a thousand capital and $100 from $10000 capital, not everyday you get a positive increment on trades, always remember that.

My advice is don't every allow anyone to manage your trades for you because you will never understand if the person made more than what is agreed or made less. If give a person to trade for you, there's risk of your money not coming back especially if you do it with someone you don't know physically so to look for him when he plan on running away with your money, there are too much risk in giving someone your trades.

[Dzwaafu11]

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 don't really know which of the trading you are talking about because we have p2p trading, or you are referring to the normal trading that everyone knows, which is crypto trading? However, if you are referring to the normal crypto trading that everyone knows seriously, I would have said that giving your friend money to trade for you because he knows how to do it better than you will be a big mistake for you. Remember that in trading, both professional and new traders can lose money, and I don't really know how much you trade with your friend, which will make you give him money to trade for you. That is too risky.

Furthermore, trading yourself will be better than giving another person money to trade for you in terms of how you trust them. If you learn and do it yourself, you will be confident in yourself, so I will advise you to learn and trade on your own if you have a passion for putting your money into trading.