Post
Topic
Board Bitcoin Discussion
Re: Is it proper for one to trade Bitcoin through a trusted friend ?
by
Yatsan
on 02/06/2024, 14:56:52 UTC
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.