Quote from: fuguebtc on Today at 10:12:11 AM

Quote from: Kelward on Today at 08:30:38 AM

Quote from: Hopila on May 30, 2024, 12:01:40 PM

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.