It is not advisable to trade for people who are not business minded ,by business minded, I mean ,one has prepared his or her mind for profits and losses, knowing that these things are part of business ,
It is not good to put yourself under pressure trying to please people who are not open for the negative side of trading, my advice is that, it is better to be safe than sorry, you might lose a good relationship with them if you trade and make losses so don't venture in such if they are not open minded to see that trading is risky and sometimes making losses is part of the business
Topic: Friends and Family members want me to invest for them, help! (Read 5909 times)
December 27, 2022, 11:33:11 PM
I also think based on your description that they want to point the blame to you if something goes wrong so you only take the responsibility of teaching them and then leave them to choose what they think is good for them.
Very well said. I also think OP should only teach his family and friends step by step how to purchase and store cryptocurrencies properly. There isn't any issue in downloading an exchange app on their smartphones and showing how to deposit fiat to purchase the first amount of crypto. But let the final decision on their hands. Don't press the "buy" button in any hypothesis, and besides bitcoin, don't advise them any altcoins they should hold. Explain the risks and the possible outcomes of crypto market on the next months and years and don't give them any guarantees.It must be very clear to every investors they are the responsible ones for their investments, not the person who presented them crypto universe.
December 27, 2022, 05:45:06 PM
In my country up to 7 people I knew very well ( friends and family ) want me to help them invest money in crypto, after telling them the risk involved and how it will be better if they learn themselves they turn the idea down..
Now they want me to invest their own money on coins and they aren't ready to choose the coins they will like themselves.
After thinking this through and through I started feeling like they are doing this to hold me responsible if something goes wrong.
Is my thoughts right? If you are in my shoes what will you do?
Now they want me to invest their own money on coins and they aren't ready to choose the coins they will like themselves.
After thinking this through and through I started feeling like they are doing this to hold me responsible if something goes wrong.
Is my thoughts right? If you are in my shoes what will you do?
You can demonstrate to them,like a demo of buying each coin they want,buying just one of each of the coins if they ask for new coins which are cheap.After that you tell them the resources where to learn about crypto and you can point them firstly at this very forum for them to read different threads regarding their investments,they will get a rough idea.You can also point them to other sources which can give them a general idea of how cryptocurrencies work.
I also think based on your description that they want to point the blame to you if something goes wrong so you only take the responsibility of teaching them and then leave them to choose what they think is good for them.
to them.I dont have really much time on guiding them every detail and also it would really be depending on my mood whether it would really be that interested on telling them everything or would really be just
seeing that it is really just make no sense on explaining out.I cant really just bare out that if things turns out to be messy then you are the ones whom would really get to be blamed.
Its better not to tell them at all. lol
This is what i do feel too on which it is really just too time consuming and a type of person whose busy and cant really put up much time into other people on explaining things.
Everything could really be read up and be searched through internet which i would say that it would really be just sufficient that they would really be directly making out searches for themselves
and finding out those valuable informations that they are trying to ask out.In speaking about handling their funds then im not a type of person who does really like on
getting blame, so its better that they are the ones who do make on their own.
December 23, 2022, 06:01:11 PM
In my country up to 7 people I knew very well ( friends and family ) want me to help them invest money in crypto, after telling them the risk involved and how it will be better if they learn themselves they turn the idea down..
Now they want me to invest their own money on coins and they aren't ready to choose the coins they will like themselves.
After thinking this through and through I started feeling like they are doing this to hold me responsible if something goes wrong.
Is my thoughts right? If you are in my shoes what will you do?
Now they want me to invest their own money on coins and they aren't ready to choose the coins they will like themselves.
After thinking this through and through I started feeling like they are doing this to hold me responsible if something goes wrong.
Is my thoughts right? If you are in my shoes what will you do?
You can demonstrate to them,like a demo of buying each coin they want,buying just one of each of the coins if they ask for new coins which are cheap.After that you tell them the resources where to learn about crypto and you can point them firstly at this very forum for them to read different threads regarding their investments,they will get a rough idea.You can also point them to other sources which can give them a general idea of how cryptocurrencies work.
Which ever way it turns, act unaffected always ask them to do there investigations as to why the coins are behaving the way they sense it to be and I think, they would gradually get into it.
December 23, 2022, 04:32:29 PM
In my country up to 7 people I knew very well ( friends and family ) want me to help them invest money in crypto, after telling them the risk involved and how it will be better if they learn themselves they turn the idea down..
Now they want me to invest their own money on coins and they aren't ready to choose the coins they will like themselves.
After thinking this through and through I started feeling like they are doing this to hold me responsible if something goes wrong.
Is my thoughts right? If you are in my shoes what will you do?
Now they want me to invest their own money on coins and they aren't ready to choose the coins they will like themselves.
After thinking this through and through I started feeling like they are doing this to hold me responsible if something goes wrong.
Is my thoughts right? If you are in my shoes what will you do?
You can demonstrate to them,like a demo of buying each coin they want,buying just one of each of the coins if they ask for new coins which are cheap.After that you tell them the resources where to learn about crypto and you can point them firstly at this very forum for them to read different threads regarding their investments,they will get a rough idea.You can also point them to other sources which can give them a general idea of how cryptocurrencies work.
I also think based on your description that they want to point the blame to you if something goes wrong so you only take the responsibility of teaching them and then leave them to choose what they think is good for them.
to them.I dont have really much time on guiding them every detail and also it would really be depending on my mood whether it would really be that interested on telling them everything or would really be just
seeing that it is really just make no sense on explaining out.I cant really just bare out that if things turns out to be messy then you are the ones whom would really get to be blamed.
Its better not to tell them at all. lol
December 23, 2022, 09:27:54 AM
In my country up to 7 people I knew very well ( friends and family ) want me to help them invest money in crypto, after telling them the risk involved and how it will be better if they learn themselves they turn the idea down..
Now they want me to invest their own money on coins and they aren't ready to choose the coins they will like themselves.
After thinking this through and through I started feeling like they are doing this to hold me responsible if something goes wrong.
Is my thoughts right? If you are in my shoes what will you do?
Now they want me to invest their own money on coins and they aren't ready to choose the coins they will like themselves.
After thinking this through and through I started feeling like they are doing this to hold me responsible if something goes wrong.
Is my thoughts right? If you are in my shoes what will you do?
You can demonstrate to them,like a demo of buying each coin they want,buying just one of each of the coins if they ask for new coins which are cheap.After that you tell them the resources where to learn about crypto and you can point them firstly at this very forum for them to read different threads regarding their investments,they will get a rough idea.You can also point them to other sources which can give them a general idea of how cryptocurrencies work.
I also think based on your description that they want to point the blame to you if something goes wrong so you only take the responsibility of teaching them and then leave them to choose what they think is good for them.
December 23, 2022, 09:16:18 AM
Don’t invest other people’s money. That’s the sole purpose of trading or investing. If you invest their money and if you won, then they will praise you. But if by chance you lose the money,they will make you cry and make you liable for rest of your life. Trading isn’t guaranteed money, so make them understand the risks involved and tell them to invest their own money with utmost precautions. You should strictly avoid taking their money OP. Just listen to us.
Investing with people's money is very risky that usually ends friendship or relationship with family members. Instead investing with people moneys it is better for them to learn how to trade themselves to take responsibility of every result that it will lead too. Trading with a personal money their is no guarantee their wont no loss . When it comes to trading nobody is perfect to trade with no loss, anything can happen in the market. December 23, 2022, 08:37:39 AM
In my country up to 7 people I knew very well ( friends and family ) want me to help them invest money in crypto, after telling them the risk involved and how it will be better if they learn themselves they turn the idea down..
Now they want me to invest their own money on coins and they aren't ready to choose the coins they will like themselves.
After thinking this through and through I started feeling like they are doing this to hold me responsible if something goes wrong.
Is my thoughts right? If you are in my shoes what will you do?
Now they want me to invest their own money on coins and they aren't ready to choose the coins they will like themselves.
After thinking this through and through I started feeling like they are doing this to hold me responsible if something goes wrong.
Is my thoughts right? If you are in my shoes what will you do?
We all know that crypto Investment is a risky business that requires a lot of caution. Right now in my area,someone is being accused of scam simply because she helped closed friends to invest in a failed crypto investment.
The Investors have refused to listen to her on how she encountered loses during the trading process.
If you really want to help them invest, then you need to let know what is involved in trading both the positive and negative aspects. This way, they won't have to blame you if the investment doesn't yield as they expect.
This is scared of you and the one who gives their money to you but it is really weird that they called him a scammer when they already knew the risk. Unless he is the one asking them to invest money in him because he is a trader and he will get a profit from it. It is the same situation as my high school friend who proclaimed that he can gain profit by trading which at first it is working since it is green days at that time but when the bear days comes a lot of people complained about him and even he was posted in social media with all of his identity.
December 23, 2022, 07:16:14 AM
In my country up to 7 people I knew very well ( friends and family ) want me to help them invest money in crypto, after telling them the risk involved and how it will be better if they learn themselves they turn the idea down..
Now they want me to invest their own money on coins and they aren't ready to choose the coins they will like themselves.
After thinking this through and through I started feeling like they are doing this to hold me responsible if something goes wrong.
Is my thoughts right? If you are in my shoes what will you do?
Now they want me to invest their own money on coins and they aren't ready to choose the coins they will like themselves.
After thinking this through and through I started feeling like they are doing this to hold me responsible if something goes wrong.
Is my thoughts right? If you are in my shoes what will you do?
We all know that crypto Investment is a risky business that requires a lot of caution. Right now in my area,someone is being accused of scam simply because she helped closed friends to invest in a failed crypto investment.
The Investors have refused to listen to her on how she encountered loses during the trading process.
If you really want to help them invest, then you need to let know what is involved in trading both the positive and negative aspects. This way, they won't have to blame you if the investment doesn't yield as they expect.
December 20, 2022, 05:18:49 AM
In my country up to 7 people I knew very well ( friends and family ) want me to help them invest money in crypto, after telling them the risk involved and how it will be better if they learn themselves they turn the idea down..
Now they want me to invest their own money on coins and they aren't ready to choose the coins they will like themselves.
After thinking this through and through I started feeling like they are doing this to hold me responsible if something goes wrong.
Is my thoughts right? If you are in my shoes what will you do?
Now they want me to invest their own money on coins and they aren't ready to choose the coins they will like themselves.
After thinking this through and through I started feeling like they are doing this to hold me responsible if something goes wrong.
Is my thoughts right? If you are in my shoes what will you do?
Well that's what gonna happen if you'll accept what they are asking you to do for themselves. Avoid those kind of people, too lazy to study about cryptocurrency and yet wanted to make profits. Recently a friend of mine asked something similar, he wanted to invest in Bitcoin, particular. I've said he has to study first the basics, at least he will have an idea about how it works, therefore he could avoid sudden panic selling if the market continuous to drop.
He asked if it's possible to lose his money in trading, and I said yes, after that he back down real quick. In short, people who really doesn't know the benefits and advantages of cryptocurrency will always have different mindset (like getting rich overnight, etc.) or they are easy to intimidate.
December 20, 2022, 03:03:01 AM
I wouldn’t do that. It is generally a bad idea to invest for others because it can expose you to significant financial and legal risks. For example, if you make investment decisions on behalf of someone else and those decisions result in losses, the person for whom you are investing may hold you financially responsible for those losses.
December 19, 2022, 12:18:58 PM
Don’t invest other people’s money. That’s the sole purpose of trading or investing. If you invest their money and if you won, then they will praise you. But if by chance you lose the money,they will make you cry and make you liable for rest of your life. Trading isn’t guaranteed money, so make them understand the risks involved and tell them to invest their own money with utmost precautions. You should strictly avoid taking their money OP. Just listen to us.
December 19, 2022, 05:36:49 AM
There are people who are still into investment plans and still run some investment programs.
The truth is you can see this monies as a capital for you to start up your crypto journey if you know what you're doing ad also proficient in it, all you need to do is believe in yourself and get successful in it provided you know what you're doing.
But I see no reasons why they don't want to learn this stuff themselves and now want to get you into buying and investing their coins for them which isn't a nice idea.
I will suggest you get to know their reasons for not wanting to buy this coins by themselves and secondly if you must hold, let them know the consequences and that you will not be hf responsible for any loss.
The truth is you can see this monies as a capital for you to start up your crypto journey if you know what you're doing ad also proficient in it, all you need to do is believe in yourself and get successful in it provided you know what you're doing.
But I see no reasons why they don't want to learn this stuff themselves and now want to get you into buying and investing their coins for them which isn't a nice idea.
I will suggest you get to know their reasons for not wanting to buy this coins by themselves and secondly if you must hold, let them know the consequences and that you will not be hf responsible for any loss.
December 19, 2022, 05:02:21 AM
I think that the best thing to inform them is concerning the risk that's involve via investment, Bec their is no investment that doesn't warrant a risk measure, so if you can be able to educate them of the lost which is involved in investment, i will strictly advice to let know the implication of investment before accepting the offer to invest run an investment for them.
Taking the responsibility of some other person's investment is going to lead you into trouble, this is what I understand. There are things you can teach them and allow them to learn new things about investment but allow them to do this on their own instead of spoon feeding.Assume they lose money, the blame will fall on your shoulders and you will have no place to escape then.
Tough situation when family members get involved. Just make sure you give the disclaimer.
December 19, 2022, 03:23:17 AM
I think that i have come across of this thread before, but nevertheless what i have to portray on this point, is that we all know that it's not encourageable, that we should say directly the truth over trading or any other cryptocurrency investment, cryptocurrency investment is something i believe that with cryptocurrency investment it's very clear that a lot of risk is involved and when asking someone to help in cryptocurrency investment it involves two things either you lose or you gain, so it's encouraging invest by yourself.
Speak directly over the risk involved or the chance of losing money into those family member of yours or relatives which most of them would definitely be losing up their interest on the time they've known that they couldlose money instead of earning easy money which is mostly the thing that they do really have in mind.On the time that they've known about the risk then they do easily get discourage.
Just dont make out some assurances and this is what you should told them from the start about the risk involved and this isnt some sort of easy money thing.
December 18, 2022, 05:48:15 PM
I think that i have come across of this thread before, but nevertheless what i have to portray on this point, is that we all know that it's not encourageable, that we should say directly the truth over trading or any other cryptocurrency investment, cryptocurrency investment is something i believe that with cryptocurrency investment it's very clear that a lot of risk is involved and when asking someone to help in cryptocurrency investment it involves two things either you lose or you gain, so it's encouraging invest by yourself.
Speak directly over the risk involved or the chance of losing money into those family member of yours or relatives which most of them would definitely be losing up their interest on the time they've known that they couldlose money instead of earning easy money which is mostly the thing that they do really have in mind.On the time that they've known about the risk then they do easily get discourage.
Just dont make out some assurances and this is what you should told them from the start about the risk involved and this isnt some sort of easy money thing.
December 18, 2022, 05:18:04 PM
I think that i have come across of this thread before, but nevertheless what i have to portray on this point, is that we all know that it's not encourageable, that we should say directly the truth over trading or any other cryptocurrency investment, cryptocurrency investment is something i believe that with cryptocurrency investment it's very clear that a lot of risk is involved and when asking someone to help in cryptocurrency investment it involves two things either you lose or you gain, so it's encouraging invest by yourself.
December 18, 2022, 04:59:47 PM
My story is that I really didn't get friends who wanted me to help them invest.
My friends already had a small knowledge about bitcoin. I was the only one who was courageous enough to get it.
For a while, some would call me in the dips, thinking that I would be panicked and were surprised when I told them I was still buying. A few got in and most still haven't.
I got me mum in at around $7k. She's hodling and doing quite well.
Admittedly, I was reluctant at first to let her in. I wish I had put gotten her in very early, but I assume that almost every hodler feels that way.
Buying Bitcoin at the early stage is one of the top entry for investors and traders. Getting my friends to know about bitcoin and how the space operates was one of the easiest method, some embrace it, while others were if ignorant and missed their chances of getting pieces of Bitcoin when it was still $7k. But currently regretting why they didn't got into the space when there was still time for them, although it's not late to enter now but now and then are very different because most things in the space have changed. The bear season have be the orders of the day and it's very rare to see altcoins make massive pumps as before. But it's good news that most of my friends are doing absolutely brilliant in the space because gathering knowledge is profitable. My friends already had a small knowledge about bitcoin. I was the only one who was courageous enough to get it.
For a while, some would call me in the dips, thinking that I would be panicked and were surprised when I told them I was still buying. A few got in and most still haven't.
I got me mum in at around $7k. She's hodling and doing quite well.
Admittedly, I was reluctant at first to let her in. I wish I had put gotten her in very early, but I assume that almost every hodler feels that way.
December 18, 2022, 02:59:41 PM
This isn't just about friends and family, this is business... and business entails that your dont mix it with friends and family as the discipline and seriousness of the relationship it deserves will become casual. For me I would request you decline this offer to avoid headaches , but the best you could do is to guide them on how to go on with the whole process and help them choose the right coin and not forgetting to highlight the risks involved with such an investment, GL.
Yeah I recall those saying to never include your closest ones in your circle in business. If you're going to include one in your business, it should be at least outside of who you know in life. Family members are even pain in the ass if they're truly just depending on you solely and what is worse is including money. The only benefits I could think of on having a family and friends is that you would have the same grounds plus possibly supporting each other in the future investments, but I highly doubt that it will even come to that.on what happened into your investment and there's something you cant really be able to counter yet it turns out that it was really that your fault. lol. I do have a bad experience on this one and it is really
much better if you do deal up with other people which arent closest or related to you on which you would really be that comfortable or pretty assure that you wont really be blamed out once
the investment that they do have would be fucked up, unlike if you do deal up with your own family members and relative or friends which is actually the opposite
December 18, 2022, 11:47:10 AM
My story is that I really didn't get friends who wanted me to help them invest.
My friends already had a small knowledge about bitcoin. I was the only one who was courageous enough to get it.
For a while, some would call me in the dips, thinking that I would be panicked and were surprised when I told them I was still buying. A few got in and most still haven't.
I got me mum in at around $7k. She's hodling and doing quite well.
Admittedly, I was reluctant at first to let her in. I wish I had put gotten her in very early, but I assume that almost every hodler feels that way.
My friends already had a small knowledge about bitcoin. I was the only one who was courageous enough to get it.
For a while, some would call me in the dips, thinking that I would be panicked and were surprised when I told them I was still buying. A few got in and most still haven't.
I got me mum in at around $7k. She's hodling and doing quite well.
Admittedly, I was reluctant at first to let her in. I wish I had put gotten her in very early, but I assume that almost every hodler feels that way.
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