This sounds like a problematic idea anyway. You can teach them how to invest (and learn yourself from credible sources) but I don't think you should invest for them - there's no way they can learn from that either.
Taking the security precautions of 8 people as one person also isn't something you should try to do, what if you end up losing everything because you did something wrong (especially if you're fairly new here).
Investing in coins that aren't btc is also going to be a unnecessary task as you're likely going to lose money..
Topic: Friends and Family members want me to invest for them, help! - page 9. (Read 5917 times)
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?
It can be that they fear they may make mistakes and it can be that they are not ready to take responsibility for those actions. It's you who know better all this.
However, no matter how good you explain, there's a very good chance they'll blame you anyway if something goes wrong.
I would not do this, especially if there are doubts like you've expressed.
If they really want to, you can guide them on each and every step (even by staying behind their back), but doing the actions yourself, ... I don't know...
If you take someone's money and invest it in something, of course you will be responsible or at least partially responsible for everything that happens afterwards. I was in a similar situation in the past and I can say that I regretted telling some people that it would be wise to invest in Bitcoin, because some were careless and lost their backup or were hacked, others invested much more than they could afford to lose...
At the end of the day, they all blame whoever gave them the idea to invest in something like that, so I advise you not to get involved in such things, let everyone be responsible for their money and what they will do with it.
What is even more problematic in your case is that this is not only about investing in Bitcoin, but about which coin to invest in. This is equal to gambling, because there is no doubt that some projects will pay off, but many more will fail very quickly.
At the end of the day, they all blame whoever gave them the idea to invest in something like that, so I advise you not to get involved in such things, let everyone be responsible for their money and what they will do with it.
What is even more problematic in your case is that this is not only about investing in Bitcoin, but about which coin to invest in. This is equal to gambling, because there is no doubt that some projects will pay off, but many more will fail very quickly.
if you have such a feeling, then there is probably a reason and that means you are not sure that everything will end well. In that case, it's better not to.
I would also advise you not to do that, because the probability that something will go wrong is high, and that will surely cause you to be blamed and ultimately bad relations after all. recommend some of the exchanges to them, let them be your referrals and that's all.
in the end, it's their money and they need to worry about it, not you.
I would also advise you not to do that, because the probability that something will go wrong is high, and that will surely cause you to be blamed and ultimately bad relations after all. recommend some of the exchanges to them, let them be your referrals and that's all.
in the end, it's their money and they need to worry about it, not you.
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?
Jump to: