Is it proper for one to trade Bitcoin through a trusted friend ? - page 5.

jcojci

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Quote from: coolcoinz on May 30, 2024, 02:36:05 PM

I don't know if OP wants to trade bitcoin with a friend or with the help of a friend, because he said that he wants to trade it "through" a friend and that can mean 2 different things.

If we're talking about selling a friend your bitcoin, it's completely fine, just remember that a friend can also steal from you and stop being a friend, but the money will be gone.
Make sure you check if the money is real and secured before you send him BTC.

If we're talking about your friend helping you trade your BTC, I think that you shouldn't do it. It's an easy task and you can do everything yourself. Don't let others between you and your money.

We have to make sure that it is a friend we trust to avoid problems between us. A good friend will not cause problems for us and will remain a good friend.

Before making a transaction with a friend, we must ask what they want. We can also make sure we have Bitcoin and he also has his money. If everything is clear, then we can make transactions with friends.

Quote from: Mame89 on May 30, 2024, 03:39:49 PM

Actually, this is not recommended even if it is your own friend. Since of course investing in bitcoin is about money, people's minds are very changeable and we will never know. OK, let's assume that currently there is a friend who can be trusted, but we don't know that if bitcoin increases significantly and profits double, he might steal our money or bitcoins. So the risk is very big trusting investments in other people.

The best step is to invest in bitcoin independently, even if you don't understand or don't know how it works but really want to invest in bitcoin, it's better to learn first. And it would be even better if your friends understand how to invest in Bitcoin. Learn with him instead of trusting to trade your bitcoins to your best friend. Apart from that, entrusting your trading to your own friends carries a high risk, you could lose your friend if he makes the wrong investment decision, causing you to suffer a loss.

We can direct him to buy Bitcoin on an exchange if we really don't want to transact with it or have concerns about the safety of the Bitcoin we own or even ourselves. Everything will depend on the situation and conditions at that time so that we can adapt well.

By teaching our friend to buy Bitcoin on the exchange, we can at least open his mind to the possibility of buying his Bitcoin directly on the exchange without us needing to know. He can learn investing or trading after we explain more to him.

khalidkhan82118

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Trusting someone with your Bitcoin is a big decision. It's always good to be cautious, even if it's a close friend. Have you considered using a secure, reputable exchange or wallet for trading instead? What precautions do others recommend when it comes to trading Bitcoin through personal connections?

Fiasem20

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No it isn't proper for someone to trade your bitcoin for you,no matter how much you trust your friend it is never advisable.Why don't you learn and start trading your coin if you have an interest in trading.I don't still get this low mentality people have on themselves,if A can do it,why can't I do it,there are time you challenge yourself.Yeah we know trading is risky,but if you have an interest in trading,the risk, losses are part of the learning process as a beginner.What makes you feel like those experienced traders didn't loss,they did but counted it as nothing and continued till they adopted the best strategy that reduce the losses.

Essential10

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OP, How much you trust your friend is up to you. Since Bitcoin is a digital currency I think you should know all about Bitcoin. See the bitcoin market is always up and down, so if you let your friend trade bitcoins I think you will suffer a loss. Trade is not so easy, if trade and get money then everyone would have become a rich man in one day. I think you can take help from your friend to trade but you should not give your money to your friend to trade. Since Bitcoin is a valuable asset I would suggest that you invest in Bitcoin first, hold. Later if you want to trade and want to earn from it, then learn trading yourself, invest such amount of money that it will not cause you loss.

Rabata

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Quote from: Hopila on May 30, 2024, 08:01:40 AM

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 definitely better if you take your friend's help in learning. But if your friend doesn't keep your faith or fails, you may lose a lot. If you don't want to take the risk then I don't think you should tell your friend either. Because when your assets will be much more, your risk will also increase. If the key of your assets store to someone else, that money is not fully guaranteed. Although your friend may be very loyal. There are many friends who value friendship more than money. They will never betray a friend but we must be careful to stay tension free or for satisfaction and increase our security.

Assface16678

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Well, for me, if it's your trusted friend, then I don't see anything bad about that; it's just that you should have a contract or a written letter that states both of your rules, regulations, and terms, because if something happens to your money, for sure you will not like it, right? So to avoid conflict between both of you and not break your friendship, I think it's better that you two have a proper and legal way of agreeing, because even if you trust him, there's still a risk that if he loses all your money, you will be mad and for sure blame your friend.

And also, don't just rely on your friend; if you want to, you can make him your mentor so that he will teach you things in order to earn through crypto currency, because it's better that you have the freedom to make your move to earn whenever you want to.

Hanadawa

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Quote from: Hopila on May 30, 2024, 08:01:40 AM

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 ?

In my opinion, if it is your close friend then there is nothing wrong with you trying to trust him. But you must always remember the important thing about trust, namely that it is not your keys, it is not your coins, and the most disappointing thing in this world is trusting other people. If you are a beginner who has an interest in investing in Bitcoin, you can try investing in small amounts through your friends. But you have to learn how to trade and store your bitcoins. Because you can't trust your best friend forever. Money can change a person. And I don't want money to ruin friendships.

Dave1

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Quote from: Hopila on May 30, 2024, 08:01:40 AM

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's called P2P, and if you uses exchanges, P2P you might be "safe". However, as the saying goes, "trust no one" here, so it's really up to you whether you can trust your friend specially involving huge amount of money. We all know that throughout human's history, at one point many might be tested and can't be trusted with big money, just saying.

So just be careful if you decided to trade with him. It's only you that can answer if. Maybe just trade with small amounts and see how it goes.

CODE200

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If you're talking about having your friend as the trader for you, the only thing that would matter in that situation would be that you do know how to find this friend, you're close with your friend's family and you have a knowledge of his possible whereabouts, I'm pretty sure that a lot of us trusts our friend but we have to understand that money corrupts everyone, it's just a matter of the amount of money in question. It's not a recommended thing for you to do what you plan to do with your money but if that's the only way, you probably need to cover your bases and make sure that you're not going to end up losing everything because your friend decided to betray you and you don't have any way to find that friend.

BITCOIN4X

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Quote from: barisbilgili on May 31, 2024, 03:40:24 AM

Quote from: bluebit25 on May 31, 2024, 03:33:31 AM

~Snip

When it comes to money, it is very difficult to entrust other people, even your own siblings often make mistakes because of greed.

I also see something strange here even though the exchange service is quite easy to access so we don't need to ask someone to do it.
It's an easy thing to do yourself, especially since it's about money and the future, so I really don't agree with entrusting it to other people.

Not everyone has the same character when you deal with them. Some are trustworthy, others are not. This is a common problem that actually occurs in real life, even money can change an honest person's character into a cheater when they are in a desperate situation.

But there is one thing I want to say. Family or relatives are two important parts of life. Almost all family members can be trusted when it comes to money, but not all relatives can be trusted. If you really want to help someone buy something like bitcoin for them, then you have to be someone they trust so you have to guard that trust carefully.

Quote from: bitzizzix on May 31, 2024, 04:03:22 AM

OP seems to give up easily, trusts easily, and also just wants to be instant without doing anything, and people like you are easily lied to and are far from success.

People who easily trust other people are good people, but it is also a weakness that should be avoided. Don't be too kind and don't trust easily, especially strangers you have just met, but when you can never trust a single family member or relative, then you definitely have the same problem.

bitzizzix

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OP seems to give up easily, trusts easily, and also just wants to be instant without doing anything, and people like you are easily lied to and are far from success.
In my opinion, trading is not an easy job, even if your friend is a trusted and successful trader, can you guarantee that your money will increase and if it doesn't meet expectations, will you accept it? Because trading does not always produce consistent profits, even for those who are experts.
And in my opinion, it's a good idea if your friend is an expert in trading and you really want to trade, you can ask your friend to provide basic knowledge about trading. And you can develop it by looking on the internet and other places to increase your knowledge so that you can do it yourself, and I think that's much better. Because whatever happens, you yourself can feel it and maybe you too can become a successful trader.

And never trust anyone when it comes to trading and investing, and if you want one of these, you have to do it yourself and start by learning on your own until you master it, know the risks and start with small capital.

barisbilgili

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Quote from: bluebit25 on May 31, 2024, 03:33:31 AM

Quote from: Hopila on May 30, 2024, 08:01:40 AM

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'm confused by your problem, exchange services exist in abundance so you can exchange the bitcoins you have.

And if you trust someone, you can ask them to do the transaction for you, but it seems you are skeptical about that situation because you don't have enough trust. I think any situation can happen, from stories in life I have also seen greed that makes even siblings willing to cheat, children cheat on their parents. But there are also many situations where strangers can help without any intention of benefit, after all, that is the situation where the OP will be the one who has the answer for this situation.

When it comes to money, it is very difficult to entrust other people, even your own siblings often make mistakes because of greed.

I also see something strange here even though the exchange service is quite easy to access so we don't need to ask someone to do it.
It's an easy thing to do yourself, especially since it's about money and the future, so I really don't agree with entrusting it to other people.

bluebit25

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Quote from: Hopila on May 30, 2024, 08:01:40 AM

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'm confused by your problem, exchange services exist in abundance so you can exchange the bitcoins you have.

And if you trust someone, you can ask them to do the transaction for you, but it seems you are skeptical about that situation because you don't have enough trust. I think any situation can happen, from stories in life I have also seen greed that makes even siblings willing to cheat, children cheat on their parents. But there are also many situations where strangers can help without any intention of benefit, after all, that is the situation where the OP will be the one who has the answer for this situation.

Kristiyana

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Quote from: Hopila on May 30, 2024, 08:01:40 AM

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 ?

Did you mean that you don't have the idea about bitcoin investment or trading a bitcoin? Because if it is trading is going to take a lot of time before you can understand how it works, but I will advice you don't go into trading because trading has a high level of risk. However trusting someone is very hard mostly when it has to do with bitcoin investment I think is very risky, sometimes will still find it very difficult to trust people around us talk more of a friend, though I don't know how far you both have gone in the friendship and also the level of trust you both built for each other I think you're in the best position to decide.

Reatim

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Quote from: AnonBitCoiner on May 31, 2024, 01:20:09 AM

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.

AnonBitCoiner

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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.

If you know about bitcoin investment then do it yourself and if you don't know anything about Bitcoin investment and are interested then first learn about Bitcoin investment then start it without trusting anyone else.

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Quote from: btc78 on May 30, 2024, 05:39:58 PM

Quote from: Hopila on May 30, 2024, 08:01:40 AM

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 ?

Mate, remember that no matter how close and tight your relationship is with one another he can always betray you.

Never think that people won’t turn greedy and selfish for money even if they are your friend. Just don’t trust your money and investment to the hands of your friend completely. There is nothing better than for you to be responsible of your own profits and losses.

Yes, we will never know for sure about someone's thoughts, especially when it comes to financial matters, it could be that those who can make a profit with the capital we have given them are no longer honest with those of us who have given it to them and it would be better for us not to trust them. completely on other people in terms of finances because everyone can change without us knowing.
In terms of investing in Bitcoin, I think it would be better for us to learn it ourselves if we really want to invest because it is very easy for us to learn, but we have to be patient in every learning process we do.

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Quote from: Hopila on May 30, 2024, 08:01:40 AM

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 ?

Trust no one! This is the primary rule on investment world. Cool

When you are tending neither to hold or trading up Bitcoin and you dont like that other people would be handling it out for you then it would be better to skip with this kind of idea.
Why? We do know that this market is really that volatile and there's no way that someone would be that sure profits. This is why if your friend do make out some assurances that
you could make money then better have those doubts. If you dont like on having those end line regrets then it would be best that you should be making on your own trades or investment decisions on which if ever it would really go south then you wont really be having that kind of regret that you shouldnt have done that.

Trade on your own, lose on your own and having no regrets but if you do trust up your friend with that kind of magnitude then go ahead. Just make it sure that you wont really be that pointing
fingers at him or making that blaming condition at the moment that youre seeing that your money is really that declining on which this is something which is really that very common.

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Quote from: Hopila on May 30, 2024, 08:01:40 AM

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 ?

Mate, remember that no matter how close and tight your relationship is with one another he can always betray you.

Never think that people won’t turn greedy and selfish for money even if they are your friend. Just don’t trust your money and investment to the hands of your friend completely. There is nothing better than for you to be responsible of your own profits and losses.

Z-tight

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Quote from: Hopila on May 30, 2024, 08:01:40 AM

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 ?

If you need someone else to trade for you, then you should not even be considering trading. I know you have seen people online who claim they got rich through crypto trading and maybe your friend seems to be doing well, and you also see him trading, so you believe that is how he gets his money; don't believe everything you see from afar, the reality in the actual scenario may be different.

Take note that you have no business buying BTC right now, because it is so obvious you don't understand a thing about it and you have to get some basic knowledge first, before you talk about either trading or investing in BTC.

Topic: Is it proper for one to trade Bitcoin through a trusted friend ? - page 5. (Read 1063 times)