Say NO! It’s very risky putting yourself in that situation. You may not know it but you’re taking responsibility for his bitcoins and his money, for someone who doesn’t understand the basics of bitcoin, I don’t think he understood the concept of bitcoin being a volatile currency. If he did, then he’s trying to be smart and wants someone else to manage the risk for him. What happens when you hodl his bitcoins for him, let’s say $100 and the value dumps to $65, how do you explain this loss to him and what do you think his response would be? You’d be surprised how much people value money over friendship.
I have friends who wanted me to invest Bitcoin using his money. I don't know where he heard those thing, maybe he just hear it from my friends. I immediately said NO to him because I know how volatile is Bitcoin. I told to him to do some research about Bitcoin and how it works, and I'm glad he follows it. Since Bitcoin's price that time is so high, I don't know if he gains a profit and sold at a higher price. However, since Bitcoin's price is so deep where people are so scared, I highly suggest to invest in it with your extra money, a money that you can afford to lose. Buy Bitcoin where people are scared, that's one of what I have learned in Bitcoin.My cousin asked me to buy him bitcoins, and I flatly said NO, I feel like he's trying to be smart because if the investment is at risk, he's going to blame me. If he really wants to invest in bitcoin and is willing to take the risk, he can learn about bitcoin. I see it won't take too long to learn the basics of bitcoin, it can take as little as 1 week if we work hard and invest really seriously. Even if we cannot manage our own investment risk, it would be foolish to manage someone else's risk.
