Someone I introduced to the crypto world said he wants to invest his funds with my holding as a top up or contributing to my accumulations after which I told him about the risks and the potentials of the crypto coins.
He claimed he is being afraid and believe he might not be so careful enough to maintain such Privacies demanded while holding the crypto assets.
He is a risk taker and can stay unpanick for a long time but can not just keep to that privacy. So now I think of creating a new wallet for him and get him invest on it while I take control of his assets holdings and privacies.
Advice please!
I have the same case, but it's more than that, he was my brother so I took his 1$k two years ago and put it in wallet that I have control as his investments. So the same as yours, but it's not literally a top up on my own holding wallet. I created a different wallet for him and we always talk about or at least I have to tell him the risk involved and the security needed on how to handle. Our investment is on Bitcoin so far everything looks good and he is happy seeing his investment grow as I have to report to it what is going on in the market and he is more excited if he hear news about the price hitting all time high. But in you case though, it's a "friend", not sure how you two are close that you are willing to take the risk for him just like what I did to my brother. Trust is subjective, so it's really up to you to make the decision whether to take it or not.
Your case if different. If it is your brother, I'm sure if ever something bad happens to his investment, you will feel full responsibility and come to the point of giving his full money back. That's the common scenario I've seen for siblings.
If it is for a friend, it is different not only because of trust, but also on how you treat him of whatever happens to the investment or vice versa. It's all about money, there's a lot of possibilities to happen on that investment. If it is your sibling that were talking, that could be fine, especially if you are really confident. But if it is for another person, there will always be the feeling of doubt.