Altcoins Talks - Cryptocurrency Forum
Learning & News => For Beginners => Basic Questions about Cryptos => Topic started by: EluguHcman on March 22, 2024, 10:30:24 AM
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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!
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One thing that you should have thought him well about the advantage of crypto is self-custody. It just negates that when he insists on you taking care of his money and his investments.
Unless there's an incentive (commissions) for you to control his assets, my take is let him handle it on his own. You never know what's going to come out if something unfortunate happens to the pooled funds or the wallet that you control.
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This whole thing is wrong from the very beginning, because I personally think that it is wrong to talk to people about such things, considering all the risks that can arise from it.
Do you even realize what kind of responsibility you are taking on if you agree to his proposal? You will be responsible for keeping someone's digital assets that can be hacked at any moment, whose backup can be lost, not to mention the possible long-term implications that can arise one day in the future.
I assume that everything would be based on a verbal agreement, and who's to say that one day your friend won't tell you that he gave you ten times more money than he actually did and that you owe him much more than what you should actually give him.
Your life, your risk - but I wouldn't do something like that even if someone paid me and we signed a contract.
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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!
My only advice is don't ever let you make the wallet, he should make the wallet and advice him don't ever let someone to know the key, even you, because this is the very key to avoid losing his funds. And if ever there is something happens to his funds because of his fault, he can't blamed you. Aside from that, if I were you, I will teach him what I learned in crypto so that he will not experienced the same mistakes of mine.
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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!
There's no way you can help someone manage his bank account, his money in the banks belongs to him and so the password to access the account, then if he is truly interested in bitcoin, then he must learn it understand it and be ready to take the risk in it, invest in bitcoin and hodl on his own personal wallet which i believe to be a non custodial wallet, then also, if you handle such for him, there can never be a perfect transparency and trust in what you either does to him or how he feels about the way you handles his asset with you, so the better way is for such person to learn and be independent with his holding.
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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!
There's a famous quote that we all know already. It says “If you give a man a fish, he will be hungry tomorrow. If you teach a man to fish, he will be richer forever.”
I always believe that teaching them would be better than just investing for them. Teach him, guide him, and let him learn. I don't agree to a scenario where you will invest for the sake of them because it might affect your privacy because there might be a time where many people will know that you're investing as well because he said it to other people. TBH, I don't think that this is a good idea OP. Well, if that person trusts you then it's good, but don't invest for them, but teach them to invest for them.
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That might seem not a big deal but my dear friend it seems like you are a good guy and don't want bad for anyone, but you are thinking for yourself too (that's a smart move) as most of people take the responsibility blindly and then some bad stuff happen they are the ones facing legal cases against them. There are some cases in my sight, and that have taught me the lesson that never taking responsibility for someone else's funds but you should sign an agreement (the government approves if you have that thing in your place or country) here we call that stamp paper.
And then you should keep the responsibility if that person really trusts you then he will agree to the agreement otherwise you should not do this. I am just sharing the lessons I learned the rest is on you so DYOR. But if you really trust the dude like if he is one of your relatives and so close to you and you know he can't harm you in any way, then there is nothing bad in buying the funds for him and keeping them in your holdings, but yeah responsibility is responsibility so you have to fulfill it with care.
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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.
Several of my cousins have also said the same thing, wanting to invest in crypto, but don't want to bother with it. What this means is that you don't want to think about how to create an exchange and wallet, choose coins, buy them, and then invest them, and when and at what rate to sell them. So they just want to receive the net profit someday. So they just left me the money, then told me to do it and manage it. However, they only made the application on their cellphones so they could check it at any time.
From here, I personally immediately refused and said I didn't want to. Even though they asked for it several times, I personally emphasized that I still didn't want it.
There are many reasons why I rejected it:
- too risky, if the profit doesn't match their expectations, or even a loss, then I'm 100% sure they will blame me, even though they said it wouldn't be like that.
- Let someone investigate with their awareness, with their knowledge and analysis, and with what they do themselves.
- Investment is not just putting money in and getting profits, but how someone can learn to do it.
And crypto is a high risk thing. As much as possible, I think when they want to make an investment, it is not only about putting money in and withdrawing profits, but also how they do it, with good knowledge, and also good management.
So, for me, it's better to just teach them (even though I'm not that good at actually analyzing crypto), but to invite them to learn in more detail about crypto, all the risks, how it's managed, and so on. So from there, there were my cousins who persisted and ended up continuing it until now, there were also those who didn't do it because they said it was complicated. ;D
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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.
What is this privacy you speak of? The steps to securely store his wallet seeds? How do you avoid doing KYC for exchanges, or what? I'm pretty sure others' comments already told you how dangerous your plan is, I'd also suggest you drop that idea and focus on educating what he lacks. If he asks you to act as a custodian after that, just say that you don't want to be responsible for his actions. Don't believe him if he says he won't blame you or whatnot, that's impossible to happen even if there is a contract. He will blame you and show that in one way or the other if your investments fail.
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Just as others has been saying I don't think would be a smart move to accept such proposal, is better to put him through on how things work in this cryptocurrencies space, like the risk attached to it , we all know that is not every time market go in one way . So you put him through how he can create his non custodial wallet, and how he can manage and secure his asset when investing.
too risky, if the profit doesn't match their expectations, or even a loss, then I'm 100% sure they will blame me, even though they said it wouldn't be like that.
yeah that's humanity for you . At first they will be like yeah I can tolerate the risk and if any chances I endup with losses you are not be blamed, but if such endup happening every thing will turn to you , blaming you that you're the one that encourage him to invest and all that. That why anytime impact anything concerning this space to Any one I always advice them to their own personal research for better understanding.
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He is a risk taker and can stay unpanicked 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!
Generally speaking, it is not really good to take someone to ride with you in crypto investing and it is because, for one, we don't know how the market will be a month from now or even three days next and two, if expectations are not managed well this can create trouble in your friendship or connection with the person. Now, with that in mind, seems to me that this guy know already the basics with cryptocurrency and he certainly does not have a weak hands but just concerned on issues of security and privacy therefore I would say that you should set things clear for him before accepting his request. Make sure that he fully grasp things and that there is always that scheduled communication and updates for him on the portfolio you are managing on his behalf. As long as things are defined and terms are explained well then maybe give it a go. Still, you must careful with everything and treat him like a customer.
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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 will say you should be very careful about that, and also on what conditions do the both of you agree before giving you the money?
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What are you trying to do is a good thing but it has a bad part of it that you can't define or control what the future holds for it.
The risk in crypto and the wealth that comes with it, it's not something one should hold for the other. I am thinking from the angle of, bitcoin soaring in price and the number of the accumulated bitcoin you have for your friend has increased in price won't you be tempted to trade some of the bitcoin holdings for your friend in his absence since you know that, he knows nothing much about bitcoin.
To avoid such a scenario, tell your friend to hodl his bitcoin by himself in a crypto wallet address and he should keep his seed phrase safe.
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Explaining what I can do, what opportunities I have taken and also how much profit is possible from the opportunities I have taken. I also don't forget to explain the biggest risks so that they don't expect too much from me.
Someone who wants to invest through us, maybe they are confused and just want to test our strategy. Therefore, apart from being ready to get big money, he must also be prepared to lose if that happens. If it's of his own accord, that's even better, I don't have the burden of having to make every plan perfect, therefore I want to make his expectations not too high first so that he can accept all the risks and shortcomings in the opportunities I take.
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@OP,you can actually teach him how to go about his privacy and security rather than being the one in charge of his asset. If you hold his asset and something happened that led to some issues, what will be your explanation to him, and does it mean he will just allow you to go Scot free without asking you to provide his asset? We don't pray for bad things to happen, but you cannot determine something all the time. In my opinion, I will just suggest you let him be in charge of his asset. Teach him how to handle his assets, and let him make security his priority.
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You have the full responsibility for his investment if you do that. That's not a good thing for you and your relationship with that person. That person is a risk taker, he can handle the risk but can't even handle his wallet for himself. It's just like your friend is willing to burn his money anywhere he wants to.
What you should do is teach him how to create his own wallet, how to take care of it, and how he will store the private key. Don't consider holding anyone's funds to yourself, even if he trusts you so much or you have known each other for a long time, that's not a better way of teaching someone to keep their investment.
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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.
If i understood you correctly, someone you talked to about crypto, now wants to buy some but he wants you to store the coins for him. That is very bad and a clear sign that he is not ready to buy crypto, and if he continues with this kind of practice, he is going to lose money soon.
You must teach him that crypto should be stored in self custody, and it is not necessary to buy crypto immediately, he should take his time and learn more on how to store coins safely and once fully ready, he can now buy some for himself and store it.
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To be honest, there are a lot of people who are interested in investing their funds in me, but it's very risky.
I only educate those who try to persuade me that even crypto has a high risk and I cannot accept the funds.
Holding onto other people's money is a full responsibility on me, if it fails then I will get into trouble.
It's better to manage my own funds even if it's a little bit than to manage other people's funds.
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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!
My advice is that you should be careful when you have money from other people and it goes into your portfolio, because when you get caught up in cryptocurrency there is a possibility that people you know will become enemies and might blame you for going into the coins you bought. Before it's too late, it's best to make a decision not to mix your assets with other people's if it's for trading.
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Trust me, if someone ever wants to invest through me, I will never agree to his proposal, but I will help him as much as he needs in terms of investment, but I will never risk his money. Investing involves money risk and that money risk must be taken by an investor. An investor gave me funds and I invested with that fund at my own risk. Usually anything can happen due to market swings so it would definitely be foolish for me to risk money. I will risk as much money as I need to invest the amount I invest but I will never risk the money if someone else invests by trusting me.
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What do you do if someone trusts you and wants to Invest in you?
Me?
Personally, I'm not taking it.
I cannot take this although he asks for that help. It's not that I don't want to help, but truly, this is quite risky for both me and him. Even though he said it's okay, nothing will be okay when it comes to his future money. experience tells me this. OS, this is based on my personal experience, maybe can be certain considerations based on lesson.
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.
I'll say, if he can't handle it, so don't even get into crypto investment at first. Because this is not only putting money and getting money, but this is also related to management of funds and assets. So, carefulness becomes part of investment. f we still can't handle it, don't do it, and don't bother other people to do it. I will just let him learn at first about how to be much careful in any cases.
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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!
He has a point though, there is somewhat a demand for everyone in the beginning if they want to invest on crypto. Of course there is the basic security, we need to know how to protect our assets at all cost.
So I think this will be the best way in the beginning, introduce him to a wallet and what is the security about and how he should be protecting it like to backup his mnemonic phrase and private keys and what kind of wallet to use, open source and you have total control of it, which is custodial wallet.
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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!
He has a point though, there is somewhat a demand for everyone in the beginning if they want to invest on crypto. Of course there is the basic security, we need to know how to protect our assets at all cost.
So I think this will be the best way in the beginning, introduce him to a wallet and what is the security about and how he should be protecting it like to backup his mnemonic phrase and private keys and what kind of wallet to use, open source and you have total control of it, which is custodial wallet.
But the problem is that the investor wants to let OP be the one to keep the investment. I guess, OP already introduced a wallet to his investor friend, however, he can't take full responsibility for taking care of his own wallet. This kind of setup will only result in a future problem between them.
It's better to let the investor know about the strategies to keep his wallet. This way, he can understand and decide for himself whether he will invest and keep the investment himself or not.
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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.
Never agree to such proposals, they are very risky. If anyone will invest in bitcoins, they should learn to do it themselves so that they do not blame anyone.
What this person wants to do is to have someone to blame when his expectations fail, and he is preparing you for that position, avoid this trap.
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There must be a reason why he trusted you. If youre confident with your skills and you knkw you can make profit, you definitely got a chance to also make money from him.
Grab the chance or someone else would.
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Then I will refuse, it has happened to me many times.
There are friends who are interested in crypto, but they don't want to learn more deeply,
just want to leave funds to trade and want to make a profit.
Obviously I would refuse, I would not take risks by using other people's money.
It's better for me to use my own money, even if it's not bigger than the funds given by my friend.
If I agree to it and lose, then I will be blamed and of course I have to replace it.
Although there was an agreement at the beginning, it was not good and would only ruin my friendship.
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There must be a reason why he trusted you. If youre confident with your skills and you knkw you can make profit, you definitely got a chance to also make money from him.
Grab the chance or someone else would.
Better you let someone else do. If he trusts you as a friend, then the best thing you can teach him is self custody of coins, which is how BTC should be stored, not in exchanges and surely not in the custody of someone.
Take note that if you store coins for someone, you bear the risk for them and if you are attacked and lose their money, they will come for you. This is a bad thing to do, and i warn you not to do it.
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Advice please!
It's a difficult choice if someone entrusts their funds to me because I shouldn't easily keep their funds.
Especially in cryptocurrency, everything can change at any time and maybe later the money can also be misused by those who are irresponsible.
But at the basic stage I will tell you the best tricks and ways in cryptocurrency so you can keep your money and make it profitable if you invest in cryptocurrency.
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In my opinion, I would gladly accept that person and help him/her with crypto. I will teach him/her and won't let him/her lose his/her trust in me.
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I avoid this kind of deal. It's too toxic when you're going to hold and handed over by other's money. I just don't feel the necessity to do it, it may sound good and encouraging that someone wants to invest on you and trusts you with their money.
But you have no control over the markets and their emotions, you'll never know how bumpy the road is for the crypto market as you invest together with them. It's best to just do it with your own money and invest on the market, I wouldn't touch someone's money even if they are trusting it with me, I'll guide them but it's not my cup of tea.
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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.
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l 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.
That's an interesting story. So you guys use a multi-sig wallet, or you're the only one who manages the funds? Even if your brother trusts you a lot, and both of you want to continue doing this investment together, I believe using a multi-sig wallet would be better. It would add an additional layer of security as long as you use different devices to control the wallet. While it might become troublesome to manage, especially if you disagree with one or two choices of your brother, I still think the trade-off is worth it. But well, I never had any experience managing or delegating funds to my family like that, so there might be nuances that I'm unaware of.
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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.
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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 would never involved in managing the funds of others unless I am getting paid for it and things works in completely professional way but it's not the case with what you proposed. You are taking risks with your reputation which can go either way if the friend who trusted you doesn't have proper understanding about the market and it's unpredictable future and what will be his response if the coins loss value and he will be okay with that?
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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 don't believe in ever running anything for someone especially when it's related to crypto because of the volatile nature of the whole market. If your friend have developed interest in the crypto space then you should let him make his own research and obviously take the risk himself because when you come the crypto nothing is certain. I am wondering what if the whole investment or holding that you opened up went sideways. How do you think he is going to manage the feelings.
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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!
If he has the mind to invest in a coin, then he should be ready to learn how to risk to hold, if for instance the one he invested under you turnout to be good investment and profited, he is going to come back again and this time, he will make sure that his investment is bigger than the previous one and how are you going to explain to him if something happen or you get hack? Will he ask you to refunds?
Let him carry his cross on his own, teach him how to hold and don't hold for him. It's not that difficult right? If he learn everything by himself and you guide him, he wouldn't be coming every time to ask you for basic things next time.
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Given the fact that someone trusted me and would want to invest to me then I would definitely cater them and help them in order to make their money huge as well as teach them to grow their investment.
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Given the fact that someone trusted me and would want to invest to me then I would definitely cater them and help them in order to make their money huge as well as teach them to grow their investment.
Knowing that the cryptocurrency market is highly volatile and unpredictable and there can be times when one might lose money as well, it's not a very bright idea to take such responsibility because it often happens when you take responsibility for someone else's money and promise them that you will make them money if you do make them some money, they will be very happy, but if you lose the investment, you will have to live with the blames forever.
Remember, people wouldn't remember the good that you do to them, but they will never forget the bad that might happen from your hands even if it is done unknowingly and not intentionally.
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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!
Maybe your friend questions his abilities to be responsible as well as his security consciousness which it comes to financial matters that involves risks.
Yes, rather than topping up his money to your own investment, it's better to open a new account for him and manage the account for him, that way, you can fully ensure the safety and privacy of his asset and you can also conduct as handover at any time without having to run around before handing his account/assets over to him.
But as you know this is business and some ground rules needs to be in place to ensure the safe running of his account without him really interfering or being a problem.
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Given the fact that someone trusted me and would want to invest to me then I would definitely cater them and help them in order to make their money huge as well as teach them to grow their investment.
[...]
Remember, people wouldn't remember the good that you do to them, but they will never forget the bad that might happen from your hands even if it is done unknowingly and not intentionally.
That's true, it will be a great responsibility if ever someone decides to hold the investment of other people. Whatever bad happens to their money while it is in your hands, the relationship between that person will be scarred. Another disadvantage of doing this is, that the person who would take the offer of holding the investment of other people does not give any knowledge or does not teach that person to grow their investment. They will end up relying on you.
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Given the fact that someone trusted me and would want to invest to me then I would definitely cater them and help them in order to make their money huge as well as teach them to grow their investment.
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Remember, people wouldn't remember the good that you do to them, but they will never forget the bad that might happen from your hands even if it is done unknowingly and not intentionally.
That's true, it will be a great responsibility if ever someone decides to hold the investment of other people. Whatever bad happens to their money while it is in your hands, the relationship between that person will be scarred. Another disadvantage of doing this is, that the person who would take the offer of holding the investment of other people does not give any knowledge or does not teach that person to grow their investment. They will end up relying on you.
It is better to avoid this kind of thing because there are more negatives than benefits that will be obtained.
We have a big responsibility when it comes to developing investments from other people's money.
I never received an offer from my friends or relatives when they wanted to give money for investment.
all I did was say that you should learn on your own and make those investments on the basis of your own self-awareness, not because of anyone else.
So with that statement I have no burden or responsibility when the investment they make fails.
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It is better to avoid this kind of thing because there are more negatives than benefits that will be obtained.
We have a big responsibility when it comes to developing investments from other people's money.
I agree with you. It's true that investment is related to money. and that money is not a small amount of money. Therefore, it is very risky when we do this even though the intention is to help. But this will be different when we just provide an understanding for him about crypto and its investments. But if they are really ready to do it themselves, then do it, with all the risks involved.
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I would never involved in managing the funds of others unless I am getting paid for it and things works in completely professional way but it's not the case with what you proposed. You are taking risks with your reputation which can go either way if the friend who trusted you doesn't have proper understanding about the market and it's unpredictable future and what will be his response if the coins loss value and he will be okay with that?
Even if they pay me, I will never do it because it is too risky. In my opinion, investing in crypto coins must be done by ourselves. There is no guarantee for the success in crypto investment, the price can change drastically at any time. With this characteristic, it is too risky if we help friends in investing their funds. The chance of losing the money is always high, we must avoid to have a problem with the friends because of this crypto investment. So let them investing with their own way.
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Even if they pay me, I will never do it because it is too risky. In my opinion, investing in crypto coins must be done by ourselves. There is no guarantee for the success in crypto investment, the price can change drastically at any time. With this characteristic, it is too risky if we help friends in investing their funds. The chance of losing the money is always high, we must avoid to have a problem with the friends because of this crypto investment. So let them investing with their own way.
I completely agree with that. You can't promise someone that you will earn them money when you know that the market is extremely unpredictable and things can always go against your predictions and you can't do anything about that. So if you tell someone that you can help them make investments for them, they will hope and expect that you will earn them money with it, and if you can't manage to do that, that will be disappointing, and it will also make you feel awkward in front of them.
So trading and investments in a market that is highly volatile are supposed to be done by someone with their own money and it shouldn't be someone else's funds they are using for this purpose because even if sometimes you can get profit, sometimes you might incur losses as well and everyone can make mistakes.
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I had bad experience when introducing some one about cryptocurrency and investing with wrong coins until loss much fund, I won't make the same mistake make some one want to give capital for investing in cryptocurrency. trading in crypto not promising with profitable and I scare after some one investing they want earn profit around 10% until 20% every month.
Better take risk by getting loan and not get pressure with how much profitable have spending, get profit for our self and manage well with loan interest payment every month than have to paid the some one give us capital and when losing position they will ask back with capital giving.
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Given the fact that someone trusted me and would want to invest to me then I would definitely cater them and help them in order to make their money huge as well as teach them to grow their investment.
Have you made your own money huge or grown your own investment? It is obvious you do not understand a thing about BTC or crypto, how do you agree to store someone's coins and take up their risks for them. If someone makes such an offer to you, tell them to learn how to store their own coins and they should not buy BTC until they have learnt its basics.
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Have you made your own money huge or grown your own investment? It is obvious you do not understand a thing about BTC or crypto, how do you agree to store someone's coins and take up their risks for them. If someone makes such an offer to you, tell them to learn how to store their own coins and they should not buy BTC until they have learnt its basics.
In fact, some people might be able to do unexpected things like this, rich people providing assistance to poor relatives or relatives to guide them on how to make money through BTC still makes sense. So, actually I still believe that there are good rich people who at least provide a little guidance to others out of pity or maybe for other reasons.
Rather than letting a newbie go to learn by himself autodidactically, at least we can also feel happiness when the people closest to us feel helped, right?
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In fact, some people might be able to do unexpected things like this, rich people providing assistance to poor relatives or relatives to guide them on how to make money through BTC still makes sense. So, actually I still believe that there are good rich people who at least provide a little guidance to others out of pity or maybe for other reasons.
Look, there is nothing wrong in trying to educate people about what BTC really is, you can share articles with them or invite them to join cryptocurrency forums. However, there is everything wrong in helping someone buy coins and store it for them in your own wallet, that is so risky and doing things that way does not help the newbie to learn.
Take note that BTC is not a get rich quick scheme, so you can't really 'guide' people to make money through it, it does not work like that.