Is it proper to give funds to someone to trade crypto for you.

[Etini]

rom its inception, I have not been a cryptocurrency enthusiast. I know about bitcoin and how it rose dramatically. The mechanisms that were responsible for its rising, I don't know. I was offered Ethereum when it first came out, I turned it down. Fast forward to today, everyone is talking about crypto. People are making huge money from the cryptocurrency industry. I still don't understand what it is all about. As a person that wants to maximize earnings, I want to also earn from crypto and blockchain. The whole concept though didn't appeal to me but I am a business person.

The twist is that my brother is trading crypto. He is doing well though. I planned to give him some money so that he can use and trade. We share the profits. Are there any risks to this? Should I go ahead and give it to him to trade for me?

 

[Suba]

There is no problem, if the one you give the money is your brother, if he is in need of capital to trade crypto, and you not only share profits but also have to share losses, If you lend $ 1000 and lose $ 200 then the loss can be divided by two -$100 each. In any business, every time there is a profit, there will be a risk of loss.

 

[eldavis]

It depends on you though, if you actually think you can trust the person. Personally i do not buy the idea of paying someone to trade for me, or even accepting money to trade for someone else. I have come across cases where does who pay get cheated. Some months back a friend of mine paid some guys to help him trade, only for him to find out later on that they have been making profit and taking profit, but they kept tell him trades was bringing losses. i have also seen a case where a guy was arrested because someone paid him to trade and he ended up loosing all the money that was given to him.