Topic: Anyone here living full time on cryptocurrencies? Can you give guidance? - page 2. (Read 1247 times)

The minimum investment depend on the capability of your pocket, the bigger the better. You need to investigate and research in order for not to lose your initial investment. I consider my self as a hybrid trader because i trade in a weekly basis and hold some profits. I usually trade the coin that i already own. I trade it to accumulate more. One key to not to lose is when you buy a certain coin make sure to get your initial capital if the coin pumps, you can also get some profits if you like. The remaining coin will be your profit and you can now play with it, remember that your capital is already in your wallet and no need to worry even if the coin dumps.

To me your question is kind of like "anyone here living full time on casino winnings?"
I guess you could do it.
You might be one of the lucky few who make it but my advice is keep your day job.
Or at least have a second source of income.
Remember, the house ALWAYS WINS.

I might one from them. Because my source income entirely from internet. Trading crypto & forex. Money that i have invested about $ 1.2K and got 4btc. Until now, my btc still remain, because i am only cashout the profits.

It seems to me that it is not necessary to leave a permanent job. Yes indeed you can earn income from trading on the exchange more than the basic work but we should not forget that those coins that you earned someone lost. Why do you think that you'll never those who are losing coins?

I also want to work full day. Maybe even leave with my current job. At the moment I work as a pharmacist, but bounties bring me more money. So, that's worth it.

Did you mean here in this forum? If yes, the answer is no. Forum is for free. You don't have to pay anything.


I make sure that the investment i joined is not scam. On ICOs. I always carefully study their whitepaper, roadmap and developer team. Just to be sure that the investment i joined is a legitimate and not scam ICO. I avoid HYIPs. Theyre all scams.

Im more on HODL that day trade. Because it's safer than day trade. Im a student and day trade needs a lot of attention. It's time consuming because you have to monitor everything to make profits. Im holding some IOTA on my bag right now. Im going to keep it until next year.


Well, i usually looking at the news. It's very helpful tool and give you idea what altcoin could possibly pump in the future.  Also i have joined a group from telegram which gives me signal what altcoin is good to buy.

> What is the minimum investment a newbie needs?

There is no "minimum", it's not like stock brokers where you need a minimum of e.g. ten thousand dollars to open a broker account. That's one of the beautiful things about cryptocurrencies, anyone can get involved as much as you can, you can invest one dollar or one billion, it's up to you.

> How do you select an investment?

Researching and reading whitepapers, search on Google for ICO's - you'll find a list with upcoming projects. Make sure to check each of them and see if the idea appeals to you, if it does, dig deeper into it and read the whitepaper / ask questions to the community and founds about the project.

> Do you HODL or day-trade?

Hodl for your life.

> If you day-trade - how do you pick a coin that is day-trade worthy?

I don't day trade.

That's gonna be a different story if people keep comparing themselves to an early adopter ,
5 or 8 years ago was a golden opportunity to make a non sense investment which can turn your 1,000 dollar to 6 million dollar ,
Now you can only regret it , but don't worry , if you have some skills like selling digital stuff around intertnet and use bitcoin as payment processor , then i think you can make a living with bitcoin by consider it as a currency and spend it in your business transaction.

> What is the minimum investment a newbie needs?

For starters, I'll advice to invest for about $50 to $100. The reason for this is having a flexibility on scattering what you invest and not just focus on a single alt coin. If you are going into an ICO (initial coin offering) then the same rule I created also applies, add to the fact that if the ICO is very very cheap then you should be able to buy more.

> How do you select an investment?

For trading, I just don't rush and buy when a certain coin is going down for a few days, I observe for at least a week or two, much better months and be aware for the news and whats going on into the crypto world as such factors must be behind the reason why a coin is going down.

If going to an ICO, I research first the capability or resume of that development team (achievements that they achieved and past succesful projects), if not available or lacking of info then walk through their roadmap or whitepapers so you could feel or have a hint if the dev team is really serious about their project.

> Do you HODL or day-trade?

As per my past experience, I prefer HODL rather than day-trade. My simple reason is when it comes to day trading, the increase isn't really enough for the profit I'm looking for also you'll also be spending for the transaction fees which might affect the profit or much worse is rather than gaining you are at a loss.

> If you day-trade - how do you pick a coin that is day-trade worthy?

Like what I've said earlier, day trading will only be compatible, if looking for a small profit. A day-trade coin worthy are known ones which charts, graphs, stats are already available so you can read or monitor them when is the right time buy or sell. Lastly, a coin when there's too many activity (buy and sell transactions).

I would suggest finding an altcoin that will goto the moon, something with at least 10x gain potential.

Put as much as you can stomach in the initial buy and hold. If it does go up 10x which many do, pull the funds out in dollar or whatever you use in your country. Pay your taxes on it and then roll the gains into a mutual fund with dividends.

Then use the dividends every few months to buy more crypto, and establish a long term / short term fund. And start dollar cost averaging back into crypto.

This is not trading advise, make your down decisions.

I know of someone who started with 2000 USD back in 2013 and has made a living trading cryptos. Now this guy has over 1000 bitcoins and is super good with charts. What i have learned from him is not to get too greedy and take out profits in time.

I think majority of the people here are making money also full time in this cryptospace and I am one of them. The minimum investment needed for a newbie depends on how much he or she can afford to lose but I recommend small amount as a starting point. Selecting an investment needs time and effort in making intensive research on a specific investment you are into most especially in altcoins and ICO's but If you invest in coins I suggest the top ten or top five on coinmarketcap. In my case, I do holding coins mostly top five altcoins. Since I don't give a try on day trading maybe you can ask for help on other members here in Bitcointalk and there are really lots of pro traders here.

I am not a full time trader yet but I would say only invest what you're willing to lose. Selecting investments would mean you need to look at the project, whitepaper, figures, road map, team etc. Some coins are for hodling and some can be used for day trading. For day trading keep an eye on whats being released onto exchanges, watch some specifinc ones everyday and see  how it rises up and down. Learn how to use the graphs to your advantage (something I have not learnt yet)

1. No minimums. You can literally start with any amount you wish, especially if you are buying coins to hold for the long term. For instance doge is only worth around 19 sats per DOGE right now and it's easy to rake up 10000 DOGES for like $15, yet still be able to make a decent profit.

2. Experience and common sense.

3. I hold. Day trading takes away too much in terms of fees and time.

4. Something that is constantly volatile or you are able to trade the spread since it is static.

The only way this would be possible is by day trading. Which can be very risky in the market of alt coins. I wouldn't recommend if you know nothing about economics and trading.

Yes me too. I'm looking for ones that cost $5000 max. There are a few that are around the $1000 mark but they would need to increase a lot in value to be viable. I was looking at chain coin, linda, crave , desire and a few other newer ones.

I'm looking forward to achieve this. Of course it takes time to understand which are the actions that make you earn money and those which make you lose it. But that's life.

There is no such thing as minimum and maximum when it comes to investing. The only limit is your willingness to gamble. And how much you can afford to gamble.

Well, in the crypto world, you can either go with the well known and get a bit sure profits, or go with ICOs. Niw when you go with ICOs, the most important thing to consider are the developers of the project. Search about them, and if they hapoen to have bad reputations or feedbacks, then turn a 180degrees away from the ICO.

I do both to maximize profits.

I look at the charts and trust my gut feeling.
It is something not teachable, can only be learned by experience.

-hope this helps.

If you have enough money to invest. Atleast 200$ minimum. If you want to invest make sure you don't go on a ponzi scheme site there are a lot of them on the internet better invest that in bitcoin then go to trading sections. There you can learn the basic strategy on how to get profit in trading.

I not live fully on cryptocurrencies. But I know few people and heard a lot people that receive huge money for this year.
So many crypto rised this year like 1000-2000%.

So. The idea is to invest in many cryptocurrencies and in next global pump you can be rich and then you become full time!