I can comment only upon exchanger. My definition of exchanger is someone that exchanges one type of currency for another. That currency can be fiat or crypto.
The answer is that it depends on the country you live in. I can only comment on the US. It is difficult. You will constantly have your accounts shut down. You will be scammed. The IRS needs its cut. It is like gambling.
I love it!
Topic: Become trader, exchanger or both ? (Read 523 times)
If it is tolerable for you then keep some more patience and learn the proper trading. You can gain lots of profits from trading really. Exchanges are always safe way to get profits but that is not much to feed your hunger. You can read some forex related article and register for demo accounts on multiple trade platforms. Practice their with virtual money and they do this trading on real market situation so you know very well what you looking at.
What's the job of exchanger? Did you mean operating an exchange? That's profitable if you have massive customers. Just like Polo. They are the biggest exchange right now. So imagine how huge the profit they get. Everytime a customer buy some coins. They are charging 0.2% of what they bought. And i guess they are holding that to sell it on higher price. So both trading and exchanger are profitable. But still the profit depends on market movement.
I think become trader is more profitable, in trading you can earn unlimited profit, you trade and then you keep your coins safe, the end, but if you opening an exchanger, you need to think of the security and people's complain and you need to build your reputation
For me, every job has own level of difficulty. For now I prefer to be a trader rather than an exchanger but there are times when I also see the advantages of being an exchanger or even both. But with only capital of 1 btc and one pc becomes a challenge to pursue two different professions. Now I have started thinking how long to be a trader? Is it a mistake to think of trying a new job?
As long as you noticed your profit grows in your preferred profession while at the same time, your effort working there really worth it and pays off then continue what you are doing. Just began thinking other works if you found think you can afford to spend another time on it without harming your usual activities in everyday's life.
And for me, I don't considered trading as a job. A job must give you stable and regular fixed income on regular periods which is not possible in tradings since you are playing with the price volatility here. The good thing here is, trading can give you big profits enough to cover your spendings to real world. But for now, just try to use your trading funds for trading purposes only and not the same as the role of your real job is.
Very confusing thing when you are just basing on the topic title since the use of words is inappropriate or not being described so closely what he meant about exchanger maybe just a buy and seller of coins.I can say that being a trader would really be more profitable unlike on just an exchanger because you would only depend on people to rely on making exchanges into you.
we have nothing called "exchanger" and as others mentioned you need to explain what you mean by it, it is not a real word.
also if you want to choose trading as a profession i think it is possible but you have to accept two main things
1) high stress
2) lots of risks.
when you trade as a job, like what day traders do, you need to invest a lot of money into this and do it every day and have your eyes open with a lot of bots and alerts on 24/7 and that is not easy, that is time consuming. but also it can be very profitable.
also when you invest a small amount like $100, that means worst case scenario you lose $99 and get out before the $1 is also lost
but when you invest something like $10,000 then a small loss where you didn't care like a -10% drop means losing $1000 in a flash. and that is the high risk part.
also if you want to choose trading as a profession i think it is possible but you have to accept two main things
1) high stress
2) lots of risks.
when you trade as a job, like what day traders do, you need to invest a lot of money into this and do it every day and have your eyes open with a lot of bots and alerts on 24/7 and that is not easy, that is time consuming. but also it can be very profitable.
also when you invest a small amount like $100, that means worst case scenario you lose $99 and get out before the $1 is also lost
but when you invest something like $10,000 then a small loss where you didn't care like a -10% drop means losing $1000 in a flash. and that is the high risk part.
Now I have started thinking how long to be a trader?
If you have basic experience about trader and it will go fast for you to be a trader. Is it a mistake to think of trying a new job?
No, it's not a mistake, Everyone feeling free to express his feeling. You can start from the little exchanger. Or you can try ot through the forum. On the exchange service, you will be able to start your service.
It will be a right place for your early start.
I think Op represents participating into trading activities same as exchanging. Running an exchange service is simply hard, because it needs huge investment as well perfect technical team. Even a single mistake leads to catastrophic loss for the business team. Being a trader is simple, that exchange websites provide making buying and selling starting with very small investments.
Does exchanger means running an exchange business where you cater customers who want to buy or sell bitcoin to you? If so, this is a very profitable business once you established a good reputation and have repeat customers. It may be hard at first but I think this will be a more profitable business in the long run than becoming a trader which may involve more risk.
For me, every job has own level of difficulty. For now I prefer to be a trader rather than an exchanger but there are times when I also see the advantages of being an exchanger or even both. But with only capital of 1 btc and one pc becomes a challenge to pursue two different professions. Now I have started thinking how long to be a trader? Is it a mistake to think of trying a new job?
Both are potentially profitable jobs today. But everyone has their own expertise, I prefer to be a trader because I know that I have skills in this field. You should be able to find out where your expertise, because you must maximize all the potential that can bring in a lot of money.
- What do you mean by being exchanger? Buying bitcoin in lower price from one person and selling at higher price to other?
I think trading is more profitable than being just a middle man for small amount of price margin. I also only have one PC and around 2 BTC right now but I am pulling nice profit out of trading so you can too.
I think trading is more profitable than being just a middle man for small amount of price margin. I also only have one PC and around 2 BTC right now but I am pulling nice profit out of trading so you can too.
For me, every job has own level of difficulty. For now I prefer to be a trader rather than an exchanger but there are times when I also see the advantages of being an exchanger or even both. But with only capital of 1 btc and one pc becomes a challenge to pursue two different professions. Now I have started thinking how long to be a trader? Is it a mistake to think of trying a new job?
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