Topic: Beginning with Crypto - page 2. (Read 409 times)

From ourselves we must have the skills to do this in crypto investing and day trading.
Long-term investing is indeed done by many people, but panic will continue when the market is crashing and it's unstoppable sometimes many people sell cheaper than what they expected before, but is this the best way? not stick to the core we must be able to withstand what is happening in the market and strong hold more natural coins than your choice.

My day trader is not very proficient even I don't decide whether this should be done every day or not so I always analyze coins first, then buy and sell when you are there, then for me there are no limits when profit is in sight then immediately I will sell .

I won't say the volatility makes it perfect for investing instead it makes it perfect for trading. Trading has to do with taking advantage of the ups and downs of the market which is something bitcoin and the entire crypto space has at its peak. The volatility is seen as one of the disadvantage of the currency as it poses a threat of instantaneous losses compared to the other means of exchange like the fiats.

What makes bitcoin perfect for investing is the purpose of its creation and the feature it has. The decentralization of the currency, the finite supply and the mechanism put in place to reduce the supply of coins coming into circulation in regards to reducing the reward for miners every four years etc.

Technically the price of bitcoin should continue increasing provided the demand of the currency remains constant or increase as well.

It's knowledgeable enough not to start day trading without skills in doing day trading. When you discuss about earning money there is a skill required in earning. It's the same as work, if you don't know how your work is done then you can't get your payment. Even in investing, skills is a must too and research is also important if a platform you're going to invest is worth to invest your crypto for long term investment.

Cryptocurrency's volatility makes it different and unique from other assets that's why this one is good for investment especially for long term investment, I would still choose to invest using bitcoin than other altcoins when we talk about the long term because it has a higher possibility to earn more.

I never tried day trading because it is so hard for me to earn money from that and I think it requires too much knowledge before you become successful from that. Investment is also capable of any beginners in cryptocurrency if they want to earn but before that make sure that they know even small little things about cryptocurrency and when to earn from the investment.

That's why newbie should not over joyed for the first profit they get in trading or any platforms they put their capital since in the next phase provably we will got an issue and lose a huge money since we don't try to learn more about the platforms or the other options we wish to go and try to earn some profits.



Holding is good but believe me it's not easy as you think and I experience to lose huge amount when bear market strikes and it's really painful to see the heavy reds on the market so best to educate yourself about the consequences and learn when to exit.


I go with this since this is much sustainable way for trader to do and this is quite profitable if the trader is aware and knowledgeable on the market.

Ive done this before and I am not so satisfied with the return of investment. I am more kind of a player on future contract and shitcoins. Yeah you heard me right, I am playing a risky play on shitcoin on defi hype. What can I say, these are totally shit projects but can gained 2x to 5x of your capital. The only thing that I dont like here is the rugged part where you can be robbed instantly and got dumped by fucktard token creators. Anyway thats how defi hype works. I have my losses but I assure you it is overwhelmed by gains. For beginners dont try that out, its really 100% risk. Just sharing my ways on how to profits.

Many new people who know crypto trading will think that crypto trading can give them a chance to earn a lot of money. They feel like that because they watched from Youtube that someone tells them to join with them and start earning money. But if they just follow that person without the want to learn what is all about trading, they will not get the chance to make money.

But I don't think that investing in crypto in the long term will be the easiest way of making money because not many people who can calm down if they see the price drops. Many of them become panic and sell it fast before they lose too big. If you can hold your feeling from that, you might have a chance to get a big profit in the long term.

Day trading is not recommended for new people because they will confuse to analyze one by one the coin, and even if they use one coin to trade, they can feel difficult to know when to enter the market.

But all in all, I agree that crypto trading can be a new way for people to make money, but they need to learn more before they can succeed in being a pro trader.

In my opinion, all endeavors in crypto involves certain level of risks (and possibly, rewards). So it's totally fine if and only the person know what they're actually doing and not just doing so blindly. So whether you plan to be a day trader, swing trader, medium-long term trader or you just prefer the good old investing and holding for an extended period of time,  it's fine if you know what you are doing. That said, you will also need to get the skills required if it's trade or be able to do adequate researches and due diligence if it's about investing.

One thing a lot of beginners try to do is to skip the who learning process and move right ahead to the good stuffs. But that's not how things works as they tend to meet challenges along the way and are unable to tackle these challenges due to their knowledge gaps.

I would not recommend a beginner to go into day trading. There is a huge risk involved, any you have to pay transactions fees every time you trade, plus taxes (depending on your country) on top. Your recommendations about just buying and holding is probably the best strategy in my opinion for new people.

Investment in cryptocurrency is too risky you have different ways of earning.

1. Easy way - right now you don't have any knowledge of cryptocurrency but you really want to make an investment. IMO you can make an investment with the bitcoin without too much prior knowledge just follow the basic investment of us "buy low and sell high" this commonly happens for a long-term investment of course day by day you are learning knowledge too.

2. Hardest way - this requires a medium to extreme knowledge in cryptocurrency such as.
Investment - Knowledge of the coin you want to invest
Trading - knowledge in the market graph, technical indicators, market movement, dumps, and pumps.
Gambling (Optional) - This is optional because you can earn with this but full of risk in playing gambling games, not too much related to investment and trading but requires skills and critical thinking.

Of course, this is just IMHO. It depends on you if you will follow some of them just a piece of information it's better to become an independent person.

Training using a demo account is the same as using a rubber woman for lovemaking. In a real situation, and especially if you will trade using large amounts of money, everything will not be quite the same as when you train with a demo account. For this reason, I would advise you to train with small amounts rather than using a demo account. Train in reality, but limit yourself to, for example, the size of the deposit - no more than $ 20-50.

Invest is indeed for long term, it doesn't make any sense if you invest in very short time,it's rather called by trade.

Take a look and watch this video, this is the proof if bitcoin is the best choice to pick as best investment,

Source : Youtube

You can calculate by yourself how big your investment if you keep holding your bitcoin from year to year, and it would be better if you can keep accumulating the coins you hold.
You can be richer by invested in altcoin, but you can also lose more too if that altcoin dumped or have small volume trade in the future aka shitcoin.

The real question is, how long you can hold your bitcoin?

Personally I think day trading (especially when altcoins are involved) is a total waste of time and mainly has to be do with less fundamentals and more of gambling, guest works and wishful thinking which is one of the reasons I decided to stay away from it as I am not that good in any of those. I still give my maximum respect to day traders though as it's not an easy profession. I strongly advise against engaging in it but if you're quite knowledgeable and have the required skills and information to outsmart the market then you can go ahead. Day traders keep the market active and make it less boring.

Investing long term isn't always advisable for altcoins as some coins are seasonal like the recent DeFi hype. When long term are mentioned it should mostly/only be used for just bitcoin to avoid confusion for noobs. Many have bought into the long term mentality that it cost them heavily when they adventure into others coins order than bitcoin.

While the industry provides avenue for huge and quick profit, you should be very cautious of those offers and if possible abstain from chasing after them as they're likely to cost you your investment capital instead of giving you profit. There are many pump and dump scheme in the space, that a coins is been hyped doesn't necessary means it's worth your investment.

Cryptocurrencies are significantly more volatile than a couple of other tradable assets, it is also largely unregulated so there's no legal process that goes into listing of coins. It is however not much different from regular trading and cryptocurrencies like Bitcoin can be traded against other currency pairs like USD quite easily.

If you are taking the entire crypto market into consideration this becomes very difficult and with the high number of scam and fake projects it is very easy to loose out on your investment. Only a small number of cryptocurrencies are worth investing long term, notable among them is Bitcoin.

Any type of trading takes time to learn and build experience in, so a demo account is always advisable for new traders, they should also prioritize knowledge over profit early on.

With crypto you can get huge returns.  However, it doesn't come easy, in a split second you could get or loose a large amount of money. This means crypto trading is exciting, and it can be very difficult to keep peace in mind under heavy pressure.

The easiest way of making money in crypto is investing longterm. Rather than trading you can buy coins, hold them in your wallets untill the price appreciates and you sell and make your profit. Of course you have to make some research about the coin, and be convinced it has potentials before investing in them.

Another way you can invest is day trading, which is a trading strategy where investors buy and sell orders for multiple times in one day. This requires more knowledge and skills. I suggest you use a demo account.