Bitcoin investment, fulltime endeavor or side hustle? - page 2.

ethereumhunter

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Quote from: Lantind on May 23, 2023, 06:51:28 PM

Quote from: Hatchy on May 21, 2023, 03:24:16 AM

would I quit my job to go into Bitcoin fully?

So far and some who are in Bitcoin rarely do full time / full time for Bitcoin, our advice is that you can still do both, your main job I think is very important, and the rest of the time I think you can use it to control your Bitcoin.

Indeed, that is a good advice for him. It's better not to quit his job if he can work what he's doing in Bitcoin part-time to earn more money. He can also prepare his investment for the future and I think it can also help him to have extra money if he has important needs that must be met. Be patient for a while until you collect bitcoins so that when the price of bitcoins goes up high, he can sell them and make a big profit.

CryptoBuds

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Quote from: South Park on May 23, 2023, 05:44:39 PM

Quote from: Hatchy on May 21, 2023, 03:24:16 AM

as a crypto trader sometimes, there's this question that usually comes to my mind and that is if there are people out there who are into Bitcoin investment fulltime and then if crypto currency paid me more than my current job, would I quit my job to go into Bitcoin fully?

So yesterday, as I went out at night to grab some snacks for myself. I bumped into a group of friends who were also into cryptocurrency trading. Then it turned on me that I should drop my question of whether Bitcoin or crypto trading could be a full-time hustle that would continuously put food on our tables in the near future and if they could quit their current jobs going into Bitcoin investment fulltime?Their responses were quit alike saying that
"to them, Bitcoin would continue to be a side hustle and since the price of cryptocurrency is volatile they could loss the value of their investment at anytime. they also said that they couldn't quit their jobs as that would continue to bring more capital for their investment"

after this encounter, I decided to bring this question too to the Bitcoin community itself so I would hear from other traders like myself. What is your opinion about this would you quit your job and go into Bitcoin investment, considering it as a full-time hustle?

You are using the terms investing and trading as interchangeable terms when this is not correct, being an investor and being a trader is very different, becoming a bitcoin investor is a very relaxed activity and even if you profited greatly from it, this is an activity that at most will take you a few minutes each day, and as such it will give you time to have a different job if you want it, trading on the other hand is way more intensive, as it requires that you watch the markets for hours and it is unlikely you will be able to keep it as a side hustle for long.

But whether investing or trading in bitcoin, nothing is as secure as an outside job. So it will be a wrong decision if you quit your job to devote all your time to this market, whether you choose to trade or invest. Long-term investing has more advantages because we have more time to do other things, but if you choose to trade, it will not be too much of a problem as long as you know how to organize your time properly.
Just like I am also trading forex, I don't need to watch the market all day, and I just like to trade when there is an American session. Because then the market is more volatile and trading will be easier to make a profit.

Dr.Bitcoin_Strange

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In some situations, it is very clear that one has the choice to act quickly rather than waste time on whatever they are doing. In the case of Bitcoin trading or investment as a side hustle or real job, the person is supposed to know which of the two is more rewarding, which of them is more significant and sustainable, etc. From there, they can choose which part to go with.

For example, if I am steadily making about $1k or more every month from my Bitcoin investment, either trading or investing, and I am also receiving a salary of $500 in my real job, I will have to contemplate the two and see which one is more consistent, then go for that one alone. But Bitcoin investment doesn't take your time or require you to go to any office; you can do all your things at home. So, if you feel you are very capable of handling your job and the Bitcoin investment both, then you are sure to benefit from two sources of income, but if you can't handle both, then you have to go for the one that you have tested and proven to be more consistent, realizable, and beneficial to you.

There is this proverb about "killing two birds with one stone." If you are that guy who can kill two birds with one stone, then kudos to you.

Bitcoin_people

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There are many people in this world who cannot support their family by working. They trade bitcoins in their free time to overcome these financial problems and earn profits. There are many people who see Bitcoin as their source of employment. But you would never quit your job to invest in Bitcoin, it's not a good comment for you.
If you are investing in bitcoins then you must be patient as the market has a lot of volatility so you can never be sure what will happen. If you have saved money in your spare time without trading in Bitcoin, invest that savings in Bitcoin for the long term. and you must be careful about investing when the market price of Bitcoin is in a downward position. and hold the investment for a long time then you can get good amount of profit from Bitcoin in future.

Lantind

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Quote from: Hatchy on May 21, 2023, 03:24:16 AM

would I quit my job to go into Bitcoin fully?

So far and some who are in Bitcoin rarely do full time / full time for Bitcoin, our advice is that you can still do both, your main job I think is very important, and the rest of the time I think you can use it to control your Bitcoin.

South Park

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Quote from: Hatchy on May 21, 2023, 03:24:16 AM

as a crypto trader sometimes, there's this question that usually comes to my mind and that is if there are people out there who are into Bitcoin investment fulltime and then if crypto currency paid me more than my current job, would I quit my job to go into Bitcoin fully?

So yesterday, as I went out at night to grab some snacks for myself. I bumped into a group of friends who were also into cryptocurrency trading. Then it turned on me that I should drop my question of whether Bitcoin or crypto trading could be a full-time hustle that would continuously put food on our tables in the near future and if they could quit their current jobs going into Bitcoin investment fulltime?Their responses were quit alike saying that
"to them, Bitcoin would continue to be a side hustle and since the price of cryptocurrency is volatile they could loss the value of their investment at anytime. they also said that they couldn't quit their jobs as that would continue to bring more capital for their investment"

after this encounter, I decided to bring this question too to the Bitcoin community itself so I would hear from other traders like myself. What is your opinion about this would you quit your job and go into Bitcoin investment, considering it as a full-time hustle?

You are using the terms investing and trading as interchangeable terms when this is not correct, being an investor and being a trader is very different, becoming a bitcoin investor is a very relaxed activity and even if you profited greatly from it, this is an activity that at most will take you a few minutes each day, and as such it will give you time to have a different job if you want it, trading on the other hand is way more intensive, as it requires that you watch the markets for hours and it is unlikely you will be able to keep it as a side hustle for long.

tjtonmoy

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Quote from: Hatchy on May 21, 2023, 03:24:16 AM

What is your opinion about this would you quit your job and go into Bitcoin investment, considering it as a full-time hustle?

Opportunities are so hard to come by nowadays. The competition is so high. Considering the fact that bitcoin investment is a long term plan, you can not just quit your job to join it as a full-time hustle. The statement is 100% accurate on increasing your capital of investment if you keep your job. Your job will give you a steady flow of money, from which you can always create a budget to save every month or invest that into bitcoin. Even if you take the approach with DCA, in the long run it will also give you a great profit. Why lose one in order to get the other when you can have the both and both will give you great feedback.

bussybuddy

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I sometimes wonder if I should quit my current job to focus on trading full-time. Times like these are very difficult, and I can't think of much, but I continue with my work. From the beginning, when I joined this part-time job, I only thought of earning extra income, not intending to work full-time. While it's true that sometimes the job pays more than a month's salary, I find having a stable main job is better than working full time in this risky market. Just like you can't be sure that your win rate will be 100 percent,

Vinaa77

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Quote from: Hatchy on May 21, 2023, 03:24:16 AM

would I quit my job to go into Bitcoin fully?

To be honest it's not necessary to do even I don't think it's very effective to leave your main job and go into Bitcoin completely, because Bitcoin is not very demanding of this, you should be able to focus both which is where you must be determined to do the main work as well as half the time to look at your Bitcoin, but it also comes down to your own decision.

Luzin

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Quote from: Nrcewker on May 23, 2023, 04:58:37 AM

Definitely you can’t run a family, pay bills and fulfil daily needs through trading or Bitcoin investment. Here the profits are uncertain and there are chances of even getting 0 returns. It is always advised to do a job which pays fixed salary, so that you use the money from there to run the family. Trading or investment can be treated as a second source of income, in order to add extra income to your base income, but completely relying on it, might create a problem in the future.

I haven't heard of any of my friends working full time in Bitcoin. Whether it's trading or developer or something else. Right now all my friends have other main jobs outside of Bitcoin. So if I conclude, investment is not enough to provide certainty of income so this investment should be used to benefit additional work. Working to provide labor services is currently the main choice because they will get definite money in the week or monthly.

cydrix

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Why would you want to leave a well-paying career if you want to invest in bitcoins? How will you obtain the capital for investing? That would be a pretty bad course of action. Bitcoin investment is not a career or a side business. How is this a job when all it involves is buying bitcoins and storing them safely until they increase in value and generate a profit, just like any other investment? It is obvious that some individuals do not truly comprehend what investing is.

SirLancelot

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Quote from: Hatchy on May 21, 2023, 03:24:16 AM

as a crypto trader sometimes, there's this question that usually comes to my mind and that is if there are people out there who are into Bitcoin investment fulltime and then if crypto currency paid me more than my current job, would I quit my job to go into Bitcoin fully?

It is obviously not a wise decision to quit your job if all you do is buy and store Bitcoins and wait for their price to increase, that is not going to give you constant earnings so that you can run your house and life with it but it is just that if the price goes up, you will be in profit. Only a person who is doing day trading should leave their job and only if they know they are earning enough from trading.

Someone who doesn't have good enough capital and doesn't buy and sell cryptocurrencies on a daily or hourly basis is not supposed to leave their job to become a full-time trader because only buying and holding Bitcoins or other cryptocurrencies won't give you enough profits.

Nrcewker

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Quote from: Vaskiy on May 21, 2023, 06:23:00 PM

It is a volatile market, our life can't be the same. To some extent it is possible to adjust the life needs to the varying income. For a long means this will sure be problematic. Better is to have a stable earning job, so that things can be planned accordingly. With the earning out of bitcoin trading and other activities it can be used to make life even better. There are people who are full time into cryptocurrency trading, but through some means they've already secured to receive earnings from multiple streams.

Definitely you can’t run a family, pay bills and fulfil daily needs through trading or Bitcoin investment. Here the profits are uncertain and there are chances of even getting 0 returns. It is always advised to do a job which pays fixed salary, so that you use the money from there to run the family. Trading or investment can be treated as a second source of income, in order to add extra income to your base income, but completely relying on it, might create a problem in the future.

bluedeep

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Quote from: patientforzhou on May 21, 2023, 10:10:41 PM

Depending on your personal circumstances and risk tolerance, you should fully understand the bitcoin market and investment risks before making a decision.
If you already have certain experience and knowledge, are able to make effective investment decisions, and are willing to devote more time and energy to Bitcoin investment, then you can choose to invest full-time.

If you want to invest in Bitcoin, you have to take a high level of risk. If you want to make money by investing, you need to have a good idea about investing. If you want to make a profit, you have to invest in Bitcoin for a long time. If you invest in Bitcoin, you have to take some risk.Otherwise you can't profit from here.

Sanitough

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If you are less risk taker, then you would always consider an investment as a side hustle. That way, you can play safely with your finances. But if you want to see your life change in an abrupt, you will never be afraid to take risk in making your side hustle as a full time endeavor. However, always know that an investment can give you life changing losses too aside from making you profitable, so think more wisely which decision will work for you.

Vaculin

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Winding down.

Quote from: Marvell1 on May 21, 2023, 10:49:20 AM

Quote from: Hatchy on May 21, 2023, 03:24:16 AM

...

after this encounter, I decided to bring this question too to the Bitcoin community itself so I would hear from other traders like myself. What is your opinion about this would you quit your job and go into Bitcoin investment, considering it as a full-time hustle?

I want to ask you one thing. In your opinion, having one source of income or two sources of income, which is better? This life always contains surprises, so we always need B plans for it, and having 2 or more sources of income is one of those plans. With a world rife with inflation, and currencies depreciating daily, many people struggle to earn extra income from various jobs. Having 2 income sources is the dream of many people, including me.

As others have also said, bitcoin or crypto is too volatile and very risky. So quitting your job to spend all your time investing in bitcoin is really a bad idea. I completely agree with what those guys have said.

Any investment has its own risk and cannot guarantee consistent profits unlike a decent job that gives us fixed income every month. But I believe those who take the risk in leaving their jobs in exchange for investment have also their valid reason. If they have enough assets that will assure their bright future, then why not? After all, keeping a job will not make you rich overtime, but keeping an investment will create life changing progress if you work on it for long term.

dunfida

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Quote from: Hatchy on May 21, 2023, 03:24:16 AM

as a crypto trader sometimes, there's this question that usually comes to my mind and that is if there are people out there who are into Bitcoin investment fulltime and then if crypto currency paid me more than my current job, would I quit my job to go into Bitcoin fully?

So yesterday, as I went out at night to grab some snacks for myself. I bumped into a group of friends who were also into cryptocurrency trading. Then it turned on me that I should drop my question of whether Bitcoin or crypto trading could be a full-time hustle that would continuously put food on our tables in the near future and if they could quit their current jobs going into Bitcoin investment fulltime?Their responses were quit alike saying that
"to them, Bitcoin would continue to be a side hustle and since the price of cryptocurrency is volatile they could loss the value of their investment at anytime. they also said that they couldn't quit their jobs as that would continue to bring more capital for their investment"

after this encounter, I decided to bring this question too to the Bitcoin community itself so I would hear from other traders like myself. What is your opinion about this would you quit your job and go into Bitcoin investment, considering it as a full-time hustle?

Dont quit your job because its true that the market is volatile and something that you cant really rely specially if you are really needing to have that daily needs which we know that trading cant provide nor investment

to put up food in our table on day to day basis which it doesnt really make no sense if you would quit up but you arent really that something sustainable on crypto investment not only limited on Bitcoin but in overall crypto space. Yes, there are ones who are really be able to quit up their jobs but those are the ones who had been holding up big investment or funds and able to make out some
sustainable trades in day to day basis.

Acquiring such knowledge or getting these type of skills isnt something that someone could easily pull off. This is why it would be wise on making it as a side hustle because
you wouldnt really be that dumb not to notice whether you are really that sustaining or not. You would be the ones to find out on that certain right time.

Fivestar4everMVP

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I personally know many people here in my area who are full time bitcoin and cryptocurrencies traders, and they are living a very good life, including those with families as well, though most of this guys are not typical traders like me and you though, they are hardcore professional traders with all the right tools and a well furnished trading room where you can find all kinds gadgets set up to optimal trading experience..

I personal quit my job in 2020 to become a full time bitcoin investors, as well as a trader, but still, i didn't have to depend solely on money I made from trading, I decided to set up business of my own as a major source of income, while bitcoin trading have become my side hustle.

Finestream

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The answer relies on how you are actually seeing bitcoin investment in the future and how you are doing it well at the current. While most of us here prefer bitcoin investment as a side hustle because of its inability to give sustainable profits, I also think that it could bring a big difference in our lives if we also try to make it as a full time endeavor. Yes, the risk could be a lot way higher but you know, you can’t expect your life to see high progress if you are afraid to take big risks. But always know that before we decide to focus on investing for full time, at least our finances are already stable so that if we lose, it can never affect our finances that much.

Kasabus

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Quote from: PX-Z on May 21, 2023, 10:51:48 AM

Quote from: Hatchy on May 21, 2023, 03:24:16 AM

after this encounter, I decided to bring this question too to the Bitcoin community itself so I would hear from other traders like myself. What is your opinion about this would you quit your job and go into Bitcoin investment, considering it as a full-time hustle?

Rich people don't settle in one source of income. They become rich because they have multiple business, multiple investments, and their own jobs. You don't need to settle and work full time on investments or trading if you can work your job fulltime and sideline, investments should be just side hustle.

True. They always seize opportunities that will make them richer in the process. So from the rich men perspective, if you can make them both work, keeping your job and receive good compensation, and working on your side hustle in your free time to make it profitable, then there’s no reason to focus on a single job or side hustle. If rich men are doing this, then much more to those who only live at a regular stratus who keep on wishing to improve their lives and be financially stable and independent.

Topic: Bitcoin investment, fulltime endeavor or side hustle? - page 2. (Read 590 times)