Topic: Bitcoin investment, fulltime endeavor or side hustle? - page 3. (Read 590 times)

No doubt people make profit in Bitcoin trading but the idea of making it a full time job is a no no to me  reasons being that Bitcoin price is volatile. You may or may not make any profit at the end of a month. But when you have a job you know that at the end of the month a particular amount will be paid to you. So for me Bitcoin remains a side hustle 😔😔.

when we always get profit from our investment sometimes surely some people will have thoughts like that.

but in my opinion, investing in btc shouldn't be your main business, so in my opinion, investing in btc should be a side business, because in the world of btc, of course there is a bull market and a bear market.
so investing in btc has risks.
besides investing in btc in my opinion is not tiring so it would be better if we do jobs like in factories or offices and so on and make btc investments as a side business,
so the profit will be even greater because we have 2 jobs.

I really remember a friend of mine who is a Contractor who is also pursuing this field in terms of coin trading, telling me one thing "I only trade with one coin only BTC". So in short they have gone through the bitter and sweet side of investing in BTC and I think this is a natural thing if they decide to continue investing because after work and market performance they have studied well.


I understand. This is an individual perception and is not wrong. But this may not cover all points of view on Bitcoin.

Investing in Bitcoin is risky, and for me it's just a side hustle.

The choice of whether to make Bitcoin investment a full-time endeavor or a side hustle depends on your knowledge, experience, financial stability, risk tolerance, and time commitment. It's a personal decision that varies for each individual. Consider your circumstances and goals before deciding on the level of involvement that suits you best.

Ultimately, the decision between making Bitcoin investment a full-time endeavor or a side hustle depends on your specific circumstances, goals, risk tolerance, and available resources. It's essential to carefully assess these factors and make a decision that aligns with your financial objectives and personal situation. Consulting with a financial advisor may also be beneficial in helping you make an informed choice.

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.

I started as a trader then I switched to become a long term hodler. Before I engage myself in crypto, I already have a stable job and a running business that up to now still existing. But I still don't quit my job despite of having other source of income, why? Because this is where I can earn a passive and stable income aside from being a crypto investor.

So my answer to your question is no, I will not quit my job and won't consider being a crypto investor/trader as a full time hustle. I agree with your friends, their job can give them additional capital for their investment hence it's wise to keep your stable job while treat crypto as a side hustle. This way, incase something didn't go as planned with your investment, you still have other source to be able to earn a decent income.

The people that you saw outside did the right thing.
They did the right thing to not quit their job, and take Bitcoin trading as a side hustle only.

TBH, there are only few people out there who have the guts to quit their job, and focus on crypto trading, and become successful. What's worse is there are some traders out there especially when the newbie ones who are getting profit in their first few trades, made a few bucks, quitted their job as they are earning far more than their current day-to-day job, and after that they lose their money in trading. This is the reason why I don't quit my current job as of this moment, and focus more on crypto trading. I know for a fact that yes you can get profit for consecutive days, but there will always be a possibility that one or consecutive wrong trades might end up losing my money.

HELL NO!!!!!!

Unless you're an expert trader who are earning more profits than losses in a monthly basis, why should you quit your day job to just to trade. Why quit your job if you can do both of them at the same time? I'm not an expert in trading, but does expert traders look at the charts 24/7? Bitcoin is very volatile, and very unpredictable thus, you don't know where it can go. One time you might earn profit from it, and then after that you might get lost. Overall, I don't recommend quitting your day job, and focus more in crypto trading.

Everyone knows that most day traders of any asset are losing money in the long term, because there is no reliable method of predicting short-term price. And investing in Bitcoin for long term can't even be classified as side hustle, because it doesn't require much effort - just buy Bitcoin, set up a wallet and wait for years. Side hustle is something that you spend maybe 5-10 hours per week at least, and with Bitcoin investment you don't need to do that.

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.

No matter how profitable bitcoin is, once it is unstable, it is never considered a full time job.  furthermore, bitcoin investing and trading both carry the same risks as gambling, so I rarely see anyone devote themselves to it full time, and most of them consider it a side job.  it would be best if you didn't quit your outside job to spend all your time on it.  Firstly, it is unstable, and your life will be difficult if you don't make money from it.  Second, your life will come to a standstill if, in the future, it collapses.  never depend on just one thing, life always needs variety.

Honestly speaking I was once a full time crypto earner but being in crypto for a long run you would realize a lot of things.
The price of crypto could move in a fast phase that also means your whole life is at risk.
If you couldn't find a good source of income in crypto your investment alone would sink along with your expenses.
That is why it is better to make it as a side hustle than to make it your full time.

It’s obvious that two heads are better than one. So if you can be profitable on both, then never compromise your job so you can focus on trading or investing. Bear in mind that the market is unpredictable, so you have to invest or trade with high caution as much as possible, and this will bring too much pressures on you. In order to lessen the risk and pressures you felt, it’s a wise decision to keep your job that gives you consistent profits, and just do investing or trading whenever you have free time after working on your job.

Yes, it all depends on individual’s choice. We all have different mindset and even personal experience when it comes to bitcoin and our job. Some actually leaves because they have found more opportunities to earn in bitcoin, while some are still hesitant because they don’t have any sources to depend on when their investment ends up as a failure. However, for me, as long as my finances are not yet stable and my earnings are not yet enough to ensure my future, then I would always keep my job and leave bitcoin investment as my side hustle. But for some who already made huge earnings that will ensure the future of their family, I guess there’s no reason to stick to their job.

That is a very risky decision leaving your job in exchange for your investment. There’s no guarantee that bitcoin investment will give you sustainable amount of income, and it’s not that you will be profitable every time you invest. Remember that there are inevitable losses in any type of investment, most particularly for a highly volatile market that makes the price of bitcoin crash anytime. So it will create a lot of pressures in your part if you focus on bitcoin for survival, at least you have a stable job to give you fixed amount of income and a side hustle that adds more income to your main job.

Investing in bitcoin completely will not provide stable profits, maybe at this time it will provide more profit than your job salary but sometimes where we will feel a loss and that is something that must be reconsidered, so by leaving the job you are doing and then jumping into bitcoin investment completely or any trade is not a good idea and of course with you working you can still earn a stable salary.

Maybe this word is the most appropriate where bitcoin is only limited to the side as a job that he does in his spare time from work, my assumption will be the same work is important to prioritize while crypto trading and bitcoin investment must be made on the side.

I will not stop working, I will continue to do it or the business that is running, so I will not be full-time in bitcoin, it is only an investment. When there is more money, I will put some in bitcoin as a long-term investment.

You can reconsider which one is best for you, of course there will be different thoughts where you can get bored in your work.

Right now I have not considered Bitcoin investment as full-time stuff but rather I consider it as a side hustle because I still have a whole other stuff that I'm engaged with that is fetching me some money, however if I should do such in the future , It really depends on the amount of results that I have gotten or will be getting that will determine me giving it more attention and to consider making it in full time endeavor.

Having more sources of income is a great thing.  It will secure our finances and we are able to meet our daily needs and more possibly with an extra left in hand.  If you think you need more time for trading, you can always buy a  trading bot to trade for you while you are in your day job.  Diverse source of income will ensure us of source of fund when one of our sources is not performing well.  So I would advice you @OP to keep your job and save to buy a trading bot so that it will perform the trading for you 24/7.

This question is regularly posed in this section of the forum, and the responses are always the same.

Your job is secure, and you have a consistent income that you can rely on for your own living expenses and upkeep, but trading is an investment that depends on market movement to determine your return.

The advise is always the same: keep working and keep Bitcoin or cryptocurrency trading as a side hustle so that you can add capital to your trading portfolio from your monthly earnings.

I would agree to this. Yes, bitcoin investment profits is way bigger compared to what we usually earn from our day job but seeing it’s not consistent and sustainable, then it’s not enough to quit our job and just turn to bitcoin for our main source of income. It will always be a side hustle for me, so that in times of losing, at least my finances will not easily ruined because I still have my own job that gives me fixed amount of income. However, if we can do both to see growth in our finances, that would always be possible. We need to keep our job in order to finance our bitcoin investment or any type of investment that we have desires to enter into.