Can One Actually Do Crypto Trading As A Living? - page 5.

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Quote from: Chato1977 on August 29, 2022, 10:36:54 PM

Quote from: Sunrise360 on August 28, 2022, 08:18:32 AM

I've heard of many people talk about cryptocurrency and its potentials all the time and at a point I begin to wonder if one can just depend fully on cryptocurrency as a means of livelihood.

it can be , if you are a full time trader and totally understand the market? then I see no issue on why you can sustain your living using trading platform and exchange.
(....)

This is still difficult. This is a very long process, and it will take you more time but if you are consistent and dedicated, it will help you to achieve those.
Not always is a good experience when you are trading. There are already a lot of traders who became bankrupt or did stop trading because of their losses.
That's why if you want to do trading as a living, you must become dedicated and consistent, it's not a joke, you need to sacrifice.

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Quote from: Sunrise360 on August 28, 2022, 08:18:32 AM

I've heard of many people talk about cryptocurrency and its potentials all the time and at a point I begin to wonder if one can just depend fully on cryptocurrency as a means of livelihood.

Cryptocurrency trading is definitely a hot topic for many people to talk about these days. But whether it's actually possible to make a living, or if you'd rather find something else you can do for money, remains undetermined. It might work for some people, but there are many other factors to consider.

Cryptocurrencies are not going to be the best way to trade right now. There are many great ways to make money, but this one has many limitations and takes a lot of time. I suggest starting with altcoins okay too, don't put all your investment up front. After all, Crypto is a painstaking job and has an impact on your Psychology.

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Quote from: Sunrise360 on August 28, 2022, 08:18:32 AM

I've heard of many people talk about cryptocurrency and its potentials all the time and at a point I begin to wonder if one can just depend fully on cryptocurrency as a means of livelihood.

it can be , if you are a full time trader and totally understand the market? then I see no issue on why you can sustain your living using trading platform and exchange.
but this will always depend on how you deal with it and how you will function as a trader and not a kind of person that totally greedy .
there are some of my friends that resigned in their respective jobs and now dealing only in crypto trading and yes, they are successful.

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Quote from: blockman on August 29, 2022, 07:49:04 PM

Quote from: seleme on August 29, 2022, 05:20:00 PM

Only top 1% may live with profit of crypto trading but it is still debatable how long it can go like that. Very hard to predict volatile crypto markets and almost impossible to get constant ROI after so many scam exits, fake projects, stop hunting market makers. I know some full-time traders who make living with forex trading that been way more predictable compared to wild crypto industry. So 95% of YouTubers don't live with crypto trading funds as they advertise on channels, IMHO.

I think you may increase that percentage but won't still be that high. It's true that there could be some that are possible to live with their crypto profits in trading. But I can imagine how hard it is that you don't know how much you're going to earn and will depend on your trades. What if the day isn't that good and you're into losses, and it's also possible that you may have bad days and will put you into losing streak. If you're a family man, you'll have hard days if you're just trying it out and testing. Trading is a wild ride and there's more percentage losing than winning.

It depends though since every traders have their own different strategy and making it as a money for living might take for a while since you don't know your strategy well yet. Some are trading for almost 1 to 3 years before they could make a living, I mean they could make money from trading after a long time of trading while losing at the same time. It's a long process if you ask but you will get there eventually just trust the process. Everyone experience like that but it pays off in the end.

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Quote from: seleme on August 29, 2022, 05:20:00 PM

Only top 1% may live with profit of crypto trading but it is still debatable how long it can go like that. Very hard to predict volatile crypto markets and almost impossible to get constant ROI after so many scam exits, fake projects, stop hunting market makers. I know some full-time traders who make living with forex trading that been way more predictable compared to wild crypto industry. So 95% of YouTubers don't live with crypto trading funds as they advertise on channels, IMHO.

I think you may increase that percentage but won't still be that high. It's true that there could be some that are possible to live with their crypto profits in trading. But I can imagine how hard it is that you don't know how much you're going to earn and will depend on your trades. What if the day isn't that good and you're into losses, and it's also possible that you may have bad days and will put you into losing streak. If you're a family man, you'll have hard days if you're just trying it out and testing. Trading is a wild ride and there's more percentage losing than winning.

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Quote from: Vaculin on August 29, 2022, 06:55:19 PM

Quote from: Sunrise360 on August 28, 2022, 08:18:32 AM

I've heard of many people talk about cryptocurrency and its potentials all the time and at a point I begin to wonder if one can just depend fully on cryptocurrency as a means of livelihood.

There are those who made remarkable success trading with crypto but for sure, they never reached that point instantly. They gained lot of losses at first, before they attained crypto as a good source of living. However, trading also has its own risks, if you’re not skilled and do not have proven strategies that will work, better leave trading as a side income. Find another stable job that gives good compensation, so that if crypto fails to provide profits, at least you have your own job to sustain your family’s needs.

Trading is a learning process. You need to keep yourself updated and the same gives you the best result in the long term. Being a trader isn't an easy thing, because you need lots of patience as well as the fund to withstand when things don't work as predicted. With trading one can make regular earning, but the same doesn't generate regular earning. Someday it can end with loss, someday it can bring big profit. So, it is good to have a job that brings you stable earning and do trading partly. At some point you'll realise that you can make regular earning. Maybe by that time you can concentrate completely on trading.

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In my opinion, it is possible.
But this is not easy, high risk, and will give some pressure on your life.
Your life will be changed into something very new, regular, tight, and also risky. When you put trading as your full-time job and set the earnings for life, it means that you must focus 100% on trading crypto. This also means that you must be a professional trader, not only temporary tarder. Here, you must do learning much more about crypto, trading, and also other knowledge, more than the basic one. This is not easy, many professional traders must pass the process very hard. SOme are responsible and survive the process until continuing as a day traders. But some give up because f the tight activities and high risks. However at least, you must have your own saving for your daily needs befre full time in crypto for living

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Quote from: Sunrise360 on August 28, 2022, 08:18:32 AM

I've heard of many people talk about cryptocurrency and its potentials all the time and at a point I begin to wonder if one can just depend fully on cryptocurrency as a means of livelihood.

There are those who made remarkable success trading with crypto but for sure, they never reached that point instantly. They gained lot of losses at first, before they attained crypto as a good source of living. However, trading also has its own risks, if you’re not skilled and do not have proven strategies that will work, better leave trading as a side income. Find another stable job that gives good compensation, so that if crypto fails to provide profits, at least you have your own job to sustain your family’s needs.

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Quote from: Sanitough on August 29, 2022, 05:36:11 PM

Quote from: Sunrise360 on August 28, 2022, 08:18:32 AM

I've heard of many people talk about cryptocurrency and its potentials all the time and at a point I begin to wonder if one can just depend fully on cryptocurrency as a means of livelihood.

It depends on his own skills and capabilities. If he is a professional trader and knows the best entry and exit in trading, then most likely he will make a good living with crypto. But as an advice, no matter how good you are, trading has its always associated risks and the market is not always good to trade. If you can find other job opportunities in crypto, that will be a lot better so you can have multi sources to generate an income.

It is best to have multiple sources of income rather than just relying solely upon crypto trading.
I have a friend working as a trader and he really makes money from this but he also said that not all the time he is in profit. And he adds that earning every day is not impossible if you are spending a lot of time in trading and more capital - he is actually good at this that is why he can say that.

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Quote from: Sunrise360 on August 28, 2022, 08:18:32 AM

I've heard of many people talk about cryptocurrency and its potentials all the time and at a point I begin to wonder if one can just depend fully on cryptocurrency as a means of livelihood.

^ Probably.
Why? Because this will upon the trader's skills if it is a professional trader which is can able to make a profit on trading then, possibly there is can able to do trading for a living. Trading is not good a full-time job there is no assurance and accuracy of generating a profit and possible you will have an unstable source of income which makes ruin your life in the future. Even myself, I will never do this thing, it will rather good if you have a stable job than a full-time trader.

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Quote from: Sunrise360 on August 28, 2022, 08:18:32 AM

I've heard of many people talk about cryptocurrency and its potentials all the time and at a point I begin to wonder if one can just depend fully on cryptocurrency as a means of livelihood.

It depends on his own skills and capabilities. If he is a professional trader and knows the best entry and exit in trading, then most likely he will make a good living with crypto. But as an advice, no matter how good you are, trading has its always associated risks and the market is not always good to trade. If you can find other job opportunities in crypto, that will be a lot better so you can have multi sources to generate an income.

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Only top 1% may live with profit of crypto trading but it is still debatable how long it can go like that. Very hard to predict volatile crypto markets and almost impossible to get constant ROI after so many scam exits, fake projects, stop hunting market makers. I know some full-time traders who make living with forex trading that been way more predictable compared to wild crypto industry. So 95% of YouTubers don't live with crypto trading funds as they advertise on channels, IMHO.

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Quote from: freedomgo on August 29, 2022, 04:32:05 PM

Quote from: goaldigger on August 28, 2022, 09:23:26 AM

Quote from: Sunrise360 on August 28, 2022, 08:18:32 AM

I've heard of many people talk about cryptocurrency and its potentials all the time and at a point I begin to wonder if one can just depend fully on cryptocurrency as a means of livelihood.

Yes, crypto is not about trading because there's a lot of ways in cryptomarket where you can actually earn more which I have so many friends who are full time in cryptocurrency activities, they do trading, bounty and even managing a social account and they will get paid by that. You can only achieve this level once you already have good knowledge about cryptocurrency and same thing with trading, experience and trading is the key so if you are a newbie don't rush yourself to do full time, have some experience first and soon if you are already good enough, you can do full time in crypto, this will also depend on your dedication.

Relying alone on crypto trading for your livelihood is very much risky to think as the market won’t always be suitable to trade. However, if you also have skills aside from crypto trading as there are a lot of crypto jobs offered in the crypto world, then I must say that you will really make a good living until cryptocurrency is living its demand. But I suggest if possible, go and get a stable job first so that no matter what happens in crypto, your finances will never be affected completely.

Same thought, Earning everyday by trading to fulfill the needs of your everyday life is just too risky. Having a stable income that at least supports your daily finances is a must. Just by relying on trading would make your life uncertain unless you are a really good trader that used to trade everyday and can support your life depending on it. Doing crypto trading as a living is a hard thing to do but it isn't impossible, There are many who are doing it but those has a good competitive trading skills. But if you are a newbie that just saw the potential of it and thinks that you should do it, Please no.

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Yes and no. The fact is, it depends on a lot of factors. Such as marital status. Number of dependents. Years of experience. I have seen single young folks who hit it big trading crypto and were able to buy nice cars. But this is not in my opinion sustainable in the long run if the factors I mentioned above is put into consideration. You need to have attained a level of expertise to live on it.

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Quote from: goaldigger on August 28, 2022, 09:23:26 AM

Quote from: Sunrise360 on August 28, 2022, 08:18:32 AM

I've heard of many people talk about cryptocurrency and its potentials all the time and at a point I begin to wonder if one can just depend fully on cryptocurrency as a means of livelihood.

Yes, crypto is not about trading because there's a lot of ways in cryptomarket where you can actually earn more which I have so many friends who are full time in cryptocurrency activities, they do trading, bounty and even managing a social account and they will get paid by that. You can only achieve this level once you already have good knowledge about cryptocurrency and same thing with trading, experience and trading is the key so if you are a newbie don't rush yourself to do full time, have some experience first and soon if you are already good enough, you can do full time in crypto, this will also depend on your dedication.

Relying alone on crypto trading for your livelihood is very much risky to think as the market won’t always be suitable to trade. However, if you also have skills aside from crypto trading as there are a lot of crypto jobs offered in the crypto world, then I must say that you will really make a good living until cryptocurrency is living its demand. But I suggest if possible, go and get a stable job first so that no matter what happens in crypto, your finances will never be affected completely.

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Quote from: el kaka22 on August 29, 2022, 03:26:44 PM

If we say "one" then it becomes a very easy question. Yes "one" can do it, but who? I can't tell you to pursue this as a business idea and start being a full-time crypto trader because you could be an amazing one or you could be a horrible one, how would I know? I have tried it before, studied a lot, and learned as much as I can and did trading for a year, and I found out that long term holding was always better for me and easier way of making money.

This is why I do not think that we should be focusing that much on trading, it is just not worth it for me. But I also know people who made tons of profit from it as well and living a great life, doesn't mean one is right and the other is wrong.

You wouldnt know unless you try and that the key for you to answer up your own question whether it would turn out to be easy or very tough which is almost close to impossible.
We can do make trades but due to unpredictability of the market then it would really be that hard to be done but actually there are people who do able to make trading as their living.
Although these are people who do have some experience and that have skills which you could really able to rely on but not all would able to attain it.
Some might be thinking that it is really easy to attain these stuffs but its not imho.

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If we say "one" then it becomes a very easy question. Yes "one" can do it, but who? I can't tell you to pursue this as a business idea and start being a full-time crypto trader because you could be an amazing one or you could be a horrible one, how would I know? I have tried it before, studied a lot, and learned as much as I can and did trading for a year, and I found out that long term holding was always better for me and easier way of making money.

This is why I do not think that we should be focusing that much on trading, it is just not worth it for me. But I also know people who made tons of profit from it as well and living a great life, doesn't mean one is right and the other is wrong.

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Quote from: Sunrise360 on August 28, 2022, 08:18:32 AM

I've heard of many people talk about cryptocurrency and its potentials all the time and at a point I begin to wonder if one can just depend fully on cryptocurrency as a means of livelihood.

I want you to understand that not everything you read or watch online is always true and if it's true they are always hyped. Besides, people always say the sweet aspect of cryptocurrency and they won't tell you the price they have to pay before getting a good result.

Having said that, you can depend on cryptocurrency as a means of livelihood but you can't solely depend on crypto trading due to the market's up and down trend. Besides, if we look into the world economy and the nature of the world we live in doing a single job cant provide for all the basic and other important needs.
if you can develop another skill with crypto trading, yes you'll be fine using crypto as a means of livelihood.

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Quote from: Sunrise360 on August 28, 2022, 08:18:32 AM

I've heard of many people talk about cryptocurrency and its potentials all the time and at a point I begin to wonder if one can just depend fully on cryptocurrency as a means of livelihood.

Think about it this way, there is a stock market and people are trading on it. Does that mean they are so competent that they can depend fully on it or are such people living in constant anxiety and depression while coping with increasing debts?

This should not be the case here, we all want to live in a healthy manner and for that a source of stable income, possibly a day job has its importance. Second to that one needs to allocate money to saving and spending, in the spending group decide how to much spend on investments and that is how you should manage your money.

Going all in on crypto and following it as the source of your daily bread is a risky move to make.

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Quote from: Sunrise360 on August 28, 2022, 08:18:32 AM

I've heard of many people talk about cryptocurrency and its potentials all the time and at a point I begin to wonder if one can just depend fully on cryptocurrency as a means of livelihood.

No, you can't. Although some traders have been good at trading and make it as a source of living, however, they don't just also rely upon everything with this. It was still the best option to have other sources of income if possible just to be sure that everything is fine when there are terrible cases happening in the market. I certainly don't buy people saying it was enough and guaranteed profit for we know that all the time the market gives us a favor and not all traders are also working well.

While some of those traders made it source of live earning, it's because their is no government empowerment, because if assume their is empowerment or a vital jobs opportunities many people wouldn't have taken trading as a means of surviving. But even though trading of cryptocurrency is anything they know via live, i think that they have to diversified their source of getting income because the risk which involve in trading determine the rate of it.

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