Hundred bucks actually is enough. But if you want to maximize your profits, of course you have to make your capital big also. Day trade is profitable. But long trade will make your money grow safer. Slowly but surely. Also day trade is more risky. It's up to you what strategy you want to do. But before you jump to cryptocurrency trading. Make sure you already learn how to do it and learn how to analyze things. Hundred bucks is a good start since you are a newbie. It's important also to have discipline coz it will surely test your emotions. Remember, only use amounts that you can afford to lose. Trading is like
gambling but if you have knowledge, it can give $$$
I don't think day trading is profitable and effective, especially in cryptocurrency trading. In fact, cryptocurrency's volatility makes day trading in cryptocurrency difficult and unproductive. Cryptocurrency price barely move in a day. For example, in average, bitcoin price usually move by a margin of 1% to 5% in a regular day (exemption in days when forking is happening). This means that if you invest $200 in bitcoin and do the day trading, then the possibility that you'll gain or lose a maximum of $10.
Long-term investment and trading is still the ideal thing to do in crypto-trading. The value of cryptocurrencies are expected to get more volatile especially that there are a lot of new tokens and coins created by developers.
It is really not like it is effective, it just have some certain moments which you always need to watch out for in the aspect of the volatility. I day traded for a while but because of the time, I had to switch to long term trading. Day trading can help you to even grow little money faster though much more risky, but if done well, you can be making much more than loosing.
However, if you have some plenty bucks to trade with, long term trading or just holding is less stressful and very profitable too without having to do with making so many decisions all at once.
