friend I want to invest short term in bitcoin and crypto. to meet their living a - page 2.

Bitcoin2009

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Quote from: Smartprofit on November 03, 2022, 08:15:26 AM

Quote from: Bazzu on October 28, 2022, 09:17:02 PM

a friend of mine came to me and he asked, is it possible to invest in bitcoin and crypto for the short term,? which is to meet daily needs, and I am confused to answer because I am still a beginner in bitcoin and crypto. and I want to ask everyone about it?

No, Bitcoin is not meant for short-term speculation.

With a high degree of probability, your friend will not be able to buy a cryptocurrency cheaper, but sell it more expensive.

Currently, we are seeing a bearish trend in the price movement of Bitcoin and other cryptocurrencies. In this situation, any purchases can bring a loss (instead of a profit).

Another thing is if your friend is ready for long-term investments.....

Then the present time is a very good moment to buy the first cryptocurrency.

True, bitcoin is not a place to double money in a short time, it looks simple but the fact is that many people are crazy for losing money from bitcoin, it's better to use money that we can consider lost when investing in bitcoin so that if something bad happens then we don't cry or go crazy.

Doan9269

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Quote from: Bazzu on October 28, 2022, 09:17:02 PM

a friend of mine came to me and he asked, is it possible to invest in bitcoin and crypto for the short term,? which is to meet daily needs, and I am confused to answer because I am still a beginner in bitcoin and crypto. and I want to ask everyone about it?

Good question, being a beginner it is very important to note that starting an investment eith bitcoin is the most preferred advise you can get from this forum because it set you on a safer edge from other fraudulent source of investment that many get involved and end in disappointments, bitcoin investment is not what you can be getting a daily return on your investment each day as profits as other cryptocurrencies or centralized exchanges do promise, all you need is to invest and hold for a longer time of two or more years for you to realize a rise from the initial buying price to a new all time high value before you can then sell and realize your profit, this means you buy the dip and sell high whenever it surges, bitcoin isn't like other ponzi schemes, it's a currency and an asset you could rely on it future profitability, i would have also advise you go for trading but since you're a newbie this could be more dangerous to you because you may equally end up loosing since you don't know how to do so.

AicecreaME

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Quote from: Bazzu on October 28, 2022, 09:17:02 PM

a friend of mine came to me and he asked, is it possible to invest in bitcoin and crypto for the short term,? which is to meet daily needs, and I am confused to answer because I am still a beginner in bitcoin and crypto. and I want to ask everyone about it?

That's impossible unless he'll trade it on futures and get lucky all the time. Generating profits by merely holding it and hoping to earn profits to sustain their daily needs is not possible, I think they would only feel depress especially we're in a bearish market. Starting a small business is much more a great idea to generate income while they are making their capital go big, nonetheless, it's all about risking.

jcojci

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Quote from: Bazzu on October 28, 2022, 09:17:02 PM

a friend of mine came to me and he asked, is it possible to invest in bitcoin and crypto for the short term,? which is to meet daily needs, and I am confused to answer because I am still a beginner in bitcoin and crypto. and I want to ask everyone about it?

It's possible for that but I'm not sure if it can meet your daily needs because that means you should be able to make a profit every day. And that's not investing because as far as I know, investing requires a time where the money we use to invest is not used for other things.

But if your friend wants to fulfill his daily needs, it is not investing but trading and it is possible to make a profit every day. You better suggest that he should learn about trading before starting to trade because it's not as easy as we imagine.

yhiaali3

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Of course, bitcoin can be traded in the short term, but the profits will be few because the price of bitcoin is somewhat stable in the daily term. As for trading in the long term, you will get double profits several times, if your capital is small, you will make only a little profit in daily trading. If you want to increase profits, you have to increase the capital, or you can trade in coins other than Bitcoin that have a low price and high volatility.

boyptc

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I have calculated to put bitcoin into an interest account of centralized platforms, the first cons of it is that it's highly risky. Yeah, it's interesting and happy to see that you're gaining profit but at the same time, the risk is there.

It may take time until someone will earn bitcoin a living if he's just starting out. There are many ways of doing it for a living, like those miners and traders.

CageMabok

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Most people think that bitcoin and cryptocurrencies are fast ways to be rich, even many people sell assets such as homes, cars or others for investment bitcoin, but when the red market like now then they panic and think that bitcoin is a scam project and think that cryptocurrencies are dangerous investments.

From yesterday until today I no longer see a red market except only with green, and if you still think about a red market. Try visiting the market today and see how many cryptocurrencies have gone up and are green. People who think bitcoin is a scam project only because the market is colored red.

It is people who do not understand Bitcoin and also their minds are so short that they will never think in the long term because of their dedication to getting rich faster. But he doesn't think it's nearly impossible to get in the crypto space.

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Quote from: Bazzu on October 28, 2022, 09:17:02 PM

a friend of mine came to me and he asked, is it possible to invest in bitcoin and crypto for the short term,? which is to meet daily needs, and I am confused to answer because I am still a beginner in bitcoin and crypto. and I want to ask everyone about it?

the price of bitcoin is very volatile, (become a short-term / day trader) it is still possible for your friends to take advantage of it to make a quick profit but remember, just one wrong step can make your friend lose his money.

there is one more way. although it is risky but the income from staking can be tried even though it is very small, if your friends have a lot of bitcoins, the reward distribution can be large.

you better explain to your friend to make Bitcoin as a long-term investment, he's better off looking for outside income and investing in bitcoin for the long term.

Swordsoffreedom

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Not only bitcoin but I dare to assure you that there is no single investment that can meet your daily needs on a regular basis. If there is such an investment channel, I think people will not have to go to work early in the morning and come home late at night.

Bitcoin is like other financial investment markets, profits and risks go hand in hand, not everyone has the ability to make money from it. To invest in bitcoin first of all your friend needs to have a stable job and some savings to invest. For a beginner making profit with bitcoin will take a lot of time, bitcoin is not a get-rich-quick thing.

hyudien

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Quote from: Bazzu on October 28, 2022, 09:17:02 PM

a friend of mine came to me and he asked, is it possible to invest in bitcoin and crypto for the short term,? which is to meet daily needs, and I am confused to answer because I am still a beginner in bitcoin and crypto. and I want to ask everyone about it?

Looking for profits in crypto especially Bitcoin in the short term in my opinion is not very effective. But maybe if your friend understands spot trading with all the good strategies, that's fine. Or trying to trade Futures? Unfortunately, everything that is targeted in the long term, especially just to satisfy needs, is not the right place because it has a higher prestige. In addition to the risk, in the end your friend will meet a deadlock and it can be a loss.

Crypto Legend

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Quote from: Smartprofit on November 03, 2022, 08:15:26 AM

Quote from: Bazzu on October 28, 2022, 09:17:02 PM

a friend of mine came to me and he asked, is it possible to invest in bitcoin and crypto for the short term,? which is to meet daily needs, and I am confused to answer because I am still a beginner in bitcoin and crypto. and I want to ask everyone about it?

No, Bitcoin is not meant for short-term speculation.

With a high degree of probability, your friend will not be able to buy a cryptocurrency cheaper, but sell it more expensive.

Currently, we are seeing a bearish trend in the price movement of Bitcoin and other cryptocurrencies. In this situation, any purchases can bring a loss (instead of a profit).

Another thing is if your friend is ready for long-term investments.....

Then the present time is a very good moment to buy the first cryptocurrency.

Right, I do not agree if investment in Bitcoin is the short term, if I can get profit in the short term then I'm sure the opportunity for long -term hold is better and promising. If the short term can profit 100% then the long term can profit 1000%.

Cookdata

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Quote from: Bazzu on October 28, 2022, 09:17:02 PM

a friend of mine came to me and he asked, is it possible to invest in bitcoin and crypto for the short term,? which is to meet daily needs, and I am confused to answer because I am still a beginner in bitcoin and crypto. and I want to ask everyone about it?

The market right now is bad, there is no crypto you will invest in right now that will give you a short-term profit, to be honest, but if your friend is willing to risk it, now is the time to buy bitcoin, the market is down with an opportunity to buy at low price.
I'm concerned about your friend about invest in bitcoin and expecting to have profits to meet daily needs, bitcoin doesnt work that way, you should do more research and teach him the basics though there are people who invest in Alts coin and stake them and have them withdraws the reward, of course, your capital have to be huge, the more you stake, the more reward you have as passive income but I don't like Altcoins because highly volatile, the teams can rug pull and runaway and possible hack attempt.

Darker45

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I'd just go with a straight no. We've seen the price of Bitcoin fell from $20,000 all the way to $3,000. It wasn't until 2 years later that it was able to get back to that price. A year ago, the price was a little shy of $70,000. Today, it is only around $20,000. That's around 70% lower. Although one can possibly make money in the middle of it, I'm afraid nobody is so good in short term buy and sell or trading that losses are totally avoided. And since market recoveries could take a while and expenses are always on a daily basis, it's simply not possible to just rely on its profit.

kro55

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Quote from: Smartprofit on November 03, 2022, 08:15:26 AM

Quote from: Bazzu on October 28, 2022, 09:17:02 PM

a friend of mine came to me and he asked, is it possible to invest in bitcoin and crypto for the short term,? which is to meet daily needs, and I am confused to answer because I am still a beginner in bitcoin and crypto. and I want to ask everyone about it?

No, Bitcoin is not meant for short-term speculation.

With a high degree of probability, your friend will not be able to buy a cryptocurrency cheaper, but sell it more expensive.

Currently, we are seeing a bearish trend in the price movement of Bitcoin and other cryptocurrencies. In this situation, any purchases can bring a loss (instead of a profit).

Another thing is if your friend is ready for long-term investments.....

Then the present time is a very good moment to buy the first cryptocurrency.

Day trading is also considered a short-term investment but unfortunately his friends and he are all newbies. They have no knowledge of day trading so they cannot make profits in the short term and day trading is also very risky and not everyone can make a profit from it.

Whether you invest for short term or long term, cryptocurrency investment should not be considered as the main source of daily income for your family as there is no guarantee that you will always be profitable on your investment. Only invest when you have a stable job with enough income for your family and only invest with idle money. Remember that investing is just a side business to earn extra income or save for the future.

xSkylarx

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Quote from: Techkoy407 on November 03, 2022, 08:00:45 PM

Quote from: Bazzu on October 28, 2022, 09:17:02 PM

a friend of mine came to me and he asked, is it possible to invest in bitcoin and crypto for the short term,? which is to meet daily needs, and I am confused to answer because I am still a beginner in bitcoin and crypto. and I want to ask everyone about it?

if for daily it seems to be difficult, especially if the capital used is not too much, surely the level of profit is also not much.
but if you use a fairly large capital, it might be possible, but I suggest just bitcoin, not other cryptos.

No, it is not just about the capital or money you'll be investing. No matter how much or how little you invest, without proper knowledge, it won't work at all, and you will lose all that money. Bitcoin is not like other simple businesses where you set up shop, hire a manager, and then your business is up and running. In this field, you need first to have knowledge and also to know what kind of investment you'll be doing, such as trading or just holding your coin. Without any knowledge, you'll just be basing your decisions on your gut, which could lead to losses.

Techkoy407

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Quote from: Bazzu on October 28, 2022, 09:17:02 PM

a friend of mine came to me and he asked, is it possible to invest in bitcoin and crypto for the short term,? which is to meet daily needs, and I am confused to answer because I am still a beginner in bitcoin and crypto. and I want to ask everyone about it?

if for daily it seems to be difficult, especially if the capital used is not too much, surely the level of profit is also not much.
but if you use a fairly large capital, it might be possible, but I suggest just bitcoin, not other cryptos.

tvplus006

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Quote from: Bazzu on October 28, 2022, 09:17:02 PM

a friend of mine came to me and he asked, is it possible to invest in bitcoin and crypto for the short term,? which is to meet daily needs, and I am confused to answer because I am still a beginner in bitcoin and crypto...

Being a beginner, you will not be able to invest your money correctly, much less receive a daily income that would meet your needs. As in any business, knowledge and experience are needed to get a decent income. In the absence of the necessary skills, your money will be lost.

D ltr

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seeing the current situation it is very difficult if you want profits in the short term especially in limited quantities tend to be below 50% of the crypto price that we want to invest in, but it is possible for all, if you have a large enough capital at least 1 BTC I think you can get profits and be used in everyday life but with a note that the profits obtained are not maximized like we invest long term, this is just an opinion not to be applied because the situation out there is sometimes difficult to predict

Smartprofit

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Quote from: Bazzu on October 28, 2022, 09:17:02 PM

a friend of mine came to me and he asked, is it possible to invest in bitcoin and crypto for the short term,? which is to meet daily needs, and I am confused to answer because I am still a beginner in bitcoin and crypto. and I want to ask everyone about it?

No, Bitcoin is not meant for short-term speculation.

With a high degree of probability, your friend will not be able to buy a cryptocurrency cheaper, but sell it more expensive.

Currently, we are seeing a bearish trend in the price movement of Bitcoin and other cryptocurrencies. In this situation, any purchases can bring a loss (instead of a profit).

Another thing is if your friend is ready for long-term investments.....

Then the present time is a very good moment to buy the first cryptocurrency.

salad daging

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It is difficult to rely on profits from crypto just for daily needs while he is still a beginner of course he does not know about many skills in getting involved in crypto how to do it so you better tell him that investing in crypto is too risky and income cannot be determined from short term unless he understands day trading to do so.

If it's for daily needs, it's better to work it will be sufficient income for daily living expenses compared to relying on those who don't know what to do, so for me it's better to invest long-term in bitcoin it's more suitable for beginners because of all they do with bitcoin investment is while learning about their process so far in crypto.

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