friend I want to invest short term in bitcoin and crypto. to meet their living a - page 3.

arwin100

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Quote from: savetheFORUM on November 03, 2022, 04:54:40 AM

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If you're about a passive source of income, Bitcoin can't guarantee that. You should enlighten your friend about the risks of cryptocurrency investment. Bitcoin is volatile and its price can drop and rise anytime and that is unpredictable so relying on our daily needs on it will not be a good idea. It's possible that you can make a profit from it but in the current market condition, the short-term will not be a wise idea. Your friend should do continuous research about how Bitcoin works as an investment.

Investing is passive. This is also more guaranteed because the price of btc can always recover and rise if given an adequate time but this isn't the one that op needs. Op needs something that are active just like trading and btc can be a perfect coin for this since it is highly volatile but he might need to learn and practice trading first if he is a complete noob.

In the meantime, he can look for other less/non risky ways to earn like finding a real job to sustain his needs and he can use some of his salary to practice trading at the background. He can also add investing on the side so that he can get something in case he didn't succeed in trading.

But for taking it as means of income to get your daily needs here maybe you get disappointed or get hungry because we don't know what will be the outcome and there are times that we lose if the price goes dump. So maybe we should invest only an extra money for this and never rely to get food on our tables because bitcoin investment is meant for long term to see a better result.

savetheFORUM

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If you're about a passive source of income, Bitcoin can't guarantee that. You should enlighten your friend about the risks of cryptocurrency investment. Bitcoin is volatile and its price can drop and rise anytime and that is unpredictable so relying on our daily needs on it will not be a good idea. It's possible that you can make a profit from it but in the current market condition, the short-term will not be a wise idea. Your friend should do continuous research about how Bitcoin works as an investment.

Investing is passive. This is also more guaranteed because the price of btc can always recover and rise if given an adequate time but this isn't the one that op needs. Op needs something that are active just like trading and btc can be a perfect coin for this since it is highly volatile but he might need to learn and practice trading first if he is a complete noob.

In the meantime, he can look for other less/non risky ways to earn like finding a real job to sustain his needs and he can use some of his salary to practice trading at the background. He can also add investing on the side so that he can get something in case he didn't succeed in trading.

Ryu_Ar1

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First, I might remind you that short-term investment is an investment that has a shorter time, but even though this is said to be short-term, the time period for this short-term investment if we refer to the existing guidelines is less than 1-2 years.
And in this case we see a comparison of what you said about wanting to meet daily needs with investments, this is clearly very difficult to do, especially when referring to the word beginners.
you may be able to be in bitcoin for a certain amount of time but expect a large return in that period of time, especially for example with a capital that is not too large, obviously this is still difficult to realize even though it is still possible to make a profit there because bitcoin is definitely one of the good things to do investment.

Adbitco

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There's no certainty about meeting his daily needs because there is no daily revenue which could come out besides we are still in the bear market neither do short term investment help you. I believe investment for long term would yield more value than daily perhaps if you invested few years ago then by today you would have gotten your returns.
Otherwise I can say doing daily scalping would be the best for him at least with little amount of bitcoin will help you out to meet your daily needs.

xSkylarx

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Straight no! Even when you do trading, there are still days that you can't gain profit. Earning bitcoin can't be done daily; it would take time, and if you are lucky, you can gain huge profits on it; that is the time that it can cover your daily needs for a few months or even years. Earning bitcoin is not like your typical job, that by the end of the day, you are guaranteed you earned money. It will take time and effort from you. Just think that bitcoin is like a business; we are curious if it would be profitable over time or if your strategy is working. Earning money in a short period could lead to more losses of money.

uneng

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The only way to invest on short run for daily gains in order to meet with daily appointments and expenses is to invest a large sum of money in bitcoin and deposit it in a lending/investment platform for passive income which can be paid in a daily basis or every month or few months, depending the modality of investment of your preference.

However, it is not possible to rely on daily trading for a living, because it is like gambling, since the market is highly unpredictable on short run. A short sequence of bad moves can lead a trader to severe losses in few days, so just trade with money you can afford to lose. Never use money you will need later for your basic needs.

YOSHIE

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

is it possible to invest in bitcoin and crypto for the short term,?

Anda tidak perlu bingung untuk mengatakan kepada teman anda itu tentang investasi Bitcoin/crypto.
You can tell your friend, especially about the risks of investing in the crypto market, before your friend fantasizes about profits, especially to cover their daily needs.

The bottom line: investment can be divided into three parts, generally speaking and crypto users often talk about that: long-term, short and medium-term investments, of course the three methods are different to generate a good economy or profit.
Just take points, for the category of short-term investment.
• In the short-term investment method you can suggest for your friends to take a minimum period of one year, that's the shortest, short method when compared to other investments, Of course, the profit is likely to be very small when compared to other types of investment, for that if your friend wants to boost the economy in a short-term method, for example per day / week or month I am sure your friend will be disappointed, it is unlikely that he can cover the economy in the crypto world.

But if your friend does the trading method, it's most likely to cover his daily needs, on the condition that your friend has expertise in the field of crypto trading and also considers the risks that can occur at any time.

Jody.Drummer

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Quote from: cozytrade on October 30, 2022, 11:15:40 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?

If you are thinking about making a daily income to bear your living expenses, then the only option is scalping. This method can provide your friends enough to make a living if he has a decent amount of investment. Scalping is extremely risky and meant to be for professionals only. Your friends could lose all their funds without enough knowledge and market understanding.

As you have mentioned you are a beginner so it will be wise to observe the market and do a demo trade to understand trading charts. Though scalping is for daily traders still you should keep in mind that you won't be able to make profits every day so you should not overtrade.

It is very difficult to do scalping especially for a beginner. Maybe if I were the one who was asked like that I would say there is no shortcut to getting money that easy. Scalping is one of the trading methods, but I would say it is specifically for people who are experienced and can be called professionals in that regard. I personally as a person who can be said to have been in the trading world for a long time sometimes still finds it difficult to analyze market conditions when I want to start scalping. For beginners, it is not impossible to do but it is a very high risk.

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If you're about a passive source of income, Bitcoin can't guarantee that.

Even a daily active income from day trading can't be guaranteed by Bitcoin.

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You should enlighten your friend about the risks of cryptocurrency investment. Bitcoin is volatile and its price can drop and rise anytime and that is unpredictable so relying on our daily needs on it will not be a good idea.

True that the volatility of Bitcoin actually gives an opportunity to earn profit daily but it would be extremely difficult to profit from day trading Bitcoin every day. Sometimes times traders will face bad trades.

Quote from: cozytrade on October 30, 2022, 11:15:40 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?

If you are thinking about making a daily income to bear your living expenses, then the only option is scalping. This method can provide your friends enough to make a living if he has a decent amount of investment. Scalping is extremely risky and meant to be for professionals only. Your friends could lose all their funds without enough knowledge and market understanding.

Indeed scalping is the only way, but I doubt his friend is well-versed in trading. So I think this method isn't advisable for @OP's friend unless I am wrong and @OP's friend is a professional trader.

cozytrade

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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 you are thinking about making a daily income to bear your living expenses, then the only option is scalping. This method can provide your friends enough to make a living if he has a decent amount of investment. Scalping is extremely risky and meant to be for professionals only. Your friends could lose all their funds without enough knowledge and market understanding.

As you have mentioned you are a beginner so it will be wise to observe the market and do a demo trade to understand trading charts. Though scalping is for daily traders still you should keep in mind that you won't be able to make profits every day so you should not overtrade.

jrrsparkles

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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 solely depends on the capital the person is having if he have $1000 and he wants to make 50 dollar with that everyday then it is impossible to achieve it consistently, but if the person is having $50,000 and wants to make $100 everyday with that then it is possible via trading or simply by holding and selling when the price goes up cause the margin is hige difference in both the cases.

el kaka22

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We all have that question of "what could I do to get myself freedom". And this is another question about freedom. You may think that it is about money or investment, but the reality is that it's all about freedom in the end. Because, the question is not really if they could invest into bitcoin for short term and make a living out of it, because making a living out of bitcoin is not directly beneficial to someone unless they have another idea coming right behind it. That idea is that "if I could do that, then I would not have to work, and that means I would be free to do whatever I want in the world with the time we have".

Time is limited for each human, some live for a few minutes and die at birth, some live to be 100+ years old, but we all have a limit to it, and the question here is could we get some of it to us, instead of it belong to our boss. Unfortunately bitcoin is not the answer to this question for short term, maybe a good investment could give you a good freedom in your old age, but not right away, and not every month until you pass away.

KaliLinux

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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?

Investing as far as I am concerned is usually for the long term, this is the most guaranteed way to make better profits from Bitcoin unless your friend knows how to day trade Huh

which I don't believe so. He is thinking of making profits for daily needs, I am afraid that this is not the best option for that but trading is also a very serious thing and needs every attention with no emotion.

odunybiz

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Quote from: hugeblack on October 29, 2022, 07:47:20 AM

To get a clear answer, you must know the amount of your capital and how much your daily needs are.
If your daily needs are in the range of 3 to 15 dollars, with a little technical knowledge and the appropriate capital (more than 3000) you can achieve this easily.

With such money and little technical knowledge, one can achieve $3 to $15 daily on Bitcoin trading but remember this won't always go ones way. People like this won't be ready for any lose, they will only believe in making profit always which can't be. So they get discouraged with little lost.

maydna

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Quote from: Die_empty on October 29, 2022, 09:38:32 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?

I think you friend has a very wrong information or perception about bitcoin. He feels investing in bitcoin is like a small scale business where you make some profit for daily survival. If he is searching for a business that would give him daily income, maybe he should consider starting a firewood business to assist homes that are experiencing power cuts or high cost of gas. Cooking gas in my country have soared to almost 80% high and people are searching for other source of fuel.

If he really wants to invest in bitcoin he must have the virtues of patience and courage. Your friend must be willing to Hodl bitcoin for a long time because the bullish market season is unpredictable.

Quote from: maydna on October 29, 2022, 09:29:00 AM

It is possible to do that, but if it is to fulfil his daily needs, he needs to learn to analyze the ups and downs of the market so that he can buy and sell bitcoins for profit. From that profit, he can fulfil his daily needs, and if he is more proficient in analyzing the market, he will be able to get more profits. It's just a matter of time before your friend can benefit, and it depends on how he learns. Maybe you can also study with your friend so that you and he can share each other's experiences to improve your abilities.

How can one meet his daily needs from a market that sometimes experience losses for weeks. OP's friend wants an investment that he can derive funds that would sustain him daily. There is a possibility that he might loose even half of his investment in one day.

If @OP's friend wants a profit on his investment, he should wait until the price can go up high and sell it at that point for a profit. But that meant he had to be prepared not to make a profit every day. That's why I said to learn trading analysis so that he can make a profit so that he invests and trades to help him make a profit. If he can study well, he can benefit because he knows when to trade, and I'm sure the profit is also good enough to fulfil his daily needs.

Vaskiy

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There are possible chances, but the same is risky when your plan is to make an earning to meet your daily life needs. Understanding this further you can step into the market and earn out of the fluctuation in the price taking place between time. Apart from this, it is one's ability to add bitcoin as payment for rendering your services.

panganib999

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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?

You should never, ever use and invest your money in crypto if you are going to spend it for sustenance and survival. You should always make sure that your needs for living are met first before you invest in bitcoin. Add to this the fact that they clearly have no idea with how cryptocurrency works so it's gonna be a bigger problem for them if they rush headlong into short-term investing. Always remember that in investing, it is always better to do your own research, although advises are welcome and must be taken with a grain of salt. And most importantly, never invest what you can't afford to lose.

Zaguru12

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If by daily means you mean using bitcoin as same as fiat in local banks where u do daily withdrawal I don't think it's advisable due to transaction charges although very low. But if you intend to save and probably withdraw monthly then it will be OK because bitcoin is at almost the bottom because I don't see bitcoin going down below 18k in months to come. As for investing to earn profits, bitcoin is fluctuating at the moment and only long term investment is advisable to earn profits. Or you use margin trading/leverage trading to earn but that's risky to even experts

mindrust

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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 he is ready to lose money yes, it is possible. You can go long or short on bitcoin and can make or lose money in a short time. However, you can go long or short on almost any financial asset or currency. Then, why choose bitcoin?

If he wants to make money by holding bitcoin then it is probably not going to be possible quickly. Getting rich by holding takes time. Is he ready to wait for more than a year? Probably not.

I think a person like your friend should stay away from crypto.

Bitstar_coin

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Quote from: adaseb on October 28, 2022, 10:47:24 PM

What do you mean by meet daily needs?

Do you mean you want to invest in Bitcoin and then have it generate income for you? Very difficult to do.

If you bought in 2015 at $200 you could of made good money. But buying at $20000? How high can it go. Maybe 3x or 5x. But you won’t get rich off it.

That ship has sailed.

I think by "meet daily needs" he meant earn passive income daily or so.
@OP best to tell your friend it will be difficult for him to invest in btc short term and earn daily income from it, even if he engages in btc staking from one of the centralized exchanges, he needs a good amount to invest before he can earn any reasonable daily income. However, if his daily spending is not so big, maybe he can manage with a small investment.

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