For one to learn from his or her own experience, is indeed a hard way to learn, because I understand there is absolutely no way there won't be triers and errors, and one thing with trading is that, it doesn't show mercy, every error you make must cost you money, time and data, it won't "because you are new" decide not to take your money..
This is why I always tell people that live trading is not a playground for newbies, because, even being a newbie can cost you alot of money if you do not know your boundaries and step past it, or maybe you know but decided to step past it on purpose, you will pay for it..
Those learning to trade should start with a demo trading account, it helps to learn the basics and to rudiments to trading before you enter a live trading account.
Topic: Have a Income? Invest in Crypto or Not? Let's think realistically - page 2. (Read 742 times)
legendary
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Hence, there is really no reason to feel anything about any extra money. You want to leave some wealth to your kids? Try to buy a big piece of land with that money, which you can, and build something on top of it, and just rent it out. That's enough money to not only enough for you lifetime, but leaving your kid something they can never have to work again as well.
A million dollars could be already be comfortable for me to live the rest of my life unless the inflations fucks everyone around the world. Depending on my age, but if the time will still allow, I would invest that to build a software company and just surpass on where I worked at. It might be a risky move to invest my whole mil at that point, but considering that I have daily needs and without business, that money ain't gonna grow by itself. Time will come that I might need another job to replenish all those lost money.Considering that the person has kids like still underaged, it would be better to just invest it all to a profitable business OR if you're really going to give them money, at least do it so for their needs rather than giving them the money.
It's very unrealistic though I know it's just a delusion, a person who can make $1M a year he is a successful businessman with a monthly income is $83K more so it's impossible for us to get talking more realistic.
I know that bitcoin is a good prospect for the future but we have to be able to adjust to what becomes our income every month, say $500/1000 per month then it can be set aside but if the assumption is bigger for me it is impossible and we are talking about the seriousness of our income every month.
Not really that too much unrealistic, ya know? Though surely a man would own a company to earn that amount in a year. Surely $1M is like a thousand dollars in a multinational company? I know that bitcoin is a good prospect for the future but we have to be able to adjust to what becomes our income every month, say $500/1000 per month then it can be set aside but if the assumption is bigger for me it is impossible and we are talking about the seriousness of our income every month.
No, I don't think investing in top coins will be a good choice in the long term. If you want to hold for the long term, I recommend investing in bitcoin only and avoiding all altcoins. Altcoins are only suitable for the short or medium term.
If you've been through a bear season or two before. You can easily see that after each bear season comes and ends, the old altcoins will usually disappear or never recover and will be replaced by new projects.
It can be said that the altcoin market is a rapidly changing and unsustainable market. Projects are only intended to sell tokens and disappear after a while, they have no intention of building a real project.
If you've been through a bear season or two before. You can easily see that after each bear season comes and ends, the old altcoins will usually disappear or never recover and will be replaced by new projects.
It can be said that the altcoin market is a rapidly changing and unsustainable market. Projects are only intended to sell tokens and disappear after a while, they have no intention of building a real project.
But if we take top20-40 altcoins, then the list of them did not change radically through years. We still see same XRP, dogecoin, Tron or Ethereum. Most of top50 altcoins aint that bad for long term investment imho. Even though Bitcoin is the most popular cryptocurrency, it is easier to pump top altcoins, it is easier get higher price. I mean something serious is have happen with market or have multiple positive news and outcomes during years to happen to force Bitcoin to gain several tens percent's of profit. With top altcoin same result can be achieved with one single announcement.
P.S. I would like to find out what you consider to be short, medium and long term investment periods? Is a year a long or medium period for you?
I can agree with you Ethereum, what about Tron? Do you see any innovation or progress from it? Without USDT, I think nobody would use the Tron blockchain. And I also don't understand why XRP is still in the top coin because since reaching ATH 2018, it has never crossed that level, even during the 2021 bull season. Honestly, can you tell me how potential they are? Not to mention potential altcoins like LISk, EOS, NEM, and XLM... used to be considered as potential replacements for ETH, but until now, I no longer see anyone mentioning them. Altcoins have a very short lifespan, so be careful with them.
I don't hate investing in altcoins, but as I said, they are better suited for the short and medium term than the long term.
Of course it depends on the income we get, if I earn $ 1 million per year then I will invest around 10% for bitcoin, I think crypto investment has good prospects in the future so that it makes me always leave about 5% of my monthly salary to buy bitcoin or altcoins.
If you can earn 1 million dollars/year, then I think you don't need to invest more in bitcoin because, with that income, you also became a millionaire in just a few years of working. Investing in bitcoin only puts more stress on you because of its volatility.People are investing in bitcoin or crypto because everyone wants to make 1 million dollars, and I believe when people earn that money, they will also find other things to do business than keep investing in bitcoin. Like the old members of this forum, many people left it when they became rich.
Hence, there is really no reason to feel anything about any extra money. You want to leave some wealth to your kids? Try to buy a big piece of land with that money, which you can, and build something on top of it, and just rent it out. That's enough money to not only enough for you lifetime, but leaving your kid something they can never have to work again as well.
Of course it depends on the income we get, if I earn $ 1 million per year then I will invest around 10% for bitcoin, I think crypto investment has good prospects in the future so that it makes me always leave about 5% of my monthly salary to buy bitcoin or altcoins.
It's very unrealistic though I know it's just a delusion, a person who can make $1M a year he is a successful businessman with a monthly income is $83K more so it's impossible for us to get talking more realistic.I know that bitcoin is a good prospect for the future but we have to be able to adjust to what becomes our income every month, say $500/1000 per month then it can be set aside but if the assumption is bigger for me it is impossible and we are talking about the seriousness of our income every month.
Of course it depends on the income we get, if I earn $ 1 million per year then I will invest around 10% for bitcoin, I think crypto investment has good prospects in the future so that it makes me always leave about 5% of my monthly salary to buy bitcoin or altcoins.
If you can earn 1 million dollars/year, then I think you don't need to invest more in bitcoin because, with that income, you also became a millionaire in just a few years of working. Investing in bitcoin only puts more stress on you because of its volatility.
People are investing in bitcoin or crypto because everyone wants to make 1 million dollars, and I believe when people earn that money, they will also find other things to do business than keep investing in bitcoin. Like the old members of this forum, many people left it when they became rich.
A lot of investors are having this misconception, which is alarming. They argue that diversification means investing in different altcoins, and they are safe. This is only true if we are talking exclusively about our altcoin portfolio, but more broadly, their assets are still only in one basket, which is the cryptocurrency market. And once the market crashes, their entire assets will also collapse. This has been repeated many times on the forum, but I still see many people making this mistake.
I also think the same as you, just a few days ago I had a similar exchange on this forum, it seems this idea of investing in altcoins as a way to diversify your bitcoin holdings is relatively common, but it is a mistake, as you gain no additional protection to your capital by doing that, now if someone is investing in altcoins as a way to maximize their profits then as long as they picked the right coins they may actually achieve their goals, as it is easier for an altcoin with a lower market cap to grow.Yes, if someone said that they invest in altcoins looking to maximize their returns, I would agree because altcoins are undeniably riskier, but the rewards are much greater than investing in bitcoin. But finding and choosing the right coin that can be profitable is not easy in the altcoin market. Putting money in altcoins is not considered an investment, it would be more appropriate to call them gambling because it is too risky. But as long as someone can take the risks, they can try them. Many people have also changed their lives by investing in memes, which is something we should admit.
[~
I mean that's what people call it "reducing risk". They try to learn what the heck "hodl" means, while in trading, they try to learn what candlesticks, RSI, and other signals means and what do they do at all. They're top coins and assets for a reason that's why people are buying and selling them continuously.It is not a risk if you don't have to face it at all.
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Even if the project is kinda good quality and what they call "promising", it ain't a hundred percent that it will be worth it. Imagine if those ICO days on how many were legitimate projects and just got buried under the market due to sheer number of scams during 2017. Deploying a project is really a pain in the ass, let alone getting a team together even if it isn't crypto-related.I am not surprised that there would be lesser number of "legitimate" projects in the future.
Of course it depends on the income we get, if I earn $ 1 million per year then I will invest around 10% for bitcoin, I think crypto investment has good prospects in the future so that it makes me always leave about 5% of my monthly salary to buy bitcoin or altcoins.
If you're having money to invest, think twice about the kind of investment you're willing to make, ensure its what you know about very well and understand the do's and don't before starting, cryptocurrency is one of the most profitable investment you could venture your financial asset into while bitcoin is more preferred, when making an investment, there are some criterials you need to meet up with to avoid losses, one of them is for you to diversify your investment, avoid high risk investment, start low and grow gradually, adopt DCA method in purchasing your asset to hodl and research about bitcoin consistently.
No, I don't think investing in top coins will be a good choice in the long term. If you want to hold for the long term, I recommend investing in bitcoin only and avoiding all altcoins. Altcoins are only suitable for the short or medium term.
If you've been through a bear season or two before. You can easily see that after each bear season comes and ends, the old altcoins will usually disappear or never recover and will be replaced by new projects.
It can be said that the altcoin market is a rapidly changing and unsustainable market. Projects are only intended to sell tokens and disappear after a while, they have no intention of building a real project.
yes that's true, only Bitcoin is promising for long-term investment, I also agree with you.If you've been through a bear season or two before. You can easily see that after each bear season comes and ends, the old altcoins will usually disappear or never recover and will be replaced by new projects.
It can be said that the altcoin market is a rapidly changing and unsustainable market. Projects are only intended to sell tokens and disappear after a while, they have no intention of building a real project.
if we look at the price movement of Bitcoin from the past there should be no other choice than Bitcoin for long term investment.
and for the choice to invest in crypto or not, I think it all depends on ability and knowledge.
when we have more money then there's nothing wrong with investing in crypto with a very large percentage of profits for the future.
but all of that must also be accompanied by knowledge about investing in crypto.
Greetings cryptomaniacs enthusiasts...
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Well, my advice to you and others is to always contribute to good quality projects with promising future esp those you are passionate about. Your contribution could be financially or in other forms, and you will certainly reap what you sow in the projects. This is a universal law of sowing that cannot be stopped or changed. It's just that most people are not aware of it.
Failure starts when you become too attached to money rather than solving problems or developing projects. If you don't have money to contribute, then contribute your skills or help solve problems as it's equivalent to money. Money like it was said somewhere else is Work converted into "Potential Energy" to Power the Future
Here is a secret, how much stakes you have in crypto projects (or how much you benefit from crypto projects) depends on how much worthy contributions you have made. Some haven't contribute so much money but have made contributions that are worth more than trillions, and this kind of people benefit from this contribution financially or otherwise. So, contribute alot and you will reap bountifully... and you wouldn't have to worry too much about charts, candlesticks, etc as Bitcoin/crypto will just work for you
<...>Avoid unwanted things. I am currently trading crypto using money from my side jobs such as campaigns on Bitcointalk and some of the leftovers from the 2017 crypto party.
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I'd say that this is the most important moral you could've shared with us, and I fully agree with you. In my case, I have almost never invested any money in crypto from my salary because that money is meant for expenses like mortgage, food, light, taxes... and if things go wrong and I lose it I will have a big problem.
I use my spare time instead. We all agree that time is a limited resource, and some say that time is money. I like to see it like I chose a hobby from a wide variety of entertainments, and fortunately this hobby doesn't imply expenses like most hobbies do, but provides a little income instead. If I invest that little money and lose it, at least I entertained for free (and surely learnt a valuable lesson, also for free).
No, I don't think investing in top coins will be a good choice in the long term. If you want to hold for the long term, I recommend investing in bitcoin only and avoiding all altcoins. Altcoins are only suitable for the short or medium term.
If you've been through a bear season or two before. You can easily see that after each bear season comes and ends, the old altcoins will usually disappear or never recover and will be replaced by new projects.
It can be said that the altcoin market is a rapidly changing and unsustainable market. Projects are only intended to sell tokens and disappear after a while, they have no intention of building a real project.
If you've been through a bear season or two before. You can easily see that after each bear season comes and ends, the old altcoins will usually disappear or never recover and will be replaced by new projects.
It can be said that the altcoin market is a rapidly changing and unsustainable market. Projects are only intended to sell tokens and disappear after a while, they have no intention of building a real project.
But if we take top20-40 altcoins, then the list of them did not change radically through years. We still see same XRP, dogecoin, Tron or Ethereum. Most of top50 altcoins aint that bad for long term investment imho. Even though Bitcoin is the most popular cryptocurrency, it is easier to pump top altcoins, it is easier get higher price. I mean something serious is have happen with market or have multiple positive news and outcomes during years to happen to force Bitcoin to gain several tens percent's of profit. With top altcoin same result can be achieved with one single announcement.
P.S. I would like to find out what you consider to be short, medium and long term investment periods? Is a year a long or medium period for you?
Trading is not easy,
especially when you first try it. I am sure that almost all traders who exist today must have had a dark experience when trading. But by experiencing this dark experience, traders can learn more from their mistakes. So the dark experience that occurred when trading in crypto, can be a very extraordinary lesson for the future, so that it is even more powerful in trading.
When it comes to the capital that must be used for trading in crypto, it is not recommended to use the salary money fully worked, especially those who still have a lot of needs through the salary money. So basically when you want to start trading in crypto, you have to use really cold money/capital. Because if you use money that is still hot, most traders will complain of worry and eventually lose control, because their mentality has fallen. And
I personally, when I want to buy crypto assets, always use money/capital from the money left over from the cost of my basic needs and from the savings I have, so I feel calmer and less stressed.
especially when you first try it. I am sure that almost all traders who exist today must have had a dark experience when trading. But by experiencing this dark experience, traders can learn more from their mistakes. So the dark experience that occurred when trading in crypto, can be a very extraordinary lesson for the future, so that it is even more powerful in trading.
When it comes to the capital that must be used for trading in crypto, it is not recommended to use the salary money fully worked, especially those who still have a lot of needs through the salary money. So basically when you want to start trading in crypto, you have to use really cold money/capital. Because if you use money that is still hot, most traders will complain of worry and eventually lose control, because their mentality has fallen. And
I personally, when I want to buy crypto assets, always use money/capital from the money left over from the cost of my basic needs and from the savings I have, so I feel calmer and less stressed.
I totally agree with your opinion that trading is not as easy as other people think, as well as the name of investment, what's more, investing in cryptocurrency is a very volatile market. We have to know when we enter and when we exit trading and investing as much as possible, don't ever use hot money. again all in to a coin is very high risk remember to look for coins that have the potential to go up with personal fundamental analysis don't ever follow other people's words because no one in this world can predict the market will go up or down so stay safe
I think if you already have income, investing in crypto is the right choice, not for trading, but investing for the long term and using money that is not needed to make ends meet, regardless of all the possibilities that will happen but in my opinion it is really worth it.
especially investing in top coins i think it is the best choice for long term investment,
it will be profitable even though it is also not easy because it takes patience.
No, I don't think investing in top coins will be a good choice in the long term. If you want to hold for the long term, I recommend investing in bitcoin only and avoiding all altcoins. Altcoins are only suitable for the short or medium term.
If you've been through a bear season or two before. You can easily see that after each bear season comes and ends, the old altcoins will usually disappear or never recover and will be replaced by new projects.
It can be said that the altcoin market is a rapidly changing and unsustainable market. Projects are only intended to sell tokens and disappear after a while, they have no intention of building a real project.
These risks must be faced and we cannot completely avoid them,
especially investing in top coins i think it is the best choice for long term investment,
it will be profitable even though it is also not easy because it takes patience.
Not all risks have to be faced, because everyone needs to see and study them first before deciding to face certain risks. Including risks when investing in top coins like Bitcoin, so learn first before dealing with it because there are so many people who are disappointed when they face risks that they still don't understand in terms of investment. It's not only about the top assets or coins, but also about how to understand them well and deal with them very wisely. especially investing in top coins i think it is the best choice for long term investment,
it will be profitable even though it is also not easy because it takes patience.
Trading is not easy,
especially when you first try it. I am sure that almost all traders who exist today must have had a dark experience when trading. But by experiencing this dark experience, traders can learn more from their mistakes. So the dark experience that occurred when trading in crypto, can be a very extraordinary lesson for the future, so that it is even more powerful in trading.
When it comes to the capital that must be used for trading in crypto, it is not recommended to use the salary money fully worked, especially those who still have a lot of needs through the salary money. So basically when you want to start trading in crypto, you have to use really cold money/capital. Because if you use money that is still hot, most traders will complain of worry and eventually lose control, because their mentality has fallen. And
I personally, when I want to buy crypto assets, always use money/capital from the money left over from the cost of my basic needs and from the savings I have, so I feel calmer and less stressed.
especially when you first try it. I am sure that almost all traders who exist today must have had a dark experience when trading. But by experiencing this dark experience, traders can learn more from their mistakes. So the dark experience that occurred when trading in crypto, can be a very extraordinary lesson for the future, so that it is even more powerful in trading.
When it comes to the capital that must be used for trading in crypto, it is not recommended to use the salary money fully worked, especially those who still have a lot of needs through the salary money. So basically when you want to start trading in crypto, you have to use really cold money/capital. Because if you use money that is still hot, most traders will complain of worry and eventually lose control, because their mentality has fallen. And
I personally, when I want to buy crypto assets, always use money/capital from the money left over from the cost of my basic needs and from the savings I have, so I feel calmer and less stressed.
I totally agree with your opinion that trading is not as easy as other people think, as well as the name of investment, what's more, investing in cryptocurrency is a very volatile market. We have to know when we enter and when we exit trading and investing as much as possible, don't ever use hot money. again all in to a coin is very high risk remember to look for coins that have the potential to go up with personal fundamental analysis don't ever follow other people's words because no one in this world can predict the market will go up or down so stay safe
I think if you already have income, investing in crypto is the right choice, not for trading, but investing for the long term and using money that is not needed to make ends meet, regardless of all the possibilities that will happen but in my opinion it is really worth it.
especially investing in top coins i think it is the best choice for long term investment,
it will be profitable even though it is also not easy because it takes patience.
Trading is not easy,
especially when you first try it. I am sure that almost all traders who exist today must have had a dark experience when trading. But by experiencing this dark experience, traders can learn more from their mistakes. So the dark experience that occurred when trading in crypto, can be a very extraordinary lesson for the future, so that it is even more powerful in trading.
When it comes to the capital that must be used for trading in crypto, it is not recommended to use the salary money fully worked, especially those who still have a lot of needs through the salary money. So basically when you want to start trading in crypto, you have to use really cold money/capital. Because if you use money that is still hot, most traders will complain of worry and eventually lose control, because their mentality has fallen. And
I personally, when I want to buy crypto assets, always use money/capital from the money left over from the cost of my basic needs and from the savings I have, so I feel calmer and less stressed.
especially when you first try it. I am sure that almost all traders who exist today must have had a dark experience when trading. But by experiencing this dark experience, traders can learn more from their mistakes. So the dark experience that occurred when trading in crypto, can be a very extraordinary lesson for the future, so that it is even more powerful in trading.
When it comes to the capital that must be used for trading in crypto, it is not recommended to use the salary money fully worked, especially those who still have a lot of needs through the salary money. So basically when you want to start trading in crypto, you have to use really cold money/capital. Because if you use money that is still hot, most traders will complain of worry and eventually lose control, because their mentality has fallen. And
I personally, when I want to buy crypto assets, always use money/capital from the money left over from the cost of my basic needs and from the savings I have, so I feel calmer and less stressed.
I totally agree with your opinion that trading is not as easy as other people think, as well as the name of investment, what's more, investing in cryptocurrency is a very volatile market. We have to know when we enter and when we exit trading and investing as much as possible, don't ever use hot money. again all in to a coin is very high risk remember to look for coins that have the potential to go up with personal fundamental analysis don't ever follow other people's words because no one in this world can predict the market will go up or down so stay safe
I think if you already have income, investing in crypto is the right choice, not for trading, but investing for the long term and using money that is not needed to make ends meet, regardless of all the possibilities that will happen but in my opinion it is really worth it.
Trading is not easy,
especially when you first try it. I am sure that almost all traders who exist today must have had a dark experience when trading. But by experiencing this dark experience, traders can learn more from their mistakes. So the dark experience that occurred when trading in crypto, can be a very extraordinary lesson for the future, so that it is even more powerful in trading.
When it comes to the capital that must be used for trading in crypto, it is not recommended to use the salary money fully worked, especially those who still have a lot of needs through the salary money. So basically when you want to start trading in crypto, you have to use really cold money/capital. Because if you use money that is still hot, most traders will complain of worry and eventually lose control, because their mentality has fallen. And
I personally, when I want to buy crypto assets, always use money/capital from the money left over from the cost of my basic needs and from the savings I have, so I feel calmer and less stressed.
especially when you first try it. I am sure that almost all traders who exist today must have had a dark experience when trading. But by experiencing this dark experience, traders can learn more from their mistakes. So the dark experience that occurred when trading in crypto, can be a very extraordinary lesson for the future, so that it is even more powerful in trading.
When it comes to the capital that must be used for trading in crypto, it is not recommended to use the salary money fully worked, especially those who still have a lot of needs through the salary money. So basically when you want to start trading in crypto, you have to use really cold money/capital. Because if you use money that is still hot, most traders will complain of worry and eventually lose control, because their mentality has fallen. And
I personally, when I want to buy crypto assets, always use money/capital from the money left over from the cost of my basic needs and from the savings I have, so I feel calmer and less stressed.
I totally agree with your opinion that trading is not as easy as other people think, as well as the name of investment, what's more, investing in cryptocurrency is a very volatile market. We have to know when we enter and when we exit trading and investing as much as possible, don't ever use hot money. again all in to a coin is very high risk remember to look for coins that have the potential to go up with personal fundamental analysis don't ever follow other people's words because no one in this world can predict the market will go up or down so stay safe
If the time to buy is definitely right, then there will be nothing to regret. Considering that we are still in a bear market and at the current price the investment is already profitable, then everything is done correctly.
If the bear market is not at its final stage, and the price continues to fall for some more time, then nothing bad will happen, since this will be an additional opportunity to replenish the investment portfolio.
I don’t know if we should talk about greed here, maybe we should be greedy in our desire to get as much bitcoin as possible during this period, but this greed should not prevent us from selling bitcoin in a bull market and making a profit.
This is the right approach to buying bitcoin, it helps you in the long run and you should be able to do it with ease. I understand that people may not enjoy the fact that they are making a loss and all, but we are talking about making a profit that would help you one way or another. I hope that people could end up understanding what is required in the end, but the first thing you need to be able to do is buying at the right time, if you can do that then there is nothing else that could make it harder for you.If the bear market is not at its final stage, and the price continues to fall for some more time, then nothing bad will happen, since this will be an additional opportunity to replenish the investment portfolio.
I don’t know if we should talk about greed here, maybe we should be greedy in our desire to get as much bitcoin as possible during this period, but this greed should not prevent us from selling bitcoin in a bull market and making a profit.
If you bought at the right time, then you did the right thing and you should not be worried, it is such a simple thing and the results would be a good thing, it just ends up being the waiting time that will change but that is fine if you are a long term investor.
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