Topic: How to make money off cryptocurrency? - page 10. (Read 5905 times)

You're a rather fearful man. To be honest, I didn't even think about it. Made money in the top exchange, which was at that time, and all)

Yes, all exchanges just want to make money on you. And when things don't go well for them, they just close up, taking your money. They don't care about you. Therefore, you should not keep all your money on their exchanges.

Usually the mainstream trading platform is safe, there is almost no probability of failure, making money in the cryptocurrency market is related to the market, a positive market is more likely to make a profit, and a negative market will only make investors lose more.

I think there are several ways to earn money from crypto currency and to do that firstly

1. Learn to be positive: irrespective of what people say about a coin or a project; find out first and decide

2. Decide if you will be hodler , a day trader, an investor or a bounty/airdrop hunter: it all requires special skills though

The best way would be to buy low and sell high. Like now when the prices of the coins are down it is better to buy the coins and hodl them for the long term. If the coins end up doing well and hitting new all time highs then you are going to be making a lot of money from the coins. Also you can make a good amount of profit from trading

Working with cryptocurrency is always a risk. Even the most reliable project can fail. And the most secure exchange can be attacked by hackers and all funds from it will be lost. I earn bounty money. Little by little I trade on exchanges and eventually I have a good additional income.

You can make money with crypto by several ways, you can earn money with joining at bounty and airdrop project with free without have make investment, or if you have much money you can joined for ICO investment or invest your money at altcoin or bitcoin.

only experience can help you successfully and consistently make money from cryptocurrencies. all the rest are going to be the unavoidable risks that are not serious enough to damage your long term profits. even if you lose a lot of money in one exchange hack for example.

so start by studying the market and learning more about pump and dumps of altcoins and try to figure out how you can take advantage of the manipulation and make money from it and then have long term investment in things that are worth holding like bitcoin.

Use already established exchanges such as binance, bittrex but still don't put your all funds there. Use ledger or some other hardware wallet to hold your crypto. Decentralized exchanges such forkdelta, allows you to transact through ledger so you stay safe.

Don't let news get in your head.

your suspicion of exchange is very excessive, honestly not as bad as you say or as reported. no one forces you to trade and trust any exchange, but I only suggest looking for various reviews or feedback, before you trade in an exchange.

Never keep them for too long in exchange, specially centralized ones.
Get in and get out.
How to do that?

First, do register with them. Give your information, that is okay as long as it is not restricted in your country. That is also to max out your withdrawal.

Next, monitor the token you will be trading with. If you are satisfied with the price then deposit. Sell then get out as fast as you can.

Lastly, do not regret it if a sudden pump came in. Move on.

How to get money from your cryptocurrency just enough to follow the campaign of a project, usually the campaign lasts for several months, and you will get a prize from the campaign, but must be patient to accept the results most importantly remain confident of the results obtained

So they should learn more and better trade in an exchange that is certainly trusted. As soon as you make a deposit you should always double check the rules and requirements for the deposit, trading fees and withdraw fees. Usually the new exchange will set a cheaper fee, but also not infrequently set prices higher. Arbitration can be a place to get profits instantly but there are also many obstacles in this condition

it's easy, I work for a bounty, wait a few months and then get a reward. or airdrop which happens to be a token that has been released at the market exchanger even though there are only a few. the most important thing is to always keep up with the latest developments in the crypto world.

Just to invest in good project. And hold it on until it fully delivered its product.

I think among all these shady centralized exchanges i only rate binance and cobinhood as trustworthy, most other exchanges are showing fake trading volumes and massive bot trades which is not natural/organic so ot just gives a negative impression about all these exchanges, secondly decentralized exchanges that i have found to be decent are forkdelta and idex.

unfortunately that is a risk that a trader needs to accept. although there are many ways to reduce that risk. for example you don't have to be a day trader to make profit. you can be an investor so your exposure to exchanges is minimal for example you buy bitcoin and keep it long term and sell in bubbles and only buy after crashes.
or even as a day trader you can withdraw your money every time you are finished with the trade.
and finally there are decentralized exchanges which remove a lot of t he risks associated with centralized exchanges like them running away with your money.

If you watch the news in my country, you'll be afraid to get out from home and even more afraid to drive a car (way too many news about car crashes).

The news show only when something extraordinary has happened. That's not a rule.
Ask the people around. Exchanges are not that bad.
Yes, many of them have bad tech support, still I managed to get in touch with the tech support in most cases I needed and my issues were solved.
Yes, many exchanges got hacked and that's why one rule is to not keep money at exchanges - use your own wallet. I didn't lose any money in hacks.
Yes, some accounts get closed. It happens if you try to go fishy things, or you just try to handle too big amounts of money. Their safety rules or the legislation kicks in. Of course, sometimes it can be caused by mistakes, but the % of mistakes is small.

Tether is an altcoin which if you don't trust, don't buy it. I don't.


I traded altcoins vs Bitcoin and I traded Bitcoin vs my local currency. Never lost money. Had some issues, but they were fixed by the support.
So yeah, people can trade crypto nicely at exchanges if they want to.
Or there's the option to use for convenience "crypto" debit cards, although the fees are bigger than at the exchange. I still have one of those too.

Others also exchange at localbitcoins, face to face (small amounts/friends), or there are people on this forum too that want to buy/sell bitcoins for WU, PP and others (just you have to be extra careful with those because not everybody is well intended and some payments can also be reversed/chargeback).

I have been reading about exchanging sites. all of them have people who lost their money due to hacks, or investors got their accounts closed, frozen (Coindesk) without proper explanations, usually exchange sites let them deposit money, but they don't let them withdraw their money. No customer support.

How do you make money of cryptocurrency when the exchange sites are predators to hunt people's money? Decentralized trade sites maybe? If I read positive reviews about these centralized exchange sites , they doesn't seem genuine at all, most of the time, it looks like someone ordered them from Fiverr. Binance, Bitfinex with the Tether fiasco, Coinmama.... All of them looks like scummy attempt to get your money.