I overheard my coworkers discussing the idea that new investors in crypto cannot make profits without possessing trading skills. I would like to initiate a discussion on whether this claim is true or false. In my view, this belief is a false notion that is spread by individuals who want to discourage those who are curious about investing in crypto. What is your perspective on this topic?
There is a difference between trading and investing. If you want to be an investor, you don’t really need to have skills; all you need is to know how to buy bitcoin and hold it. If you can hold it for a long time, you are going to make money in the future. We all remember the bitcoin price a few years ago, and we can all see the bitcoin price today. As an investor, you don’t need to have any special skills, but you still need to know the basics of trading because, without knowing the basics, you won’t be able to buy your bitcoin and send it to a non-custodial wallet.
But if you are planning to be a trader, then you need to have skills, or you might end up losing the money you are trading. Trading is more difficult and complicated than investing in bitcoin, and you can’t just make money if you don’t truly understand how to trade. Some people will join trading, and they will be looking for trading signals. All those people are just looking for free money, and they will end up losing. If you are not ready to learn in the crypto space, then you can’t make money; there is no easy way to make money here.
Guys, I mean what other ways can newbies benefit from crypto investment without having to be a day trader or a professional trader. Because I believe there are other ways to earn aside from trading.
The only way that I know that newbies can easily make money is by investing in bitcoin and holding it for the long term. You can’t hold bitcoin and expect profit in the short term, and I am sure not all newbies can hold their bitcoin for the long term.
As a newbie who wants to hold bitcoin, just make sure you buy your bitcoin and send it to a non-custodial wallet. Also, make sure you properly secure your private key, because a lot of people have lost their bitcoin just because they lost their private key. So one of the things you shouldn’t joke with when planning to hold your bitcoin is your private key, and we all should know that your private key shouldn’t be stored in a place where there is an internet connection.