Since there are factors to consider before venturing into mining industry it will be safer for you to first go through all the stuffs required to start mining and calculate the cost of them if it's something that's affordable for you or not.
Remember you can't just use any laptop or desktop to mine Bitcoin, mining Bitcoin requires ASIC which will also cost you some money and the electricity you're going to use will still be a problem for you if it's not stable and also if the cost of electricity is expensive in your location.
Trading Bitcoin might be profitable but you'll still have to acquire knowledge of trading before you can successfully make it big in trading, which is not going to happen overnight and will also require your time and commitment to learn.
What I'm trying to say is if you want to earn well in crypto you'll have to go through some process but if you don't have any knowledge whatsoever then you can consider buying and Hodling Bitcoin for long term.
Topic: Which is more lucrative between mining and trading bitcoins? - page 3. (Read 327 times)
I am looking to start my Bitcoin journey from somewhere that would be of advantage to me as the economic situation in my country bears down hard and with having family to Carter for, it is rather exhausting.
Without much physical mentors with real life experiences except for YouTube and this forum where I feel I can ask good questions and be answered well, am asking, which is the more lucrative endeavour for a newbie hoping to benefit from cryptocurrency at first between Bitcoin mining and Bitcoin trading?
Are there other Bitcoin endeavours one could be interested and invested in, other than trading and mining?
Without much physical mentors with real life experiences except for YouTube and this forum where I feel I can ask good questions and be answered well, am asking, which is the more lucrative endeavour for a newbie hoping to benefit from cryptocurrency at first between Bitcoin mining and Bitcoin trading?
Are there other Bitcoin endeavours one could be interested and invested in, other than trading and mining?
Depends on your financial capabilities since there's really huge difference between this two selections and consider this things.
Mining you need to put up huge capital since latest or high end hardwares is needed so that you can farm decently and imagine how much it cost to build up since you also need a facility with proper ventilation so that no issue will happen to your mining farm. And you also need big funds to spend on maintenance so think about if you can afford all of this although I can't give any figures but you cam do a research on this.
Trading you can start up using small amount but you also need some time to spend on researching since you need to get updated on the current events on crypto space. Also to many things need to learn especially on your emotional aspect so try to do some trades and you will understand how difficult to execute this especially the market is so unpredictable.
Bitcoin trading require skill too if you're want to make money everyday, you can do short term trade by buy low and sell high, but it may take after 3 days, a weak, a month depends on the market. Except you're fine to sell at lose.
With knowledge, mining becomes simple. With knowledge, trading can be a way to lose money. Mining is better. Trading is good if it is done in a professional way, but most people learn but did not become professional, they will trade and lose. I too will prefer holding bitcoin, but the time for profit may take time, unlike mining. If you have good and cheap electricity, mining will be the best. But in a time like this when bitcoin price is low, investing is good too.
As for trading it also requires capital but the biggest challenge is having its knowledge. You need extensive knowledge about how stuffs like spot, leverage and future trading works. Also about financial managements. One risk about trading again is having to put your coins on centralized exchanges because they have more features in trading than the decentralized exchanges.
Trading requires knowledge, but not only knowledge, it also requires experience and patience. With $10 to $20, he can start. After many months, he can trade with $500 to $1000 and make money. But losses can be what that will happen because trading is very risky.Good traders should just trade without leverage. Leveraging is only for special times, like when the price of bitcoin has decreased significantly. The leverage should not be too high. 5x is getting too high.
I am looking to start my Bitcoin journey from somewhere that would be of advantage to me as the economic situation in my country bears down hard and with having family to Carter for, it is rather exhausting.
Without much physical mentors with real life experiences except for YouTube and this forum where I feel I can ask good questions and be answered well, am asking, which is the more lucrative endeavour for a newbie hoping to benefit from cryptocurrency at first between Bitcoin mining and Bitcoin trading?
Are there other Bitcoin endeavours one could be interested and invested in, other than trading and mining?
Since mining requires enough bitcoins and mining equipment and a lot of electrical supplies to start, you may not be able to pay that much in the first stage, which makes mining not suitable for you. On the other hand, trading platform is a very risky business. You can easily earn money from trading, but your chances of losing money are high in trading platform. Still if you can master the trading from the trading platform then you can earn money from it. You can't make money from trading platform very easily, to make money here you need to be very knowledgeable, be patient, avoid greed, have strategy, then you can make money from trading. Finally I can say that mining is much more profitable than trading. You can get hurt from trading but you can't get hurt from mining. Without much physical mentors with real life experiences except for YouTube and this forum where I feel I can ask good questions and be answered well, am asking, which is the more lucrative endeavour for a newbie hoping to benefit from cryptocurrency at first between Bitcoin mining and Bitcoin trading?
Are there other Bitcoin endeavours one could be interested and invested in, other than trading and mining?
First I would say both aren’t something you need to just jump into like that, because they both need you to acquire knowledge. As for mining it is not that profitable for an individual like the early days, you need special mining equipment like ASIC which are more expensive than the GPU used in the early days. So with more miners in the mining business today having a less expensive equipments isn’t profitable, that is why most People join cloud mining but still the percentage profits is not that high. Also mining requires electricity so you might have to look for a place that actually charges less for electricity. And if you are in a country that is actually against mining or bitcoin itself then it becomes a big risk to mine there as you could get caught.
As for trading it also requires capital but the biggest challenge is having its knowledge. You need extensive knowledge about how stuffs like spot, leverage and future trading works. Also about financial managements. One risk about trading again is having to put your coins on centralized exchanges because they have more features in trading than the decentralized exchanges.
The easiest way to earn in bitcoin without much risk is to buy and hold.
As for trading it also requires capital but the biggest challenge is having its knowledge. You need extensive knowledge about how stuffs like spot, leverage and future trading works. Also about financial managements. One risk about trading again is having to put your coins on centralized exchanges because they have more features in trading than the decentralized exchanges.
The easiest way to earn in bitcoin without much risk is to buy and hold.
which is the more lucrative endeavour for a newbie hoping to benefit from cryptocurrency at first between Bitcoin mining and Bitcoin trading?
both can be lucrative but if you are new to cryptocurrency it would be better for you to do your own research first on Bitcoin mining, Bitcoin trading and bitcoin and cryptocurrency in general. that way you have an Idea of what you are getting into and not just rely on what people say on which of the two will be more lucrative.Are there other Bitcoin endeavours one could be interested and invested in, other than trading and mining?
if you have skill/s that you can offer online, then you can offer your service and ask to be paid through Bitcoin, we have a board here where you can post your Service. you can also try HODLing Bitcoin. 
If you don't have any job and trying to make money through Bitcoin, it's not as simple as you think.
Bitcoin mining require decent understanding about mining rigs, how to operate it and how to maintain it. You can't just buy few ASIC miners, mine it and hope your mining hardware will make money easily. Don't trust cloud mining, it's scam.
Bitcoin trading require skill too if you're want to make money everyday, you can do short term trade by buy low and sell high, but it may take after 3 days, a weak, a month depends on the market. Except you're fine to sell at lose.
So the more luctrative ismining Bitcoin, trading Bitcoin, gambling Bitcoin, invest in Bitcoin.
Bitcoin mining require decent understanding about mining rigs, how to operate it and how to maintain it. You can't just buy few ASIC miners, mine it and hope your mining hardware will make money easily. Don't trust cloud mining, it's scam.
Bitcoin trading require skill too if you're want to make money everyday, you can do short term trade by buy low and sell high, but it may take after 3 days, a weak, a month depends on the market. Except you're fine to sell at lose.
So the more luctrative is
Mining needs huge capital before you can start. If you have 24 hours electricity and if it is cheap, mining is better. Trading turns some people into depression as they continue to trade and continue to lose money. Trading can be good if gotten appropriately, but many traders are losing. If you can be patient and not in rush to make money and learn about trading very well with small amount of money, you can get it right, but know that trading can cause loss of money than mining.
I am looking to start my Bitcoin journey from somewhere that would be of advantage to me as the economic situation in my country bears down hard and with having family to Carter for, it is rather exhausting.
Without much physical mentors with real life experiences except for YouTube and this forum where I feel I can ask good questions and be answered well, am asking, which is the more lucrative endeavour for a newbie hoping to benefit from cryptocurrency at first between Bitcoin mining and Bitcoin trading?
Are there other Bitcoin endeavours one could be interested and invested in, other than trading and mining?
Without much physical mentors with real life experiences except for YouTube and this forum where I feel I can ask good questions and be answered well, am asking, which is the more lucrative endeavour for a newbie hoping to benefit from cryptocurrency at first between Bitcoin mining and Bitcoin trading?
Are there other Bitcoin endeavours one could be interested and invested in, other than trading and mining?
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