Topic: Which is more lucrative between mining and trading bitcoins? (Read 406 times)

Having the options between mining and trading for us to choose which we prefer, honestly if we should consider the one being the most profitable among the two is mining, but can we meet up to it's demands in starting one, the facilities required and the technical aspects of it, if we remember it's all about proof of work and not proof of stake, trading is more of a simpler tasks to do compared to mining but it also has it own little challenges of learning and making profitable trading, the choice is ours to decide on what we want.

Bitcoin mining and trading can both generate profits, to choose one you must be able to distinguish which option is most supportive according to your initial capital, preferences and goals. Each option you choose has its own advantages and disadvantages, Bitcoin trading does not require a lot of capital, as a first step you can start with a small amount while gaining knowledge about trading and perfecting your strategy while you are on this forum. Becoming a Bitcoin trader requires understanding how to read charts, use risk management techniques and make the right choices. If you have mastered it, you can increase the number of your trades as your confidence in trading increases.

Meanwhile, Bitcoin mining can be profitable but requires large capital such as mining equipment and large amounts of electrical energy. Electrical energy costs are an important factor to consider when mining Bitcoin. If you live in an area with high electricity prices, Bitcoin mining may not be for you. Apart from that, you also need to carry out maintenance on mining equipment regularly to ensure the efficiency of your mining system.

Most people state that mining requires quite large capital costs, both equipment and electricity, and indeed requires quite large ongoing costs, but the risk is quite small and the profits will be large if enough rewards are collected at a high bitcoin price, which will be a satisfaction in itself. for miners, meanwhile traders will be able to make more profits if they are good at trading, but the risk is also very big especially if they don't have the knowledge, experience and mentality in trading, so if you look at which of the two is profitable, it depends on your ability to manage beetwen mining and trading.

All have their advantages and disadvantages but if you want to know the one that is more profitable then it is mining but mining is much more stronger than trading. And you have all the equipment to mine then nyoungo for the mining. Mining needs more funds while trading might not.

   In some conditions mining is more profit than just buying Bitcoin because after mining, and a block
is successfully added to a block  chain miners are being rewarded (6.25 btcs) newly minted Bitcoin that can be appreciated in value  In future . Mining is making money more instead of buying Bitcoin and it's being considered one of the most making money because of its high market value and conditions, it also requires a designed and powerful hardware  .

  In trading crypto a less relating to the beginning investment but risky since the crypto values changes strength quickly. Tha gain of mining Bitcoin against trading is based on many factors, such as Energy cost, market conditions, your resources, Efficient equipment e.t.c

The profitability of mining versus trading bitcoins depends on various factors such as market conditions, hardware costs, electricity expenses, and individual expertise . on the other hand, Trading offers a more direct and potentially faster path to profit for those with market acumen . The volatile nature of cryptocurrency prices can present lucrative opportunities for trader, but it also entails higher risks . Historicaly, early bitcoin miners enjoyed substantial rewards due to lower competition and higher block reward.  Ultimately, the choice between mining and trading depends on one's resources, risk tolerance, and understanding of the dynamic cryptocurrency market .

Been a newbie you are  advice to stay away from mining and trading for the first attempt in cryptocurrency industry still you have gathered enough knowledge.

So both trading and mining are welcome when you have good knowledge about cryptocurrency industry and have good capital. In mining you need a huge amount of money to setup the mining sector especially money to buy ASIC which I may say is so expensive for ordinary person to be able to afford.and again i don't think mining bring more profits this days like those days back then.

Trading is not also easy because it involves seriously risks especially when you don't have good knowledge about it you will always lose it all but still think is better than mining to deal with.when someone is patient enough and  required good skills of trading such may be making reasonable profits despite it can be all time.but if I have to advice you I will just say you should buy some amount of Bitcoin and hold for some time for now,and focus on learning trading and when you think you are capable you can start trading.

Are you sure your financial status can mine bitcoin, I'm not sure about that, perhaps maybe trading will help you provide for your family bills. There is no way you can mine bitcoin now without breaking the bank except you mean mining altcoins and that is not a lucrative business as they are not as valuable as the price of bitcoin. I suggest you try trading since you are conversant with Youtube, try paper trading with the tutorials online and see for yourself if trading will favour you in the future or not but I repeat, do paper trading before you indulge in full trading otherwise you risk losing all your money if trading goes south.

Quite rightly miners earn Bitcoins if they are successful in mining a block, but to be constantly successful in doing that you'd have to have enough computation power in order to solve the puzzles faster than other competing miners. Miners put a lot of money into what they do to earn returns, thus it is misleading to look at only their gross income which is the block rewards and transaction fees they get, but you'd have to minus how much they've spent and are still continuously spending, yes they still make enough profit, but not just as some people envision it to be.
Asics do not cost that much, except you want to buy them in hundreds, and that will mean running a really big mining rig (well it depends on the currency you meant).

In my opinion, trading is an option, but not futures or trading with leverage because it's really high risk. This is more to Bitcoin trading in the Spot market. Even though there are still risks, at least we can still hold and not lose assets when the market suddenly drops significantly. We can still wait for it to rise again, especially this is Bitcoin. Maybe the results are not too much, but if done regularly and also intensively, I think it will still be profitable. It depends on how we anticipate it and do the trading.

You haven't even got the funds to Begin mining, let alone to know if it's more profitable than HODLing...
Mining requires a high electricity voltage and it's not not open to any individual anyways. The ASIC is currently used for the process and you shouldn't be told that acquiring machineries would end up in millions.
Meanwhile, you could comfortably buy and HODL BTC and make profits in due time. There are still alot of ways to stack up BTC - all of which you only compared two... You just need to choose which one suits you.

Sandra 🧑‍🦰

I don't know of your country but starting up a mining pool will be expensive that it will take a long time to realize  your profit, so I wouldn't advice  a newbie who is struggling to meet up with life attempt mining  for now and please very careful of cloud mining of any such, possibly stay totally away from them as almost all of them if not all of them end up being scam.
Well as a newbie you can venture into trading and then I've a comfortable life and with the right knowledge about trading as well as applying  those knowledge  with a decent trading capital, one can make $100 and even more a day without  having to bother so hard.
So I would advice you  go for trading rather than mining.

It seems you don't fully understand how mining works. It won't generate many Bitcoins if it's just a simple Mining machine. Earning more Bitcoins from mining is only possible for those with lots of mining machines (perhaps hundreds of mining rigs). and also calculate the cost of electricity and other repair costs, it will be a tough job and requires a lot of capital. Ta[i trade only need to take advantage of price fluctuations, buy at low prices sell at high prices, very simple. If you ask how much you earn, it depends on how you know the science of trading and also how much capital is used. Mining is decentralized but trading can also be decentralized depending on whether you trade on CEX or trade on DEX.

Try to look and search in your local maybe there are silent miners that have been doing that on their basements. You'll never know if someone is there to help you out so, look closely with those local communities that you're close with. There's this sense of help if you've been mining and helping the network through your own asics but it's quite expensive and those that have been doing that are aware of what they're doing. It's not just all about easy profit as people seem to think but it's more than that and maintenance and what not. So, the answer won't be with any of two if it's on me, I'll choose the traditional HODL method.

 First of all, the answer differs from person to person. That means that mining might be a perfect fit for a unique person while trading is the only thing that creates positive results for another one.
 But keep in mind that mining could be even riskier than trading cryptocurrencies.

 To start mining, you need access to specialized computers, technical expertise, and electricity. These require high upfront costs, making setting up a mining rig costly. Bitcoin trading is easier to set up and costs far less than mining.
 Bitcoin trading is easier to set up and costs far less than mining. You can buy and sell Bitcoin with your smartphone, an internet connection, and almost any amount of money. You can also learn how to trade from many free sources online.
 Crypto exchanges allow traders to deposit and trade as little as $10 to $20 worth of cryptocurrency to start trading. Thus, making Bitcoin trading more accessible and easier to start than Bitcoin mining.You can become an effective crypto trader when you understand how to read charts, carry out crypto risk management, and make informed decisions. But you risk losing your investment if you fail to understand these things (which sometimes happens to professionals, as well).

https://learn.tradimo.com/cryptocurrencies/crypto-mining-trading
https://www.investopedia.com/articles/forex/051115/bitcoin-mining-still-profitable.asp

If you are asking about more lucrative between mining and trading bitcoins, I can say both have its own risk and reward, so in means of being lucrative depends on your time frame.  Mining Bitcoins can give you a steady supply of Bitcoin rewards for continuous mining but the start up is quite huge not saying the need for maintenance and electricity charges.  You can rent rigs or buy hashes online but it will take time for you to get your ROI and start profiting.  While trading Bitcoin makes you control when you wanted to sell your holdings, so if profit is seen for a short time after purchase, you can easily get ROI and some profit from selling your Bitcoin holdings.  The difference is that once you invested in trading Bitcoin, you instantly have the grasp of the bitcoin equivalent of your capital, while investing in mining rig will only get you the equipment and will take time to get you the bitcoin equivalent of your capita but it will continue to give your Bitcoin as long as the machine don't break down.

So I can say if you plan to have access to more Bitcoin in a short amount of time, you can just buy bitcoin and start trading.  I believe if you have the talent to trading, this will give you more profit than mining Bitcoin.


Aside from trading and mining Bitcoin, if you have enough knowledge for Bitcoin lecture then you can organize a Bitcoin lecture program and charge for the service.  You can also create or develop Bitcoin related products if you have the skills.  After all profiting from Bitcoin isn't limited to trading and mining.

Of course there is. In my opinion, it will also benefit you if you adopt bitcoin as a means of payment in your real or online business. It's worth a try as long as your country and government have legalized it, but if that doesn't then try another way.

I'm not dealing with trading and mining, that's already been explained by many other users - but something different like staking or something is also profitable. Instead of getting too confused about the best option, I think you're only better off as an investor if you have the good budget. Bitcoin price is still too low so far compared to the previous ATH, so take this opportunity to buy and hold it long term.

The topic of the op, the question is technical. That is which one is profitable? Mining or Trading though I have not mine before but I have involved in trading. And trading there is profit but I still take mining is more profitable that trading. In mining one can make enough bitcoin in a month but I don't think that can be seen in the trading platforms. Mining deals with decentralized system while trading deals with centralized system.

Mining can be lucrative, but it depends on what country you are in because you need to spend money to have good mining equipment to start mining Bitcoin, but if you want it to have more computing power, then more money is needed to achieve it and to pay for the electricity bill unless you have other means to have electricity like a solar panel, whereas in trading, you don't have to spend money to buy equipment, maintenance, or a hardware wallet to store your crypto once you are done trading if you don't want to use a free crypto wallet like Electrum and such since you are already using the crypto when you are trading. When trading, you only need the capital you are willing to risk to make it grow, and that's why trading doesn't cost that much compared to mining.

Hmm as a newbie I will recommend you trading because you can learn it by doing some experiments and spending some time on the market and it requires low difficulty requirements. Although it requires some time to start making profits by choosing the trading you have the following edges.

You just need to learn about the market.
You need a small portfolio to Start.
You can give even your full time to market for more profits.
You have a wider range of options to make money.

Mining seems more complex and requires a lot of resources such as good climatic conditions and cheap electricity and both are rare. A massive capital might cost you to start a good mining setup. Although you can face the following results while choosing to mine

You can earn by joining pools or self-mining.
You need massive capital initially to start (Because you need mining equipment).
You need a good environment for a better working setup (cool place).
You need a regular supply of Internet and Electricity.
You don't need to spend much time in learning.

I would say both are lucrative business ventures but the only downside of bitcoin mining is that it requires more capital than usual to be pumped in to be setup before you  start earning your first coins...not forgetting running costs which you can't run away from such as electricity, maintainance costs, etc while comparing it to trading, say p2p trading this business grows with time and has less running costs as its pretty much tied to how much capital one puts in!

So for those on a tight budget or limited capital, I would suggest trying out peer2peer trading and bank on those price  differences as your profit

Both mining and trading are profitable although their start-up demands are different. For mining the amount of money needed to start is much due to the equipments you will be needing to kick off when compared to going into trading which all you primarily need is a few trading skills.  So it all depends on how much you have at your disposal at the moment. 

Based on the situation of things with you, in my opinion it's not bitcoin trading or mining you desperately need now, what you need is a real life job no matter how little but as long as it's putting food on the table and then afterwards you can use crypto trading or mining as a supportive means. This is because of the risks involved, you could lose so much in just one day with nothing to fall back to.

I think the answer is easy, it depends on the financial ability of each of us in choosing whether to mine or just become traders. But if you want to know the pattern of differences, I will try to explain a little where it is.

Mining Bitcoins It takes the name of computer hardware to generate new Bitcoins in return, Operational costs and other technical expertise. Whereas Trading Bitcoins is a way to earn profits can depend on several factors, such as skill, capital and personal preference I think this is simpler.

If you do not have trading skills and there are no funds for mining equipment, then the only way to get bitcoins for you will be to work in an office. This is the only way you will be able to invest part of your salary in bitcoins, while simultaneously learning the basics of trading.

They are both lucrative but choosing one depends on who is choosing, trading may be more interesting to you than mining or vice-versa, it's something you won't understand until you try them out first, I've tried mining and I notice it's best for those with cheap grid power, unfortunately, I am from a country where grid power sucks and I still went to invest on solar power to start mining, I got tired of everything when Ethereum mining came to an end and I sold all graphic cards.

Trading is not my main way of making money but it's a plus, I do day trades on Bitget and Binance exchange three times or more in a week, sometimes I quit if the market is too uncertain for me, Trading is more risky because you can lose all your money, but mining is less risky if you can focus on Bitcoin mining, the worst is less profits and if you can hold for a long period of time you will reap more profits.

Hmm, probably you need to first understand what's behind bitcoin mining and trading. Let me try to explain the difference:
1. Bitcoin mining is the process of using special equipment to solve hard tasks and get paid in Bitcoin. Mining needs a big investment up front, technical understanding, and cheap electricity. It can be successful, but there are now a lot of people doing it. This means the difficulty is already increasing and the rewards could be decreasing; besides, the next bitcoin halving will come in 2024.
2. Bitcoin trading is buying and selling Bitcoin on platforms for other cryptocurrencies in order to make money from price changes. You don't need expensive tools to trade, but you do need to learn about market analysis and trading techniques. It can be easier for people who are just starting out, but it also has risks.
Other things you can do with Bitcoin are: invest, which means just getting Bitcoin and keeping it as a long-term investment; stake, which is the act of holding certain coins in order to help the network run and get rewards. Lending, which is using reputable platforms to lend your bitcoin and make interest and development If you know how to code, you can help make Bitcoin and other similar projects better.
Now, it depends on you to decide which one is most suitable for your current condition.
 

If you have enough money then you can focus on mining Bitcoin. Beware!, there are alot of risks involved, it is more complex than regular bitcoin trading and requires alot of maintenance too. So make your research and choose the one the suits you more .

Im not sure how aside from this would you make profits in bitcoin. Here in forum some are being incentivized  bitcoin through signature campaign and sometimes raffle or any form of games. But doing trading is a gamble unless you know how to deal with charts and indicators of trading but still its not guaranteed. While in terms of mining, based on what I read from experience miners, their profit is not huge and especially if its conaumption is quite high on electricity. Maybe on some countries that have free electricity this is very profitable but only few areas or countries have that kind of privilege. The best one to gain profit is investment. Buy bitcoin at some point and forget about it. See it for like few years and boom. Who knows how much profit you already made.

Trading is not a money making method, it's more like gambling. There is no proven strategy that would allow you to be in profit in the long run. The only strategy that has been working well so far is buy and hodl for at least 2-3 years, but that's not trading, it's long term speculative investment.

Mining can be quite profitable, but you need to have access to cheap electricity, you need to have some money to invest in equipment and run the operation, you need to deal with legal risks, because in many parts of the world mining without permission would get you into trouble. And lastly, mining comes with a risk - the price can fall and your operation will become unprofitable.

Also, stay away from cloud mining, it's a 100% scam.

Bitcoin journey doesn't have to be trading or mining or sig campaigns or bitcoin business. You can just earn fiat money and buy Bitcoin with them.

The Cryptocurrency market is currently still unstable and Bitcoin price is down around -70% from the last ATH price. At this time it is more advisable to buy and hold long term, or if you have good trading skills it is also necessary.
And for mining at this time it is not recommended because mining requires quite a lot of money and the profit for mining is still very minimal.
The biggest expenses for mining are the large electricity consumption and maintenance costs for the mining tools used such as VGA Cards.

None, as a newbie you should stay away from mining, (solo mining) as this is not suitable anymore as it will cost you huge money. Trading? yeah it might be good but if you don't have the experience then you could lost money as well in the beginning.

The best thing for a newbie is just simply accumulate bitcoin thru DCA.

You can used this simply app: https://dcabtc.com/

I am also against trading, OP is already frustrated with his life and family and has a family to take care so it is better to avoid extra pressure from trading. Also trading needs more practice and time to master the skill. On the other hand mining need huge capital and continuous supply of electricity if OP can have the budget to mine bitcoin it is better to start mining. Mining is also kind of passive income you can do other things along with mining.

What I can advice is to stick to just investment for now.
In the sense of buying BTC and just stock pile it up for a duration. I have not seen any other better method apart from this for newbies.
My why is simply, once you get to learn more about the market and technicality involved in making profit from BTC investments, questions like this would sound much more like, you giving direction to old users on how to overcome charges hike and keep phrases secure and wallets secure from hackers and scammers.

Well I can say if you have gone far in both Bitcoin mining and trading of Bitcoin there are good profit to be made from both of them now it depends on how good you are in the field. Also you need understand of Bitcoin mining and also understanding of Bitcoin trading. Finally you need to understand the capital it takes to set up both the Bitcoin mining and Bitcoin trading
Read this helpful link to understand Bitcoin mining
https://www.investopedia.com/terms/b/bitcoin-mining.asp
https://cointelegraph.com/news/how-to-build-a-cryptocurrency-mining-rig
https://www.bitcoin.com/get-started/create-bitcoin-wallet/

This can help you understand trading the basic level
https://www.investopedia.com/trading-4427765

Investing, that's what's perfect for a newbie just joining the industry, you can catch up with other means of earning from the industry in the future when you have understood the industry properly but if you're just starting then focus on investment. Investing has no stress involved, you'll just have to buy your Bitcoin and hold. After it gets to your targetted price you sell and either reinvest the profits or do with it as you please.

Both mining and trading are good means to keep the cash flow coming but I strongly recommended you shouldn't be much interested in cash flow at the moment. If you still want an answer between your options then I'll favour trading to mining. Starting up a mining farm is very costly that if you had invested that money into your trading account you would probably make more profits trading then mining (this can only be possible when you're good at trading). If you don't know how to trade then don't go for trading unless you're okay with learning before you start.

I advice you to choose the trading and learn more about trading, strategies, analysis types,etc

Trading can be started by anyone who has smartphone, internet and small amount as trading capital whereas mining is no more profitable for individuals unless they have enough hash power to beat the existing miners all around the world so I don't even know how much capital needed for someone to build that big mining farm in this 2023.

I'll choose to mine if I've got the resources to buy all of those ASICs that can sustain somehow my daily living as well as help my family. But, it's not that easy to do because it will require you much capital. Whilst in trading, you're taking all the risk and it's not easy as well even if you've got the resources and capital, you need to grow it through trading. With all of the choices to sink in to my reality, the best option which will be agreed by many is just to buy and hold. Nothing beats that honestly.

Bitcoin mining needs a lot of capital to start, you also have to make sure that your electricity bill is very cheap and you have to spend money on the best ASIC miners to get the best out of your Bitcoin mining.

As for trading online you don't need much money, before I started my trading lessons I always use a demo account for training and when the time is right I started with $20 to try out my knowledge with trading, and to my surprise things seems very fine for me, So trading is easier but it is also risky.

If we are to talk about which one is more profitable, that will be very difficult because to make money out of trading you have to be very good at it and you can make life-changing money with trading if you know what you are doing.

As for Bitcoin mining, after spending a lot of money on equipment you have to keep mining Bitcoin and hold your bitcoin to get the best profit out of your mining, now we are in bear market, you should mine and hold for better ROI.

Mining VS Trading

• Mining needs big capital since i think you want to see those mining rigs running, trading on the other hand you will need one computer a decent one to begin withl
• Electricity is a concern since you will need to contact electricity provider meaning you will need to process lots of papers and a lot of money as for permit
• It will be a big challenge for you to go to trading in the start but , if you can control your emotion and hodl when you have bought the dip you'll be fine
• Avoiding scams and compromise your network is also a concern, avoid making other transaction on the network
• Securing also your wallet in trading is a must same with mining

If you'll ask my opinion I would go for trading since bigger chance of profit just study the coin first or do more research, mining is not the same, unlike year 2009-2016 things have change, electricity cost are high, solar power needs huge capital to build.

Bitcoin trading and mining are both lucrative but they both require capital and knowledge to engage in. Mining requires a lot more than initial capital because it involves plenty money to be able to sustain and keep your mining profitable. As a newbie you may not need to be in a hurry to start any of them, just buying and keeping it can be good for you, but since you are in a hurry, you may feel that that is too slow. Always remember Bitcoin cannot make you get rich quickly.

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.

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.

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.

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.

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.

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.

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.

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 is mining Bitcoin, trading Bitcoin, gambling Bitcoin, invest in Bitcoin.

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?