Bitcoin Forum

a friend of mine came to me and he asked, is it possible to invest in bitcoin and crypto for the short term,? which is to meet daily needs, and I am confused to answer because I am still a beginner in bitcoin and crypto. and I want to ask everyone about it?

What do you mean by meet daily needs?

Do you mean you want to invest in Bitcoin and then have it generate income for you? Very difficult to do.

If you bought in 2015 at $200 you could of made good money. But buying at $20000? How high can it go. Maybe 3x or 5x. But you won’t get rich off it.

That ship has sailed.

In the short term Bitcoin may be more likely to drop in value than to rise, and your friend might have to cut their losses if they invested money they can afford to spare.

Bitcoin doesn't meet daily needs, that's what a job does.
Bitcoin is a currency which doubles as an investment for many.
I would not advice your friend to try earning passive income through any of the DeFi or staking methods as they are very high risk.

You technically can — but as a beginner, what are the chances of you being successful with a short term hold? Very slim. You're better off doing something else whereas you can have far more control over the process and the result (business/gig/work/etc). With things like crypto or markets in general, you can make great picks, but short-term volatility can mess you up.

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Investing in crypto isn't come easy. Although we have so many aspect that could earn you money in the crypto space but it requires enough knowledge. Crypto isn't for the lazy ones. He can invest if he's ready to learn and utilize his/ her time for it. Going into crypto trading after learning it's various skills can help in settling daily needs but this is somehow risky if one doesn't have good knowledge about it. Cryptocurrency is interesting and profitable if done right.

There's no guarantee your investment will always make profit, especially right now when the market is still unhealthy. You can do invest short term in Bitcoin and crypto, but you wouldn't always make profit to be used for your daily expense. IMO short term investment is similar like trading where 95% will lose their money and only 5% people who make money. It's better if you find a job in your real life rather than trading when you're still new about trading.

You have to be a day trader if you're wanting to earn from bitcoin to sustain your daily needs. But as a beginner, you'll need to invest a lot of time until you can do this as your full time job.

As both of you are a beginner, tell your friend that it's possible but for guys like you, it won't be as easy. And before you come to that point, you'll learn a lot of lessons of losing and I know that you don't want to have it.

What I have read many times on this forum is that investing in bitcoin is not a get rich quick scheme and looking to get profit from bitcoin requires you to be patient, the kind of patience which your friend who wants to invest to meet his daily needs will not have. Read through this topic "Educating people on Bitcoin for free (https://bitcointalk.org/index.php?topic=5407330.0)" and the responses, you will learn better from it to advice your friend well. To meet basic needs your friend needs to try to improve his income, either by learning a profitable skill or becoming an employee to a company. Trying to invest in bitcoin when he cannot meet his daily needs yet can easily get him into a state of depression if the price of bitcoin falls.

Your friend is only one of those who probably heard or read somewhere that Bitcoin is some kind of magical internet money from which some people have become rich, which is not something to be surprised about considering the way Bitcoin is trying to be presented to the masses. The whole thing is of course completely different, but various scammers use people like your friend and you and promise them 100% or 500% monthly if they invest their money with them. The old rule says "if it's too good to be true, it's a lie."

Briefly and clearly tell your friend that the answer is NO, and not to accept any offers from social networks or so-called friends who might convince him otherwise. He can get a free lunch from you or another true friend, and everything else is just an expensive scam.

To get a clear answer, you must know the amount of your capital and how much your daily needs are.
If your daily needs are in the range of 3 to 15 dollars, with a little technical knowledge and the appropriate capital (more than 3000) you can achieve this easily.

As your needs increase and the invested capital decreases, the return will be more insistent.

When you are having the mentality that you want to invest in bitcoin to make daily profit, I get wondering how you want to do that and succeed with it. You will need to trade it for you to have kind of daily profit but that is not easy. Bitcoin hodling is also not easy to profit on short term so is a discouragement already.

It is possible to do that, but if it is to fulfil his daily needs, he needs to learn to analyze the ups and downs of the market so that he can buy and sell bitcoins for profit. From that profit, he can fulfil his daily needs, and if he is more proficient in analyzing the market, he will be able to get more profits. It's just a matter of time before your friend can benefit, and it depends on how he learns. Maybe you can also study with your friend so that you and he can share each other's experiences to improve your abilities.

I think you friend has a very wrong information or perception about bitcoin. He feels investing in bitcoin is like a small scale business where you make some profit for daily survival. If he is searching for a business that would give him daily income, maybe he should consider starting a firewood business to assist homes that are experiencing power cuts or high cost of gas. Cooking gas in my country have soared to almost 80% high and people are searching for other source of fuel.

If he really wants to invest in bitcoin he must have the virtues of patience and courage. Your friend must be willing to Hodl bitcoin for a long time because the bullish market season is unpredictable.

How can one meet his daily needs from a market that sometimes experience losses for weeks. OP's friend wants an investment that he can derive funds that would sustain him daily. There is a possibility that he might loose even half of his investment in one day.

Called investment, there will always be risk and investing in bitcoin is not an easy investment that can meet daily needs. Bitcoin is a very risky investment, you can make a lot of money from it but you can also lose it all if you don't have enough experience in the market. Day trading can also be considered a short term investment, but to make money by trading you need a lot of knowledge and experience that a beginner will never be able to do.

Tell your friend that he needs a steady job before he wants to invest in bitcoin, and absolutely do not use borrowed money to invest in bitcoin, it will bring his life to a standstill.

It would be very wrong to invest in cryptocurrencies to meet the needs of everyday life. At the moment of a possible fall, the money in your hands disappears, and this time you will not be able to meet your needs.
If you want to invest in bitcoin and other crypto currencies, you should invest with the increased money you have. You should even consider the crypto coins you receive as they will not be used for a long time. In this way, you will get more profit and your mind will be at ease.

what i think he meant is that he wants to invest in BTC and earn thru it that he can withdraw money to spend for his daily needs. it would make sense for someone with low capital and needs to provide for himself to survive. this can be done in leverage trading. but him being a newbie, it will be very difficult to achieve without much trading experience. his best way of getting more profit is to hold for long term. as for his daily spending, he needs a job.

It is possible to invest in Bitcoin for short-term period but don't expect to have a high profit.  Though it is better to do day-trade than make a short-term investment in Bitcoin because at the current condition of the Bitcoin market, it is somehow hard to see Bitcoin surging in a short span of time.  I think it will take several months before we can see a decent profit in the Bitcoin market.  He can try altcoins but the risk involved in investing in new altcoin project is huge.


Better to find a job or set up a small business (like a food stall or sari-sari store) in order to meet daily needs.  Bitcoin investment at the current market condition will take time before you can make a profit and is not suitable for meeting everyday needs.  Until your friend is an experienced day trader, I think the thought of investing in Bitcoin for daily needs will fail.

I think by "meet daily needs" he meant earn passive income daily or so.
@OP best to tell your friend it will be difficult for him to invest in btc short term and earn daily income from it, even if he engages in btc staking from one of the centralized exchanges, he needs a good amount to invest before he can earn any reasonable daily income. However, if his daily spending is not so big, maybe he can manage with a small investment.

If he is ready to lose money yes, it is possible. You can go long or short on bitcoin and can make or lose money in a short time. However, you can go long or short on almost any financial asset or currency. Then, why choose bitcoin?

If he wants to make money by holding bitcoin then it is probably not going to be possible quickly. Getting rich by holding takes time. Is he ready to wait for more than a year? Probably not.

I think a person like your friend should stay away from crypto.

If by daily means you mean using bitcoin as same as fiat in local banks where u do daily withdrawal I don't think it's advisable due to transaction charges although very low. But if you intend to save and probably withdraw monthly then it will be OK because bitcoin is at almost the bottom because I don't see bitcoin going down below 18k in months to come. As for investing to earn profits, bitcoin is fluctuating at the moment and only long term investment is advisable to earn profits. Or you use margin trading/leverage trading to earn but that's risky to even experts

You should never, ever use and invest your money in crypto if you are going to spend it for sustenance and survival. You should always make sure that your needs for living are met first before you invest in bitcoin. Add to this the fact that they clearly have no idea with how cryptocurrency works so it's gonna be a bigger problem for them if they rush headlong into short-term investing. Always remember that in investing, it is always better to do your own research, although advises are welcome and must be taken with a grain of salt. And most importantly, never invest what you can't afford to lose.

There are possible chances, but the same is risky when your plan is to make an earning to meet your daily life needs. Understanding this further you can step into the market and earn out of the fluctuation in the price taking place between time. Apart from this, it is one's ability to add bitcoin as payment for rendering your services.

If @OP's friend wants a profit on his investment, he should wait until the price can go up high and sell it at that point for a profit. But that meant he had to be prepared not to make a profit every day. That's why I said to learn trading analysis so that he can make a profit so that he invests and trades to help him make a profit. If he can study well, he can benefit because he knows when to trade, and I'm sure the profit is also good enough to fulfil his daily needs.

With such money and little technical knowledge, one can achieve $3 to $15 daily on Bitcoin trading but remember this won't always go ones way. People like this won't be ready for any lose, they will only believe in making profit always which can't be. So they get discouraged with little lost.

Investing as far as I am concerned is usually for the long term, this is the most guaranteed way to make better profits from Bitcoin unless your friend knows how to day trade ??? which I don't believe so. He is thinking of making profits for daily needs, I am afraid that this is not the best option for that but trading is also a very serious thing and needs every attention with no emotion.

We all have that question of "what could I do to get myself freedom". And this is another question about freedom. You may think that it is about money or investment, but the reality is that it's all about freedom in the end. Because, the question is not really if they could invest into bitcoin for short term and make a living out of it, because making a living out of bitcoin is not directly beneficial to someone unless they have another idea coming right behind it. That idea is that "if I could do that, then I would not have to work, and that means I would be free to do whatever I want in the world with the time we have".

Time is limited for each human, some live for a few minutes and die at birth, some live to be 100+ years old, but we all have a limit to it, and the question here is could we get some of it to us, instead of it belong to our boss. Unfortunately bitcoin is not the answer to this question for short term, maybe a good investment could give you a good freedom in your old age, but not right away, and not every month until you pass away.

It solely depends on the capital the person is having if he have $1000 and he wants to make 50 dollar with that everyday then it is impossible to achieve it consistently, but if the person is having $50,000 and wants to make $100 everyday with that then it is possible via trading or simply by holding and selling when the price goes up cause the margin is hige difference in both the cases.

If you are thinking about making a daily income to bear your living expenses, then the only option is scalping. This method can provide your friends enough to make a living if he has a decent amount of investment. Scalping is extremely risky and meant to be for professionals only. Your friends could lose all their funds without enough knowledge and market understanding.

As you have mentioned you are a beginner so it will be wise to observe the market and do a demo trade to understand trading charts. Though scalping is for daily traders still you should keep in mind that you won't be able to make profits every day so you should not overtrade.

Even a daily active income from day trading can't be guaranteed by Bitcoin.


True that the volatility of Bitcoin actually gives an opportunity to earn profit daily but it would be extremely difficult to profit from day trading Bitcoin every day.  Sometimes times traders will face bad trades.



Indeed scalping is the only way, but I doubt his friend is well-versed in trading.  So I think this method isn't advisable for @OP's friend unless I am wrong and @OP's friend is a professional trader.

It is very difficult to do scalping especially for a beginner. Maybe if I were the one who was asked like that I would say there is no shortcut to getting money that easy. Scalping is one of the trading methods, but I would say it is specifically for people who are experienced and can be called professionals in that regard. I personally as a person who can be said to have been in the trading world for a long time sometimes still finds it difficult to analyze market conditions when I want to start scalping. For beginners, it is not impossible to do but it is a very high risk.

Anda tidak perlu bingung untuk mengatakan kepada teman anda itu tentang investasi Bitcoin/crypto.
You can tell your friend, especially about the risks of investing in the crypto market, before your friend fantasizes about profits, especially to cover their daily needs.

The bottom line: investment can be divided into three parts, generally speaking and crypto users often talk about that: long-term, short and medium-term investments, of course the three methods are different to generate a good economy or profit.
Just take points, for the category of short-term investment.
• In the short-term investment method you can suggest for your friends to take a minimum period of one year, that's the shortest, short method when compared to other investments, Of course, the profit is likely to be very small when compared to other types of investment, for that if your friend wants to boost the economy in a short-term method, for example per day / week or month I am sure your friend will be disappointed, it is unlikely that he can cover the economy in the crypto world.

But if your friend does the trading method, it's most likely to cover his daily needs, on the condition that your friend has expertise in the field of crypto trading and also considers the risks that can occur at any time.

The only way to invest on short run for daily gains in order to meet with daily appointments and expenses is to invest a large sum of money in bitcoin and deposit it in a lending/investment platform for passive income which can be paid in a daily basis or every month or few months, depending the modality of investment of your preference.

However, it is not possible to rely on daily trading for a living, because it is like gambling, since the market is highly unpredictable on short run. A short sequence of bad moves can lead a trader to severe losses in few days, so just trade with money you can afford to lose. Never use money you will need later for your basic needs.

Straight no! Even when you do trading, there are still days that you can't gain profit. Earning bitcoin can't be done daily; it would take time, and if you are lucky, you can gain huge profits on it; that is the time that it can cover your daily needs for a few months or even years. Earning bitcoin is not like your typical job, that by the end of the day, you are guaranteed you earned money. It will take time and effort from you. Just think that bitcoin is like a business; we are curious if it would be profitable over time or if your strategy is working. Earning money in a short period could lead to more losses of money.

There's no certainty about meeting his daily needs because there is no daily revenue which could come out besides we are still in the bear market neither do short term investment help you. I believe investment for long term would yield more value than daily perhaps if you invested few years ago then by today you would have gotten your returns.
Otherwise I can say doing daily scalping would be the best for him at least with little amount of bitcoin will help you out to meet your daily needs.

First, I might remind you that short-term investment is an investment that has a shorter time, but even though this is said to be short-term, the time period for this short-term investment if we refer to the existing guidelines is less than 1-2 years.
And in this case we see a comparison of what you said about wanting to meet daily needs with investments, this is clearly very difficult to do, especially when referring to the word beginners.
you may be able to be in bitcoin for a certain amount of time but expect a large return in that period of time, especially for example with a capital that is not too large, obviously this is still difficult to realize even though it is still possible to make a profit there because bitcoin is definitely one of the good things to do investment.

Investing is passive. This is also more guaranteed because the price of btc can always recover and rise if given an adequate time but this isn't the one that op needs. Op needs something that are active just like trading and btc can be a perfect coin for this since it is highly volatile but he might need to learn and practice trading first if he is a complete noob.

In the meantime, he can look for other less/non risky ways to earn like finding a real job to sustain his needs and he can use some of his salary to practice trading at the background. He can also add investing on the side so that he can get something in case he didn't succeed in trading.

But for taking it as means of income to get your daily needs here maybe you get disappointed or get hungry because we don't know what will be the outcome and there are times that we lose if the price goes dump. So maybe we should invest only an extra money for this and never rely to get food on our tables because bitcoin investment is meant for long term to see a better result.

It is difficult to rely on profits from crypto just for daily needs while he is still a beginner of course he does not know about many skills in getting involved in crypto how to do it so you better tell him that investing in crypto is too risky and income cannot be determined from short term unless he understands day trading to do so.

If it's for daily needs, it's better to work it will be sufficient income for daily living expenses compared to relying on those who don't know what to do, so for me it's better to invest long-term in bitcoin it's more suitable for beginners because of all they do with bitcoin investment is while learning about their process so far in crypto.

No, Bitcoin is not meant for short-term speculation.  

With a high degree of probability, your friend will not be able to buy a cryptocurrency cheaper, but sell it more expensive.  

Currently, we are seeing a bearish trend in the price movement of Bitcoin and other cryptocurrencies.  In this situation, any purchases can bring a loss (instead of a profit).  

Another thing is if your friend is ready for long-term investments.....

Then the present time is a very good moment to buy the first cryptocurrency.

seeing the current situation it is very difficult if you want profits in the short term especially in limited quantities tend to be below 50% of the crypto price that we want to invest in, but it is possible for all, if you have a large enough capital at least 1 BTC I think you can get profits and be used in everyday life but with a note that the profits obtained are not maximized like we invest long term, this is just an opinion not to be applied because the situation out there is sometimes difficult to predict

Being a beginner, you will not be able to invest your money correctly, much less receive a daily income that would meet your needs. As in any business, knowledge and experience are needed to get a decent income. In the absence of the necessary skills, your money will be lost.

if for daily it seems to be difficult, especially if the capital used is not too much, surely the level of profit is also not much.
but if you use a fairly large capital, it might be possible, but I suggest just bitcoin, not other cryptos.

No, it is not just about the capital or money you'll be investing. No matter how much or how little you invest, without proper knowledge, it won't work at all, and you will lose all that money. Bitcoin is not like other simple businesses where you set up shop, hire a manager, and then your business is up and running. In this field, you need first to have knowledge and also to know what kind of investment you'll be doing, such as trading or just holding your coin. Without any knowledge, you'll just be basing your decisions on your gut, which could lead to losses.

Day trading is also considered a short-term investment but unfortunately his friends and he are all newbies. They have no knowledge of day trading so they cannot make profits in the short term and day trading is also very risky and not everyone can make a profit from it.

Whether you invest for short term or long term, cryptocurrency investment should not be considered as the main source of daily income for your family as there is no guarantee that you will always be profitable on your investment. Only invest when you have a stable job with enough income for your family and only invest with idle money. Remember that investing is just a side business to earn extra income or save for the future.

I'd just go with a straight no. We've seen the price of Bitcoin fell from $20,000 all the way to $3,000. It wasn't until 2 years later that it was able to get back to that price. A year ago, the price was a little shy of $70,000. Today, it is only around $20,000. That's around 70% lower. Although one can possibly make money in the middle of it, I'm afraid nobody is so good in short term buy and sell or trading that losses are totally avoided. And since market recoveries could take a while and expenses are always on a daily basis, it's simply not possible to just rely on its profit.

The market right now is bad, there is no crypto you will invest in right now that will give you a short-term profit, to be honest, but if your friend is willing to risk it, now is the time to buy bitcoin, the market is down with an opportunity to buy at low price.
I'm concerned about your friend about invest in bitcoin and expecting to have profits to meet daily needs, bitcoin doesnt work that way, you should do more research and teach him the basics though there are people who invest in Alts coin and stake them and have them withdraws the reward, of course, your capital have to be huge, the more you stake, the more reward you have as passive income but I don't like Altcoins because highly volatile, the teams can rug pull and runaway and possible hack attempt.

Right, I do not agree if investment in Bitcoin is the short term, if I can get profit in the short term then I'm sure the opportunity for long -term hold is better and promising. If the short term can profit 100% then the long term can profit 1000%.

Looking for profits in crypto especially Bitcoin in the short term in my opinion is not very effective. But maybe if your friend understands spot trading with all the good strategies, that's fine. Or trying to trade Futures? Unfortunately, everything that is targeted in the long term, especially just to satisfy needs, is not the right place because it has a higher prestige. In addition to the risk, in the end your friend will meet a deadlock and it can be a loss.

Not only bitcoin but I dare to assure you that there is no single investment that can meet your daily needs on a regular basis. If there is such an investment channel, I think people will not have to go to work early in the morning and come home late at night.

Bitcoin is like other financial investment markets, profits and risks go hand in hand, not everyone has the ability to make money from it. To invest in bitcoin first of all your friend needs to have a stable job and some savings to invest. For a beginner making profit with bitcoin will take a lot of time, bitcoin is not a get-rich-quick thing.

the price of bitcoin is very volatile, (become a short-term / day trader) it is still possible for your friends to take advantage of it to make a quick profit but remember, just one wrong step can make your friend lose his money.

there is one more way. although it is risky but the income from staking can be tried even though it is very small, if your friends have a lot of bitcoins, the reward distribution can be large.

you better explain to your friend to make Bitcoin as a long-term investment, he's better off looking for outside income and investing in bitcoin for the long term.

From yesterday until today I no longer see a red market except only with green, and if you still think about a red market. Try visiting the market today and see how many cryptocurrencies have gone up and are green. People who think bitcoin is a scam project only because the market is colored red.

It is people who do not understand Bitcoin and also their minds are so short that they will never think in the long term because of their dedication to getting rich faster. But he doesn't think it's nearly impossible to get in the crypto space.

I have calculated to put bitcoin into an interest account of centralized platforms, the first cons of it is that it's highly risky. Yeah, it's interesting and happy to see that you're gaining profit but at the same time, the risk is there.

It may take time until someone will earn bitcoin a living if he's just starting out. There are many ways of doing it for a living, like those miners and traders.

Of course, bitcoin can be traded in the short term, but the profits will be few because the price of bitcoin is somewhat stable in the daily term. As for trading in the long term, you will get double profits several times, if your capital is small, you will make only a little profit in daily trading. If you want to increase profits, you have to increase the capital, or you can trade in coins other than Bitcoin that have a low price and high volatility.

It's possible for that but I'm not sure if it can meet your daily needs because that means you should be able to make a profit every day. And that's not investing because as far as I know, investing requires a time where the money we use to invest is not used for other things.

But if your friend wants to fulfill his daily needs, it is not investing but trading and it is possible to make a profit every day. You better suggest that he should learn about trading before starting to trade because it's not as easy as we imagine.

That's impossible unless he'll trade it on futures and get lucky all the time. Generating profits by merely holding it and hoping to earn profits to sustain their daily needs is not possible, I think they would only feel depress especially we're in a bearish market. Starting a small business is much more a great idea to generate income while they are making their capital go big, nonetheless, it's all about risking.

Good question, being a beginner it is very important to note that starting an investment eith bitcoin is the most preferred advise you can get from this forum because it set you on a safer edge from other fraudulent source of investment that many get involved and end in disappointments, bitcoin investment is not what you can be getting a daily return on your investment each day as profits as other cryptocurrencies or centralized exchanges do promise, all you need is to invest and hold for a longer time of two or more years for you to realize a rise from the initial buying price to a new all time high value before you can then sell and realize your profit, this means you buy the dip and sell high whenever it surges, bitcoin isn't like other ponzi schemes, it's a currency and an asset you could rely on it future profitability, i would have also advise you go for trading but since you're a newbie this could be more dangerous to you because you may equally end up loosing since you don't know how to do so.

True, bitcoin is not a place to double money in a short time, it looks simple but the fact is that many people are crazy for losing money from bitcoin, it's better to use money that we can consider lost when investing in bitcoin so that if something bad happens then we don't cry or go crazy.

Fix your title first. And the answer is a simple No. You can't invest in bitcoin for short term and expect to meet daily needs. Very risky and highly likely he will end up losing money and won't be able to pay his bills. Show him the bitcoin chart, and he will see that the short term price is very volatile. Zoom it out for him and he will notice that the price  in the long term always has been giving profits.

Investing and getting returns to meet ends? Not at all. Trading is one thing which can help him but for that also you have to be a professional trader. Otherwise it's a very time consuming process and just like any other normal job. You cannot just start investing tomorrow and expect crypto to become your livelihood in a sudden span of time. Infact crypto markets can go very down from the tops which will take away your very own principal also for once forget about the gains on that.

He shouldn't rely on crypto short term  investment for his daily need, this is because he doesn't control the market, and when he's desperate to make money, he just won't stop making mistakes, I have bought some good altcoins for long term, but as the coins are pumping, I take some profit along the way. I don't sell all my position to avoid FOMO and getting nuke. Cypto is for the long term patient folks.

Short term trading in the crypto world is like paddling against the waves in the sea. If you are really good then you could potentially still do it, there is nothing that say it’s impossible, but it is also very hard to do so if you are a newbie then you are going to just get dragged along where the price is going.

However, investing long term is like sailing with the right wind, you will go wherever you want to go without ever touching a single paddle, the winds will take you there even while you are asleep and not doing anything. Some people prefer to do the harder one, no idea why but I guess they want a quicker result, but people like me prefer to work with the wind.

Investing in bitcoin for short term is not really a good idea, because your profit is not guaranteed, Bitcoin is not what you will invest in and after few month's you think you will be in good profit, if you really want to make good money, then you should be able to hold for long term.
I don't know what your friend means by meeting daily needs, do you mean your friend want to be trading bitcoin and he will be taking profit to take care of his daily needs? If yes, then your friend should know more about trading, or he might endup losing money. If he really wants to make good money, then he should hold for long term.

Why not when cryptos are highly volatile? And what about the traders? Traders don't wait long enough but they always take advantage of the swing of the price.

Many of us here doesn't have the ability to control the market but only the whales are the ones who can do that because you will be needing a very large amount of funds to be able to do manipulations but if you have that kind of fund, do you think you will do the same thing? I guess no. I wouldn't stress myself a lot to earn more and manipulating the market is also a sinful act. Mistakes are normal and if a person is desperate, he won't just give up but he will try his best to learn and improve himself.

I'd assume this daily needs are you can buy commodities such as electricity, foods, water bill etc in terms of daily. I'd say no to that
I don't really think that's a good idea to rely on Bitcoin especially when the intention of investing for Bitcoin is for "daily needs" which is really crucial if you fail in certain days, that'd mean no food for them.

There are million better ways to earn money aside of Bitcoin. Altcoin is good for short term but again I don't recommend it since both of you are newbie and the goal is for that.

It will be very difficult to preserve that, and given the current price of bitcoin, depending on it to provide for your needs is not a wise decision. Investing in bitcoin is good if you plan to hold onto it for a while, but it takes time before you start seeing returns. It is therefore preferable to find employment so you can support yourself. You should change your plans it will be better.

Of course he can.

Good that you are willing to ask.

You should tell your friends that investing in crypto or bitcoin carries a high risk of loss and high profitability due to its price volatility. You can never consistently make a profit, but it is always possible to make a profit in the market if you are able to do a good analysis. Instead of short-term investments, you might be able to tell him about trading if the goal is to make a profit for everyday life.

Remember, it's not easy to make consistent profits for short term investments or day trading if you don't understand the workings of the market well. Even if it's good, then you won't be 100% able to make it every day either.

Most people think that investing in cryptocurrencies is profit and then selling for daily needs, although this can happen but as investors of course we have to be realistic, cryptocurrencies sometimes experience difficult times like today where the market drops more than 70% in a year, it's better not to suggest to friends or family to invest, let them think for themselves and if asked then say that cryptocurrencies are very good but can make you cry.

So your friend asking out on investing on bitcoin and believe that he could get daily income or profit with it? The answer could be neither Yes or No.

Yes, on the sense that you could really make profits but you would be needing for you to be a day trader.Being profitable or being constant? This is where most people do try to do but majority
had been failed but there are actually people who do able to do so but of course only on few counts.

No, market is way too volatile and making yourself highly dependent on it would really be just creating that kind of desperation which is really
a very bad move to make.

it is very difficult to invest short term in bitcoin and crypto just for the sake of looking for a quick profit for daily needs.
if you really want to answer your friend's question, you can give your friend an understanding of bitcoin and other cryptocurrencies which have fluctuating prices and are very difficult to expect to always make a profit. I totally understand your friend having such a question for the reason he must think it is very easy to profit from investing in crypto. so he thought instead of working in a company or opening his own business it seems that investing in crypto is more profitable and doesn't have to work hard to earn money.
so in conclusion you just need to explain to your friends that bitcoin or other crypto can't always provide profits every day to be the main job.
and give advice to your friends it's better to work in a company or open your own business for daily needs and the rest of the money from the work salary is saved in crypto or in bitcoin to get profits in the future.



maybe what is meant by investing in bitcoin or other crypto in the short term to get a faster profit and the profit is used for daily needs

Day trading makes a profit but not every day, I have never seen anyone who can consistently win in the market without losing even for top traders. Professional traders are just that their win rate is higher than their loss rate and as a result they are still profitable, but not every day they are profitable.
In this case, my advice would be no: don't view investing or trading as a job that can bring you a daily income even if you are a good trader. Be a person with a stable job and income before thinking about investing in bitcoin.

Yes, but now's not the time because of the market behavior if OP and his friends are still new in this industry. Short term investments could be thru trading. There are sites and wallets wherein investors could earn profit by making technical analysis whether the price would fall or go up which generates profit on a daily basis but requires talent and hardwork on learning patterns. To sum it up, yes investing in short term is possible.


Losing is part of the process but that is correct;even big time traders suffer loss from day trading because the market price behavior itself is way too unpredictable. TAs are just guide but won't assure a constant movement. To people who aspire to be one of traders, invest in knowledge first in order to lessen the risk of losing or wait for a clear trend line on cryptos' market value or maket in general.

Investing in cryptocurrencies is not easy, there is always risk in investing and there is no guarantee that your investment will always be profitable.
Bitcoin is better for long-term holding for profit, short-term investing is not a get-rich-quick scheme.

Your friend can but the problem is how much is your friend ready to invest daily in bitcoin. Your friend can't just invest with less money like $10-$100 and expect to see profits daily. Your friend should invest big in crypto due to how expensive bitcoin is. Note* investing big doesn't guarantee daily profits. Although your friend is likely to have little or no profits. This is one of the reasons many crypto investors invest in the long term, not the short term so that their investment money will give them profits as they continue to hodl bitcoin in their portfolios.

I agree that it is not that easy to make a profit in day trading every day, it is rare for people to have 10+ days in a row profit every day for example, the longest I had was 4 days in a row, of course in bull runs it becomes easier and maybe you will break over that, but in that case everyone does and you could have just hold it and still made profit so it is not really a big deal.

It’s the bear market where day trading shows its power, if you are capable of making a profit even during bear period then it is definitely a great job. This is of course just my own idea of it, but that doesn't change the fact that it is definitely a very hard thing to do.

Is your friend also new to cryptocurrency? Investing in cryptocurrencies as a side business? Not recommended if you have no experience. Chances are that not only did you not make money, but you also lost your original money.
Maybe you might be lucky enough to get a fund, but you won't be lucky all the time. It's the same thing as picking a lottery ticket.

Your friend can try meeting his daily needs only by trading. But to be able to do that he needs a large balance, so that his 0.5%-1% daily income would cover his expenses. To be able to achieve similar with investing, he must be extremely lucky if he wants to do only short term investment. I would say that it is impossible to invest for few month, and withdraw daily holdings profit to cover all IRL needs. That would be to simple. The money dont grow on trees, it is impossible to sit and earn.

I think it’s great that new people are entering the crypto space daily and you should encourage your friend to do it. The more people that are part of this amazing new technological revolution the better in my opinion.

The increasing adoption of crypto currencies by the public will inevitably help us free many of us from the constraints of fiat currencies that are prone to inflation.