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Yes trading do works but its profitability depends on the ability and expertise of the investor. It needs a lot of knowledge on the part of the investors in order to be a successful trader. He should be able to make prediction by analyzing the graphs and charts. There are many risks involved in trading as the price may move against your expectations. But yes, with experience you’ll be able to earn huge profits in trading.
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I can’t think a proper strategy that can work for everyone in crypto market. Everybody has his own way of investing in the market. But some general tips can be research properly before investing in any coin about the team of developers, price trends, etc, don’t be greedy for earning profits, never invest more than what you cannot afford to lose, and don’t panic and have control on your emotions.
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According to me, all that cryptocurrencies need is the support from the government and countries. The negative attitude of the government towards cryptocurrencies is the major hindrance in development of the cryptocurrencies. Also, there are many loopholes in the crypto market like security issues. But these problems can also be fixed easily with the supportS of government.
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The major reasons for the world economic slowdown are increase in population and unemployment. But I don’t think so Bitcoin can help this directly. A huge population of the world is still not ware about the cryptocurrencies. The governments are not even ready to accept it and legalize it. So we cannot expect Bitcoin to do much for the economy. All it can do is fulfill the financial needs on individual basis.
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In my opinion, Bitcoin will win. Bitcoin has a stronger community of investors and supporters. It has a much higher adoption rate and market capitalization which Ripple cannot achieve easily. The very foundation of cryptocurrencies is based on a decentralized concept. So, there is no point of centralizing it. People, now days have started understanding this, so, Bitcoin will definitely win.
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According to me the top 5 coins will be
1. Bitcoin
2. Ethereum
3. Litecoin
4. Ripple
5. Monero
All of these have great potential and a growing underlying technology. These are easily available in the market and can survive in the long run. As the market is low now days, it’s the best time to invest in them now.
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You might be true. But I don’t invest in any bounty campaign unless I know the possible value of the rewards. You should do some research on the bounty campaign before investing in it. I agree that you can never know in advance the exact reward you will get and the future roadmap of the project but studying and researching the project carefully will reduce your chances of receiving something worthless.
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No, there is nothing like facebook is against Bitcoin or facebook has some problem with it. Due to the advertisements shown by fb, many scam projects were becoming popular due to which many people start becoming victims to such project and lost their money. Therefore, facebook banned the advertisements of crypto related products or news so as to save the people from such scams.
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How is trader life in the future?A trader is the country's wealth?
Trading is a risky and a tough job. The life of a trader is not an easy one. It revolves around the monitor screen studying and analyzing the market properly. Therefore, it is suggested that trading should be done as a side job. There is no doubt that there are big profits in trading but big profits come with the risk of big losses. So, the life of a trader is not free from risks. |
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There are many points that a traders should consider in order to be successful. As there is time shortage in part-time trading, one should manage his time effectively. He should study the market trends, technical analysis, graphs and charts carefully. But in order to become successful in something one needs to have adequate experience in that field. Similarly in part-time trading, expertise comes with some experience.
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There are various reasons that people do not want to invest in crypto. First is that many people are unknown about the concept of cryptocurrency. Second, people are afraid to invest in cryptocurrency due to various reasons like risky nature and instability of the crypto market. Further cryptocurrencies are not recognized legal by many countries. This restricts them from investing in cryptos.
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Yes, government fears Bitcoin. Bitcoin is decentralized which completes the transactions without the involvement of third party. This endangers the existence of commercial banks and central banks. With the end of central banks the government will lose control over the financial sector of the country. This can also lead to tax evasions and using Bitcoin for illegal purposes.
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Whoever said that trading is easy is highly mistaken. It’s in fact the toughest type of investment. Then for deciding the coin in which you should invest, you have to check the past performance of the coin, its present worth and market capitalization, the project behind it, its white paper, and, the team working behind it.
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There is no as such a professional course or a degree you need to become a trader. But it is not easy to become a trader, as it’s not about just holding the money for long time. To become a successful trader you need you have many technical skills as you have to make many predictions about the market, knowledge of market trends and cryptocurrencies principles and control over your emotions. All of this comes with a lot of experience.
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This entirely depends on the people for what they are using it. The illegal acts you mentioned like hiding their financial transactions from the government, promoting terrorism, used to buy drugs, guns, etc are and were being done with currencies like dollars also. So does it mean that dollars kill people? This is the fault of people that they are not looking at the advantages of the cryptos but rather using its disadvantages for illegal acts. Instead of blaming cryptocurrencies, the government can make some regulations to stop these acts.
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Bitcoin is undoubted the king of the market. It was the first decentralized digital currency, has the highest market capitalization, highest adoption rate, etc. but I don’t think Ethereum is the queen. You can rather address it as prince or Bitcoin’s son because Ethereum is following Bitcoin in terms of market cap, adoption rate and many other things.
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