I wonder why some traders are still experiencing losses in their crypto trading upon all the impart professional traders are imparting traders in some trading section to ensure traders know when to trade to win and when not to trade to avoid losses. Can you make everybody to win in their crypto trading? ~snip~
Well, technically yes but if you ask if I can always make them win? no I can't. Many professional traders or influencers share their tips and tricks on social media and recommend when to buy and when to sell. When they share something like that indirectly they make everyone who follows him will win in their crypto trading if his tips work well. But we never guarantee anything when we follow someone movement even our strategy will often be wrong. Don't be greedy in trading, because greed will only make your profit become losses in just one night especially when you trading altcoins.
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If we assume then surely I'd do Bitcoin and split evenly between ETH and ETH and go hodl for long term because long term investment is probably the best method for me to generate a good return in the future for long run. Since I don't really have that much time anymore to do day trading, then those 2 altcoins really fit to invest long term alongside of Bitcoin due to their strong community and teams.
Before recommended with long term investment have to see OP any decision with short term or long term trading, usually if not get stable financial they will prefer short term investment than long term and try how consistency earn much profitable in daily day. Actually Bitcoin is very recommended for OP regarding how much capital he has, its not matter with short term or long term during earn much profitable but if OP get another income will prefer keep use long term investment in bitcoin. For altcoin I can recommended only BNB and ETH, very risk when recommended some one for investing with other altcoin looking how potential price drop significant and difficult get recovery. Long term is really good for Bitcoin, many altcoins become dead projects in a year, two years, etc. It makes us to hard to look at altcoins to invest in because of the high risk of scams, rugpull, etc. Probably the second best crypto other than Bitcoin is ETH right now because lots of ETH ETFs coming this year making the ETH market will move like Bitcoin. Almost $2B gone from hacks, scams, rugpull according this article https://www.coindesk.com/tech/2023/12/27/crypto-users-lost-2b-to-hacks-scams-and-exploits-in-2023-defi-says/. Looking that amount in one year is really risky to invest in any altcoins.
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All coins we are going to invest is too risky and it will become too risky if we don't have little knowledge about that coins we are going to invest but even though it's too risky but still we can find a good way to handle it. Cause we all know that we can make more profits. But as what i said we need to study first the coin if it will make us satisfied in the future or it will fail us. Research is the most effective way for investment so without hisitation we must conduct a research first.
Even with researching the project, we can't avoid the rug pull, scam, or abandoned project. I agree that investing in altcoins is very risky that's why we should prepare for the worst when investing in cryptocurrency especially altcoins, we need to be aware that coins with unhealthy gains could become a rugpull and end up becoming scams also don't forget to use money that we can afford to lose.
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I understand reading your edit that you already have an idea of fear...
I think it is not about fear, it is always something normal, no one wants to lose money, but when you manage to stipulate the loss as a stimulating factor to stop being afraid, it is the way to turn that fear into a profession or being able to trade.
Overcoming fear is just the beginning, it does not guarantee success...
That same situation, whether successful or not, in commerce, leads you to various "opportunities" among those you mention, the airdrop, etc. Then you simply decide what you want to do, but no matter what you do, one way or another you end up trading.
I agree most people doesn't want to lose their money but want to keep in profit in trading, we know that thing is impossible because anything can happen in trading especially when we trade altcoins which the risk is more bigger than Bitcoin. to overcome our fear and making ourselves ready to lose is using money that we can afford to lose because it won't burden your mind when we losing at trading tho. Many new traders entering crypto market just want to earn lots of money without realising the risk behind it, in the end they start with minimum knowledge.
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Over time, I've heard discussions about inflation and the rising cost of goods and services across almost every sector on the world economy. However, suggestions have been made in various ways on how best to tackle the menace called Inflation. Recently I have personally thought that one of the ways to fight inflation in an economy is to increase minimum wage. More so there has been a back and forth argument on these, as some persons argue that the increase in minimum wage will rise the bar on commodities, because they feel hence you increase the purchasing powers, it will have a multiplier effect on the economy which might be challenging.
So guys, is increase in minimum wage not a good measure to fight inflation. Let's have your opinion.
No it's not, scarcity of goods would be the main factor why inflation always increasing. lots of young people didn't want to dive into the production field because they thought that if they worked on that field they wouldn't get rich fast many young people looked for a way to get rich fast like by gambling, investing, becoming famous, etc. we need a real solution for this and young people should open their eyes that crisis would happen at any time. You can read this reference: https://www.investopedia.com/articles/markets-economy/090516/what-are-pros-and-cons-raising-minimum-wage.aspIn that article stated "raising the minimum wage believe that higher wages could lead to inflation, make companies less competitive, and result in job losses".
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~snip~
I see so many people that come around here sharing how much bitcoin they own...don't. Just like any of your finances such as your portfolio or how much your annual salary is..it's no one's business but your own. Being transparent about these things can be harmful to you in a multitude of ways. As an advisor this is something I tell my clients all the time. Your financial info is private and should always remain that way. I hate these new social media trends where people walk up to strangers on the street and ask things like "how much do you pay in rent" or "how much money do you make a year"...ignore them!
I saw someone who tells how much they have as an influencer to attract for their new follower, I never see someone like my friend telling me how much they have but just said that they investing in Bitcoin. Telling how much you have is not that risky I guess as long as we keep ourselves safe from hacking methods, if we can encourage our friend with our portfolio from Bitcoin so he will learn about Bitcoin I will gladly show him how much I earn just holding Bitcoin in a year from the last bottom price.
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Determining whether Solana is a good investment or a result of FOMO (fear of missing out) depends on various factors including your investment goals, risk tolerance, and the current market conditions . Solana's groundbreaking technology and growing ecosystem have attracted significant attention from users. As a result its value has increased. Understanding Solana's fundamentals by conducting thorough research and assessing long-term performance can help investors avoid succumbing to emotion driven valuations.
Well, I believe Solana price can go higher than right now and maybe many people miss the price at $20, but if we take a look Solana market movement we can expect the double top to happen and another correction incoming. If we're going to invest in Solana because of its utility, the community, the unique development, etc. we can invest right now without caring about the price, but in the other hand if we're looking for a profit in my prediction Solana probably going to have double top and another correction, when that happens we can buy the dip again.
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Bitcoin has already crossed $50k and it continues as the halving is approaching. Against the price of a single bitcoin, $600 doesn't constitute a big profit. Keeping it in mind, it is good to focus on altcoins, particularly the altcoins on the top order priced less than a dollar. Surely you can enjoy a good profit this year. A few of them were suggested in the above post. Investing $600 when the price of bitcoin is at $50k and making another $600 when the price of bitcoin reaches $100k isn't big. If lucky, the same can be made out of a $100 investment in some altcoins.
Indeed. Investing $600 is too small for Bitcoin. If we want to get significant profits, we must wait for a longer time. But if we invest $600 to altcoins, there is a chance to gain profits significantly just in a few months. It is because the prices of altcoins are more volatile, it doesn't need Bitcoin halving to increase the prices. When there is good news on the project, the price easily skyrockets. Moreover, when the Bitcoin price increase quickly, the prices of altcoins also follow it. We can see many of altcoins are increasing their prices when Bitcoin crosses $50k today. Well, I think it is better to invest in top altcoins with cheap prices if you only have $600. MATIC, ADA, XLM, TRX, and HBAR are some good options for the investment. However, it is my perspective, it is not an advice for investment! Always invest with your own analysis! ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) ETH is probably the best option out there since ETH ETF will be coming this year, hopefully. We can earn much if we want to use leverage on trading Bitcoin although the Risk is very high but I guess that risk is not far different from investing in altcoins, even top altcoins won't guarantee our profit if we look like FTT and LUNA. If ETH ETF comes this year we can see ETH price movement just like Bitcoin soon because when we see Bitcoin have ETH news it made Bitcoin gain more than 3x. lots major player will enter ETH ETF just like this: https://www.coindesk.com/business/2024/02/12/franklin-templeton-joins-ethereum-etf-race/
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Purchasing a hardware wallet is a viable option for safeguarding your cryptocurrency, but it may not be feasible for new investors who prioritize earning profits from their initial investment. This may change if they have a substantial investment and surplus funds to allocate towards a hardware wallet.
Hardware wallets are available at an affordable price. For instance, you can get the Blockstream Jade for only $64.99. There's no excuse for leaving your Bitcoins unprotected. If you're in a very tight financial situation, you can simply make your own paper wallet and hide it from prying eyes. Self-custody of your coins is a must these days. Especially when centralized exchanges are a constant target of hacks. Some exchanges even went down the hill in an instant due to mismanagement of funds (FTX, Mt. Gox). By maintaining custody of your coins (by holding the private key or seed), no one will ever be able to steal your BTC (assuming you follow the necessary security precautions). Hopefully, the number of hacks will decline as more people use non-custodial wallets and/or services. As long as Bitcoin stays decentralized, there should be nothing to worry about. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) Yeah Hardware wallet is more safer by overall I guess it only has one weakness, when you lose it ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif) . People may be unwilling to spend more money on wallets instead they will choose a free wallet with a good reputation, If we never become a victim of a hacked exchange we never think that a Hardware wallet will be a priority. If we still want to store our funds in exchange at least we can use a few top exchanges to store our funds to prevent something like the FTX incident happen to us.
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I think, trading coins in the market give more income than tokens because if you trade Bitcoin in the due season which is bullish season, it will bring you huge amount of income that will give you confident to always embrace the coin in the market whenever there is a bearish market. If you can research deeply concerning token investment, you will know that tokens investors don't have much income to achieve from their investment, because if you hold the token for long it will make you regret for taking such decision in your holding. But if you hold Bitcoin like 5 or 6 years before you can trade in the bullish market, it will open your eyes to know that coins trading bring more income than tokens trading.
Yes, of course coins, if possible, are only in Bitcoin 😅 Of all types of trading and holding, Coins or what is more guaranteed, holding Bitcoin provides many benefits and advantages. Especially when it comes to long-term profits or storing value, this has been proven and perhaps many people have been saved as a result of this. Yeah it depends on our strategy, simple to say if we're looking for long term go for Bitcoin if we're looking for short term go for tokens because most of the tokens only last 1 to 2 years lots of tokens will stop their project because many reasons like bear market, can't follow the trend, abandon by the developer/team, etc. Don't be too greedy when we are investing in the cryptocurrency market even if it's Bitcoin because it's good if we know when to sell and when to buy.
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Because Sleep dreams that the tendency to suddenly become rich ![Cry](https://bitcointalk.org/Smileys/default/cry.gif) This is not really normal because meme coin is more dangerous in this crypto market. They always collect money from investors by showing amazing attractive offers. In reality their project does not last long in the market because most of the team members of meme coin are new generation and they have less experience. They are coming to the market only to grab the investor capital completely. Well we don't need to buy meme coin if we want to get rich tho because we can rich slowly with our effort. I guess meme coin become so popular because they can make a person become rich in one night but because of that the risk on meme coin is really bigger than on other altcoins, people who want to invest in meme coin should know the risk and use their money that they can afford to lose. It's not an easy task to search for a meme coin that gives us big profits in a short time because many scammers take this chance to scam those people who just newly enter the crypto market.
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Is there a wallet that stores more than one crytpo on your desktop?
Well I store my altcoins on Metamask and Bitcoin on Electrum apps, using those two already made me comfortable when moving my balance to other exchange. Until now I never faced a problem with those two except for a mistake I made myself when I opened a website I didn't check if it real website or phishing in the end I login to Metamask the phishing website and lost all my funds. You can check for the top Desktop wallet here for reference: https://coinledger.io/tools/best-crypto-wallet
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there are skills traders needs to acquire in other to be successful in the crypto market, and I will be talking about them, which are;
~snip~
Yeah lots of skills that we must learn and everything needs time to learn, however lots of people will get bored when they should learn lots of skills especially when it takes time. We can try trading immediately with funds that we can afford to lose so when we practice our analysis we can earn some profit if our decision is correct. We often hear that with trading we can earn more than when we work full time but if we're already good at trading so it's better to keep working along with learning trading.
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I think trading is for everyone. I mean everyone who is ready to take risks, dedicated to learning and honing skills. Maybe you are right that beginners will experience some losses, but for persistent people, it is just a journey to success. In reality, everyone was once a beginner. and everyone experiences the same thing, right?
Just, never buy with the money you need to live. So that if something bad happens, it doesn't affect your situation. and don't forget to do an analysis first. study it first, watching it, and do it slowly until you understand how it works. And be careful about what the media says. mostly it's just creepy icing on the cake.
Yeah everyone who starts a new journey will experience the same thing, and that's why our preparation should be good enough before we start to take risks like you said lots of people end up using their savings money to spend on risk assets and could end up losing everything. lots of people don't want a long journey to start what they know is when they start trading they will get rich, we can't forbid people to trade instead we should encourage them how to start trading in a good way. I guess everything related to skills is not meant for everyone cause it is meant for those who want to learn, who want to try something new, who are willing to sacrifice their time, and much more.
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