I am not sure whom you are defining as poor. In my country, poor people don't have the money or knowledge to invest in an IPO. They bearly live with their life by hand to mouth.
As an investor, I am also aware of the necessity of money management skills. But it doesn't mean you have to hire a fund manager for that. If you spend some time then you will also be able to learn the key factor and acquire knowledge about money management. Getting lucky with Shiba Inu doesn't mean you have good money management. Money management means risk distribution which is not so hard to learn if you can control your greed and emotions.
poor people in my country mostly they have low human resources, and partly because they are less fortunate. of the many poor people, they seem to only think about what they will eat later, so that long-term thinking such as investment or financial arrangements does not seem to exist in their minds, so this adds to the difficulty for the government, because they must be equipped with skills in order to survive. |
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If I die (let's be honest, that will probably happen), would my wife or family get my coins? What if they don't know my passwords/private key?
This is a question you need to ask yourself not the forum. I think there was similar question to this before now so you can always jump in to see similar replies for yourself. If you eventually die without disclosing your phrase with anyone, the that's nobody business. You can always get try as much to tell people around your secret phrase or where to get it, so they can steal from you...simple! and the way to give the secret key I think is by giving a will, because when we die of course no one will know it, it could happen if it is too early to tell at this time, so we need to make a will for people who will be the heirs of our assets later. if this is not done and no one knows, our assets will freeze automatically, because no one can access them |
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But 2000 btc is a whooping sum to store In a wallet or in a vault it's better to diversify your portfolio and send some Bitcoin on erand so while you wait to earn from holding which comes in massive you can still earn through other means like trading or running an exchange so you make profit from both ends
diversifying assets is one option to maintain the risk that will occur in our assets. With such a large number, of course, if you are a person who doesn't have much time, you will certainly prefer to invest, and of course security is the main choice even though you have to pay for it. |
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if we do not have sufficient knowledge in terms of trading, I think investment is a suitable choice for beginners. but it also has the consequence that we risk it in the long term so that we can make a profit later. High volatility makes many novice investors panic sell and end up losing money, they don't get what they want
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I'm thinking of starting out as a day trader. I'm still scouring the internet about information and tips about it, then I'll practice with paper trading. One question I have is about popular platforms/exchanges. From what I know, day traders make about 100+ trades a day.
Won't taker/maker fees basically wipe out your already slim profits?
There are certain exchanges that offer a relatively low percentage per trade- you could probably search this on the internet but I highly recommend using binance as your main exchange platform if you plan on day-trading. As per your knowledge that day traders do about "100+ trades a day", it is somehow worrying to have this kind of mentality especially that you are just starting as a beginner. My advice would be to trade as little amount as possible in order you could gain the experience of trading. Just like in driving, no matter how you read tips and guides about it, the only way to learn is through actual experience. indeed many platforms offer small fees, but we must also be aware of the platform's recommendations. I agree with you that Binance is the main choice for trading, because we have to put the safety of funds as the first choice. On the other hand, the coins listed on Binance are of course a lot of coins that have good quality |
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for me maybe I will invest half the capital for bitcoin, after that $750 for ethereum and $750 for bnb and the rest of course I will invest in other coins that I think have potential, so this will give a good return, but we also have to realize the risk is also big . The most important thing we have to instill in ourselves is to invest for the long term, so we don't panic sell in the short term
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At first beginner should start with bitcoin and etherium . It may the best for investment because it hase the highest market cap and volume . Some people use good analysis for investing that helps to make some profit. There are some project with high protentiality maximum people select these kind of coin for trading. Good project have always good number of investors. Before investment should know about the project very well।
Beginners can start with bitcoin and ethereum but not all have a lot of money to trade. Perhaps, they can start with a cheap coin but have the potential to increase. But I think, no matter what the coin is, if he can not analyze the price, it will be difficult for him to select the coin, even if he tried to select bitcoin to trade. Ada, trx, and matic are examples of cheap coins, but hopefully, he can better analyze and know when to trade. for the first time indeed we have to trade on safe coins like bitcoin and ethereum, and of course the longer we learn we will understand and have insight in the world of trading, even ways to find other potential coins, of course all of that takes time, so we just enjoy it This initial step is to choose a major coin to trade |
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I have been a day trader but want to know if it’s a good idea to hold bitcoin for long, whether it will be more profitable?
You can do both actually, it's great to have time for doing day trading because if you can get 1% profit a day and in a month you can get around 30% profit. But if you only have a little time for doing day trading it's better to hold for a long time tho because we already saw that crypto always gets their ATH in a few years. Dont forget to add more bags if you holding bitcoin as long as now it's price got a correction Mathematically it is true that doing daily trading has a large calculation if it is accumulated in 1 month, but trading is not that easy, because sometimes we experience losses. for those who are smart, I think choosing both will be better, but for those who are not consistent in trading, I think it will be better to focus on investing, in addition to learning to trade with less capital. |
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I have seen this kind of argument that just because the price of a commodity is high means that it is a great investment.
To a certain extent, a high price often means that investors have faith in the fundamentals of the commodity (For example, one of the most expensive shares in the American stock market is Berkshire Hathaway, which has consistently outperformed the S&P 500 since 1965).
Price doesn’t say whether the coin you’re investing in is good or not, unless we are talking about the market cap. I have seen coins/assets with ridiculous prices, but their market caps are nothing to write home about’ lol. While there are assets with a very low price that might even be $0.001, but when you check their market cap you will see that their market cap is really huge. That’s when you would be prompted to check the price chart to see how the coin has performed over days, weeks, months, and you would see that they have really made a huge percentage, and some of them would go from something like $0.00001 to $0.01. That’s still a low price, but it’s a huge profit from if you calculate it. So it’s not really a matter having an expensive price. right, a large market capitalization supported by a large and solid community will bring a coin to its glory, on the other hand, with the support of a product or a large plan of a coin will certainly add to its positive value. so a high price, not necessarily a good coin, it is different with bitcoin where it only has a small supply, and because it has trust, the price is even higher, even though ethereum actually has more features than bitcoin |
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When the market goes down like this is the point to test who is got patient enough to stand the sight of investment going down, I think this month is not very friendly with crypto, some people are still very optimistic about the market not in bear season, alts are taking a blow right now, today it seems the marker is coming back slowly, maybe the crypto experts can tell us if we are in a bull trap or just the market reacting to the new covid variant news.
I don’t really think that this is something that has to do with the new covid19 variant. Easier to say that it can be anything, so does that also mean that the other times that the market has gone down as well around last month, that it was also because of the same thing? Because the new variants of covid19 wasn’t announced this month, it was announced some few months back, and maybe it might have affected the market then, but not now. I just feel that this is the regular up and down movement or price fluctuation. It’s just with time and the market will gather itself back and go up again. At least we have gotten back to $50,000 now as I write. So, with time it will still increase. Seeing that there is a new variant of covid 19 which now doesn't seem to cause panic like before, so I don't think it has any impact on current market conditions, even so we need to analyze it more deeply whether this is just a fluctuation or not If you look at this latest variant, it has properties that are easy to spread or transmit, but it is not as dangerous as before. I don't think it will affect the cryptocurrency market too much, it's just that the market is bleeding right now and this is triggered by negative news from America, and of course China also does it, especially bitcoin has reached a new ath, of course it needs correction |
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for long-term investment, I think later you can buy a house like your dream, but when that happens, no one knows, maybe it can happen sooner or later, which is definitely sometimes beyond our expectations. But if the house you want is a luxury house, I think it will take more time, because the analysis must be logical
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as they say they work on cryptocurrencies even though they don't invest in it, from their work they certainly get a gift in the form of altcoins, but they may be sold immediately and leave nothing. If that's the case, I think they certainly have many types of altcoins, and are not ready to be used as fiat money, maybe because they haven't been listed on the exchange.
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I'm currently trading meme coins, and finally I'm holding, this time I'm holding a shiba inu which is on a hard decline. but the capital I use is only a little, and it's just for fun, because I think trading on meme coins is very risky, so because I'm interested, I use a little capital to trade. and currently many communities are frustrated, if I look at the facebook group, but I judge many of them are still newbies
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I started trading with $200 and within a month I made $450 including my capital. Since then I suffered a loss and have recovered but need trading knowledge that will take me to the next level with high profits.
You started on a winning note but obviously got carried away by your little success and that led to your loss. This is often the mistake most traders make. They forget that it's never counted as profit until it's comfortably sitting in one's personal wallet or bank account. Anyway, you did well. I don't think you need all the new suggestions you're seeking here other than work on your emotion. Learn how to control your emotions while trading and don't be too excited when you're winning or scared while experiencing loses. Go back to the drawing board and find out what worked for you that enabled you make the wins you had the first time. Fine tune it, and grow from there. Apart from the capital to fund an account, the second important thing is control of one's emotion in relation to MM – Money Management. it is true as you said, here we need experience and increase experience in trading, if you are just trading then you have not gained much experience. from that experience of course we will face problems and must be able to overcome them, or we get frustrated and lose a lot of money. no pro trader is formed instantly |
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Most of what happens to newbies is why they lose big because they prioritize emotionality, so it's not called trading but gambling. without good knowledge, newbies are always unrealistic about the current market, and after floating minus, they are reluctant to cut losses, because they think the price will definitely recover soon, and eventually panic sell and lose a lot of money
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Of course we should expect it anytime soon, The crypto-market has been very bullish for a long period of time Bitcoin and many other altcoins made a new all time high Everytime we are expecting a bear market I change almost all my funds to stable coins to a avoid lost.
it already happened when the bitcoin price dropped from $64k to 30k, but the bitcoin price could recover quickly and could reach a new slightly higher ATH. I mean, maybe it's not the right time for a market crash like 2018 because actually bitcoin hasn't hit its high yet. in other words, price increases can still occur before the market completely collapses like 2018. The possibility for the market to crash is always there since its high volatile. There's no way the coins would only turn up consistently, it will also move downward or sideways. Thus expect bearish season to happen in the future but its not a situation to be afraid of because its also an opportunity to accumulate. History might repeat itself so its possible to reach an all time high before this year end then a bearish season will take place early next year. Nevertheless it is still uncertain and no one knows what lies ahead. we can only assume, but price volatility certainly exists. Therefore, after the market reaches its peak, there will be a correction or even a trend reversal, so that's what you have to watch out for, especially for traders. Don't force the market according to our thoughts, but we must want to understand where the market wants to go |
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With the way crypto world is going now and everything is techy futuristic what advice would you give your children when growing up?
Gaming as we know it can now give you monthly payments and as a parent would you allow your kids to get into this just for the money making? To be honest kids are more good at gaming
I am not married and have children but if I have kids and they want to play then I will direct them to only choose games that make money. Game play to earn this time is a great thing and it makes people who play the game won't waste their time. There are times when we need to direct children to play games for fun and there are times when we also need to direct them to play games that can make money, What is clear is that every parent must make the best decision for their child but also we must be able to manage their time so that they have the discipline to understand their own time. many games nowadays make money and if we can direct it it will be more useful. on the other hand without leaving their main task, namely learning, because after all for me education is important |
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From this part of the forum, what I feel is from having no capital at all, then getting prizes and having capital to invest and trade, even though trading is still in the learning stage, but from investment I can already feel the benefits, so that it can meet the needs of an increasingly expensive and feel self-sufficient after getting to know crypto
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Old rich people usually againts bitcoin i don't know why, maybe it's because the old model of gaining returns of their era is so much different with this digital and agile era right now.
They will feel something wrong when the price of a crypto gaining it's growth really fast but they are forgot how fast the transmision between informations spreading compared to the old era. So i think cryptocurrency is the representation of how fast this world evolving and it will be faster in the future, only people who can adapt the agility will survive.
old people, usually old people. With the age that is no longer young, most of them have limitations in thinking, including the development of the times. they only rely on experience while their minds are still productive, on the other hand of course they have reduced their aspirations to collect more wealth, especially with a risky investment, of course this is what makes them dislike it |
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the first thing we do before buying bitcoin is our purpose in buying it, whether for investment or trading. if it's for investment, then a good time to buy is when we have more money that doesn't interfere with our needs, and whenever it's a good time, and it would be even better if we buy it when there is a correction like today. it's different if we aim to trade, of course buying bitcoin must be done with careful analysis first
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