It is needful to say that before the completion of a magnificent building, it starts from the foundation, therefore, to excel as a crypto enthusiast you must start from the foundation, which is through the acquisition of knowledge.
I will not deny the fact that learning is a continuous process, but whoever is coming newly into crypto, should try as much as possible to learn first the rudiments before venturing into any aspect of crypo in order to avoid making costly mistakes.
What you already know cannot be taken away from you...
So, start from the foundation today and get the best from the crypto space.
Knowledge is the key in crypto world to succeed in this industry. In trading perhaps, you need experience first to know what kind of strategy works for you so you can be profitable. There is also an advantage when you know that there is something going on in a coin like good updates. Listing in a big exchange is a big push in the price so if you have knowledge of it ahead of others then it would be an advantage for you to get a position and when the announcement comes, the price would fly. Learning cryptocurrency and doing research before investing in a coin would reduce the risk being involved in scammy projects and for the investors to lose money. |
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I think it is not patience to wait needed in cryptocurrency trading, it is more on knowledge and understanding with quick moves and concentration to be watchful every second of the day, because in trading it is important to be wide awake 24/7 becauae the market is so volatile and easily fluctuates in quick time, but patience to spend more time is quite important to make you succeed.
One of the recipes for success in trading is patience. Those who panic buy or sell do not have patience that's why they incur losses and sometimes they have profits but it is because they are lucky and those who wait for sometime and buy or sell when they think its the right time most probably will have gains and will have consistent profits because they are not controlled by their emotions but instead they are level headed when they are trading so they know how to follow their trading plan and strategy. |
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According to the latest survey that more than 95% of bitcoin users are from developed countries such as Japan, USA, South Korea, Europe and so on, while only 5% are from developing countries, this is an interesting fact that developed countries give freedom to their citizens to use bitcoin while developing countries instead banned of bitcoin.
I think the reason for this is that people in developing countries are afraid of risk and behind in terms of technology while those who are in developed countries have advance technology and maybe most of them can afford to be investing in cryptocurrencies while those in developing countries struggle to earn and they may even don't have time to learn or invest in new things they know nothing about. However, in some developing countries, many people are getting interested in cryptocurrencies because of the income and investing opportunity it offers which is a big help for their day to day lives. |
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On 2017 I spent 2 - 3 times a day to check the price of bitcoin on the market and yes that was a stressful especially when the price slump. Now I only look the market 3 times a week, but if the market begins to crash again then I stop looking at the market for days until everything recovers because that can brought a feel of anxious.  This year is completely a cruel experience for bitcoin users and investors. I thought I was going back to my normal routine like checking crypto 3x a day because of the effect of Consensus but it did not so I avoid looking at it for a while until now because it is giving me too much stress. This is the way to go when you don't want to have stress. For those trading daily, they do not have a choice but to look at the price always because it has a big effect on how they are going to trade but if you are an investor then better log out from exchange or sites related to bitcoin for some time to avoid stress. Some people even uninstall their apps related to cryptocurrency like blockfolio because they are frustrated when they are looking the bloody prices. Do what you love to cope with stress like playing sports perhaps or watch a movie and let your mind be out of crypto thoughts once in a while. Go out and maybe travel with your family. |
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If you're really into a coin, then always buy when the price is down. Usually if you watch it enough, you can pick up on little patterns on decrease and increase. You'll then buy when it's low and sell when it's high again. Then, just repeat.. You'll increase your position several times over if you do it right.
Unfortunately, many traders are doing the opposite. They bought when it was hype and now they are bag holders of it waiting for the time that the coin would rise again. They may even lose half the value of it but still holding strong waiting for the time it would be hype again. If they would have sold it and then buy again when it has a cheaper price then they would be able to maybe recover from their losses. TRX may just be a scam coin for some but still, there are still fluctuations from its price that you can still take advantage from. |
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None of the altcoins has the real market adoptation yet. They have potential but none has daily active usage. So Bitcoin still has the lead for me.
I think the reason why most altcoins haven't gotten that much adoption in real life projections is because their platforms are still in the testing alpha or beta stages which are yet to be deployed for full scale operations. Apart from the trading and investment blockchain based projects, other projects tackling real-world problems in areas like logistics, food processing, decentralised Cloud storage and AI based systems, efficient energy/green-energy distribution projects, require a huge amount of time to scale before they can truly make waves. And this goes way beyond proof of concept alone. These projects are a big help for businesses or even for individuals to have more efficient and effective transactions compared to the technology that we are using nowadays which is centralized. We have yet to see how these projects and how would the altcoins change how the businesses would be able to solve the problems of their processes. It might take some time for these projects to penetrate the market and convince the businesses to adopt it but then we can see big companies already adopting blockchain technology so it would be the norm later on and then the altcoins would not compete with each other as each of them has different use cases. |
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Personally, I only participate in signing campaigns and social media campaigns. I understand that the translations are quite profitable and I do not think I will hesitate to experience this work.
I am participating in signature and bounty campaign too. I want to do translation campaign but there are already so many translators in our language and I do not even have a portfolio yet and many of them have experience already so it is hard to compete with them. Besides that, many ICO choose those who have experience already so I just choose bounties that I have a chance of getting in. One can participate in bounties as much as he can but make sure that you can manage your time very well and it is hard to find good and legit campaigns nowadays. |
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Long term trading is basically another name of investing. It is stress free unlike regular trading. In long term investing, choosing right coins is essential just like investing in stock. Usually we pick stocks with strong fundamental like GOOG, AMZN, V, etc. In cryptocurrency, it is wise to pick coins at least in the top 25 based on cmc.
Although there are ICOs that are worth investing in and may have more profit potential than those already listed in the market, there is still uncertainty because the team has yet to prove itself and if they would be able to push through with the project and follow the roadmap. At least when the coin is already listed in the market and it has a high rank, most probably it has been existing for sometime already and you can see from its price history in what price it is favorable to invest. Long term trading or investing focus more on fundamental analysis than technical analysis but you still have to take into account on what price you will buy it to maximize your profits. |
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I think we can combine the two, I've done both for more than a year and the result I'm not disturbed in the work and earn earn from crypto, of course the main key is to set a good time, for example a special day for real job and night or holiday for crypto .
Good for you because you are earning from both income opportunity. There are advantages and disadvantages for earning in both but if you are determined to earn and willing to sacrifice some time then you will be able to have an extra income that others are not even willing to try. The key to this is time management so that both opportunity would not be compromise. I have read a thread about someone that is too focus on crypto that he almost lost his job paying good amount of money.Crypto provides many opportunities but because of income uncertainty, you should have another source of income that is fixed. |
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Bitcoin investment is more risky than bank investment because in bitcoin, there is no insurance whereas in bank investment, there is an insurance and there is still a possibility that when there is a mistake in sending money, it can still be reverse but when it comes to bitcoin, there will be no reversal as soon as the transaction is confirmed in the blockchain. The advantage of bitcoin is its value is fluctuating that's why there is a possibility you will be able to have profits in a short of period of time compared to just storing money in the bank wherein you will have an interest that cannot even beat inflation.
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Learn TA and try day trading or buy some masternode.
The safe way would be to buy masternode since you let your computer do the work for you but then you need to have bigger capital too so that if possible you can set up several masternodes. You can try POS coins too since it is cheaper but you will earn lower amount of income so masternodes would be the best option for it. Another way would be trading but you need experience for it because most likely if you are just starting, you will lose more than profit but through experience, you will figure out a way to be a profitable trader but if you are in a hurry to earn that amount then trading is not the ideal way if you are a newbie to it because you will be susceptible to being an emotional trader. |
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if I will invest in both of them. education and bitcoin. education for the future in the real world. bitcoin for sideline. bitcoin too unsafe to be used as a handle of life because it can at any time disappear. but maybe someday bitcoin will have its regulation. and become something that can last forever.
Investment in both would be a good option but if I would choose one over the other then investment in education would be prioritize over the other. I believe some people in here invest in bitcoin through joining in campaigns so that they can finance their education which I think is a good option. It would depend on what country are you from though on how will you choose between the two. In first world countries, they may choose to invest in bitcoin instead of education especially when going to a college/university because it is expensive while in developing countries, the school fees is not that expensive compared to developed countries but still there are people having a hard time going to school that's why one of the key to finance it is through investment in bitcoin. |
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Inorder to be profitable we have to choose the right ICO. There are many scam ICO, which we cannot able to make profit because they failed to list in the exchanges and process of developing what they mentioned in the roadmap and this makes to decrease the price.
It is hard to choose the right ICO nowadays because of its proliferation with just a short period of time. You have to take into account the vision and mission of the team, the team behind and the possible adoption of it so that it would be valuable. An ICO is being launch every day and we can even see that in the announcement page but we don't know yet if those ICOs has the true intention of improving the lives of the people or just taking advantage of the investor so we have to do a thorough research about it. |
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