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To be honest, you shouldn’t have mentioned your friend’s name, that was unnecessary OP. Otherwise, you have not screwed up when you introduced Bitcoin to him, you have made the right decision. Plus, Investment is clearly risky especially when have no knowledge and experience in this field. In addition to that, investing a large amount in BTC does not guarantee huge returns. As you see the market is dramatically unstable and unprofitable specifically in short term, and unfortunately BTC’s price has not increased significantly for a long time. Regarding your friend, he shouldn’t invest more than he can afford to lose. And from my perspective, it is better to find another source of income and invest the profit in BTC and spend your salary on necessary needs.
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To begin with, you need to acquire a knowledge of crypto trading until you become competent to begin. Don’t forget that education comes always first without it you will not be able to have a successful career in trading. In fact, there is actually plenty of ways to learn the basics of this field, you can start with reading some effective books , then you should learn the technical analyses. I highly encourage you to watch some tuto ( beginners guide ) on Youtube but be aware of some crypto influencers who post fake information and analyses for a purpose. In addition to that, you should prepare different strategies and plan and it is preferable and safe to begin with a limited capital to keep away from risks. Best of luck.
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January, of course, everyone agrees that the bull run will happen soon and we will leave the bear market soon, unfortunately since the beginning of February the price has continued to decline and makes us have to be patient, in my opinion the best thing to profit in cryptocurrencies even in a bear market is to always be patient to hold, don't be easy panic to sell because it will make us regret it.
Exactly, selling during this period is unpreferable and risky to be honest and it is unexpected to see a bear run in next weeks. In my opinion, this volatility will continue and the price will not hit $30K until next month. If you have an acceptable amount of stable coin, it would be definitely fruitful to purchase Bitcoin within this month. At the same time, you must have a Plan B and maybe C to avoid the risk of loss for the reason that this market is unpredictable and the sudden events always occurs. Hopefully, the whole market will pump significantly in next few months despite it is not that easy to be achieved. Everything is dependent to whale’s plans and decisions, they are literally capable to pump and dump the market wherever they want to. |
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To be honest, depositing in banks is perilous and unsafe during this rough period due to the widespread inflation in global economic and regrettably it is predictable to be increased in the near future. From my perspective, investing in BTC is more profitable than in Gold but in long term and having multiple strategies is very important to guarantee a fixed returns. In fact, Bitcoin provides financial freedom but it takes time to be achieved and needs discipline and good decisions making. There are multiple sources of money, if you have knowledge and skills, you will easily accomplish goals and reach financial stability.
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There is no guarantee of anything in this life but if we stay on that fact nobody will achieve anything, we won't have cars running with fuel and plane flying over from one place to another through air, I don't want any of my children to ever believe that something is impossible, we gotta keep trying, if you don't try, wait till you are been tasked for not trying at all, you will have a ruined life and regrets all the days of your life.
Face the battle and see how it ends, if you run from your battle no one else will fight them for you, we are created to fight for everything, it's better to fight and lose than running away from fight, the simple answer is you will never know.
I've lost money in crypto, my wallet was compromised and my assets was stolen, my fault, still I don't give up, here I am today, doing all the things I can't even imagine years ago, I thanked myself several times for not giving up trying.
Nothing in life is promised; we simply need to strive harder for the purpose to secure our daily food and survival. Our family needs us, there are essential tasks for us to take care of, and I'm willing to do anything in order to come out financially balanced. Crypto is one of the simplest ways to make money, but only if the necessary procedures are followed. Losing is a common occurrence in the market; we must lose in order to either learn from our mistakes and correct them, or remain stationary in one position; the choice is ours. This life is all about adopting dramatic methods to become wealthy. Everyone has goals they want to achieve, and we ought to continuously strive to accomplish them. Indeed, life is unpredictable and unfortunately we have no idea what the future will bring. However, we must be prepared for all scenarios and unexpected situations and save money as much as we can instead of spending them on unnecessary goods and items , regrettably that’s what the majority of people are doing. They live the present without thinking about future, they ended up complaining when they face sudden troubles and blaming themselves for the bad decisions they have taken. In fact, The crypto is certainly a good source of income but you must have the knowledge , gain experience and patience without these 3 keys , you will not be able to have a fixed profit. |
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From my perspective, the possibility of profit during this rough period is unguaranteed despite you have an acceptable value of capital in Bitcoin However, If I was in your position, I would keep them in BTC , hold it until a bull run be achieved and once the price goes up remarkably, I would convert 40% of the capital in a stable coin and then wait for a bear run to be occurred. At that moment, I would convert all amount of stable in BTC and try again. In conclusion, sell when it is on green and purchase when it is on red but you must have a futuristic vision to except the sudden events and conditions.
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Simply, bull market is where the charts are rising and bear market is where the charts are decreasing. Let simplify it more for you: buy on red and sell on green. To be honest, trading is not complicated unlike what peopel say , you should keep it simple and take it step by step. Plus, there is a plenty of courses , lessons and books on the internet, make some researches and pick the most useful and effective ones in case you’re interested in trading. Moreover, If you want to have a successful career in this field. To begin with, feed your mind with knowledge. Furthermore, set simple strategies plus plans, then start with a limited capital. Remember that the more experienced you are and disciplined, the safest and easiest to achieve success.
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Well, I highly doubt if Bitcoin will become a stable digital currency. And in my opinion, the volatility is what differentiates BTC on FIAT ( like, Euro, USD…) , it is actually the main characteristic of Bitcoin without it the number of Bitcoiners would be significantly decreased and the coin would be totally worthless and similar to FIAT. In addition to that, as you see the demand in unstable currencies are higher than stable ones simply because they are profitable. In fact, we are just able to reduce the volatility of Bitcoin although it is quite tough to be achieved due to the market is basically controlled by whales.
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Prediction 1: $29,869.26
bech32 address: bc1qqud6s8q9pdpwcern0ekuf53pvffc5jtm9v6070
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That’s great, you have mentioned some useful points. However, you forgot to indicate the importance of knowledge. It is really necessary to learn the basics and elements of crypto trading at the beginning of your career. I encourage newbies to start with reading some effective books, they provide a useful and general introduction of crypto trading and some important tools. Furthermore, it is essential to have a high self control while trading otherwise they will end making some wrong and hasty decisions especially in tough moments such as sudden bear run or crush. And of course it is preferable to start with a low funds or capital to steer clear of high risk.
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As we know that bitcoin has a decentralized concept so that all prices that occur are due to situations that occur in the demand or selling market, the higher the demand the higher the price, but it is commonplace that bitcoin is used by people to earn income, namely daily trading, they those who have the ability and large capital will find it easy to profit because bitcoin price fluctuations are very high.
That was a nice explanation. In addition to that, the demand decreases when the price goes up and the opposite the true. In fact, the market is always affected by the news mostly in a negative way. Moreover, the capitalists ( the ones who own large amount of BTC ) have the capability to control your price. They would not let Bitcoin’s value rise outstandingly. When the demand is high, the whales move their funds to decrease the price, it is whole manipulation and game created by them. However, we must deal with this situation due to we don’t have the ability to change anything in market. |
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Before asking for investment platform that will give you $50 daily you must first mention the amount you want to invest at first. Because you can't invest $20 and expect to receive $50 daily and besides I don't think there's any place to give you such amount all less you invested about $10k maybe with the little changes in market you may decides to do DCA or fully involved yourself with scalping. Please do not desperately go ahead investing in a platform that would result to scam at last because I know too well that newbies are too impatient.
Any investment won’t never guarantee fixed profits, it’s either you win some or lose all your capital. But expecting a profit daily regardless of the amount, I don’t think it’s possible through investing. However, if you do DCA at a low price and continue to hold them for years, might this strategy will give you one time huge profits, but it won’t never happen in a daily basis. From my perspective , Investing in Bitcoin could offer high profit but only in middle and long term depending on your capital. In fact, short term investment is fruitless for the reason that market is unstable and BTC price goes up and down but with a low value. In my opinion, the only way to guarantee a fixed profit in short period is to invest large money. And regarding DCA, I totally agree, this safe method provides you a fixed returns in long term. However, you should be patient to be honest and have a futuristic vision. The continuity, patience and discipline are the keys of a successful investment. |
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There is no such thing as a time travel machine, it's just a concept. Many people think that many things can be done with a time travel machine but in reality it never exists. I don't believe in time travel.We can learn from the past since the price of Bitcoin was very low in the past. At that time many people may have bought and kept Bitcoins while others sold them.Can't expect to buy bitcoin at such a low price these days. There's nothing to be confused about what happened in the past. Bitcoin price is always unpredictable. So we have nothing to be disappointed, because everything works according to a system.
Indeed. In addition to that, we must accept the reality, deal with it and adopt ourselves in every new condition. It is certain that Bitcoin is extremely high comparing to old prices back to 2009, 2010..etc but we should create solutions and opportunities to gain money instead of complaining and blaming ourselves for the decisions we have not taken. Unfortunately, there is a plenty of new crypto users are looking for an easy way to earn large profit without knowledge and making any efforts, that’s impossible to happen, we should be realistic sometimes and working hard to achieve success. |
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In my opinion, you shouldn’t have advised him to use Binance exchange due to it is a centralized exchange, they basically require KYC verification and the assets are not controlled by users. For me, I would rather use decentralized exchange than CEX despite they are not easy to use and provide only basic features unlike CEX.
The more you have funds, the more risky to deposit them on Decentralized exchange.
And to be honest, you have not made any mistake OP, there is no need to blame yourself. The risk always existing in trading, your friend will definitely face some troubles in the beginning, that’s normal and once he gains experience, the risk of loss money will decrease.
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2024 there will be a halving so the hope to see the price skyrocket is huge, many are hoping to reach at least $100k but the price is $100k of course it depends if 2023 can reach at least $60k or be as close to ATH as ever, don't expect the $100k price to happen in 1 or 2 months if the current price is still $27k.
In fact, no one can predict exactly when the price of Bitcoin will reach in which place. And In my think in 2023 Bitcoin can't beat the range of 60k and also think that on 2024 bitcoin will reach at a good place for the halving or bull trend ,but I won't think it can be confirmed that it will touch 100k on 2024k but together 2024 and 2025 in the end of 2025 we can see that bitcoin may touch a new all time high and also many giant tech firm and analysis says that . I totally agree with what you said, Bitcoin is unprofitable and probably only whales are able to speculate accurate prices due to they own huge amount of a certain digital coins, that means the whole market is controlled by them. In my opinion, Bitcoin will never reach ATH during the year, it is unrealistic to be achieved to be honest but probably the price will rise significantly in next year ( after the halving) , how much it will increase ? We don’t know. Moreover, it is better to invest more than you can afford to lose in this period due to the price is affordable , and I highly doubt if a solid bull run will be occurred in the next few months. |
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Yes we should invest the amount of money we can afford to lose. That is, the amount of money you invest will be deducted from your total money. I don't see any need to invest so much in the beginning. There is no need to take loans to invest, to sell mother's gold ornaments, to hire with parents' pension money.
Maybe you say you don't have money to invest so you take a loan Investing by taking a loan can never be a good decision. As I said earlier, invest the amount you can afford to lose. There is no question of borrowing in my words. If you don't have money, try to earn money as well as get ideas about investing and when you have enough money to invest, hire on a limited basis.
Well, this issue is widespread in a lot of investors specifically the greedy and beginners, they literally take high unnecessary risks for un guaranteed returns, that’s why they end struggling with debts and psychological problems. From my perspective, it is better to find multiple sources of income instead of taking loans , selling some precious goods and hard commodities. In fact, If you want to gain money, simply work hard and be productive, nothing comes easy. In addition to that, it is preferable to educate yourself before beginning in this field. Having only huge capital will not guarantee a large profit, knowledge and experience are necessary. |
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In my opinion, Bitcoin trading is perilous and unprofitable in short term due to the the continuous volatility in the market. Moreover , the price have not increased remarkably for more than 3 weeks, it would be better if you focus only on long term Bitcoin trading. In addition to that, if your budget is low and you have no knowledge in crypto field, there is no need to quit your main job and switch it with un guaranteed source of income. Take your time by learning the basics of crypto trading and analyzing the marketplace, once you feel you are capable to begin, build different strategies preferably set a strategy for each condition and then deposit a low amount and start.
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To be honest, investing in Bitcoin provides valuable earnings unlike depositing your income on a bank. In fact, I have noticed that you invested low amounts in BTC due to BDT is extremely weak. However, it is a wise choice for you to find more sources of money on the internet especially if you have available time and I highly advise you OP to start doing freelance jobs depending on your skills, talent and knowledge, that would definitely help you to increase your profit, there is a plenty of Freelance platforms, try to pick the ones with crypto payment and active or you can try your luck on this forum. To begin with, build a professional portfolio , then post your services and put affordable prices. Best of luck.
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I'm sorry for opening two threads. I saw this sub-forum after. I'm just in a lot of trouble here. I guess I can't attach photos here so I'll try to summarize what their customer service said. The site is Verirax.com. First they said I can't use the funds I earned in the mining pool (153,364 USDT) to pay the capital gains tax, which is 40% (62545 USDT). They said upon completion of paying this tax, they will give me an ETH award double the tax (125091 USDT). And I have only 3 days to complete then there will be a 1% fee. If it's after 5 days my account will be frozen and the tax will increase by another 20%.
First of all, by reading your first post and the title of the thread "Trust Wallet", i thought that you are facing any issue with the Trust wallet and was surprised to read that how can trust wallet ask for taxes etc but now i know its not related to trust wallet but its about the site Verirax. I haven't have any information about this site but do you know that its a big scam in crypto world where the site will show you that you have a lot of balance in the site through mining or whatever but when you want to withdraw you have to deposit some money (in the form of taxes or whatever). When you deposit, the site will still never let you withdraw and may scam you. Better stay away from these sites and do not deposit your hard earned money on these sites. You will only lose your money. I have just had the same thought to be honest, I was thinking he faced some troubles with Trust wallet then realized he meant Verirax. From my perspective, it is preferable to avoid unknown and unranked wallets and if your capital is large, it would be better if you stay away of CEX platforms specifically the ones who require KYC verification and use a decentralized exchange such as uniswap, pancakeswap , sushiswap or hardware wallet like, Trezor and Ledger, you have a plenty of save options, it is up to you to decide. Moreover, I advise OP the make some researches before making any decision especially when it comes to depositing a huge amount on crypto wallet. |
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