How possible is it to make a living trading cryptocurrencies alone?

[stiffbud]

Can someone make it trading only altcoins?

Of course you can, I also trade on altcoin, I don't have Bitcoin, because the current price of bitcoin is still expensive, and in altcoin everything is still cheap, so I decided to altcoin, and I'm grateful to be profitable 

The reward is pretty less as compared to the risk that you are taking and if you don't have a clue about trading and are doing a fresh start with trading then I wouldn't advice you to do so, I have seen a lot of people getting REKT while trading in just a single bad trade and it took them months to build that amount of funds that were lost in a single trade due to the unpredictable market. First you should learn trading cryptocurrencies and then practice the strategies told in a practice account and when you feel confident enough to conquer the market, you should finally start with a small amount of capital and try to make it big instead of starting with loads of money initially.

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[South Park]

Can someone make it trading only altcoins?

It depends on basically three factors, first of all are you able to get profits from the markets in a consistent way even when they are going down? For 90% of the traders the answer to this is no, and the next questions are what it is the rate of growth of your capital? And what is the size of your capital compare to your expenses? If you need to obtain 100% profits each year to sustain your lifestyle then forget about it, you are never going to make that amount of money and even if you do it for a few years you will take too much risks in the process and lose everything, in my opinion the maximum rate of growth you could get away with is 30%, I know these numbers may seem low to some people as the market of altcoins can move very abruptly but it is naive to think you can always win in this market.

[Oyarebu]

Can someone make it trading only altcoins?

Follow my lead, you need lots of patience and to avoid losses when trading, just buy low and sell high, all that matters here is timing, orders can get successful in seconds, minutes, hours, days or even months, that's why you need patience

Not only buying low and sell high, learn to study the cryptocurrency market and take the right step in order not to be a victim of dump, as many thousands have been. Many a-times we buy when the price hit the peak, always be right all time to buy from the buy zone than buy from the selling zones. Many have been left with shits because of this.  

[lumeire]

Can someone make it trading only altcoins?

Follow my lead, you need lots of patience and to avoid losses when trading, just buy low and sell high, all that matters here is timing, orders can get successful in seconds, minutes, hours, days or even months, that's why you need patience

Not only buying low and sell high, learn to study the cryptocurrency market and take the right step in order not to be a victim of dump, as many thousands have been. Many a-times we buy when the price hit the peak, always be right all time to buy from the buy zone than buy from the selling zones. Many have been left with shits because of this.  

After a few successful trades people start to think that they are a great trader and can make any coin a gem if they enter the market and then they face the hard truth when they loose what they made in trading. It is always advised to learn along with doing practice, if the trader will forget to do any of these things then the consequences won't be good and as you said he will face the same fate as the thousands of people already did.
Trading isn't everyone's cup of tea and everyone should understand their strength and weaknesses and then decide on what earning path they should take in the future. There are many ways to earn money online and trading is just one of those more than 100 methods.

[MonsterV]

altcoin trading need someone that having big patient on his life, because its not like binary option trading that you could get profit or lose within a day, altcoin trading may take sometime about a week or even a month before they will get profit to wait the altcoin pump, if you are someone that doesn't have big patients on your life and want to make short term profit, would be good to trade on Binary options trading, short term profit always have big risky.

[iv4n]

It's possible to make a living with trading crypto, but are you capable for that or not is the answer you need to look inside yourself. Do you have enough capital to start, enough skills to know what you need to do and how to do it, patience to wait good moments? And sooner or later you will experience hard times, you need to know how to survive that.
All in all everything is possible, but is it possible for you nobody can't say, you need to try it and you will have your answer.

[Dpat]

You can not earn your whole living only by trading on the cryptocurrency. But, this is sure that if you are investing in certain top coin and stick to it for the 5 years you can earn a huge amount which can later make your living easy and maybe you don't have to employ in anywhere. So, choose the crypto coin wisely for your investment and wait for the good time.

[B.wealth]

Yes, you can earn what can sustain you for a whole month within 24hrs of trading, is very possible, trading can give u massive income in less than 24hours, it all depends on how good you are at what you do.

[stiffbud]

Yes, you can earn what can sustain you for a whole month within 24hrs of trading, is very possible, trading can give u massive income in less than 24hours, it all depends on how good you are at what you do.

Don't you think that this isn't doable for most of the people out there, how can you earn 1 month of income in less than 24 hours of trading, for this you have to be either a legend in trading or you would be having some kind of insider information on the project and announcements or with the exchange itself.
Earning only a modest amount of money is possible from trading on a daily basis but those extravagant trades that gives you 10x or more happen only once in a long period of time.

[wozzek23]

Can someone make it trading only altcoins?

yes actually its possible but you need to learn how to read technical  analysis  before doing a trade I know a persons doing that and earn around  10-50% in daily trades h. But that's not always accurate that's why its important to have stop lost if you don't want to lose large amount in trading.

If you really interested learning it watch many tutorials or attend   seminar to have ideas and learn how to do it.

Technical analysis, research, predication and quick decisions are important if someone is going for quite trades. People lend money on 10-15% interest for a month or even year, but in crypto currencies you could make that 15% in a day or even within minutes for a matter of fact. You should know the market inside out for that and keep an eye on the coins. And yes, stop loss is always there to save you from drowning all your investment. so be sure to make the right use of that feature before you go all in.

Moreover, by considering the volatility of crypto markets, I believe it is not at all good and safer for anyone to be completely believing in making a living out of cryptocurrency trading. It means, we should be having crypto trading as one of our part-time income stream and we must have multiple income streams so that we could manage regardless of, not consistently making profits from cryptocurrency trading.

[Mister.Satan]

Although I think with a bit of skill and luck, you can do it to trade cryptocurrency for a living but you shouldn't. A lot of pressure as each day you need to make stable earning from your trading in the unstable crypto with very volatile market from time to time.

[safem]

It is very much possible to make a living from cryptocurrency trading alone.A lot of people have made it immensely from cryptocurrency as a result of investing in various coins with good value.It is very important to be determined and focused if one desires to enjoy the benefits that are available in crypto.Although, there are challenges one is likely to enter as a result of deciding to trade with cryptocurrency. One just need to stay focused and press for the best.There are lots of ways one can benefit from cryptocurrency and make a living out of it.One may decide to be buying the coins and then trade or better still be involved in bounty campaigns which only requires some level commitment in promoting the project and then get token rewards for it.

[coinfinger]

There are many full time traders in cryptocurrency market and forex market. It is possible. However to become a full time trader is not easy, it costs you a lot of time, money, trying and non-stop learning. Because every trader start with the same position and nobody can win the market when he starts. Most of new traders will give up because it's too hard to win the market.

That’s so true. You stop earning when you stop learning so you should always strive to learn even of you are well established if you want to keep the hold of the market. Start slow and then gain pace as it Is all about consistency when you are trading in a market that is highly volatile and full or risks. Daily trading is not an easy task and not everyone is able to cope up with the ups and downs of the market.

Can someone make it trading only altcoins?

It’s possible to make a living just by trading stocks, isn’t it? Then how is this any different? I agree that the market is highly volatile, but remember if you can lose big, you can always win big. And if you play safe i.e. small trades and quick profits, you can still make a living. But for that, you need to understand the market careful and make near to or accurate predictions.

[South Park]

It's possible to make a living with trading crypto, but are you capable for that or not is the answer you need to look inside yourself. Do you have enough capital to start, enough skills to know what you need to do and how to do it, patience to wait good moments? And sooner or later you will experience hard times, you need to know how to survive that.
All in all everything is possible, but is it possible for you nobody can't say, you need to try it and you will have your answer.

Patience is probably going to be the most critical factor when it comes to try to trading and sustaining yourself with the activity, there are moments like the previous three months in which the market does not move at all and it is almost impossible to obtain profits in it, what are you going to do during that time? The wisest choice is to just hold still until things improve but can you do that as the bills begin to accumulate? What if after that period of inactivity you lose money? It is at those moments when most traders will take a dumb risk and end their careers prematurely.

[add1ct3dd]

Can someone make it trading only altcoins?

That's very much possible but you will have to be experienced and has a high capital for you to be able to start. Like you as a newbie, you need to gain experience first. It's not just you have heard that they can make money through trading altcoins and so you'll do as well.
It takes time to tango and you have to practice yourself doing it again and again until you become familiarize with the setting in trading. Many day traders are prone to losing than profiting.

One does not necessarily need high capital to start. I know people who started from 100$ and now trade cryptos worth more than a hundred thousand dollars. It’s all about making the right decisions at the right time and understanding the market inside out. I agree that many traders lose money instead of making profit out of the trade the reason being their impulsiveness to invest without any background check or technical analysis.

[bitcoinisbest]

Price which has moved so quickly is really good time for the traders and speculators as one would have made 1500$ easily on per btc if had bought couple of days back only. Due to high volatility and both way swings this is the time where traders book profits on upside and also on downside too as market bounces back and take a dip of couple of hundred dollars as well.

[bakasabo]

One does not necessarily need high capital to start. I know people who started from 100$ and now trade cryptos worth more than a hundred thousand dollars. It’s all about making the right decisions at the right time and understanding the market inside out. I agree that many traders lose money instead of making profit out of the trade the reason being their impulsiveness to invest without any background check or technical analysis.

Do you happen to know how long did it take them to reach from $100 to $+100,000 ? Hard to believe someone managed to multiply his invested in trading amount 1000 times. How they reach such an amount? Trading or simply holding ? I have a feeling, that it was just a pure luck. If you give them $100 today, they would not repeat their path of obtaining $+100,000.

[South Park]

One does not necessarily need high capital to start. I know people who started from 100$ and now trade cryptos worth more than a hundred thousand dollars. It’s all about making the right decisions at the right time and understanding the market inside out. I agree that many traders lose money instead of making profit out of the trade the reason being their impulsiveness to invest without any background check or technical analysis.

Do you happen to know how long did it take them to reach from $100 to $+100,000 ? Hard to believe someone managed to multiply his invested in trading amount 1000 times. How they reach such an amount? Trading or simply holding ? I have a feeling, that it was just a pure luck. If you give them $100 today, they would not repeat their path of obtaining $+100,000.

Agreed, most likely what happened is that someone invested in an ico and then out of pure luck they happened to select a coin that pumped hard and they got a lot of profits, this story is common enough to inspire people to do the same but 99% of the time they will not get the results they were expecting and unless those people can repeat that kind of success consistently then they relied on their luck and we know that sooner or later your luck will leave you and they will lose their capital no matter how big it got.

[helloinox]

Make a living trading cryptocurrency alone is nothing rare as you think. There a number of traders that have very large capital funds to make just a tiny profit from a few trades could net them enough to living for a month. You can do it by delicate more time, more success trade if your capital funds low.

[Nancyo]

Very possible, have been doing that for a while now and the pandemic helped me to also intestify and put in more effort, though most times you don't earn much but with determination you are very sure of something that will keep you going every month