Cryptocurrency for Trading

[Rengga Jati]

First, let's first equate the meaning of passive income.

Passive income is money earned on an investment, or work completed in the past, that continues to make money without any additional effort.

taken from Passive Income Vs. Active Income (A Beginner’s Guide)

If the crypto is used for trading, doesn't that mean that we still have some effort to get involved in it? And that can't be said as passive income, can it? This is more about active income.
On the other hand, if we make cryptocurrency assets for long-term investment, maybe we can consider it as passive income. because we only put our funds and we may not need to try too much to get involved. just monitor it and see how our portfolio is.

So, how about this?

I also believe that interest in cryptocurrencies has grown significantly during the pandemic. because of that, many new people have entered this crypto world. Like the people around me, some of them have started learning to trade and investing in basics first. This is good. but it also needs attention for beginners to be careful when they want to trade in cryptocurrency.

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[#dhabitamartha]

Cryptocurrency is very strong and increasingly expensive because here the enthusiasts and buyers of cryptocurrency are more and more widespread in various countries and this gives a boost to the value of cryptocurrency to be better known and many rich people invest in cryptocurrency making prices more expensive and tend to be stable compared to this moving stock. which makes us believe in safe investment

[pieppiep]

The lockdown has helped with the growth of cryptomarket in large scale. This too is experienced in my home state capital. Compared to the past the lockdown months have got a massive increase in the usage of cryptocurrencies on trading. It is true to see most of the tech people around the age of 25 getting into cryptocurrency usage. Particularly most are into trading to make some passive earning as tech giants have come up with big pay cut.

Another important reason for the same is the stocks which weren't that supportive to make some passive income. During the lockdown even the stocks crashed, only the cryptocurrency market stood strong. With the lockdown the city has topped third position in terms of cryptocurrency users and trading volume. Probably this widespread could've happened in the global market too.

Source : timesofindia

The best thing to do is trade to cryptocurrency that have potential to increase and worth to wait and be wise on taking risk on trading analyse the movement of the price and earn money.

When you trade I think the risk will always be there and you have to be brave enough to face that risk because that's the only way you can get profit from trading.

[AicecreaME]

I don't see much sense in what you say. First of all, cryptos give you passive income if they go up in price and you sell.

Passive income often refers to the dividends you receive from a stock or the rental income you receive from your tenants. In a way, you can say that bitcoin (or stocks that don't pay dividens) give you passive income if they give you capital gains.

And then you say in the second paragraph that stocks weren't supportive to make passive income due to the Coronavirus crisis because they crashed but cryptos crashed as well. So, unless you explain yourself better, what you say no makes sense to me.

I agree. Passive income means you're gaining profits without doing anything at all. Trading in cryptocurrency should be called Active income, especially day trading. Also, engaging in trading doesn't mean you're going to earn automatically, it requires a lot of efforts in analyzing stuff like market charts, price movements and so on which is called Traditional analysis if I'm not mistaken.