Cryptocurrency for Trading

[AjithBtc]

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

[1714308151]

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[1714308151]

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[Poker Player]

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.

[adzino]

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

Passive income? You mean it helped people over there by holding bitcoin and then getting profits? Lol, no I don't think that happened. And when the price of stocks were dropping, the price of bitcoin and other crypto currencies went down too. It took more than few weeks for the price to recover. And I also don't think trading is a sort of "passive income". You have to be on watch 24/7 to make sure you don't miss out on anything. Make a mistake, and you lose everything.
I would never rely on crypto currencies as a form of earning passive "money". Unless you are planning to hold it for a long term, it is quite risky.

[cabron]

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.

He must have mean the casino projects that provides cryptocurrency passive income to investors. They are open to bankrollers and investors who put their money to be part of the house and there are also crypto casinos that released tokens and token holders receive passive income thru it.

Online casino spiked so much during this pandemic and its presumed that the regular players in the traditional casino are now into cryptocyrrency.

[AjithBtc]

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.

You'll get better understanding going through the source link. I mentioned the passive income to be the income apart from the regular day job. Not only through the price increase, but through trading one can make little earning out of the fluctuations.

Capital gains too can be considered as passive income, and I mentioned stocks weren't supportive to make passive income during the lockdown. This is just based on the market falling low, but with cryptocurrency the market falls and recovers fast than the stocks. This makes easy way for an earning than stocks.

[avikz]

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

I am not sure what you are trying to prove but here's my take on it!

Cryptocurrency can't provide you with income unless your are staking coins or actively trading it. Now when you are trading it, then you can't call it passive income however, it can be called passive income only if you are staking it. Yes, people are making big bucks from cryptocurrency trading obviously but that doesn't put the traditional stock market out of perspective.

Instead, when the stock market crashed, it has given an immense opportunity to enter the market. I personally have purchased a lot of shares of some FMCG companies which has shown strong future potential along with Yes Bank. I entered into Yes Bank at 8 during its bad times and now I am making around 100% profit. Cryptocurrency is definitely providing good opportunities to the people associated with it, but if you turn a blind eye from traditional markets, you are only loosing opportunities!

[20kevin20]

Well, the day stocks fell very hard was the same period of time when Bitcoin got dumped heavily so I wouldn't call it "standing strong". Stocks and crypto sometimes go in parallel, while other times move completely different. In time, crypto markets will likely choose something to follow between commodities and stocks.

For passive income.. well, it's a very big hit-or-miss situation unlike other ways of earning a passive income. Crypto volatility could turn your 3-months-straight profit into a 6-months overall loss, pushing you even farther than when you started. Those who've bought Bitcoin between $10k and $20k few years ago are still on a loss today, unless they've until now lowered the average price they paid for BTC.

[nelson4lov]

~Snipped
I would never rely on crypto currencies as a form of earning passive "money". Unless you are planning to hold it for a long term, it is quite risky.

Apparently, there's a couple of ways to earn passive income in crypto whether you do so with tokens or you opt to do it using stablecoins. Also,  there's a new trend right now that also allows users to earn passive income called "yield farming" thanks to DeFi platforms.  Despite the risks involved, I've seen most crypto users who have actually earned from them.  For instance, majority of the people who participated in the recent UNI airdrop by Uniswap have been involved with DeFi, one way or another.

Places to earn passive income in crypto:

1. Binance Savings, Crypto.com earn, Nexo and Blockfi: These are standard platforms that offers interests for holding cryptos (Bitcoin and altcoins) on their platforms.

2. DeFi - It has been the trend for the last couple of months. Users can participate actively via yield farming or liquidity mining.

3. Staking: This is self-explanatory, you get to earn some rewards for holding tokens for a period of time. Best suited for long term investors.

Compared to stocks, I think crypto has more incentive to offer.

[supine]

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.

You'll get better understanding going through the source link. I mentioned the passive income to be the income apart from the regular day job. Not only through the price increase, but through trading one can make little earning out of the fluctuations.

Capital gains too can be considered as passive income, and I mentioned stocks weren't supportive to make passive income during the lockdown. This is just based on the market falling low, but with cryptocurrency the market falls and recovers fast than the stocks. This makes easy way for an earning than stocks.

I don't really call your profit on trading as passive income because you worked for it you done something to attain it,
Unlike in other passive income where you would just sit and watch your money grow trading doesn't work that way.
We could consider crypto for passive income if you are staking it or investing it on a bankroll just like what other have mention but if you are working to make it grow then I don't really consider it as passive income.
I think you mistaken passive income as an extra income base on your definition.

[target]

~Snipped
I would never rely on crypto currencies as a form of earning passive "money". Unless you are planning to hold it for a long term, it is quite risky.

Apparently, there's a couple of ways to earn passive income in crypto whether you're you do so with tokens or you opt to do it using stablecoins. Also,  there's a new trend right now that also allows users to earn passive income called "yield farming" thanks to DeFi platforms.  Despite the risks involved, I've seen most crypto users who have actually earned from them.  For instance, majority of the people who participated in the recent UNI airdrop by Uniswap have been involved with DeFi, one way or another.

Places to earn passive income in crypto:

1. Binance Savings, Crypto.com earn, Nexo and Blockfi: These are standard platforms that offers interests for holding cryptos (Bitcoin and altcoins) on their platforms.
2. DeFi - It has been the trend for the last couple of months. Users can participate actively via yield farming or liquidity mining.
3. Staking: This is self-explanatory, you get to earn some rewards for holding tokens for a period of time. Best suited for long term investors.

Compared to stocks, I think crypto has more incentive to offer.

The article doesn't really say something about how the people from Chennai who signed up to CoinSwitch Kuber earned passive income, all they article said is that they register and that it.  I like to earn passive income just by registering, however that may seem.

But its true that yield farming and liquidity mining seem to have provided great profit since the start of Uniswap.

[fiulpro]

Old people are too scared to try things like this , things that seem too good to be true and at the same time is volatile , this would have worked but now we are in a state of recession and no one knows for how long the banks are going to be there.
At some places the bank might already be in a state where they Can't promise anything for the investors. This bitcoins and cryptocurrencies are something that they might have to learn sooner or later. We have to work on expanding the age group.

During the lockdown even the stocks crashed, only the cryptocurrency market stood strong.

Honestly people involved in the stock market do see this as an opportunity to invest since after the pandemic is gone they might see good gains.

It's the middle class people who are so worried about the market crashing , therefore they are moving onto cryptocurrencies.

Particularly most are into trading to make some passive earning as tech giants have come up with big pay cut.

Not only that , but there are services being offered by the companies where you can lend your bitcoins , so the giants are also using them as a passive income.

But trading cannot be categorized as passive income. ( A lot of work and skills are involved and one cannot just forget that )

Passive income is :
Lending
Holding
Getting gains from investment etc..

[CarnagexD]

Passive income apart from regular day job? it is very uncertain for anyone to have an income with crypto by just merely investing, prices are very volatile, one day you're greenish another day your red. So would it count as income at all? especially when you're not actively checking on it? There is the stigma for most of the people about crypto, they think it's all about earning money passively just by putting their money into it.  

[n0ne]

Whats been said in the post isn't about paasive income. It is all about earning out of cryptocurrency trading. Better change the thread title which might end up with the controversy on passive income. Also you could've understood what is truly a passive income out of the discussions.

[AjithBtc]

Almost in every post rather than discussion it is briefed about the meaning of passive income. Taking the same into consideration I've changed the thread title. I just wanted to show the growth/widening of cryptomarket in my City. In a third world country where government isn't supporting cryptocurrency, an increase in usage is the true result of growth.

[Gozie51]

Particularly most are into trading to make some passive earning as tech giants have come up with big pay cut.

A trader that is doing good with his strategy and having good profit will not see trading as passive. Trading is a high level profit oriented business if you can understand it. So a regard of it as passive is not approximate is what I think.

[Bitcoinislife09]

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

Stock investment is not bad in my opinion I have a friend who invested a lot of stock especially when the stock market goes down in the pandemic and he said his earning a good amount investing in it until today. For me, the cryptocurrency is just for investment and not actually for the digital currency used. Trading cryptocurrency earns me a good amount of profit until today and I think its the best way to earn in crypto compared to other methods depending on the volume you are investing in trading the profit is just high.

[harizen]

In a third world country where government isn't supporting cryptocurrency, an increase in usage is the true result of growth.

Do you mean your country is not crypto-friendly? How about the legality of it?

Do services related to crypto there is legit?

Strict regulations to crypto in your country might affect your future dealing with crypto. In other words, others might not shift into crypto-trading due to restrictions and legal concerns.

[DoublerHunter]

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.

^ Lockdown was probably the reason people getting in touch with the internet and I think most of them know how to trade if they know what is crypto. But as a new user of crypto, it is impossible to make a profit on it because doing trading will required skills and knowledge throughout on it and the passive income will probably unclear idea that people will succeed in it. Nevertheless, this opportunity makes bitcoin have to be well known, being profitable has become widespread that everyone who wants to take advantage of it.

[Hydrogen]

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.

Publicly unpopular lockdowns could undermine faith and confidence in governments minting fiat currency. Which in turn could compel investors to withdraw money from fiat holdings in stock markets. Investing funds long term in gold or crypto markets instead. Crypto based markets which could be considered better protected against inflation and state based mismanagement. These trends in sufficient volume could contribute to declines in fiat market valuation and gains in crypto market cap.

I would guess bitcoin and crypto are on the rise. Especially in countries where bank withdrawal limits and assorted restrictions are implemented.

[jossiel]

Particularly most are into trading to make some passive earning as tech giants have come up with big pay cut.

IMHO. It's other way.

Most are into holding and investing rather than trading. I myself was a trader before but I've seen no best result for me so I've decided to remain a holder just like others and just keep investing.

Trading could be classified as a passive income but I see it more as an active income as you need to work on it. And that's not an easy income, the dividends that some altcoins offer just for holding them is much more passive income.