Don't ever quit your job to trade crypto.

[ogundowotoby01]

I see a lot of newbies ask whether they should quit their jobs to trade crypto, and my honest advice is you should not try it.

The thing with any investment or business is that, no matter the amount of money you have, it is always good to start small and grow over time (don't test water depth with both feets). Because you are entering a new market and you need time to understand the market. Your job will stand as an insurance for you, in case of any loss. So keep your job, continue investing in crypto and growing your portfolio until the money you make from crypto is more than enough to pay for your lifestyle and also save. Then only can you quit your job.

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[Charles-Tim]

Trading generally is risky, be it crypto, forex or stocks. You are right but I have different opinion on this. The only time best for someone to quit his/her job is not when crypto trading is sufficient for living because trading is risky, but the time when the person has already established a business that can also be another means of earning income which is not risky like trading. With this, the trader will have quality mindset to trade. Although, some people are basically traders and they are earning incomes, but not for everyone because trading is risky.

[sheenshane]

Is anyone here considering trading and investing crypto as a source of income?  IMO, I won't.

Get a decent job and should have a stable source of income.  In that way, you can fulfill your needs and also if your trading and investment habit.
Crypto trading and investing are very risky and I tend to agree with that, there's no assurance that you will and it's unpredictable either you will gain profit and you will lose, it seems a sort of gambling.

When you have a stable income, you can afford the amount that you want to invest in crypto, either it will win or loss in trading or waiting for an unknown time frame in getting profit from investing, there's no worry about it because you have a job which had a stable income.

[FatFork]

There is no doubt that there is risk here, but there is also a great deal of upside. Before you dismiss the question outright, bear in mind that some people have actually done this. There are many factors to consider when it comes to trading, and your career opportunities as a trader are extremely diverse. If that's what you're after, I'd say go for it. But for a lot of young people, it's tough to figure out how they fit into the whole game.

[BitcoinBarrel]

You should not quit your job until you can live on 20% of what your side business produces each month.

[Darker45]

You cannot compromise your regular source of income over something which is very risky. But it also doesn't mean that since you are tied up with a regular job, you cannot anymore familiarize yourself with cryptocurrency trading and even become expert with it. It is all about time management. If others who have full time jobs can manage to juggle work with going to school and having family responsibilities, it could also be done with cryptocurrency trading. Determination is the key.

[SquirrelJulietGarden]

I see a lot of newbies ask whether they should quit their jobs to trade crypto, and my honest advice is you should not try it.

Newbies want to do so after they have easy, fast and big profit from crypto market.

There are facts that they've yet known because they are newbies and don't have much time in crypto. As newbies, they will struggle to keep any profit they've earned. They will easily to lose their profit and if they can not control their emotion, they will make bad decisions. At the end, they will lose their capital as well.

If at the end, they lose capital and already quit their jobs, they will get troubles.

If they want to quit their jobs, they should cash out their profit from crypto, store it as fiat in their bank account as savings. With bank savings, if anything bad comes, they can use it to live for few months to years. It is not easy to do.

[cryptoaddictchie]

I see a lot of newbies ask whether they should quit their jobs to trade crypto, and my honest advice is you should not try it.

I'm not a newbie but Id loss my job during the midst of pandemic and during that time the only thing I could draw money from was trading and investing. Yes it shouldn't but it did give me some good profits from trading. Now that the system is returning to normal, I'm gonna try if I'm gonna survive without my job and pull off the trading method.

So far until now it's good. It's case to case basis, actually some should not quit job and focus on trading considering I have a good job and fair compensation. Its always a gamble out there. So better take caution everytime.

Is anyone here considering trading and investing crypto as a source of income?  IMO, I won't.

More accurately for that is profit. But it could be the same as source of additional income I guess. If the trading and investing given you enough or at least ample income like your job then it can be considered just an opinion.

[libert19]

My friend exactly did that, then got lucky in one of airdrops, he trades full time now.

[GreatArkansas]

In short, trading is not for everyone.
Trading is not easy money at all, it takes time, effort, and MONEY to become successful traders. A lot of people, especially newbie who started trading but after a few trades/days/weeks, they stopped trading.

Trading is like Expectation V.S. Reality meme out there. Most of you can see online, especially social media are good sides of trading, some people showing off their profits, how many profits they earned on trading. But the negative part of trading, they are not showing it off.

[pakhitheboss]

Finding a decent job in these pandemic times might not be fruitful. A job is must or a monthly source of income is a must if you want to earn more from cryptocurrency trading. I also would not recommend anyone to quit their job and invest everything in cryptocurrency. Keeping it as a side income should be the priority.

[TheMimic1]

I don't believe that people can quit their jobs because of crypto trading because loss is in every corner and it doesn't take too long to figure that out, in a day of trading you will lose and recover back and if you are a newbie you'd probably freak out and loss yourself

[aoluain]

In this current bull market if you are a successful trader my opinion is you should be able
to give up your job - Period. You should be able to make massive gains in this market as
a trader. While we are still in a bull market the proce is correcting a lot, traders dream,
If you can make the right trades!

Otherwise its risky, its takes experience, dedication, patience and time.

[noorman0]

If you live today, you should have secured your needs with a regular job. Cryptotrading can't guarantee your daily needs even if you are aiming for future savings. Moreover, the trading times are very flexible and will not bother you to carry out other activities.

[boyptc]

Don't keep until you're well off with the amount you've got in crypto but even you reaches up to the point that you can retire because you've made well in crypto.

Still keep some cryptos on your hand.

Btw, trading is riskier. Take it from someone who had done it before and chose to hold.

[Ebede]

I see a lot of newbies ask whether they should quit their jobs to trade crypto, and my honest advice is you should not try it.

The thing with any investment or business is that, no matter the amount of money you have, it is always good to start small and grow over time (don't test water depth with both feets). Because you are entering a new market and you need time to understand the market. Your job will stand as an insurance for you, in case of any loss. So keep your job, continue investing in crypto and growing your portfolio until the money you make from crypto is more than enough to pay for your lifestyle and also save. Then only can you quit your job.

Leaving your job to trade will add values for trader to exploits in trading, that reminds a trader that the necessary thing it have to do, to become successful is attentions, because engaging in business with lack of trust and interest will lead to collapse of business, and biblically and other religions believe let us know that we can't serve two masters at a time, therefore weather you trade or you focus on job so that you can be a specialist in one section.

[Pokapoka124]

I see a lot of newbies ask whether they should quit their jobs to trade crypto, and my honest advice is you should not try it.

The thing with any investment or business is that, no matter the amount of money you have, it is always good to start small and grow over time (don't test water depth with both feets). Because you are entering a new market and you need time to understand the market. Your job will stand as an insurance for you, in case of any loss. So keep your job, continue investing in crypto and growing your portfolio until the money you make from crypto is more than enough to pay for your lifestyle and also save. Then only can you quit your job.

OP I feel a strong energy from your message. You sound so sure and I'm certain you have strong feelings about this. My question to you is this; Have you been in that situation before? If you had, then I'm guessing things went wrong and you regret your actions. Trading crypto is work just like traders on wall street. Its not a gamble, like every other profession, you need to be have an education to be a successful crypto trader. It's a full time job...I don't fancy OP's narrative of making trading sound like a passive thing.

Having a job is considered a safe plan. You're sure to get paid a salary at the end of the month( most times) and you don't have to bother about the company's risks or losses. You save enough to get you through retirement. Playing it safe is good ideology but that won't get you far if you have ambition. I have seen friends quit their jobs to pursue their dreams and passion, very few succeed at it but they move on because they tried at it.
The problem is newbies are lured in the crypto space believing they can change their lives overnight and become billionaires.  A man who believes such can do anything.

[DigitalFox]

I'm not a newbie but Id loss my job during the midst of pandemic and during that time the only thing I could draw money from was trading and investing. Yes it shouldn't but it did give me some good profits from trading. Now that the system is returning to normal, I'm gonna try if I'm gonna survive without my job and pull off the trading method.

You were lucky enough to have some funds saved to start with. Most of the people who ask about it don't have any starting capital IMHO, not to mention lack of knowledge. All they see is alts making multi X and want their bite without realizing that it's just temporary situation. I doubt that anyone who is really aiming at something would ask advice on internet forums instead of learning the trade.

[Stalker22]

Some people say that trading is easy money, you just throw some money at the exchange and it will automatically grow for you like magic.
But is it really that easy? Not really, the money really does not come to those who invest a few dollars, it comes to those who invest a few thousand and more. Trading is not easy money at all. Just because you were successful for a couple of days, that doesn't mean you will make any money in the long run. You have to maintain your winnings and losses. That is why it is important to understand the fundamentals of the market.

If you are successful in trading, don't get greedy and don't get too excited. Only practice a couple of trades at a time. Also, unless you're experienced, never trade using leverage.

[bakasabo]

Never seen a newbie asking whether he should quit his job, or dont do it, because he is a pro at trading. Being a trader is not easy. Person should realize that if he was lucky with one trade, that wont happen all the time. I see trader as a person that spends whole day behind several screens and monitors market for a profitable deal, while reading crypto related news. While at work, you could just work from 9 to 5 and go home. Is person really ready to work more if he is not sure that result will be successful?