Can One Actually Do Crypto Trading As A Living?

[iv4n]

I've heard of many people talk about cryptocurrency and its potentials all the time and at a point I begin to wonder if one can just depend fully on cryptocurrency as a means of livelihood.

Well, have in mind that some people accumulated a lot of coins in the early days and now they can trade with huge capital! I guess for those people it's more profitable to spend time analyzing the market and making trades than sitting in some office for a regular salary every month!

It's hard for small players, with small bankrolls we often choose higher-risk trades in order to make some meaningful profit, but because of that we often face losses... so without some nice capital it's impossible to fully depend on crypto trading as the only source of income!

[Mr.right85]

I think you could do pretty much anything for a living if you are determined but, you ought to be ready for the strokes it would come with.
Traders have often  come with high blood pressure issues and these comes from the various activities of the market when, it doesn't play according to your prediction based on analysis and you know for one, this could lead to bankruptcy.
No doubt, there are some successful traders out there but, not without scares from the currency market and as such, if you feel you could handle it should your expectations not come to realisation, you could try at OP.

[Pandu Geddon]

I think you could do pretty much anything for a living if you are determined but, you ought to be ready for the strokes it would come with.
Traders have often  come with high blood pressure issues and these comes from the various activities of the market when, it doesn't play according to your prediction based on analysis and you know for one, this could lead to bankruptcy.
No doubt, there are some successful traders out there but, not without scares from the currency market and as such, if you feel you could handle it should your expectations not come to realisation, you could try at OP.

I have a friend who does make a living from day trading. but indeed capital will be very important to be able to finance the needs of trade.
if you want to do it I think it is important for traders to be able to manage their assets properly. sorting assets for trading as well as investment assets. it's a little tricky but those who manage to do it I think can live without a lot of pressure.
most importantly avoid the risk of loss. how to do it, of course by improving skills in trading.

[palle11]

I have a friend who does make a living from day trading. but indeed capital will be very important to be able to finance the needs of trade.

What matters is risk management. Someone can sustain trading for a living if the person has been trading over the years and has sound knowledge of market and risk involved.

how to do it, of course by improving skills in trading.

Of course skill is important more far above capital. You can build small unit of capital if you have good knowledge of trading, get your entry right and exit time accurate. But if you have huge capital that amount to nothing if you don't know your entry points.

[pieppiep]

I've heard of many people talk about cryptocurrency and its potentials all the time and at a point I begin to wonder if one can just depend fully on cryptocurrency as a means of livelihood.

I'm not surprised if someone or some people say they can make money trading cryptocurrencies because I've seen proof of it from several of my friends. But when I see them trading, they use more than one monitor screen to analyze one or several coins at once and it's not easy because we have to focus on analyzing to find out when we can start trading. They say that a lot has to be done before you can earn from trading and this income will be different every month because it depends on the market situation.

[jostorres]

Yes and no. The fact is, it depends on a lot of factors. Such as marital status. Number of dependents. Years of experience. I have seen single young folks who hit it big trading crypto and were able to buy nice cars. But this is not in my opinion sustainable in the long run if the factors I mentioned above is put into consideration. You need to have attained a level of expertise to live on it. 

If it's possible then the answer to the op's question is only yes because that's the only thing he wanted to know but like you said, there must be conditions that he needs to meet first. If you are not single and there are people that depends on you like your family or relatives, it is still possible to buy your dream items such as a car but the only difference is that you can attain it in a slower rate because you are prioritizing the people that you think is more important the material things.

I like that kind of personality than to those who choose to be single and ignore the people around them because they are chasing personal goals first. They are too selfish.

[hashrateproducts]

Trading crypto as source of income is actually a good one because you are the boss and control the affairs of the ups and downs of your earnings. Crypto trading have lift many people from grass to Grace, only if master or traded wisely, and have also send people to trenches. I'm not fully into crypto trading but having an idea about it contributes fully to the stipends I earned. Sometimes I open trading positions with trading signals and take some profits, sometimes I lost also. It's all part of what one faces in trade. We have good, trained professionals in crypto that do it as a form of job daily, these set of people are actively in trading.

[Agbe]

I've heard of many people talk about cryptocurrency and its potentials all the time and at a point I begin to wonder if one can just depend fully on cryptocurrency as a means of livelihood.

I will say yes and no. Yes in the sense that, forex trading has been existence for a very long period of time and people are using forex trading for living. The profit they got from the trading in a week or a day can sustain them for the next trading days of the week or a week. Therefore, if the person is very good in prediction and trade very well then he can use it to create or generate income for a living.

Then why I say no because trading is like a gamble which you can loss all and win once. If you trade in a week and the trade does not favoured you in the week you will run as lost. And also is not something that you must rush. You have to take your time to calculate before going into trading even though you are an expert you must calculate the movement of the market, and also the bear market, must wait for the bear Market to end before profit can come in again if the capital is the only money inside. And all these process you of waiting, you must eat, pay your bills, buy things etc. Therefore, it is not possible to for one to depend only on trading for a living.

[bitzizzix]

Trying to live off the income generated from trading crypto for a living would be very risky even for professionals. And for amateurs, it can be financial suicide.
better find a source of income that takes advantage of your talent and hard work then save the money and invest it well and that's how you create long term wealth.

relying solely on crypto trading for a living is a waste of your time and money, because you will do it full time and you will end up losing money. And people can do it by no means completely depend on the income from crypto trading and they do it only as an uncertain side income for a certain period of time.

[_act_]

When you plan to take it as a full time job then better you already know or master it to make it work profitable since the market is too risky and unstable, you must have capital or bigger capital before you start quitting job to use in trading. It will be better to diversify it but still having other business or sidelines to do like taking some online job incase trading individually won’t work. Maybe there are others who do trading alone for aliving but we should take consideration their skills and money capacity before we compare ourselves  to them or do what they do.

Trrading is risky, money used for trading can be gone in some minutes, hours or days. Having that type of mind to make it from trading doubles the pressure from the trader to risk more, the end result may be very bad.

If having large amount of money already, the person can think of other businesses that are not risky, that is the best to do, he can do trading with the other business which is not risky like trading.

Going for trading alone is what I can not advise, not good at all.

[$crypto$]

When you plan to take it as a full time job then better you already know or master it to make it work profitable since the market is too risky and unstable, you must have capital or bigger capital before you start quitting job to use in trading. It will be better to diversify it but still having other business or sidelines to do like taking some online job incase trading individually won’t work. Maybe there are others who do trading alone for aliving but we should take consideration their skills and money capacity before we compare ourselves  to them or do what they do.

Trrading is risky, money used for trading can be gone in some minutes, hours or days. Having that type of mind to make it from trading doubles the pressure from the trader to risk more, the end result may be very bad.

If having large amount of money already, the person can think of other businesses that are not risky, that is the best to do, he can do trading with the other business which is not risky like trading.

Going for trading alone is what I can not advise, not good at all.

For me, it needs to be balanced because if you trade full time then the risk of losing money will be greater including those mentioned, per minute, hourly and daily money can run out in trading in an instant for me to keep thinking about balancing.

Business is important, don't leave the main job, no matter how it is a steady income for our daily needs, with investment and trading together, when we are profitable, we are profitable for the future, after all, we certainly have plans for the future.

But indeed trading full time I don't do it.

[Captain Corporate]

For me, it needs to be balanced because if you trade full time then the risk of losing money will be greater including those mentioned, per minute, hourly and daily money can run out in trading in an instant for me to keep thinking about balancing.

Business is important, don't leave the main job, no matter how it is a steady income for our daily needs, with investment and trading together, when we are profitable, we are profitable for the future, after all, we certainly have plans for the future.

But indeed trading full time I don't do it.

That is the most scary thing when you are a married person. If you are married then you can't leave your job because you have to support your family. I am married but have no kids and hope to have kids soon. Which means that I have to support a good income to my family in order to survive. Sure my wife brings in something as well but at this economy we can't survive with just one salary.

Between stop working and stop earning income, there is a good chance that you can't also build something for free, trading requires a small amount to start trading but if you want it to be a good big amount in order to have salary levels of income for you. On top of that you are going to start making more costs if you stay at home, believe me going out is a cost but staying in is also another big cost, like eating from ordering outside etc.

So all in all, depending on where you live, we are talking about nearly 5k per month type of loss and you need to recover that, with maybe like %10 per month realistic approach, that means you need to put in atl east 50k and have a consistent income with it. I doubt that it would be that much possible. I am not saying its impossible, but I have to say that it is not easily done neither, which is why I would stay away from it.

Just have your job, and on the side keep on trading after dinner, 2-3 hours a day and learn to be great, if you are great then you will raise a huge capital which would be enough to sustain you long enough time when you quit your job in the future, or just keep doing that and eventually retire.

[stomachgrowls]

For me, it needs to be balanced because if you trade full time then the risk of losing money will be greater including those mentioned, per minute, hourly and daily money can run out in trading in an instant for me to keep thinking about balancing.

Business is important, don't leave the main job, no matter how it is a steady income for our daily needs, with investment and trading together, when we are profitable, we are profitable for the future, after all, we certainly have plans for the future.

But indeed trading full time I don't do it.

That is the most scary thing when you are a married person. If you are married then you can't leave your job because you have to support your family. I am married but have no kids and hope to have kids soon. Which means that I have to support a good income to my family in order to survive. Sure my wife brings in something as well but at this economy we can't survive with just one salary.

Between stop working and stop earning income, there is a good chance that you can't also build something for free, trading requires a small amount to start trading but if you want it to be a good big amount in order to have salary levels of income for you. On top of that you are going to start making more costs if you stay at home, believe me going out is a cost but staying in is also another big cost, like eating from ordering outside etc.

So all in all, depending on where you live, we are talking about nearly 5k per month type of loss and you need to recover that, with maybe like %10 per month realistic approach, that means you need to put in atl east 50k and have a consistent income with it. I doubt that it would be that much possible. I am not saying its impossible, but I have to say that it is not easily done neither, which is why I would stay away from it.

Just have your job, and on the side keep on trading after dinner, 2-3 hours a day and learn to be great, if you are great then you will raise a huge capital which would be enough to sustain you long enough time when you quit your job in the future, or just keep doing that and eventually retire.

Doesnt really need to quit up as long you do able to sustain yourself or able to handle both things without  any problems on which you are earning a salary and at the same time you are earning out from your trades even though this one isnt really a guarantee since we know on how hard trading is.

You would really need to consider out lots of things when it comes to going full time with trading and making its income as your main source of income and the main one will be talking about
on how to sustain yourself and this would be the primary concern.

Yes, its possible to make a living with trading but this one could be attain into those people who do have big capital and do able to make profits despite of losses that committed on each day.

[AmoreJaz]

When you plan to take it as a full time job then better you already know or master it to make it work profitable since the market is too risky and unstable, you must have capital or bigger capital before you start quitting job to use in trading. It will be better to diversify it but still having other business or sidelines to do like taking some online job incase trading individually won’t work. Maybe there are others who do trading alone for aliving but we should take consideration their skills and money capacity before we compare ourselves  to them or do what they do.

Trrading is risky, money used for trading can be gone in some minutes, hours or days. Having that type of mind to make it from trading doubles the pressure from the trader to risk more, the end result may be very bad.

If having large amount of money already, the person can think of other businesses that are not risky, that is the best to do, he can do trading with the other business which is not risky like trading.

Going for trading alone is what I can not advise, not good at all.

if you are not yet familiar with trading, it is really a no no to go into trading only to make your money. you should have other means to generate income. some long timers can make a living out of this, but for sure, they already keep some money aside, like their savings or other investments. even long time traders can lose in this market, they don't have the crystal ball to know what's next. but they can reduce their losses by applying their acquired tricks in this market.

[Rufsilf]

relying solely on crypto trading for a living is a waste of your time and money, because you will do it full time and you will end up losing money. And people can do it by no means completely depend on the income from crypto trading and they do it only as an uncertain side income for a certain period of time.

Not really a waste of time, we can make this another source of income. We can somehow enjoy ourselves by doing this anyway. However, if we talk about making this a living, that is a NO NO. Yeah, you are right to make use of your talent and skills as a tool to find a job and have a stable income rather than relying solely on crypto for we don't have a profit assurance. I guess OP, it was clear to you now what is trading gonna be. Yet, it was your decision but I encourage you to think about the risk.

[DoublerHunter]

relying solely on crypto trading for a living is a waste of your time and money, because you will do it full time and you will end up losing money. And people can do it by no means completely depend on the income from crypto trading and they do it only as an uncertain side income for a certain period of time.

Not really a waste of time, we can make this another source of income. We can somehow enjoy ourselves by doing this anyway. However, if we talk about making this a living, that is a NO NO. Yeah, you are right to make use of your talent and skills as a tool to find a job and have a stable income rather than relying solely on crypto for we don't have a profit assurance. I guess OP, it was clear to you now what is trading gonna be. Yet, it was your decision but I encourage you to think about the risk.

^ Because the fact that people should use capital in trading is what they can afford, which means it is extra money for them that they can afford not your all assets to put at risk. Definitely right, there is no assurance of making a profit every now and then it could be your capital will easily to wipe out are you expecting this to pay your monthly bill and other daily basic needs that are supposedly a budget in your family?
However, Op should not rely upon other's opinions, it should be Op has own opinion and decision about this.

[Wakate]

I've heard of many people talk about cryptocurrency and its potentials all the time and at a point I begin to wonder if one can just depend fully on cryptocurrency as a means of livelihood.

Thee are Crypto investors that solely depend on Cryptocurrency for livelihood but it's not just about buying and holding cryptocurrencies. It could involves mining, Crypto softwares, crypto books, lectures, Trading, selling of crypto trading strategies etc just name it.
 Cryptocurrency is a gold mine and a lots of Investors had made good fortune from it. You don't have to be surprised because crypto is a big world on it own looking at how it works and operate. So many benefits we can earn from Cryptocurrency woeld

[andriarto]

I've heard of many people talk about cryptocurrency and its potentials all the time and at a point I begin to wonder if one can just depend fully on cryptocurrency as a means of livelihood.

Thee are Crypto investors that solely depend on Cryptocurrency for livelihood but it's not just about buying and holding cryptocurrencies. It could involves mining, Crypto softwares, crypto books, lectures, Trading, selling of crypto trading strategies etc just name it.
 Cryptocurrency is a gold mine and a lots of Investors had made good fortune from it. You don't have to be surprised because crypto is a big world on it own looking at how it works and operate. So many benefits we can earn from Cryptocurrency woeld

For beginners, of course, don't look at the results of people who are already successful in the cryptocurrency world, but we have to find out how he can be successful in the cryptocurrency world, considering that many beginners with high imaginations in the crypto world, and the result is that they slip into misery because their capital is precisely exhausted due to being toyed with the volatility that occurs

[Rupok]

It would not be appropriate to treat the trading sector as an entire profession.  As trading is easy to earn, there are also some risk.Although there are many ways in the cryptomarket where you can actually earn more, it depends on how skilled you are.There is no such thing as always profit in trading, loss can also happen.  Because the crypto market has ups and downs, you will feel good when the market is up and you will feel disappoint when the market is down.So in my opinion try something else besides cryptocurrency.

[wxa7115]

I've heard of many people talk about cryptocurrency and its potentials all the time and at a point I begin to wonder if one can just depend fully on cryptocurrency as a means of livelihood.

Of course it is possible but it is not something that anyone can do, and this is a big problem because this is something that you cannot do with your skill alone, even if you were one of the best traders around the world you will not be able to do this if you do not have enough capital to sustain yourself.

For example when there is a bull run you can make massive profits but can you generate the same amount of profits when the market is crashing? If you can, you have a great advantage over most traders, in that case you can trade for a living because you will be able to obtain good profits regardless of how the market is moving, but if you cannot do this then it is going to be almost impossible for you to make trading your only occupation.