Can Bitcoin trading be my sole source of income?

[TelolettOm]

Is it safe for a Bitcoin trader to quit their jobs and focus solely on Bitcoin trading if they can devote their time and attention to maximize the benefits in the Bitcoin world?

Why you must quit your job, dude? If you can divide your time, you shouldn't quit your job because we actually need another job in real life. I assume you won't trade Bitcoin the whole day, there is time for doing another job. Trading can be more flexible, you can adjust the time for trading with the job. Remind that we may not get profits in trading every time, there should be time for losses. So, I think we shouldn't rely on trading for our main income. It means, the job in real life is needed, especially if the job can fulfill our monthly needs.

Anyway, having the whole day to trade doesn't guarantee profits. So, why we must quit our job and spend time only for trading the whole day? 
I'm sure, even as an expert, he still has a job in real life.

[xSkylarx]

As a young person, I am overwhelmed by my curiosity in trading Bitcoin, but I'm not sure if it is appropriate for me to resign my white collar work and return to trading exclusively Bitcoin.

Is it safe for a Bitcoin trader to quit their jobs and focus solely on Bitcoin trading if they can devote their time and attention to maximize the benefits in the Bitcoin world?

You can do whatever you want OP. You need to be at the pro-level of trading in addition to having made profitable trades before making a decision to quit your job. Since a trader cannot be an alone identify yourself with other traders in the community who are way higher an above you before thinking about.

I'd say do not be in a hurry. The universe will bring it to your consciousness when it is time to move fully into it and by that time, you wouldn't need to ask anyone because you would feel ready, and everything would be in place for you.

you should have a journal to list down your profit, entries, winning and lossing because that is where you can evaluate of you are earning a profit and you can make it as your source of income. It doesn't mean that for few months you are profitable youll now go fulltime on it you should have data like years so that it is really proven that you can make it as your main income. Agree that you need to have patience on it because if you have for sure youll have a lot of free time and you dont have to follow orders from your boss

[Kasabus]

Is it safe for a Bitcoin trader to quit their jobs and focus solely on Bitcoin trading if they can devote their time and attention to maximize the benefits in the Bitcoin world?

That should rely on your decision after comparing both, but however in my case, I will never quit my full-time job and focus solely on Bitcoin trading due to the risk in cryptocurrency, especially if  I am earning better wages/salaries  from my place of employment. I don't crypto trader but i am investor, but from what I've heard, it's not a good idea to rely solely on trading, even if you are making money from it,this is because there is no guarantee that you will continue making the money from trading continue. The best course is to just pursue trading as a side hustle. In fact there many people that quit their job for trading but they are now regretting it.

This is really true. Trading is not forever, though you can say you’re profitable at the moment but it won’t guarantee that you’ll be making the same profits within the next months or years. So leaving your current job for the sake of trading, for me that would be a very risky decision. Especially if you are a breadwinner in the family, you cannot rely a sustainable income from trading alone, you have to maintain a stable job that give you fixed amount of income, and just do trading as one of your side hustles so that if ever trading becomes unprofitable, your family will not starve to death.

[wxa7115]

As a young person, I am overwhelmed by my curiosity in trading Bitcoin, but I'm not sure if it is appropriate for me to resign my white collar work and return to trading exclusively Bitcoin.

This was a conversation a buddy of mine and I had yesterday, and I felt compelled to bring it to this illustrious platform for the best types of advice and counsel.

Is it safe for a Bitcoin trader to quit their jobs and focus solely on Bitcoin trading if they can devote their time and attention to maximize the benefits in the Bitcoin world?

No, this is not safe at all, in order for trading to become your sole source of income you will need several things, to begin with do you have the capital to even attempt this? Can you live with only the gains that you can produce out of this market? And even more importantly how much money do you think you can generate each year?

A low projection would be a 20% gain per year on your capital, this may seem low but if you could generate this amount of money on traditional markets your door will be torn apart by investors giving you their money so you can trade in their place, so 20% is a decent amount, can you live with just 20% of your capital? If the answer is no then regardless of how high your trading skill is you will surely fail if you quit your job to become a full-time trader.

[Newbie.]

The classic dilemma of curiosity versus stability. Quitting your job for full-time Bitcoin trading is like playing Jenga with your career. It might seem exciting, but one wrong move and the whole tower could collapse. How about finding a balance? Keep your day job and explore Bitcoin trading as a passionate side hustle. That way, you can chase your curiosity without risking everything.

[Dr.Osh]

if you want to quit your job, make sure that you have another income each month. whether it's from the business you live in, or you have other things. I think quitting your job and focusing on trading is not a good idea. if you are really curious about trading, then try to do it during your free time, or when you have a day off or come home from work. there's still plenty of time to trade, unless you're working 24 hours and I don't think that's possible for someone working a white collar. you can probably start by making trading your side job while learning to do it.

[peter0425]

As a young person, I am overwhelmed by my curiosity in trading Bitcoin, but I'm not sure if it is appropriate for me to resign my white collar work and return to trading exclusively Bitcoin.

This was a conversation a buddy of mine and I had yesterday, and I felt compelled to bring it to this illustrious platform for the best types of advice and counsel.

Is it safe for a Bitcoin trader to quit their jobs and focus solely on Bitcoin trading if they can devote their time and attention to maximize the benefits in the Bitcoin world?

What I have in mind is that about to ask the reason of need to leave the job as in a collar job just to trade, Yeah I do believe that we can make a living in bitcoin as we have people around living with it.
but to solely depending in trading while there is a decent Job and paying good to be leave behind?
nope I don't think there is a need for this , why not just trade and work together?

[wajik-tempe]

It might be risky to leave a steady employment to concentrate completely on Bitcoin trading, especially if you do not have a sizable amount of cash to fall back on. Prior to making such a significant choice, it is crucial to have a well-defined strategy and reasonable expectations.
Additionally, learning the discipline, expertise, and experience needed for Bitcoin trading may take some time. It is crucial to have a plan and to follow it consistently.

[TheUltraElite]

Is it safe for a Bitcoin trader to quit their jobs and focus solely on Bitcoin trading if they can devote their time and attention to maximize the benefits in the Bitcoin world?

That is a bad decision.

Investing responsibly needs you to have a stable income source, usually a job that keeps your wallets refilled every month with salary and then on top of that you put in your side hustles and investments where you earn "extras" which are non-stable but happening every now and then.

Trading in bitcoin with profit is usually a long term thing, like buying today at 27k you will have to sell at the next all time high, which might take 6months, so during this dry period, how do you expect to feed yourself? - that is the practical question, now if you have given up your job then you will die of starvation considering you dont have any other source to get money.

So you need to balance both, long term bitcoin trading and a stable job at hand. Under no circumstances, will trading bitcoin replace the other, otherwise everyone would be trading coins and stocks and not working their asses off at their offices.

[imamusma]

Is it safe for a Bitcoin trader to quit their jobs and focus solely on Bitcoin trading if they can devote their time and attention to maximize the benefits in the Bitcoin world?

I'm not going to forever say that quitting a job that doesn't pay well is bad. I mean, some workers are just so low paid out there who may no longer be able to make ends meet since inflation is getting worse. So if supposing you are a trader who has a good budget, you can make worth profits with it, then it might be good to focus on trading instead of forcing yourself to work where you are not well appreciated.

But it is also good if you have your own business instead of just focusing on trading because you can never know if you will make a profit every trading time frame or you may even lose due to price volatility. Have your own business, it will help you have financial stability.

[Finestream]

As a young person, I am overwhelmed by my curiosity in trading Bitcoin, but I'm not sure if it is appropriate for me to resign my white collar work and return to trading exclusively Bitcoin.

This was a conversation a buddy of mine and I had yesterday, and I felt compelled to bring it to this illustrious platform for the best types of advice and counsel.

Is it safe for a Bitcoin trader to quit their jobs and focus solely on Bitcoin trading if they can devote their time and attention to maximize the benefits in the Bitcoin world?

For me it's going to be hard if you are just going to rely on bitcoin trading as your sole source of income. We have heard this before, there are beginner traders in 2017 wherein they thought that they can just make huge money on trading because that time we are in a bull run. So not sure what happen to those who resign from their regular job and solely focus on bitcoin trading.

Because as we all know, market is very volatile, it could be a day that you make money but possible that you can lose more in the long run. So very difficult in the beginning, and if you don't have experience, then it's better to just take it easy, in my opinion.

Know that bitcoin trading is hard and burdensome most especially for beginners who still have a lot to learn in the market. So you can’t expect that your trades will succeed and make you become profitable consistently. Having it as your only source of income will only add pressures and risks as a trader. That is the reason why most people just do trading as a side hustle rather than making it as a main source of income. Otherwise, if you focus on trading alone thinking that it could offer you huge amount of profits, yes it could be possible but the process will be very hard and risky particularly for those who have less knowledge and experience in trading.

[freedomgo]

As a young person, I am overwhelmed by my curiosity in trading Bitcoin, but I'm not sure if it is appropriate for me to resign my white collar work and return to trading exclusively Bitcoin.

This was a conversation a buddy of mine and I had yesterday, and I felt compelled to bring it to this illustrious platform for the best types of advice and counsel.

Is it safe for a Bitcoin trader to quit their jobs and focus solely on Bitcoin trading if they can devote their time and attention to maximize the benefits in the Bitcoin world?

The decision is really up to you based on how you evaluate yourself in trading and how you see yourself in the future with trading alone. If you have the skills and winning strategies that will keep you beat the market and make you profitable, then it’s a good decision to focus for trading. But always remember that we are trading in a very changeable market, that sometimes when the market is in a bad shape, it’s also impossible to be profitable no matter how you tried to. So relying on trading alone can never guarantee consistency in profits, but expect that most who do trading are at loss most especially if they are new in trading.

[Oilacris]

As a young person, I am overwhelmed by my curiosity in trading Bitcoin, but I'm not sure if it is appropriate for me to resign my white collar work and return to trading exclusively Bitcoin.

This was a conversation a buddy of mine and I had yesterday, and I felt compelled to bring it to this illustrious platform for the best types of advice and counsel.

Is it safe for a Bitcoin trader to quit their jobs and focus solely on Bitcoin trading if they can devote their time and attention to maximize the benefits in the Bitcoin world?

Yes you can but it would be taking lots of years and experiences for you to make yourself that sustainable and this is why its never been that considered on doing so when you are still tending to learn or simply newbie into it which it would really be that not simple as it sounds or looks. Sole income or relying your way of living into trading is something that not everyone could be able to achieve but if you do have that kind of plan and target then you should really be serious on achieving it and just like on what i had mentioned that it would be not that simple or easy as it looks.

Not everyone could be able to have a good grasps on the market and making themselves sustainable and making and depending their living into it. It is really just that too risky on doing so.
So better to take those small or baby steps for you to consider on on which you need to have some day job and making trading as a side income or hustle on which you could
really see whether it would be that viable on your part on making it as a side income or not. You would be finding out for yourself on what it would be.

[Mart1ncrypto]

As a young person, I am overwhelmed by my curiosity in trading Bitcoin, but I'm not sure if it is appropriate for me to resign my white collar work and return to trading exclusively Bitcoin.

This was a conversation a buddy of mine and I had yesterday, and I felt compelled to bring it to this illustrious platform for the best types of advice and counsel.

Is it safe for a Bitcoin trader to quit their jobs and focus solely on Bitcoin trading if they can devote their time and attention to maximize the benefits in the Bitcoin world?

Even though Bitcoin trading might be tempting, it's quite risky. As with any finances, you shouldn't rely on just one source of income. Better to have a backup!

[vanesha]

it would be better to make crypto as a side income unless you are really good at taking advantage of the trend here, because if only courage capital I'm sure you can't survive here. Apart from being courageous as an investor, intelligence in analysis is needed and you also have to have a community so you don't miss the latest information about crypto and its developments are really needed.

[Litzki1990]

Is it really safe to quit your job for trading? If you don't know yourself whether you will gain or lose by trading then on what basis you want to make such a decision. Trading is always risky. You may know that you have to trade with the thought that you will lose your money because the market can go in any direction at any time. 

Since there are many risks involved in trading, you should not leave your employment before you have to trade alongside the employment you are currently engaged in and this decision will be a good decision for you.

[Peanutswar]

Actually, the reality is you can make trading while doing work, we know that most of the work today requires 8 hours of shifting per day but again its 24 hrs per day those remaining hours you can use to understand the concept of trading and how does the trading work and what are the other strategy to commit a trade. If your work has a set up of onsite and could travel within an hour you can use those number of hours to learn more again if you focus on the task you want to do even though it's hard you will do it, because you want and you learn. Another thing if your set up is work from home this might be more convenient to you.

If you have a regular job and not still good in trading continue on it, but if you think you have enough money and capable to risk in trading its your decision.

[Japinat]

it would be better to make crypto as a side income unless you are really good at taking advantage of the trend here, because if only courage capital I'm sure you can't survive here. Apart from being courageous as an investor, intelligence in analysis is needed and you also have to have a community so you don't miss the latest information about crypto and its developments are really needed.

Whether it's a side income or sole income, it doesn't matter; it depends on how consistent you are in making money in crypto. However, to manage the risk effectively, it is advisable not to rely on a single income stream. Having a business that generates income is a great idea, and investing in crypto can potentially bring fortune. Nevertheless, it's important to understand that there is no easy money in crypto, and every investment carries risks. It's akin to gambling, and one must be aware that there is a possibility of losing money.

Speaking from my own experience, I started investing in crypto, and when I made profits, I cashed out some of the money and used it to start a business. Now, I am investing in crypto while simultaneously running my business.

[Awraawra]

As a young person, I am overwhelmed by my curiosity in trading Bitcoin, but I'm not sure if it is appropriate for me to resign my white collar work and return to trading exclusively Bitcoin.

This was a conversation a buddy of mine and I had yesterday, and I felt compelled to bring it to this illustrious platform for the best types of advice and counsel.

Is it safe for a Bitcoin trader to quit their jobs and focus solely on Bitcoin trading if they can devote their time and attention to maximize the benefits in the Bitcoin world?

Much better to manage your time in your work and also in trading. Better to have work and give some time to trade. You can get income to the both of them is you can know how to manage your time. If you gonna focus in trading bitcoin you can get a good profit. And also if you have a job if you want to get a good income you must have focus on it. So it's the same you can get a good income in your job also in bitcoin trading.

[xSkylarx]

As a young person, I am overwhelmed by my curiosity in trading Bitcoin, but I'm not sure if it is appropriate for me to resign my white collar work and return to trading exclusively Bitcoin.

This was a conversation a buddy of mine and I had yesterday, and I felt compelled to bring it to this illustrious platform for the best types of advice and counsel.

Is it safe for a Bitcoin trader to quit their jobs and focus solely on Bitcoin trading if they can devote their time and attention to maximize the benefits in the Bitcoin world?

Much better to manage your time in your work and also in trading. Better to have work and give some time to trade. You can get income to the both of them is you can know how to manage your time. If you gonna focus in trading bitcoin you can get a good profit. And also if you have a job if you want to get a good income you must have focus on it. So it's the same you can get a good income in your job also in bitcoin trading.

It is really difficult to quit your job if you are just starting out. Yes, you can get a good profit if you go full time, but this doesn't apply to all those who go full time who are already professional traders; they have already established a strategy and gained a profit that can last for a couple of years. If you are just thinking dumbly and quit your job, for sure you'll suffer. That is why it is better to have a full-time job and at the same time make your trading a side hustle.