Can Bitcoin trading be my sole source of income?

[iBaba]

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?

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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?

It is certainly possible, to make a living from trading but only you can give the correct answer to this question. Everything, exclusively everything depends on you. How skilled you are, how disciplined you will be and how dedicated you will be to the whole job.

Judging by what and how you write, I would rather say that you are a beginner than an experienced trader. In that case, you certainly cannot rely only on income from the trade, because there are no guarantees and you have a long learning way ahead of you. The moment you are ready to be independent and rely only on your trading skills, trust me you will not need this kind of advice from anyone.

[Oshosondy]

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.

You can only answer this question yourself. Have you been trading for like a year and able to earn 70% or more, more than losing? If yes, you can try it.

If you are trading with just little amount of money, do not quit your job.

If you are trading with high amount because you are a professional now and earning, you can quit your job.

If you have your own job as a means of additional income you can quit your job.

Do not trade with the amount that is too high that can result to bankruptcy of trading fund. Assuming you have $100000, just use $5000 for trading.

If you are a beginner, do not quit your job.

[Yaunfitda]

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.

[BIT-BENDER]

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?

Time is a good attribute for a bitcoin trader and so is attention this are all good characteristics but you are forgetting probably the most important thing and that’s capital, you need to have funds to trade, and for a those who don’t have any other source of income or haven’t yet gotten sufficient funds(win or lose in trading they won’t be broke) then you can quite your job for it if you want to, but for an average bob i think it’s taking a step too far.

I believe in being selfed employed but if you must quite your job it shouldn’t be for trading, it’s really an unpredictable(very risky) venture you would probably need to have other sources of income to fall back to.

[isaac_clarke22]

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're still young like you mentioned. Better save up for your white collar work and keep at it instead of resigning to trade. I am going to tell ya that it's going to be a mess once you started trading Bitcoin. I did day trade back in the days just like the story I mentioned in every trading related discussion and believe me that you'll be hella exhausted at the end of the day and it ain't just worth it.

It's possible like examplens mentioned, but it is going to be a sloppy experience for ya. You could do trading as a side income as long as is it not breaching your contract in the company you're working at. If your 9-5 is not really paying well, it might be better to just job hop.

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.

This is exactly me except it was around 2018, if I can recall correctly and I was day trading that time. It's just not worth it. The money isn't just worth it if your mental health is screwed at the end of the day.

[SFMHodler]

It depends on how good you are with trading and what kind of capital you bring to the table.

[Asiska02]

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?

It is quite risky to do that even while trading has high prospects and many people have succeeded in it and are currently prospering. You cannot quit your white-collar work and solely rely on trading because you are new to trading and possibly bitcoin altogether. It has both terrible and beneficial effects, and if you're unprepared, they could cause you to lose all of your riches.

You say you're still young, so I'll give you some advice: take things easy, pay more attention to your job, and learn how to trade progressively before you become an expert trader and decide whether or not to rely entirely on trading as a source of income.

[Yamane_Keto]

This would be the stupidest thing you might do in your life, you are young and therefore you need a cent to collect whether you collect that money through the job or through trading, if trading interferes with your job then it is better to leave trading. If the job is not enough for your basic expenses, look for a better job and develop your skills, when your expenses are greater than your income, then you will be able to start dividing your money and put part of it in Bitcoin and trade in your free time. If it is necessary, then try it on vacation. Is it worth the risk or not?

[a298b112]

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?

I saw some statistics that confirms most of traders are not profitable in the long term. The funny thing about trading is, it seems easy. You buy low, and sell high. In reality it is very difficult.

Now, since you are asking us, I assume you don't have (or you have very limited) experience in trading. Then the answer is don't quit your job. However, keep learning and see if you can be a trader. 

[libert19]

It is not recommended to give up your primary job until trading itself becomes your primary source of earnings. Profit and loss are an inseparable part of the trading game, and if you do not have a job, the losses can be overwhelming.

[tbct_mt2]

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.

With Bitcoin, you should start with investment that means holding it long time to take profit. To hold your bitcoins and don't be liquidated, margin called, self shake your hands, you must invest with your own money, not borrow money from someone to do that.

If you start with trading, you will take big risk and very possibly you will end with failure, debt and your life will not be easy.

Only trading if you have profit from investment and after have a few years in this market especially after you experience two years of Bitcoin bear market in its market cycle which is 4 years.

[joniboini]

Others have already pointed out how risky and unwise the decision is. I'll just remind you that even if you can spend 24/7 in front of a trading terminal, what you get daily is absolutely not guaranteed. I'd not rely on such a volatile income regardless of how good I am at doing that, I doubt any big traders do the same thing. You can probably start acting that way if you can spend a thousand dollars easily and never going to get into trouble even if you lose everything. Heck, some professional traders/brokers get paid to trade.

If your job is quite decent, save some money and use that money to buy BTC every month or just do a weekly trade or something similar. The profit might be smaller but it will save you from stressing over a miss in 1% pump every day.

[Zilon]

It depends on how committed you are towards making it through trading. Many in the past left their jobs and took to crypto trading as full time job and the succeeded and  others failed. You should rate your level of discipline as regards emotions and fear before knowing he next step to take from here. Trading is lucrative but it entails a whole lot.

[cydrix]

Engaging in trading while young and in need of income for expenses may not be a wise decision, as it could interfere with one's employment. If trading begins to affect one's job, it's recommended to stop trading and focus on finding better employment to meet financial needs. Once expenses can be met with income, one can consider diversifying investments by allocating some money towards trading, such as Bitcoin, during spare time or vacation. However, one should carefully weigh the risks involved before making such a decision.

[Anguwa]

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, but it is not advised if you lack sufficient knowledge of Bitcoin trading.

Giving up your job to pursue Bitcoin trading is extremely risky; there are a lot of unknowns and potential outcomes, both positive and negative. If you're fortunate, you'll encourage others to follow your example, but if you're not, you'll be the one telling them not to try it because it is unreliable.

[Hamza2424]

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?

You are a young man you understand the importance of digital skills and you know that practical life is not the bed of roses so digital skills are gonna play a vital role in your financial position but leaving the white collar job for Bitcoin trading is not at all appropriate. Trading is a side skill if you don't have good investment capital even if you own decent capital still I won't recommend you.

Learning more skills is important you can't just rely on Bitcoin trading or crypto trading because the market has many modes where times its volatility disappears for months and the market bears long-run pressure and you may not be able to afford such a situation if your only way of income is Bitcoin.

[bitzizzix]

You have to judge or correct yourself about bitcoin trading and what you need to know is that you still have to have a lot of bitcoin trading knowledge, capital, effort and consistency to do it, and also have to do it full time to analyze. And besides, have you ever done it and made a decent profit trading daily, weekly, or monthly, and you should seriously consider doing it because you would be sacrificing your job to go out and trade full time.
and indeed many of them were successful after they decided to only focus on bitcoin trading, but some failed. And this is what you have to do research to find the truth and failures in their trading for you to learn, and the answers are within you especially your qualities in trading.

[yhiaali3]

It is better for you to continue with your work for the time being and do trading alongside your job, that is better now. Through your job, you can constantly support your trading capital until it forms a good capital that you can rely on.

When you gain good experience and get a good capital that you can withstand in case you suffer any big loss, you must bear in mind that you may suffer a big loss and therefore you must have a reserve.

[Dunamisx]

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?

If you're a newbie to bitcoin trading then don't ever try this because you will get frustrated especially when you need financial income flow and things were not happening as you've expected, bitcoin  trading is of no doubt a profitable investment but we nust also considers that it's not every time that this occurs, we also stand a chance to risk our income source in case of times trading is not working for us, but the best thing to do is to always have business alternative.